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USDA•FrnHA FORM A"110'4o
norm Fro1{A 194247 LOAN RESOLUTION No. -153 00,411 NO.01'"(sto
May. 349) (Public fiodtae)
A RESOLUTION OP THE __BOARD OF COUNTY COMMISSIONERS
OP THE: COUNTY OF INDIAN RIVER, FLORIDA
AUTHORIZING AND PROVIDING FOR THE INCURRCNCTJ OF INDPOTEDNI!55 FOR THE PURPOSC OF PROVIDING A
PORTION OF THE COST OF ACQUIRING, CONSTRUCTING, ENLARGING, IMPROVINCJ, AND/OR EXTENDING ITS
COMBINED WATER ANI) SI'MR SYSTEM
FACILITY TO SERVE AN AREA )-AWFULLY WITHIN ITS JURISDICTION TO SERVO
WHERE.AS,It Is necessary for the County of lndian River, Florida
(&Nf,
(herein after called auodadon) to tilt* a,portion or the cost of sueh undertaking by t"wrice of fit bonds In the principal remount of
Four Hundred Fifty Thousand Dollars ($450,000)
pvnuent 10 the provisions of a r"e o�.utdost
WHEREAS, the association Intends to obtain atslitince from the Farmers Boma Administration, Unfled Statts Rapsonvont of Aiiricul-
tura, (herein colied the Govetnment) acting under the provisions of the Consolidated Farm and Ruta, Dertlopment Act (7 U.S.C. 1921
et seq.) In the planning, financing, and supctvislon or such undertaking and to purchasing of bonds lawfully ittucd, In the event that nu
other accaptablo purchaser for such bonds Is found by the ssiodilion:
NOW THEREFORE, in cohlldetition of 14* promises the association hereby rtioivet.
I To hawptapered on Its behalf and to adopt an ordinenco.ot resolution for the luuince ofits bonds and containing such
Items and in such forms aro required by STATE stitutot and it ata agt*sblo and accoptiblo to the Govtrnnxni.
2. To renninoo the unpaid b0trIct, in whole or In ppe�rt, of its bonds upon the rtqucit of the Govtrnmeni if at Any time it
shall apPast to the Government that the issocfttton It Able to rennance Its bonds by obtsining a loin for such ur"ss
from responsiblo cooperative of privet, sourcoi it reasonable totes and terms tot loins for similarurppootat And Periods
of dme as required by section d39(c) of tied Consolidated Farm And Rural Dovalopmant Act (7 U.S,J 1983(c)).
J. To protide for, *x*eutt, and comply cvlth Form PmHA 400-4, "Assurinca Agreement"; end Form FmIIA 4004 "£uta
Opportunity Agreement", including in "Equal Opportunity Clause", which clans* it to be Incorporated in, or att"E d
as a rider to,ear,h construction contract end tubcontract Involving in ex"ti of sioXo.
A. To tnd*mnfry the Govtr-nrnont rot any payments made or fosses suffered by Ilio Govcmment on bthilf of the .
issociatl
Such Indemnification shall be payable from the same sourc* or funds pledgtd to pay the bwids or any othor itpel onon.
mitsibls source,
S. That upon dertutt in Ilia payments of any poncipAt and accrued interest on the bonds or in the perrorminet of any cov.
avant or agreement contained hertin or to the Instrument Incident to making or insuring tha loan, the Goverrimcni U
Ito oplton may (i) declare the entire principal amount then outstanding and Accrued Interest Immodiately due and lay.
able (b) for the account of the issotiatlon (payable from the sourco of funds pledged to pay the bonds or any other
Iogally ppeermissible source) incur and fwy reasonable expenses rot repair, maintenance, And oporAtion or the facility and
such other reaaoneblc expenses as may be necessary to cure the cAuse of detudt, and/or (c) lake potlassion or the fsdhty,
ropilt, maintain, and operate or rent it. Default under the provisions of this Resolution or any lnsiturrunt Inddent to the
m&Mn; or insuring of the loan may be construed by the GMornmsnt to constltuto deratdt under any other Instrumont
hold by the Government and executed or astumod by the Association, and default under any such lnstrunxni mAy be
construed by the Government to comiltute default hereunder,
6. Not to sell, trintfer, lease, or otherwise encumber the facility of any Ivrilon thertor, or interest therein, not porr�t others
to do so, without the prior written consent of the Government.
7. Not to borrow any money front any source, enter into Any contract or agreement, or incur Any other liabilities In con.
nsction with mAking enlargements, Improvements or extensions to,mor rot Any other putpota in contr►etion w
(AcUiy w (excluilor normil main(enance) without the prior written coont of tht Government it such unith the
dortaki w would
involve the source of funds pledged to pry the bonds.
