HomeMy WebLinkAbout1967-003BOARD OF COUNTY COMMISSIONFRS'AESOLIJTION
REQUEST TO BOARD OF HIGHWAY SECONDARY FUNDS
TRUSTEES FOR THE INVF424ENT OF THE HIGHWAY
SECONDARY TRUST FUNDS IN FUEL TAX ANTICIPATION
CERTIFICATES.
NO. 67-3
INDIAN RIVER COUNTY
Upon motion by _qoPLmj�sl.k9nerMASq2EALl— , seconded
by the following resolution was
unanimously adopted:
WHEIMS, by Chapter 63-530, Lawn of Florida, 1963, a
Board of Highway Secondary Rinds Trustees wan created to review
applications from counties of the
� State of Florida to determine
the desirability, necessity, and fiqcal sufficiency for the invest-
ment of Highway Secondary Trust Funds for projects of the counties;
and
UMHEASS, by the Rules Ona Regulations of the board of
Highway Secondary Fund., Trustee:; preliminary approval has been
secured from the State Road Department and a formal resolution
by the Board Of County CoMmissloner.: I* necessary to apply to the
Board of Trusteer, Of the Highway Secondary Trust Funds for the
investment of the Highway Secondary Trust Fbnd:s In fuel tax anti-
cipation certificates to be issued by the State Road Department
on behalf of said county in order t,., i)r,j1;Ide funds for the purchase
of right of way for primary ai)d recc ndary ronel, -,-thin the county,
or for the construction or reconi!truatlon of primary and secondary
roads within the c6unty; and
WHFMAS, said rezolution is to be directed to the Chairman
of the Board of Ifiginoey Secondary Trust Funds Trustees, in care of
the State Road Department, Tallahassee, Florida, in order that therc..
may be initiated action by the Board of Highway Secondary Finds
Trustees to determines
a. The desirability of the project,
b. The necessity of the project;
c. The ability of the borrowing county to repay
the loan within five (5) years; and
BOOK 10 f14(228
Resolution of Board of County Commissioners
Page 2
d. Any other criteria necessary to test the
advisability of continuing with the processing
of the application, which criteria shall be
based upon the project contemplated and may
include, but shall not be limited to, recom»
menda.tione by the State Road Department engineer:
and fiscal officers of the State Road Department.
NOW, THEREFORE, BE IT RESOLVED by the Board of County
Commissioners of Indian River County, at regular meeting
assembled this 19th day of .7anua1 _, 1962_:
Section 1. That the Trustees of the Board of Highway
Secondary Trust Funds are authorized to consider this resolution
as a formal request for the investment, of Highway Secondary Trust
Funds in fuel tax anticipation certificntt3 to be issued by the
State Road Department on behalf of the County of Indian River
in the amount of 500,000 , in order to provide funds for
the purpose of -acquiring the following projects,
SECTION ROAD 2,115, DESCIMIT1011 TYPE 4,,MK
88030 605 Glendale Road to 10th Street 11/W
(Old Dixie) (Vero Beach)
88050 510 SR 5 to West ShoreIndian River 1i/ti`1
(Wabasso Rd.)
88o6o 6o Proposed Interchange I-95 to ffl'C [tit Fi/W
88520 ;,-61l Citrus Road to sjl 60 P/W & Construction
(Clemanno Ave.)
88570 a-607 Suuth Relief Canal to ;m 60 R/%
(Emerson Ave.) & Construction
MOK 10 rm,X 229
Resolution of Board of County Commissioners
Page 3
Section 2. 'Ant the County understands and agrees, upon
receipt of such application by the Chairman of the Board of Highway
Secondary Rinds Trustees, a Meeting of the Board of Highway Secondary
Funds Trustee:: will be called for the purpose of determining*
a. 'Ac desirability of the project;
b. The necessity of the project;
c. The ability of the borrowing county to repay
the loan within five (5) years; and
d. Any other criteria necessary to test the
advianbility of continuing with the processing
of the application, which criteria shall be
based upon the project contomplated and may
inc2udc, but shall not be limited to, rccomw
mendations by the Stat» Road Depnrtment cngincers
and fiqcnl officers of the State Road 0--partment.
Section 3- The County further understands and agrees
that if a majority of the Board of Highway Secondary Funds Trustees
approves and recommends the project, said Board shall, by resolution
indicating approval, report to the State Road Department and in
said resolution shall report their expenses incurred in nttending
any meeting in the performance of their ditties, which expenses
shall be paid from the proeeeds of the nnl,, or tax antici-
pation certificates,
Section 4- 7110 County conzIents, and rgrees to the pledi3c
and the use of eighty (80) per cent surplus gas tax accruing to or
for use in the County for the Tjoyment of the debt service require-
ments of the fuel tcx anticipation certifientes to be Issued by the
State Road Department on behnlf of the County to finance the proposed
project.
Section 5. The County requests that the fuel tax
certificates to be issued mature in the amounts and on the dotes
as follows: 1968 $1.00,000
1.969 100,000
1970 100,000
197.1 100,000
1972 10(),000
BOOK 10 we 230
U
Resolution of Board of County Commissioners
Page It
Section 6. That a certified copy of this resolution be
immediately transmitted to the Chairman of the Board of Highway
Secondary Funds Trusteeu, and directed to its headquarters office
in rare of the Stene Road Department, Tallahassee, Florida.
WITNESSR`u t BOARD OF COUNTY COMMISSIONEPS OF
iTAN COMITY
Rqd ra c,re.-t
STATE OF FIC)YqDA
COU14TY OF INDIAN RIVER
l+ _ % 1d3_IiiiE"s ._....__ w_m, Clerk or the Circuit
Court arid ex -officio Clork of th Board of County Ccrrvnissioners of
.jjWj'k-N-11IVER County, Florida, do Hereby certify that
the above and foregoing is o trur. n:,d Correct; c,',ipy of €t resoluti!,n
adopted by the Board of County of INDIAN RIVER
County, Florida, est jtF, of Ic�Tltary i;' 19 67 , as
the smrto CA, rrtcord its Minute B;"ok ���_ , Pfg1'e ._..
public recordi, of _ Indian River
wv County, Floridra..
WIxtT: E my hand ssctfl oftar.i,a?. ......?. t,rel;> X11_ .day of
Ji, 7 ,
Cl rkr f t rr7 Ctrs tit Gourt a _
ex-offle E, Cli,,r,c oi' the Board
of County