HomeMy WebLinkAbout1695 certified by the Clerk of the Circuit Court of St. Lucie County,
Florida, is attached to the Complaint as Exhibit "A" and was introduced
into evidence at the final hearing .
4. Plaintiff was subsequently authorized to transact buss-
. Hess and exercise its powers by Resolution No. 80-65, duly adopted by
the Board of County Commissioners of St. Lucie County. Florida (the
"Board") on 7uly 22, 1980, declaring the need for Plaintiff to function
to alleviate a shortage of housing and capital for investment in housing
in the St. Lucie County area. A certified copy of Resolution .No. 80-65
is attached to the Complaint as Exhibit "B" and was introduced into
evidence at the final hearing.
5. The Board, by adoption of Resolution 80-65, appointed a
Chairman of the Plaintiff but did not .appoint any of its members.
Pursuant to Section 159.605(3), Florida Statutes, the Board and said
Chairman have full authority to carry out the powers of Plaintiff under
the Act, and have duly and properly exercised such powers in all
. respects in connection with the authorization of the Bonds described in
paragraph 7 below.
6. Plaintiff has the power and authority under the Constitu-
tion and laws of the State of Florida, including the Act, to (a) issue
II
revenue bonds of the types hereinafter described; (b) use the proceeds
~ from the sale of such bonds to (i) purchase or make commitments to
purchase from lending institutions (as that term is defined in the Act)
F
in St. Lucie County, Florida, mortgage loans, Including federally in-
. sured or guaranteed mortgage loans, and promissory notes executed in
connection with such mortgage loans, made for the construction, pur-
chase, reconstruction, or rehabilitation of qualifying housing develop-
- ments (as that term is defined in the Act) or portions thereof and (fi)
make loans to lending institutions in St. Lucie County, Florida, which
loans shall be used- by the lending institutions to make mortgage loans,
including federally insured or guaranteed mortgage loans for the con-
e struction, purchase, reconstruction or rehabilitation of qualifying hous-
ing developments; and (c) enter into and perform under agreements of
the type attached to or contemplated by the Enabling Resolution refer-
red to in paragraph 7 below. '
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