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EXECUTION COPY
RESOLUTION NO. ___
A RESOLUTION OF THE BOARD OF COUNTY
COMMISSIONERS OF OKALOOSA COUNTY, FLORIDA
APPROVING THE ISSUANCE OF UTILITIES SYSTEM
REVENUE BONDS, SERIES 2014 (AUBURN WATER
SYSTEM, INC. PROJECT) BY THE COUNTY; RATIFYING
A PUBLIC HEARING HELD WITH RESPECT THERETO;
AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the Board of County Commissioners of Okaloosa County, Florida (the
"Issuer") did on February 18, 2014 adopt its resolution (the "Inducement Resolution") evidencing
its intent to proceed with the issuance of not exceeding $5,000,000 of its Utilities System
Revenue Bonds, Series 2014 (Auburn Water System, Inc. Project) (the "Bonds"); and
WHEREAS, the Issuer has conducted a public hearing with respect to the Bonds on the
st
1 day of April, 2014, at 9:00 a.m., for the purpose of considering the issuance of the Bonds, said
public hearing being in compliance with Section 147(f) of the Internal Revenue Code of 1986, as
amended, and said public hearing disclosing no reason why the Bonds should not be issued;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS OF OKALOOSA COUNTY, FLORIDA, as follows:
SECTION 1. The Issuer, pursuant to and in accordance with Section 147(f) of the
Internal Revenue Code of 1986, as amended (the "Code"), hereby ratifies the holding of the
public hearing referenced above and hereby approves the issuance of the Bonds for purposes of
the Code, in accordance with the Inducement Resolution. Such approval does not make the
Issuer liable or responsible for repayment of the Bonds, which will be secured by revenues
derived from Auburn Water System, Inc., to which proceeds of the Bonds will be loaned, but is
undertaken solely for purposes of the limited approval required under the Code.
SECTION 2. This resolution shall take effect immediately upon adoption hereof.
PASSED AND ADOPTED this 1st day of April, 2014.
BOARD OF COUNTY COMMISSIONERS
OF OKALOOSA COUNTY, FLORIDA
By:
Chairman, Board of County Commissioners
Attest:
By:
Clerk of the Circuit Court and ex officio
Clerk, Board of County Commissioners