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• <br />execution and delivery of an interlocal agreement with the <br />Florida Housing Finance Corporation; and providing an <br />effective date.) <br />RESOLUTION NO. 2002-034 <br />RESOLUTION EXPRESSING THE IIN-TENT OF THE BOARD OF COUNTY <br />COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA TO PROCEED IN <br />CONJUNCTION WITH THE FLORIDA HOUSING FINANCE CORPORATION <br />WITH THE FINANCING OF A MULTIFAMILY RESIDEN'T'IAL RENTAL <br />HOUSING PROJECT THROUGH THE ISSUANCE BY FLORIDA HOUSING <br />FINANCE CORPORATION ON BEHALF OF ITSELF AND INDIAN RIVER <br />COUNTY OF ITS NOT TO EXCEED $13 800,000 MULTIFAMILY HOUSING <br />REVENUE BONDS FOR THE BENEFIT OF THE PALMS AT VERO BEACH <br />LIMITED PARTNERSHIP A FLORIDA LIMITED PARTNERSHIP, <br />APPROVING THE ISSUANCE BY THE FLORIDA HOUSING FINANCE <br />CORPORATION OF ITS MULTIFAMILY HOUSING REVENUE BONDS (THE <br />PALMS AT VERO BEACH PROJECT) IN THE AGGREGATE PRINCIPAL <br />AMOUNT OF NOT TO EXCEED $12,300 000 ON BEHALF OF ITSELF AND <br />INDIAN RIVER COUNTY TO PROVIDE FUNDS TO FINANCE A <br />MULTIFAMILY HOUSING PROJECT; APPROVING THE FORM OF AND <br />AUTHORIZING THE EXECUTION AND DELIVERY OF AN INTERLOCAL <br />AGREEMENT WITH THE FLORIDA HOUSING FINANCE CORPORATION; <br />ANI) PROVIDING AN EFFECTIVE DATE. <br />WHEREAS, the Florida Housing Finance Corporation ("Florida Housing") is a public body <br />corporate and politic, duly organized and existing under the provisions of Chapter 420, Florida <br />Statutes, as amended and supplemented; and <br />WHEREAS, The Palms at Vero Beach Limited Partnership, a Florida limited partnership <br />(the "Developer"), has requested the Board of County Commissioners (the `Board") of Indian River <br />County, Florida (the "County") to apply on behalf of the Developer for an allocation of bond volume <br />in a principal amount of not to exceed $1,500,000, to be used by Florida Housing in combination <br />with Florida Housing's bond volume allocation in an amount not to exceed $9,300,000 together with <br />taxable bonds in an amount estimated at $2,970,000, and issue Florida Housing's Multifamily <br />Housing Revenue Bonds, Series [to be determined] (The Palms at Vero Beach Project) (the <br />"Bonds"), the proceeds of which would be used to (i) pay or reimburse the Developer for the cost <br />June 4, 2002 <br />59 <br />• <br />., <br />st nc:f. <br />76I <br />