Resolution 146-1980
RESOLUTION NO. 146 -1980
JOINT RESOLUTION OF THE BOARD OF COUNTY
COMMISSIONERS OF MONROE COUNTY, FLORIDA,
AND THE MONROE COUNTY HOUSING FINANCE
AUTHORITY REAFFIRMING THE MONROE COUNTY
HOUSING FINANCE AUTHORITY'S IMPLEMENTA-
TION AND AUTHORIZATION.
WHEREAS, the Board of County Commissioners of Monroe
County, Florida, hereinafter referred to as "County", pre-
viously, on November 15, 1978, authorized William R.
Hough & Co. to prepare a needs analysis study to formulate a
program to finance family residences in accordance with
Florida Statutes Chapter 159, and has determined to imp1e-
ment such program through the creation of the Monroe County
Housing Finance Authority, hereinafter referred to as
. "Authority", and the issuance of mortgage revenue bonds,
and
WHEREAS, the County, pursuant to the Florida Housing
Finance Authority Act, Chapter 159 Florida Statutes, created
the Monroe County Housing Finance Authority by Ordinance
No. 10-1979 in order to issue bonds to finance the programs
provided for in said Act, and
WHEREAS, the County has, pursuant to previously passed
Resolution No. 214-1979 and Ordinance No. 10-1979, provided
for the implementation of such a program and authorized issu-
ance of one or more issues of bonds for the purpose of paying
the cost of such program upon such terms and conditions which
may then be agreed upon by the Authority, now, therefore,
BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF
MONROE COUNTY, FLORIDA, IN BEHALF OF SAID BOARD, AND ACTING
IN BEHALF OF MONROE COUNTY AND AS THE MEMBERS OF THE MONROE
COUNTY HOUSING FINANCE AUTHORITY, as follows:
1. That William R. Hough & Co., who has previously, by
Resolution No. 214-1979, been selected as the underwriter
for the County's housing needs, has been authorized to assist
the County and the Authority in the implementation of the
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program to finance residential mortgages, to be originated by
any financial institution doing business in the jurisdiction
of Monroe County which desires to participate and to be ser-
viced in such a manner as the Authority shall reasonably
determine.
2. The County and the Authority reaffirm their inten-
tions to issue and authorize the issuance and sale by the
Authority of "Monroe County Housing Finance Authority Single
Family/Residential Mortgage Revenue Bonds, Series 1980", in
such an amount necessary to pay the cost of financing the
residential housing program presently authorized, not to
exceed $50 million upon such terms and conditions as the
Authority shall determine, the final issuance and sale of the
bonds to be authorized by resolution or resolutions of the
Authority in accordance with Florida Statutes Chapter 159.
3. The issuance of the bonds pursuant to the aforesaid
mentioned program is subject in all respects to the approval
by the Authority of all agreements and other documents
necessary to complete such issuance.
4. The appointment of the firm of Kutak Rock & Huie
as Bond Counsel to the Authority for the purpose of assisting
ln the preparation and issuance of bonds pursuant to Resolu-
tion No. 214-1979 is hereby reaffirmed. Michael H. Cates or
his designee is hereby confirmed as General Legal Counsel for
the Authority.
Passed and adopted by the Board of County Commissioners
of Monroe County, Florida, in behalf of said Board, and act-
ing in behalf of Monroe County and as the members of the
Monroe County Housing Finance Authority, at a regular meeting
held on the 3rd day of June, 1980.
(Seal)
COMMISSIONERS
FLORIDA
By
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Attest:
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, ...) Clerk
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AJIMOVED AS TO FORM
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