^/9/^ RECORDED PAGE NO 1^1 MINUTE BOQKNQ_^^7 RESOLUTION NO. R

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1 RECORDED /9/ PAGE NO 11 MINUTE BOQKNQ_7 RESOLUTION NO. R A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF MANATEE COUNTY, FLORIDA, APPROVING THE ISSUANCE BY THE HOUSING FINANCE AUTHORITY OF MANATEE COUNTY, FLORIDA OF ITS MULTI-FAMILY HOUSING REVENUE BONDS (SABAL PALM HARBOR APARTMENTS PROJECT) WITHIN THE MEANING OF SECTION 147(f) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the Housing Finance Authority of Manatee County, Florida (the "Authority") was created pursuant to Part IV, Chapter 159, Florida Statutes (the "Act") and Manatee County Ordinances 79-6 and (collectively, the "Ordinances"); and WHEREAS, the Board of County Commissioners of Manatee County, Florida (the "Board") heretofore adopted a resolution on October 30, 1979, declaring a need for the Authority to function in order to alleviate the shortage of housing and capital investment in affordable housing within Manatee County, Florida (the "County"); and WHEREAS, the Authority is authorized pursuant to the Act to issue multi-family housing revenue bonds to provide affordable housing to low, moderate or middle income tenants; and WHEREAS, Sabal Palm Harbor Partners, Ltd., a Florida limited partnership (the. "Borrower") submitted an application to the Authority for the Authority to issue its Multi-Family Housing Revenue Bonds (Sabal Palm Harbor Apartments Project) in the principal amount of not exceeding $7,300,000 (the "Bonds") to finance the acquisition and construction of a 168-unit multifamily housing project to be located at the Southeast quadrant of S.R. 70 (Oneco Road) and S.R. 301 in the unincorporated area of Manatee County, Florida.(the "Project"); and WHEREAS, there was published, at least fourteen (14) days prior to the Public Hearing (as herein defined), a notice of such hearing, a copy of the proof of publication of such notice being attached hereto as Exhibit A; and WHEREAS, on November 23, 1999, the Authority held a public hearing (the "Public Hearing") regarding the proposed financing of the Project through the issuance by the Authority of the Bonds, as required by Section 147(f) of the Code; and WHEREAS, it is intended that this Resolution shall constitute the approval of the issuance of the Bonds required by Section 147(f) of the Code. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF MANATEE COUNTY, FLORIDA, AS FOLLOWS: SECTION 1. The recitals set forth above are adopted by the Board as the findings of the County and are incorporated herein. SECTION 2. The terms of this Resolution shall not constitute approval of the Project or authorization for the Authority to issue the Bonds as required under the Ordinances; such approval and authorization shall be considered by the Board by subsequent proceedings and by 183? 340-(2

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3 other appropriate regulatory bodies as required by applicable law and regulations. The adoption of this Resolution does not in any way entitle or create any rights in or for Borrower. Consideration with respect to all subsequent approvals of the Project will be taken without regard to the adoption of this Resolution and will be governed solely by applicable law and regulations. SECTION 3. That the issuance of the Bonds is hereby approved within the meaning of Section 147(f) of the Code. SECTION 4. That the Chairman or, in his absence, a Vice-Chairman, is hereby authorized to execute the appropriate form or forms necessary to seek a private activity bond allocation from the State of Florida Division of Bond Finance on behalf of the Authority in connection with the issuance of the Bonds. SECTION 5. This Resolution shall be effective immediately upon its adoption. PASSED AND ADOPTED in regular session on this 7th day of December BOARD OF COUNTY COMMISSIONERS OF MANATEE COUNTY, FLORIDA Name: S"fan Si-ephenS- ATTEST: Title: Chairman By:(/ <g- /X'&" Stfcrt-e, Clerk'-oWie Circuit Court \ ald fiamanatee ounty, Florida \'%-. te-- S, $3'<'-~ WPB/SANFORDS/241919/56nz02I.DOC/11/08/99/

