Resolution 2002-484
RESOLUTION NO. 02- 484
A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF
COLLIER COUNTY, FLORIDA APPROVING THE ISSUANCE AND
SALE OF REVENUE BONDS BY THE COLLIER COUNTY
INDUSTRIAL DEVELOPMENT AUTHORITY, AS REQUIRED BY
SECTION 147(f) OF THE INTERNAL REVENUE CODE, AS AMENDED;
PROVIDING FOR OTHER RELATED MATTERS.
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Whereas, the Collier County Industrial Development Authority (the "Authority") is a
body corporate and politic of Collier County, Florida ("Collier County") created by Collier
County Resolution No. 79-34 duly adopted by the Board of County Commissioners on February
27, 1979 pursuant to Part III of Chapter 159, Florida Statutes, as amended, with the power to
issue revenue bonds for the purposes of financing a "project" as defined in Part II of Chapter 159,
Florida Statutes, as amended; and
Whereas, Community School of Naples, Inc., a Florida not for profit corporation, with
certain facilities located within the boundaries of Collier County, Florida, (the "Corporation")
has requested the Authority to issue its revenue bonds (the "Bonds") for the benefit of the
Corporation and to loan all or a portion of the proceeds thereofto the Corporation to, among
other things, (i) payor reimburse the Corporation for the payment of, or to refinance certain prior
debt the proceeds of which were used to pay, costs of acquiring, constructing, renovating,
rehabilitating and equipping certain educational facilities located in Collier County, Florida (the
"Project"), and (ii) pay certain expenses incurred in connection with the issuance of the Bonds,
and
Whereas, Section 147(f) of the Internal Revenue Code of 1986, as amended (the "Code"),
provides that the elected legislative body of the governmental unit which has jurisdiction over the
area in which the facility financed with the proceeds of tax exempt bonds is located is to approve
the issuance of such bonds after a public hearing; and
Whereas, the Board of County Commissioners of Collier County, Florida (the "Board") is
the elected legislative body of the County; and
Whereas, the Authority caused notice of a public hearing to consider approval of the
Bonds and the location and nature of the Project to be financed with the proceeds of the Bonds to
be published on October 21,2002 and November 7,2002 in the Naples Daily News, a newspaper
of general circulation in the County, and a copy of said notices is attached as Exhibit A (the
"Notice"); and
Whereas, the Authority held a public hearings on November 6 and November 22, 2002,
pursuant to the Notices and adopted a resolution (the "Resolution") authorizing the issuance of
the Bonds, a copy of which is attached as Exhibit B, and has recommended to the Board that it
approve the issuance of the Bonds in accordance with Section 147(f) of the Code; and
Whereas, for the reasons set forth above, it appears to the Board that the approval of the
issuance and sale of such Bonds as required by Section 147(f) of the Code is in the best interests
of Collier County,
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NOW, THEREFORE, Be It Resolved by the Board of County Commissioners of Collier
County, Florida, that:
Section 1. Approval of Issuance of the Bonds. This Board hereby approves the
issuance of the Bonds by the Authority for the purposes described in the Notices pursuant to
Section 147(f) of the Code. The Bonds shall be issued in such aggregate principal amount, bear
interest at such rates, mature in such amounts and be subject to such optional and mandatory
redemptions as are approved by the Authority without the further approval ofthis Board.
The Bonds shall not constitute a debt, liability or obligation of Collier County, its Board
of County Commissioners, officers, agents or employees, or the State of Florida or any political
subdivision thereof, but shall be payable solely from the revenues provided therefor, and neither
the faith and credit nor any taxing power of Collier County or the State of Florida or any political
subdivision thereof is pledged to the payment of the principal of, premium, if any, and interest on
the Bonds. No member of the Board of County Commissioners of Collier County or any officer
or employee thereof shall be liable personally on the Bonds by reason of their issuance.
This approval shall in no way be deemed to abrogate any regulations of Collier County
applicable to the project and the project shall be subject to all such regulations, including, but not
limited to, the Collier County Growth Management Plan, all concurrency requirements contained
therein, and the Collier County Land Development Code.
