HomeMy WebLinkAbout1995-160RESOLUTION NO.
A RESOLUTION OF THE BOARD OF COUNTY COXXXSBIONERS OF
IWDIAN RIVER COUNTY, FLORIDA, ESTABLISHING ITS INTENT
TO REIMBURSE CERTAIN EXPENDITURES IN CONNECTION WITH
THE C.R. 510 FORCE MAIN FROM THE BEACH AREA TO U.B.
HIGHWAY ONE FROM THE PROCEEDS OF FUTURE BOND ISSUES,
AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, Indian River County, Florida (the County) expects
to make certain expenditures in connection with the C.R. 510
Force Main from the Beach Area to U.S. Highway One 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 C.R. 510 Force Main from the Beach
Area to U.S. Highway One 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. The maximum principal amount 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; for engineering, surveying, and legal
work in connection with the Project; and for other
items directly related to the Project.
2. This resolution shall constitute a "Declaration of
Official Intent" within the meaning of Section 1.103-16
of the federal income tax regulations.
3. The Clerk of the Board of County Commissioners of the
County 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 shall take effect immediately upon its
adoption.
The resolution was moved for adoption by Commissioner
Eggert , and the motion was moved for seconded by
Commissioner Adams , and, upon being put to a vote,
the vote was as follows;
Chairman Kenneth R. Macht Aye
Vice Chairman Fran Adams Aye
Commissioner John W. Tippin Aye
Commissioner Carolyn Eggert Aye
Commissioner Richard Bird Aye
The Chairman thereupon declared the resolution duly passed
and adopted this 19 day of December , 1995.
Att�ls�,
K., Ba eur
BOARD OF COUNTY COMMISSIONERS
INDIAN IVER COUN Y, RIDA
By
enne-h R. M cht, Chairman
"^'n R'Ner Co Aprrowd I 0-'e
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