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5 BRADENTON HERALD P.O. Box 921 Bradcnton, FL Manatee Avenue West Bradcnton, FL / STATE COUNTY OF FLORIDA OF MANATEE; Bradenton Published Herald Daily Bradenton, Manatee, Florida Before the undersigned authority personally appeared Linda Wells, who on oath says that she is a Legal Advertising Representative of the Bradenton Herald, a daily newspaper published at Bradenton in Manatee County, Florida; that the attached copy of the advertisement, being a Legal Advertisement in the matter of NOTICE OF PUBLIC HEARING in the Court, was published in said newspaper in the issues of 11/3, '99. Affiant further says that the said publication is a newspaper published at Bradenton, in said Manatee County, Florida, and that the said newspaper has heretofore been continuously published in said Manatee County, Florida, each day and has been entered as second-class mail matter at the post office in Bradenton, in said Manatee County, Florida for a period of 1 year next preceding the first publication of the attached copy of advertisement; and affiant further says that she has neither paid nor promised any person, firm or corporation any discount, rebate, commission or refund for the purpose of securing this advertisement for publication in the said newspaper. (Signature A-LK- J-JLJ of Affiant) Sworn to and subscribed before me this '5rzA Day of Kbuebo: 19 W DIANE S. DACRO Notary Public - State of FIcpi's My Commission Expires Aug 15, '/"M Commission # CC863ITO IJIJL-'S. T3> SEAI-&, Notary Public Personally Known OR Type of Identification Produced_ w..:--ryi Produced Identification_ Exhibit A NOTICE OF PUBLIC HEARING CONCERNING THE ISSUANCE BY THE HOUSING FINANCE AUTHORITY OF MANATEE COUNTY, FLORIDA. OF NOT EXCEEDING tt.ssi.ooo OF ITS HOUSING FINANCE AUTHORITY OF MANATEE COUNTY, FLORIDA, MULTI- FAMIl.T HOUSING REVE NUE BONDS (SABAL PALM HARBOR APARTMENTS PROJECT) Notice Is hereby given that on Novembsr 23, at 9X10 A.M, or as soon there after as the same may be heard, the Housing Finance Authority of Manatee County, Florida (the "Authority"), will conduct a public hearing at the Manatee County Central Library 1301 Barcanrota Blvd. Bradenton, FL First Floor Conference Room for the purpose of giving In terested persons an oppor tunity to be heard on the proposed Issuance by the Authority of Its Multrfamlly Housing Revenue Bonds (Sabal Palm Harbor Apart ments Project) (the "Bonds"). I In an aggregate principal gmount of not exceeding {7,300,000 to be Issued to finance a loan (the "Loan") to be made by the Authority to Sabol Palm Harbor Part ners, Ltd- a Florida limited partnership (the "Borrower"). The proceeds from the Loan will be used by the Borrower to finance the acquisition and construction of a 168- unit mullrtamlly housing project to be rented to qualified tenants (the "Proj ect"). The Pro)ect Is located on approximately 20 acres located at the southeast Suadrant of S.R. 70 (Oneco oad) and S.R. 301 in the unincorporated area of Manatee County, Florida. The Bonds will mature not later than In forty (40) years from the year of Issuance and will be payable solely from the revenues of the Project. The Bonds will not constitute on Indebtedness of the Authority. Manatee County. Florida, {he State of Florida (the State ) or any political subdivision of the State within the meaning of any constitutional or statu tory debt limitation or re striction. The Authority has pportunlty lews, both orally and through written statements which are sub mitted to the Authority on or before the public hearing. For further Information, contact E. N. Fay, Jr, Es quire, General Counsel to the Authority, at (941) Should any person decide to appeal any deci sion made by the Authority, he or she wilt need a record of the proceedings and may need to ensure that a ver batim record of the pro ceedings Is mode, which re cord must include testimony and evidence upon which the appeals may be based. In occordaihr vrith the Amotlcana WKh DIsobffi) Act persons with disoblu- Uea needing special assis tance accommodations to participate bi thh pwedmg should contact E. N. Fay, Jr, E»q no later than flve (S) day prior to the hearing at telephone number ( UO (or assistance; K hearing Impaired, telephone the Florida Relay Sorvtee Number at (800) (TOD) or (800) (VOICE) for aflitance. This Notice Is published pursuant to the require ments of Section 147ffl of the Internal Revenue Code of 1986, as amended, and Treasury Regulations Sec tion Housing Finance Authority of Manatee County, Rorida. 11/3,'99

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