Section 2. Severability. If any section, paragraph, clause or provision of this
Resolution shall be held to be invalid or ineffective for any reason, the remainder ofthis
Resolution shall continue in full force and effect, it being expressly hereby found and declared
that the remainder of this Resolution would have been adopted despite the invalidity or
ineffectiveness of such section, paragraph, clause or provision.
Section 3. Effective Date. This Resolution shall take effect immediately upon its
adoption, and any provisions of any previous resolutions in conflict with the provisions hereof
are hereby superseded.
PASSED and Adopted this 3rd day of December 2002.
[Remainder of this page intentionally left blank, signatures on next page]
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[SEAL]
Approved as to form and legal sufficiency:
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David C. Weigel, 0 ty A~eY---
COLLIER COUNTY, FLORIDA BY
ITS BOARD OF COUNTY
COMMISSIONERS
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(2.-3-02-
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RESOLUTION NO. 2002-03
AN INDUCEMENT RESOLUTION OF THE COLLIER
COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY
REGARDING THE OFFICIAL ACTION OF THE
AUTHORITY WITH RESPECT TO THE PROPOSED
ISSUANCE BY THE AUTHORITY OF ITS
EDUCATIONAL FACILITIES REVENUE BONDS
(COMMUNITY SCHOOL OF NAPLES, INC. PROJECT)
SERIES 2002 IN AN INITIAL AGGREGATE PRINCIPAL
AMOUNT NOT TO EXCEED $20,000,000 FOR THE
PRINCIP AL PURPOSE OF FINANCING OR
REFINANCING CERTAIN COSTS INCURRED OR TO
BE INCURRED BY COMMUNITY SCHOOL OF
NAPLES, INC.( THE "CORPORATION") IN
CONNECTION WITH THE ACQUISITION OF CERTAIN
EDUCATIONAL FACILITIES; AUTHORIZING THE
EXECUTION AND DELIVERY OF A PRELIMINARY
AGREEMENT BETWEEN THE AUTHORITY AND THE
CORPORATION; AND PROVIDING FOR RELATED
MATTERS.
WHEREAS, Community School of Naples Inc., a Florida not-for-profit corporation
(the "Corporation") has applied to the Collier County Industrial Development Authority (the
"Authority") to issue a series of its private activity revenue bonds in the initial aggregate
principal amount of not to exceed $20,000,000 (the "Series 2002 Bonds") for the principal
purpose of financing or refinancing certain costs of acquisition of certain educational
facilities (the "Projectll) to be owned and operated by the Corporation and paying costs
associated with the issuance of the Series 2002 Bonds; and
WHEREAS, the Corporation has requested that the Authority loan the proceeds of
the Bonds to the Corporation pursuant to Chapter 159, Parts II and III, Florida Statutes, or
such other provision or provisions of Florida law as the Authority may determine advisable
(the "Act") in order to accomplish the foregoing purposes; and
WHEREAS, the issuance of the Bonds and the loaning ofthe proceeds thereof to the
Corporation to finance the costs of the Project under loan agreements or other financing
agreements, and pursuant to the terms thereof which will provide that payments thereunder
be at least sufficient to pay the principal of and interest and redemption premium, if any, on
such Bonds and such other costs in connection therewith as may be incurred by the
Authority, will assist the Corporation and promote the public purposes provided in the Act;
and
EXHIBIT A TO COUNTY
RESOLUTION
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WHEREAS, the Corporation has submitted the Preliminary Agreement (the
"Preliminary Agreement") relating to the issuance of the Bonds; and
WHEREAS, in order to satisfy certain of the requirements of Section 147(f) of the
Internal Revenue Code of 1986, as amended (the "Code"), the Authority did on the date
hereof hold a public hearing on the proposed issuance of the Series 2002 Bonds for the
purposes herein stated, which date is more than 14 days following the first publication of
notice of such public hearing in a newspaper of general circulation in Collier County and
which public hearing was conducted in a manner that provided a reasonable opportunity for
persons with differing views to be heard, both orally and in writing, on the issuance of the
Series 2002 Bonds and the location and nature of the Project, as more particularly described
in Exhibit A attached hereto; and
WHEREAS, it is intended that this Resolution shall constitute official action toward
the issuance of the Series 2002 Bonds within the meaning of the applicable United States
Treasury Regulations in addition to any other action that may have heretofore been taken by
the Corporation;
NOW, THEREFORE, BE IT RESOLVED BY THE COLLIER COUNTY
INDUSTRIAL DEVELOPMENT AUTHORITY, THAT:
SECTION 1. AUTHORITY FOR THIS RESOLUTION. This Resolution
is adopted pursuant to the provisions of the Act and other applicable provisions oflaw.
