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9/30/2015 11:22:07 PM
Official Document Type
Agenda Item Number
Escambia County Housing Finance Authority
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Return to : Attn : Dori Roy 1980509�� / , a003q J 3 <br /> � <br /> IRC Administration THIS DOCUMENT HAS BEEN RECORDEt <br /> 1801 27th Street IN THE PUBLIC RECORDS OF <br /> ATRUECOPY Vero Beach , FL 32960 INDIAN RIVER COUNTY FL <br /> CERTIFICATION ON LAST PAGE BK : 2213 PG : 2400 , Pagel of 7 <br /> 1012312007 at 08:43 AM , <br /> J . K. BARTON , CLERK INTERLOCAL AGREEMENT <br /> JEFFREY K BARTON, CLERK OF <br /> COURT <br /> THIS AGREEMENT made and entered into this 9th day of October, 2007, by and <br /> between the ESCAMBIA COUNTY HOUSING FINANCE AUTHORITY, a public body <br /> corporate and politic organized and existing under the laws of the State of Florida (hereinafter <br /> referred to as the " Escambia Authority"), and INDIAN RIVER COUNTY, FLORIDA, a <br /> political subdivision of the State of Florida (hereinafter referred to as the "Participating <br /> County" ); <br /> WITNESSETH: <br /> WHEREAS, Chapter 159, Part IV, Florida Statutes, (the "Act") authorizes the creation of <br /> housing finance authorities within the State of Florida (the "State" ) for the purpose of issuing <br /> revenue bonds to assist in relieving the shortage of housing available at prices or rentals which <br /> many persons and families can afford; and <br /> WHEREAS, the Escambia Authority by a resolution duly adopted on April 11, 2006 (the <br /> " Enabling Resolution" ), as amended and supplemented, authorized a pian of finance (the <br /> "Plan") for the issuance from time to time of not exceeding $400,000,000 Single Family <br /> Mortgage Revenue Bonds (Multi-County Program) (the 'Program"); and <br /> WHEREAS, the Escambia Authority has indicated that it expects to issue its Single <br /> Family Mortgage Revenue Bonds, initially designated as "(Multi-County Program)," with such <br /> particular Series designation as shall be appropriate (the "Escambia Bonds" or the 'Bonds") in a <br /> principal amount not exceeding $150,000,000, exclusive of any amounts required for refunding <br /> purposes; and <br /> WHEREAS, pursuant to Sections 143 and 146 of the Internal Revenue Code of 1986, as <br /> amended (the "Code"), the amount of mortgage revenue bonds which may be issued in each <br /> year is limited by a private activity volume cap which has been established for such purpose <br /> within the State; and <br /> WHEREAS, the limitations upon available portions of the private activity volume cap <br /> prevents the separate issuance of mortgage revenue bonds for each county from being feasibly <br /> and economically accomplished; and <br /> WHEREAS, the Escambia Authority has authorized a sufficient amount of Escambia <br /> Bonds to fund, refund or refinance outstanding obligations, the proceeds of which will be used <br /> to finance a portion of the anticipated demand during the proposed Origination Period for <br /> qualifying single family mortgages ("Mortgage Loans") of both Escambia County and the <br /> MCPS-09/07/07-6682-County Docs-Indian River FLA-v1 I <br />
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