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RESOLUTION NO. 2005- 125
A RESOLUTION OF THE BOARD OF COUNTY
COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA
ESTABLISHING ITS INTENT TO REIMBURSE CERTAIN
CAPITAL COSTS INCURRED WITH PROCEEDS OF FUTURE
TAX-EXEMPT FINANCING; PROVIDING CERTAIN OTHER
MATTERS IN CONNECTION THEREWITH; AND PROVIDING
AN EFFECTIVE DATE.
WHEREAS, the Board of County Commissioners of Indian River County, Florida (the
"Issuer") has determined that the need exists to protect water resources and drinking water,
environmentally significant land, historic sites, agricultural lands and lands for open spaces
and/or wildlife habitat within Indian River County;
WHEREAS, on June 22, 2004,the Issuer adopted Resolution No. 2004-062, calling for
a bond referendum asking whether Indian River County should be authorized to acquire and
preserve land to protect water resources, drinking water sources, environmentally significant
lands, historic sites, agricultural lands, open spaces, and/or wildlife habitat, and issue bonds
therefor, all as more specifically set forth in Resolution No. 2004-062 (the "2004
Referendum");
WHEREAS, on November 2, 2004, the Issuer conducted the 2004 Referendum, and
the 2004 Referendum was approved by a majority of the voters voting thereon;
WHEREAS, to assist in effectuating the purposes of the 2004 Referendum, the Issuer
desires to provide for reimbursement as set forth herein.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA THAT:
SECTION 1. AUTHORITY. This Resolution ("Resolution") is adopted pursuant to the
provisions of the Florida Constitution, Chapter 125, Florida Statutes, as amended, and other
applicable provisions of law.
SECTION 2. DECLARATION OF INTENT. The Issuer hereby expresses its intention
to be reimbursed from proceeds of a future tax-exempt financing for capital expenditures to
be paid by the Issuer in connection with the acquisition of lands to protect water resources
and drinking water, environmentally significant land, historic sites, agricultural lands and lands
for open spaces and/or wildlife habit(collectively,the"Projects"). Pending reimbursement, the
Issuer expects to use funds on deposit in the general fund or otherwise legally available to the
Issuer to pay costs of acquisition of the Projects. It is not reasonably expected that the total
amount of debt to be incurred by the Issuer to reimburse itself for expenditures paid with
respect to the Project will exceed $50,000,000. This Resolution is intended to constitute a
"declaration of official intent" within the meaning of Section 1.150-2 of the Income Tax
Regulations.
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RESOLUTION NO. 2005- 125
SECTION 3. SEVERABILITY. If anyone or more of the provisions of this Resolution
shall for any reason be held illegal or invalid, such illegality or invalidity shall not affect any
other provision of this Resolution, but this Resolution shall be construed and enforced as if
such illegal or invalid provision had not been contained therein.
SECTION 4. REPEALING CLAUSE. All resolutions or orders and parts thereof in
conflict herewith to the extent of such conflicts, are hereby superseded and repealed.
SECTION 5. EFFECTIVE DATE. This resolution shall take effect immediately upon its
adoption this 23rdday of August , 2005.
This Resolution was moved for adoption by Commissioner Davi s , and
the motion was seconded by Commissioner Bowden , and, upon being put to a
vote, the vote was as follows:
Chairman Thomas S. Lowther Aye
Vice Chairman Arthur R. Neuberger Aye
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Commissioner Wesley S. Davis Aye
Commissioner Gary C. Wheeler Aye
Commissioner Sandra L. Bowden Aye
The Chairman thereupon declared this Resolution duly passed and adopted this 23rd
day of August, 2005.
Attest: K. Barton, Clerk INDIAN RIVER COUNTY, FLORIDA
B
BOARD OF COUNTY COMMISSIONERS
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Deputy Clerk _ By ,
CA4—
Thomas S. Lowther, Chairman
(SEAL)
Approv d to form and legal sufficiency:
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Assistant County Attorney