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• • <br />TO: Members of the Board of County Commissioners <br />DATE: September 4, 2002 <br />SUBJECT: TEFRA (TAX EQUITY FISCAL RESPONSIBILITY ACT) HEARING <br />ES CAMBIA COUNTY HOUSING FINANCE AUTHORITY <br />SINGLE FAMILY MORTGAGE REVENUE BONDS, SERIFS 2003A <br />FROM: Joseph A. Baird (o, <br />P i; t ; <br />Assistant County Administrator ;; c��,r_ <br />The Board of County Commissioners at its regular meeting of August 20, 2002, scheduled a <br />TEFRA (Tax Equity Fiscal Responsibility Act) hearing for September 10, 2002, to enable <br />Escambia Housing to apply for Region 9 Industrial Bond Allocation from the State. This will <br />allow the Escambia County Housing Finance Authority to issue Single Family Mortgage <br />Revenue Bonds, Series 2003A, in a principal amount not to exceed 5150,000,000.00 <br />Following the Public Hearing, if the Board of County Commissioners wishes to grant Escambia <br />Housing the ability to apply for the Industrial Revenue Bond Allocation in Region 9, the Board <br />must approve the Resolution, Interlocal Agreement and authorize the Chaiinian and staff to sign <br />all necessary documents. <br />RECOMMENDATION <br />Staff recommends that the Board of County Commissioners approve the Resolution and <br />Interlocal Agreement and authorize the Chairman to sign all necessary documents. <br />ATTACHMENTS <br />Notice of TEFRA Hearing <br />Summary of Program <br />Resolution & Interlocal Agreement (Exhibit A) <br />Notice of Intent to Issue Bonds and Request for Written Confiiivation <br />The Chairman opened the public hearing and asked if anyone wished to be heard <br />regarding this matter. There being none, the Chairman closed the public hearing. <br />ON MOTION by Commissioner Ginn, SECONDED by <br />Commissioner Adams, the Board unanimously approved the <br />Interlocal Agreement with the Escambia County Housing Finance <br />Authority; authorized the execution of the documentation; and <br />adopted Resolution 2002-065 authorizing the Escambia County <br />Housing Finance Authority to operate within the boundaries of <br />SEPTEMBER 10, 2002 33 <br />