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RESOLUTION NO. 96- 29
A RESOLUTION OF TEE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER
COUNTY, FLORIDA, ESTABLISHING ITS INTENT TO REIMBURSE CERTAIN
EXPENDITURES IN CONNECTION WITH THE CITY OF SEBASTIAN WATER
EXPANSION PLAN, PHASE III PROJECT FROM THE PROCEEDS OF FUTURE
BOND ISSUES, AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, Indian River County, Florida (the County) expects
to make certain expenditures in connection with the City of
Sebastian Water Expansion Plan, Phase III Project of the County;
and
WHEREAS, the County intends to reimburse itself for said
expenditures from the proceeds of future bond issues;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, that:
1. The County expects to make certain expenditures in
connection with the City of Sebastian Water Expansion
Plan, Phase III Project of the County (the Project.)
The County intends to finance said expenditures by the
issuance of one or more future bond issues. Some or
all of said expenditures are expected to be paid prior
to the issuance of said future bond issues. Therefore,
said expenditures will be paid from the Utility
Operating Fund, the Utility Impact Fee Fund, and the
Utility Special Assessment Project Fund of the County.
The county intends to reimburse said funds for said
expenditures out of the proceeds of said future bond
Issues expected to be used for said reimbursement is
$2,900,000.00. Said expenditures include, without
limitation expenditures for the acquisition,
construction, furnishing and equipping the Project; for
reports, studies, and projections in connection with
the Project; and for other items directly related to
the Project.
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RESOLUTION N0. 96- 29
2. This resolution shall constitute a "Declaration of
Offical Intent" within the meaning of Section 1.103-18
of the federal income tax regulations.
3. The Clerk of the Board of County Commissioners is
hereby directed to make a copy of this resolution
available for public inspection during regular business
hours of the Office of the Clerk in the County
Administration Building, beginning no later than 30
days following the adoption of this resolution and to
keep the same available for public inspection at such
place and during such hours until the date upon which
the bond issues herein mentioned are issued and
delivered by the County. This resolution was moved for
adoption by Commissioner Eggert—, and the motion
was seconded by Commissioner Bird , and,
upon being put to a vote, the vote was as follows:
Chairman Fran B. Adams Aye
Vice Chairman, Carolyn Eggert Aye
Commissioner Richard N. Bird Aye
Commissioner John Tippin Aye
Commissioner Kenneth R. Macht Aye
The Chairman thereupon declared the resolution duly passed
and adopted this 20 day of February, 1996.
BOARD OF COUNTY COMMISSIONERS
INDIAN RIVER COMM, FLORIDA
is 1'r
Attest:
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Fran B. Adams, Chairman
indien r.wiv GAOGroved Ole
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