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-14 } § n 41 , INTERLOCAL AGREEMENT THIS AGREEMENT made and entered into this 2nd day of October , 2001 , by and between the ESCAMBIA COUNTY HOUSING FINANCE AUTHORITY , a public body corporate and politic organized and existing under the laws of the State of Florida (hereinafter referred to as the " Escambia Authority") , and INDIAN RIVER COUNTY , FLORIDA , a political subdivision of the State of Florida (hereinafter referred to as the " Participating County") ; WITNESSETH : WHEREAS , Chapter 159 , Part IV , Florida Statutes , (the "Act") authorizes . the creation of housing finance authorities within the State of Florida (the " State") for the purpose of issuing revenue bonds to assist in relieving the shortage of housing available at prices or rentals which many persons and families can afford ; and WHEREAS , the Escambia Authority by resolution duly adopted on June 13 , 2000 (the " Enabling Resolution" ) , authorized a plan of finance (the " Plan ") for the issuance from time to time of not exceeding $400 , 000 , 000 Single Family Mortgage Revenue Bonds (Multi- County Program) (the 'Program " ) ; and WHEREAS , the Escambia Authority has indicated that it expects to issue its Single Family Mortgage Revenue Bonds , Series 2002 (Multi- County Program) (the " Escambia Bonds " ) in a principal amount not exceeding $ 150 , 000 , 000 , exclusive of any amounts required for refunding purposes ; and WHEREAS , pursuant to Sections 143 and 146 of the Internal Revenue Code of 1986 , as amended (the " Code ") , the amount of qualified mortgage bonds which may be issued in each year is limited by a private activity volume cap which has been established for such purpose within the State ; and WHEREAS , the limitations upon available portions of the private activity volume cap prevents the separate issuance of qualified mortgage bonds for each county from being feasibly and economically accomplished ; and WHEREAS , the Escambia Authority has authorized a sufficient amount of Escambia Bonds to fund , refund or refinance outstanding obligations , the proceeds of o which will be used to finance a portion of the anticipated demand during the proposed Origination Period for qualifying single family mortgages (" Mortgage Loans ") of both Escambia County and the Participating County , as well as certain other counties �J which may also participate in joint bond programs ; and :Jl WHEREAS , the aggregation of mortgage loan demand and the securing of the related amount of the cumulative State private activity volume cap (the " Allocation Amount") granted by the State through 2002 (the "Authorization Period" ) for the .9:7 purpose of issuing qualified mortgage bonds to finance qualifying single family ('V MCL-09 / 04 / 01 - 6472 - indrivia 1 October 2 , 2001 68 A 1nr dIJ