Broward County Commission Regular Meeting
Director's Name: Henry A. Sniezek
Department: Environmental Protection Division: Housing Finance & Comm. Redevelopment
Information
Requested Action
title
MOTION TO ADOPT Resolution No. 2020-056 of the Board of County Commissioners of Broward County, Florida, authorizing the Housing Finance Authority of Broward County, Florida (the "HFA") to carry forward 2019 Private Activity Bond Allocation; authorizing the request for 2020 Private Activity Bond Allocation; approving a plan of financing involving the issuance by the HFA of its Single Family Mortgage Revenue Bonds (the "Single Family Bonds") in an aggregate amount not to exceed $250,000,000, in one or more series; approving the Single Family Bonds as required by Section 147(f) of the Internal Revenue Code of 1986, as amended (the "Code"); authorizing the HFA to publish a notice and hold a public hearing in accordance with Section 147(f) of the Code; approving the use of State-Awarded Private Activity Bond Allocation for Mortgage Credit Certificate Programs or multifamily carry-forward; authorizing the proper Officers, the Executive Director, and the employees and agents of the HFA to do all things necessary or advisable in connection with the plan of financing and the issuance of the Single Family Bonds, and ratifying prior actions regarding same; and providing for an effective date for this Resolution.
body
Why Action is Necessary
Pursuant to Ordinance No. 70-41 enacted by the Board of County Commissioners of Broward County, Florida (the "Board") and effective on July 3, 1979, the Board created the Housing Finance Authority of Broward County, Florida (the "HFA") in accordance with Part IV, Chapter 159, Florida Statutes (the "Act"). This ordinance requires the Board to approve the request action.
What Action Accomplishes
Allows the HFA to issue its Single Family Mortgage Revenue Bonds in one or more series in an aggregate principal amount not to...
Click here for full text