HomeMy WebLinkAbout1973-0530
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RESOLUTION NO. 73-53
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WHEREAS, Indian, River County, a political subdivision of
the State of Florida (hereinafter called applicant), wishes to
make application to the.State of Florida Department of Pollution
Control (hereinafter called Department) for a loan from the
Department under Section 403.1835, Florida Statutes, and
Chapter 17-15, Florida Administrative Code, to provide interim
financing for acquiring lands and constructing sewage treatment
facilities if the Department approves a permanent financing
plan for the applicant through participation in the state pollu-
tion bond loan program pursuant to Article VII, Section 14,
Florida Constitution, or through the issuance of local bonds,
evidences of indebtedness, or other acceptable methods of
repayment;
WHEREAS, This resolution is adopted for the purpose of
I) making application to the Department for the purpose of
obtaining such a loan, now, therefore,
BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF INDIAN
RIVER COUNTY, FLORIDA, as follows:
I� Section 1. The applicant has the legal authority to
execute a loan agreement with the Department, as contemplated
+ by this resolution.
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Section 2. The applicant will comply with all regulations,
rules and guidelines of the Department and such other state
agencies, if any, that are concerned with the sewage treatment
revolving loan program of the state, and this applicant :ill
furnish all infoi:wati.on required by the regulat=ions and rules
of the Department.
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Section 3. The applicant has and will have revenue or
other funds sufficient to repay the loan in the prescribed time
period, as required by Subsection 17-15.04(1) (c), Florida
Administrative code.
Section 4. The applicant will apply and use any funds
received from the sewage treatment revolving loan for the
purposes for which they are furnished and will render such
accountings of such funds as may be required by the Department.
Section 5. The purpose or purposes for which the funds
obtained from the sewage treatment revolving loan will be used
are:
IITo provide interim financing for acquiring lands and
constructing sewage treatment facilities in the eastern half of
IIndian River County.
I Section.6. The interest payments to be made by the appli-
cant under the loan agreement with the Department shall be at
the same rate as that paid on the last bonds sold pursuant to
Article VII, Section 14, Florida Constitution, or five per cent
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(5%), whichever is less; provided, however, the interest rate I
during the first twelve (12) months of any loan shall be one
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�i half of the above determined rate.
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Section 7. The facts and representations made in the
�j application submitted to the Department relating to the subject
matter of the resolution are made a part hereof by reference.
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Section 8. All prior resolutions relating to the subject
matter of this resolution are amended to conform to this
resolution to the extent of any inconsistencies with it, and
such prior resolutions shall. remain in full force and effect
except as so amended.
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Section 9. The following officer of the applicant, namely
Jack G. Jennings, Indian River County Administrator, be and he
is hereby authorized to represent the -'applicant and is hereby
authorized and directed to execute a loan agreement with the
Department on behalf of the applicant, -
Section 10. This resolution shall take effect immediately.
ADOPTED THIS 20th DAY OF JUNE, 1973.
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ATTEST:
Ralph Harris,.by
Clerk
BOARD OF COUNTY COMMISSIONERS
INDIAN RIVER COUNTY, FLORIDA
_ By
Alma Lee Loy, Chairman