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RESOLUTION 85- 87
RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER
® COUNTY, FLORIDA AUTHORIZING THE DISBURSEMENT OF FUNDS HELD UNDER
THE TERMS OF A TRUST AGREEMENT BETWEEN HARBOR FEDERAL SAVINGS
AND LOAN ASSOCIATION, INDIAN RIVER COUNTY, AND HARBOR FEDERAL
SAVINGS AND LOAN ASSOCIATION.
WHEREAS, Indian River County (County), with the Chairman of
the Indian River County Commission and the Director of the
Office of Management and Budget (Trustees), Harbor Federal
0 Savings and Loan Association (Developer), and Harbor Federal
Savings and Loan Association (Bank), have entered into a cash
deposit and trust agreement; and
WHEREAS, under the terms of said agreement, Developer has
made a written request for disbursement of funds held by the
Bank to guarantee construction of required improvements, and has
submitted an engineer's certification of the completed work,
release of lien statements from project contractors, and
certification from the City of Vero Beach that required
utilities have been constructed and approved; and
WHEREAS, under the terms of said agreement, the Public
Works Director has caused an inspection of the improvements and
has issued a certificate of completion, and recommends a
disbursement of all funds held by the Bank in the trust account.
Now, therefore, be it resolved by the Board of County
Commissioners of Indian River County, Florida that:
Trustees shall make a disbursement of funds
in the amount of $503,191.24 from the trust
account held by Bank to Developer or to any
third party or parties upon which Developer
may otherwise agree.
The foregoing resolution was offered by Commissioner
Scurlock who moved its adoption. The motion was
seconded by Commissioner Wodtke and upon being
put to a vote, the vote was as follows:
Chairman Patrick B. Lyons Aye
Vice -Chairman Don C. Scurlock, Jr. Aye
Commissioner Richard N. Bird Aye
Commissioner Margaret C. Bowman Aye
Commissioner William C. Wodtke, Jr. Aye
The Chairman thereuprtnh declared heteVolution duly passed
and adopted this day of p ,1985.
BOARD OP-I�OUNTY COMMISSIONERS
OF DIAN IVER COUNTY, FLORIDA
L�
Attest:
FREDA WRIGHT,er
STATE.•OF FLORIDA 4 J
COUNTY OF INDIAN RIVER
e®
•
RESOLUTION 85-
09), a- � �v
I HEREBY CERTIFY that on this day, before me, an officer d y
• authorized in this State and County to take acknowledgeme ts,
personally appeared PATRICK B. LYONS and FREDA WRIGHT, as
Chairman of the Board of County Commissioners and Clerk,
respectively, to me known to be the persons described in and who
executed the foregoing instrument and they acknowledged before
me that they executed the same.
WITNESS my hand and official seal in the County and State last
�4 aforesaid this ,aIc. day of A.D., 1985.
APPROVED AS TO FORM AND LEGAL
SUFI'I�
BY: _ (g4i� CHARLE
County Attorney
N , y I i c
AOTARY PUBLIC STATE OF FLORIDA
BONDED THRU GENERAL WSURANCE UND.
MY COMMISSION EXR((RJS�JULY 8 1986