HomeMy WebLinkAbout0985 of investment by private enterprise and the stimu-
lation of construction and rehabilitation of
housing through the use of public financing;
(c) Because of economies of scale, time con-
siderations and other factors, it is advantageous
economically and otherwise and thus, there is a
need for the Polk Authority to operate within the
territorial boundaries of the County with respect
to the issuance of its Single Family Mortgage
Revenue Bonds, and the use of a portion of the
proceeds thereof to acquire mortgage loans from
persons and families of moderate, middle or lesser
income within the County (the "Single Family
Mortgage Loan Program").
SECTION 2. The o~eration of the Polk Authority
within the territorial boundaries of the County in regard to
the Single Family Mortgage Loan Program is hereby authorized
and approved.
i SECTION 3. The Governing Body, on behalf of the
` County, hereby covenants and agrees not to authorize the is-
suance of any single family mortgage revenue bonds prior to
~ the issuance of the Housing c^inance Authority of Polk ,
~ County, Florida, Single Family Mortgage Revenue Bonds as
~ contemp~ated herein.
~ SECTION 4. This Resolution shall become effective
~ immediately upon its adoption.
~ APPROVED AND ADOPTED by the Board of~ County
;nmissioners of St. Lucie County, Florida, this c~'~ day of
, 1985 .
~l~
~ . . .
~ ~~~r BOARD OF COUNTY COMMISSIONERS,
- •~j ~ 24 ~2;2o St. Lu~ie Ccunty, Florida
~ , _
~ . • (SEAL ) ~ ~
~ _ _ - , FiLE~, : i i ~ BY = ~ `
; - - ' „ ' _ ~ ROGER F ' 'F ~ Chai rman
•-~1'TT~STED : 5T. LUC;E - • ~
~
~ . .
~ ~ e~ C~Q~'~'~~-~-
~ 1~ Cler of the Board of County
Co ssioners of St. Lucie
~ County, Elarida r;~±
~ ~~~K454 F~~;E '~8:3
~ SLr1:23
~ 3
~
r
~
~ - ~ ~