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• • <br />RESOLUTION NO. 2002- 065 <br />Section 5. The principal of and premium, if any, and interest on the Bonds <br />and all payments required under the proposed financing agreements, including the <br />Interlocal Agreement, shall be payable solely by the Authonty from the proceeds <br />derived by the Authority under the proposed financing agreements, and Indian River <br />County shall never be required to (i) levy ad valorem taxes on any property within its <br />tentorial limits to pay the principal of and premium, if any, and interest on the Bonds <br />or to make any other payments provided for under the proposed financing agreements, <br />or (ii) pay the same from any funds of Indian River County whatsoever. Adoption of <br />this Resolution does not authorize or commit the expenditure of any funds of Indian <br />River County to pay the costs of issuance of such Bonds. The Bonds are limited, <br />special obligations and will not constitute a debt of the State of Flonda, Indian River <br />County, Escambia County or other participating Counties or the Authority or other <br />participating Housing Finance Authonties, but will be payable solely from payments <br />made from the revenues generated from the Program. <br />Section 6. All resolutions or parts thereof of the Indian River Board in <br />conflict with the provisions herein contained are, to the extent of such conflict, hereby <br />superseded and repealed <br />Section 7. This Resolution shall take effect immediately upon its adoption. <br />Duly adopted in the regular session this 10th day of September, 2002. <br />(SEAL) <br />ATTEST: <br />By <br />Its: Clerk <br />o d of County ommissi ers <br />INDIAN RIVER COUNTY, FLORIDA <br />By: Cmc j1. -4 --•.Pe"`' <br />Ruth Stanbndge, Chairman <br />Board of County Commissioners <br />SEPTEMBER 10, 2002 37 <br />r.? <br />v <br />