Loading...
HomeMy WebLinkAbout1995-099RESOLUTION NO. 95- 99 A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, ESTABLISHING ITS INTENT TO REIMBURSE CERTAIN EXPENDITURES IN CONNECTION WITH THE SEA OARS FORCE MAIN PROJECT FROM THE PROCEEDS OF FUTUREBOND ISSUES, AND PROVIDING AN EFFECTIVE DATE. WHEREAS, Indian River County, Florida (the County) expects to make certain expenditures in connection with the Sea Oaks Force Main Project of the County; and WHEREAS, the County intends to reimburse itself for said expenditures from the proceeds of future bond issues; NOW, THEREFORE., BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, that: 1. The County expects to make certain expenditures in connection with the Sea Oaks Force Main Project of the County (the Project.) The County intends to finance said expenditures by the issuance of one or more future bond issues. Some or all of said expenditures are expected to be paid prior to the issuance of said future bond issues. Therefore, said expenditures will be paid from the Utility Operating Fund, the Utility Impact Fee Fund, and the Utility Special Assessment Project Fund of the County. The County intends to reimburse said funds for said expenditures out of the proceeds of said future bond issues expected to be used for said reimbursement is $1,000,000. Said expenditures include, without limitation expenditures for the acquisition, construction, furnishing and equipping the Project; for reports, studies, and projections in connection with the Project; and for other items directly related to the Project. RESOLUTION NO. 95- _ 99- 2. This resolution shall constitute a "Declaration of Offical Intent" within the meaning of Section 1.103-18 of the federal income tax regulations. 3. The Clerk of the Board of County Commissioners is hereby directed to make a copy of this resolution available for public inspection during regular business hours of the Office of the Clerk in the County Administration Building, beginning no later than 30 days following the adoption of this resolution and to keep the same available for public inspection at such place and during such hours until the date upon which the bond issues herein mentioned are issued and delivered by the County. This resolution was moved for adoption by CommissionerFgnert. , and the motion was seconded by Commissioner Bird , and, upon being put to a vote, the vote was as follows: Chairman Kenneth R. Macht Absent Vice Chairman Fran B. Adams Aye Commissioner Richard N. Bird Aye Commissioner Carolyn K. EggertAye Commissioner John Tippin Aye The Chairman thereupon declared the resolution duly passed and adopted this 5 day of sep . mb ,r 1995. BOARD OF COUNTY COMMISSIONERS INDIAN RIVER COUNTY, FLORIDA Attest Jeffr, K, Ba , Clerk l Ce,VL Fran B. Adams, Vice Chairman UWdpror[^.