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HomeMy WebLinkAbout0983 u' - ~ Fj~~~ijr RESOLUTION NO. bs ~ ~3 A RESOLUTION OF THE BOARD OF COUNTY COM- MISSIONERS OF ST. LUCIE COUNTY, ELORIDA, ~ APPROVING THE OPERATION OF THE HOUSING EINANCE AUTHORITY OF POLK COUNTY, FLORIDA, WITHIN THE TERRITORIAL BOUN- DARIES UF ST. LUCIE COUNTY EOR THE PUR- POSE OF PURCHASING FROM LENDING INSTITi1- TIONS LOW-INTEREST RATE MORTGAGE LOANS TO MODERATE, MIDDLE AND LESSER INCOME FAMIL- IES WITHIN ST. LUCIE COUNTY WITH THE PROCEEDS FROM THE SALE OF HOTJSING FINANCE AUTHORITY OF POLK COUIVTY, FLORIDA, SINGLE FAMILY MORTGAGE REVENUE BONDS; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the Board of County Commissioners of St. ; Lucie County, Florida (the "Governing Body"), by Ordinance No. 80-3, enacted on July 22, 1980, created the Housing { Finance Authority of St. Lucie County, Elorida (the "St. - ~ Lucie Authority"), to alleviate a shortage of housing and capital for investment in housing in St. Lucie County, - ~ Florida (the "County"); and ~ : € ~ WHEREAS, the Governing Bo3y by Resolution No. ~ 80-65, adopted on .iuly 22, 1980, found and declared that a need existed for the St. Lucie Authority to function to al- ; leviate a shortage of housing and capital for investment in . housing within the County; and WHEREAS, pursuant to Section 103A of the Interr.al Revenue Code of 1954, as amended, the amount of mortgage ~ subsidy bonds which may be issued by any county in any year ~ is limited to an allocation amount which has been esta--" ~ blished by the State of Florida (the "Allocation Amount"); ~ and ~ ~ WHEREAS, Sections 159.603 and 159.604, Florida Statutes, authorize the Governing Body as the governing ~ body of the County to approve the operation of the Housing ~ Finance Authority of Polk County, Florida (the "Polk ~ Authority") within its territorial boundaries; an3 ' ~ WHEREAS, by Resolution No. 84-104, the Governing ~ Body has previously authorized the operation of the Polk ~ Authority within the territorial boundaries of the County, and pursuant to such authority the St. Lucie Authority par- s t R ~ ~ {~P (~p 3i'.~K ~5~ P!GE JO~ • ~ ~ z"°~ ~ ; 'sm~'`~" z,~" c'~9~- ~~~=•;n_ 'a°'