8. To place the proceeds or tilt bonds on deposit In an Account and In is manner approved by the Govarorv%ant, Punda may bt
deposited in Institutions Insured by the State or Federal Government or invested In rcadlfy marketable ►rciritici backed by
the full filth and credit of the United Starts. Any income from thele attoutus will bo considered as otthe tystam,
9. To eumply with all applicable State and Frevenues
Cdc(AI laws and regulations and to continually aparatt and inaues of the fecUlsy
In good condition,
10. To provide for the receipt or adequate revenues to meet the requlrenitnta of debt sertice, oporation and imIntenince, and
the establishment of adequate restrvcs. Revenue Accumulated over and above that needed to Pay ofxrsting and m.Ainte.
used
to pay debt
expensses wlilchreserves
nsot dirrectly Incurred byrti eafacilityannanrcc4 by FmHA,tNoments on hei(ice service or use of toan. I(tNenuc cin nothe ft il•
Ity will be permitted.
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A
1
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11, To sequin Ltd maintaln such Inturince coverage Including fidelity bonus At may ba tequlled by the 0"rnrmnt. 2
12. To ettablith and maintain such books and records relating to the OPOrAtlon of the fAcility and Its ltnandal affairs and to
provide for-quirad audit thereof in such a manner as may be required by the Government, to provldt the t�ovemrrvant
And reports
Its request, a copy of each such audit, and to make end forward to the Government tush additional lnforrmtlon
end repose at !t may from tlrna to time require,
17. To provide thv Government it all reasonable times access to'all books and records toluing to the facility and access to
the property of the rystam Ao that tiro Government may /scortsin that the association Is oamplying with rho provision,
hereof and of the instruments Incident to the making of Imwing of the loan.
la. 1n coos where the Oovarnmont requires b lust t retttve Aecomt be establlthed and malnsu
tAlned, when necery,dtsbune-
menta from the resarw account may be used (Of payments due on the bond If sufficient Nods are not avaliable to the
gcnttral or debt aerviLt accounts. With the priot written approval of the Government, funds troy be wlthdraWn for:
(e) Paying the cost of repairing or replacing any danisgo to the facility which may have been caused by atIlImphe.
(b) Repalting of roplAcing short-11vod seats.
(c) Making oxtensiont or improvements to the facility.
Any time funds are disbursed from the resorvo suount, additional deposits will be required until the reserve account has
reached the required funded level.
13. To protide adequate scrvlce to all persons within the service area who can feasibly and legally be served And to obtain
FmHA'sfeasi le and oeAl,"ca utter to on th ll new or ad
aquale sonioes to such persons, Upon (ailuro to provide services which
aro mingle and Iera1, such rattan shalt have s direct right of Action ageinet the association of public body.
16. To comply wit}s the measurer Idenufted in the Govemnvant's environmental impact analysis for this facwty (or Lha pur•
pose of svolding or reducing the adverse onvironmontal impaCl Of the facility's construction or operation,
17. to the cast of A trent In the sum not to exceed S . 950 , 000 , 00
the association
hereby accepts the pant under the terms a offend by the Government and that the Cha i r mon
and rlr k rn the I3�arc1 of the wociation ate hereby suthoritod Ind empowered to take all action necouary
or Appropriate In the execution of All written Instruments as may be required in regard to or as evidence of such grant And
the uwclation hereby resolve$ to operate the (Acdlty under the term, a ofrored In said grant agreement(s).
The providons hereof And the provision, of all Instrurnenta incident to the snaking or Qre truuting of the loan, urdou odlcrwise
s ,tureduo
by
,lly provided by the terms of such in,
lruurod , 1411 be binding upon the aefatlon'as long a rho bonds Le held or
the Government or Assignee, The provisions of sections 6 tivrough 17 hereof may be provided for In more specific
detail in the bond resolution or ordinance; to the extent that the provisions contained In such bond resolution or ordinance
,houid be found to be inconsistent with Qre provisions hereof, these provisions thaU be construed as eontrou ng u bo%een the
association and the Oovernmont or assignee.
The vote wet Yeas 5 Na A._,__
Y � Absent
IN WITNESS WHURHOTa, the board of County Commissioners
"`_--..--•--' of
Coun_t:y of Indian River, Florida the
has drily adopted this Resolution and cawed
to be sxecutod by the ofllcora MOW In duplicAle on this 12th December
day of ...._.�..,, 19-2—`i,
(S P. L)
rlttoat:
J ey K i3arCon� Q Ct£/tst8zre,ae.""-
Tids Clerk
Count of Indian River, Florida
I/V . !`!
y� t � �
Gary/ W veeLYer
Title Cha ,man
APPROVED AS TO ('ORM
AND LEGAL SUFFIC;IFNCY:
Charlos P. Adis,=lac
» County Attorney