SECTION 2. PRELIMINARY STATEMENT. This Resolution is entered
into to permit the Corporation to proceed with the financing of the costs of the Project and
to provide an expression of intention by the Authority, prior to the issuance of the Bonds, to
issue and sell the Bonds and make the proceeds thereof available for such purposes, all in
accordance with and subject to the provisions ofthe Act, the Constitution and other laws of
the State of Florida and the laws of the United States of America, including the Code, and
this Resolution, but subject in all respects to the terms of the Preliminary Agreement.
SECTION 3. APPROV AL OF THE FINANCING. The financing of the
costs of the Project by the Authority through the issuance of the Bonds, pursuant to the Act,
will promote the economic development, prosperity, health and welfare of the citizens of
Collier County, will promote the general economic structure of Collier County, and will
thereby serve the public purposes of the Act and is hereby preliminarily approved, subject,
however, in all respects to the Corporation meeting the conditions set forth in the Preliminary
Agreement to the sole satisfaction of the Authority.
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SECTION 4. EXECUTION AND DELIVERY OF PRELIMINARY
AGREEMENT. The Chairman or the Vice-Chairman is hereby authorized and directed to
execute, for and on behalfofthe Authority, the Preliminary Agreement, in the form attached
hereto as Exhibit "A", between the Authority and the Corporation providing understandings
relative to the proposed issuance of the Bonds by the Authority to finance the costs of the
Project in an aggregate principal amount not to exceed the lesser of (a) $20,000,000 or (b)
the amount determined by the Authority and the Corporation to be necessary to accomplish
the foregoing purposes.
SECTION 5. AUTHORIZATION OF THE BONDS. There is hereby
authorized to be issued and the Authority hereby determines to issue the Bonds, if so
requested by the Corporation and subject in all respects to the conditions set forth in the
Preliminary Agreement, in an aggregate principal amount not to exceed $20,000,000 for the
principal purpose of financing the costs of the Project as described in the Preliminary
Agreement. The rate of interest payable on the Bonds shall not exceed the maximum rate
permitted by law.
SECTION 6. GENERAL AUTHORIZATION. The Chairman and the
Vice-Chairman are hereby further authorized to proceed, upon execution of the Preliminary
Agreement, with the undertakings provided for therein on the part of the Authority and are
further authorized to take such steps and actions as may be required or necessary in order to
cause the Authority to issue the Bonds subject in all respects to the terms and conditions set
forth in the Preliminary Agreement authorized hereby.
SECTION 7. OFFICIAL ACTION. This resolution is an official action of
the Authority toward the issuance of the Series 2002 Bonds, as contemplated in the
Preliminary Agreement, in accordance with the purposes of the laws of the State of Florida
and the applicable United States Treasury Regulations.
SECTION 8. LIMITED OBLIGATIONS. The Bonds and the interest
thereon shall not constitute an indebtedness or pledge of the general credit or taxing power
of Collier County, the State of Florida or any political subdivision or agency thereofbut shall
be payable solely from the revenues pledged therefor pursuant to a loan agreement or other
financing agreement entered into between the Authority and the Corporation prior to or
contemporaneously with the issuance of the Bonds. The Authority has no taxing power.
SECTION 9. LIMITED APPROVAL. The approval given herein shall not
be construed as an approval or endorsement of approval of any necessary rezoning
applications nor for any other regulatory permits relating to the Project and the Authority
shall not be construed by reason of its adoption of this resolution to have waived any right
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of Collier County or estopping Collier County from asserting any rights or responsibilities
it may have in that regard.
SECTION 10.
EFFECTIVE DATE. This Resolution shall take effect immediately.
ADOPTED this 6th day of November, 2002.
(SEAL)
COLLIER COUNTY INDUSTRIAL
DEVELOPMENT AUTHORITY
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