Loading...
HomeMy WebLinkAbout1962-014Cow"INI 'f!0 =nae ,ON Dial" SIM COWIV* Me! AND ilia �M ' 88 IT RESOLVED that the Hoard ad County Caunissieners ag Isdian River County, Florida, does hereby redwrt the Florida Dsvelopasat Cos• mission to issue and sell interest boWUM beads in the arms of $400,000 - in its own name for and on behalf of Indian liver County, Florida, far the purpose of financing the construction of roads sad bridges within Indian River County, Florida, and the acquisitica of rights of way for such roads and bridges, as follovs: (1) Construction of a bridge over the Sebastian Inlet in part; (2) Construction of approaches, in part, to such bridge; (3) Construction of State Road A -1-A from such approaches southerly to that part thereof which is already paved. i bf IT FURTHER RESOLVED that said interest bearing bonds be issued for a term of five (5) years, repayable $45,000 at the end of the first year, $80,000 at the end of the second year, $85,000 at the end of the third year, $90,000 at the end of the fourth year and $100,,000 at the end of the fifth year, at a rate of interest not to exceed 5% per anus. BE IT FURTHER RESOLVED that the Florida Development Commission construct said bridges by and through its statutory agent, state Road Department of the State of Florida. BE IT FURTHER RESOLVED that all such bosds,issued by the Florida Development Commission pursuant to this resolution, be secured by and payable, as to both principal and interest, vhoaly from the 80% surplus gas tax accruing to the benefit of Indian River County, Florida, under the provisions of Section 18, Article IR, of the State Constitution. A'A34 Upon Motion made by Commissioner Macdonald, seconded by Commissioner Hamilton and unanimously carried, the following Resolu- tion was adopted. RESOLUTION REQUESTSNG THE STATE ROAD BOARD TO APPROVE THE PROCESSING OF A $400,000 INDIAN RIVER COUNTY BOND AND BRIDGE REVENUE BOND ISSUE WHEREAS, the Board of County Commissioners of Indian River County, Florida, are desirous of issuing $400,000 of road and bridge revenue bonds to be paid for over a period of five (5) years from the 80% surplus gas tax accruing to the benefit of said Indian River County under the provisions of Section 16, Article IX of the State Constitution, and, WHEREAS, the State Road Department of Florida has asked the Board of County Commissioners of Indian River County, Florida, to adopt a resolution requesting the State Road Department to proceed with the Processing of such a bond program, the proceeds of which are to be used as a contribution toward the project as outlined below, and has requested the county{to list the proposed road and bridge projects to be included therein: NOW, THEREFORE, BE IT RESOLVED, that the Board of County Commissioners of Indian River County requests the State Road Department to proceed with the processing of a $400,000 bond issue; and, BE IT FURTNER RESOLVED, that the road and bridge projects as listed below be included in said proposed road and bridge revenue bond issue, to wit: (1) Construction of a bridge over the Sebastian Inlet to part; (2) Coastructiou of approaches, in part, to such•bridge; (3) C"str%ctioa of State Read A -1-A from such approaches Ooetherly to that part tbsreof which is already paved. Wpmn PeWa made by Csemissiomer Macdonald, seconded by Cemmiselomer Mewl.;* am 1"Simemsly can' Ledo the following Resolution via adepted:.