Resolution 439-1990
Management Services Division
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RESOLUTION NO. 439-1990
'91 AUG 23 r' I .00 "-
A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS
OF rH.9A~OE "COV~fl'Y, FLORIDA, AUTHORIZING THE
SUBO'RDt~AT~~N',_0F -A MORTGAGE HELD BY THE COUNTY ON
THEM~:P1i~ lInK., AFFORDABLE HOUSING PROJECT IN
MARATHON IN RETURN FOR CERTAIN CONSIDERATION AND
PROVIDING THAT THE MAYOR IS AUTHORIZED TO EXECUTE
ON BEHALF OF THE COUNTY ANY DOCUMENTS NEEDED TO
CARRY OUT THE SUBORDINATION.
BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF
MONROE COUNTY, FLORIDA,
Section 1.
That the Mayor jChairman of the Board hereby
consents to the subordination of its mortgage for the affordable
housing project Tropical Isle Apartments, located at 755 41st
Street, Marathon, Florida, upon the consideration that the
purchaser of the aforementioned project will assume and guarantee
the repayment of the County's mortgage and that the purchaser
will continue the affordable housing project.
Section 2.
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The Mayor is authorized to execute on behalf
of Monroe County any documents necessary to carry out the
subordination.
PASSED AND ADOPTED by the Board of County Commissioners of
Monroe County, Florida, at a regular meeting of said Board held
on the 12th day of Septe~p'~!, 1990.
(SEAL)
Attest: DANNY L. KOLHAGE, CLERK
BY~~.)f?~
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BOARD OF COUNTY COMMISSIONERS
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APPROvrED AS TO FORM
By ~;:;SUFFICI~NC~
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