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WHEREAS, the Board conducted a public hearing on April 10, 2001, notice of which hearing was published on March 22, 2001, in the Press -Journal (a copy of which notice is attached hereto as Exhibit "A" and incorporated herein), for the purpose of considering the issuance of the Bonds by Florida Housing on behalf of itself and the County, in accordance with the requirements of Section 147(f) of the Internal Revenue Code of 1986, as amended (the "Code"). Said public hearing disclosed no reason why the Bonds should not be issued; and WHEREAS, Section 147(f) of the Code requires approval of the issuance of the Bonds by the Board as the "applicable elected representative' under Section 147(f) after a public hearing following reasonable public notice; NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, as follows: SECTION 1. The Board, pursuant to, and in accordance with, the requirements set forth in Section 147(f) of the Code, hereby approves the issuance of the Bonds by Florida Housing on behalf of the County and Florida Housing. The Board has found and detemuned and hereby declares that it is in the best interest of the County to enter into an Interlocal Agreement with Florida Housing. The execution and delivery of the Interlocal Agreement, authorizing Florida Housing to issue its Florida Housing Multifamily Housing Revenue Bonds, Series [to be determined] to finance the cost of acquisition, construction and equipping a multifamily residential rental apartment project in the County, the proposed form ofwhich is attached hereto as Exhibit "B" (the "Interlocal Agreement") is hereby authorized. The form of the Interlocal Agreement attached hereto as Exhibit "B" is hereby approved, subject to such changes, insertions and omissions and such filling in of blanks therein as may be approved and made in such form by the officers of the Board and Florida Housing executing the same, such execution and delivery to be conclusive evidence of such approval. SECTION 2. The Chairman or Vice Chairman and the Clerk or Assistant Clerk of the Board are hereby authorized and empowered to execute and deliver the Interlocal Agreement, subject to such changes, modifications, additions, deletions and substitutions as such officers executing the same shall approve, such execution to be conclusive evidence of such approval and to affix thereto or impress thereon the seal of the County. APRIL 10, 2001 -48-