Resolution 2001-346
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RESOLUTION NO. 2001-~
A RESOLUTION OF THE BOARD OF COUNTY
COMMISSIONERS OF COLLIER COUNTY, FLORIDA
APPROVING THE ISSUANCE OF INDUSTRIAL REVENUE
BONDS IN ONE OR MORE SERlES IN THE PRINCIPAL
AMOUNT OF NOT EXCEEDING $3,500,000 BY THE
COLLIER COUNTY INDUSTRIAL DEVELOPMENT
AUTHORITY.
WHEREAS, on August 28, 2001 a public hearing was held by the Collier County
Industrial Development Authority (the "Authority") with regard to the issuance of the
Authority's Industrial Development Revenue Bonds (Naples Lumber & Supply Co., Ine. Project)
in one or more series in the principal amount of not exceeding $3,500,000 (the "Bonds")pursuant
to a notice thereof published in the Naples Daily News, a copy of the Affidavit of Publication
being attached hereto as Exhibit"A"; and
WHEREAS, at the conclusion of said hearing the Authority adopted its Resolution No.
2001-03, a copy of which is attached hereto as Exhibit "B", approving the issuance of the Bonds:
and
WHEREAS, the proceeds of the Bonds will be used by the Authority to make a loan to
Naples Lumber & Supply Co., Ine. (the "Borrower") to finance the cost of acquisition,
construction and equipping of a lumber supply and wood products manufacturing facility to be
owned and operated by the Borrower and located at 3828 Radio Road, Naples, Florida, within
Collier County, Florida (all of the property financed with proceeds of the Bonds being owned and
operated by the Borrower);and
WHEREAS, the Bonds will not be an obligation of the County, and will be payable solely
from funds of the Borrower; and
WHEREAS, pursuant to the requirements of the Internal Revenue Code of 1986, as
amended (the "Code"), as a prerequisite to the issuance of the Bonds, it is necessaty that the
Board of County Commi.ssioners of Collier County, Florida approve the issuance thereof after
said public hearing; and
WHEREAS, the Board of County Commissioners desires to evidence approval of the
issuance of the Bonds to satisfy the requirements of the Code,
NOW, THEREFORE, be it resolved by the Board of County Commissioners of Collier
County, Florida that:
Section 1, The Board of County Commi.ssioners hereby approves the issuance of the
Bonds solely for purposes of Section 147(1) of the Code and Section 159.47(1)(1), Florida
Statutes.
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Section 2. The Bonds shall not constitute a debt, liability or obligation of Collier
County, Florida, its Board of County Commissioners, or any officers, agents or employees thereof,
or of 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, Florida, the State of Florida or any political subdivision thereof is pledged to payment of
the principal of, premium, if any, and interest on the Bonds. No member of the Board of County
Commissioners of Collier County, Florida or any officer, agent or employee thereof shall be liable
personally on the Bonds by reason of their issuance.
Section 3. This approval shall in no way be deemed to abrogate any saws, ordinances,
or regulations of Collier County, Florida, and any and all projects contemplated to be financed
with the Bonds shall be subject to all such regulations, including, but not limited to, the Collier
County Growth Management Plan, all concurrency requirements contained therein, the Collier
County Land Development Code, and all applicable impact fee regulations.
Section 4. If any Section, paragraph, clause or provision of this Resolution shall be
held to be invalid or ineffective for any reason, the remainder of this 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 5. This Resolution shall take effect immediately upon its adoption.
PASSED and Adopted this 1 lth day of September, 2001.
ATTEST:
Dwig~ E. B~'0~E,' Clerk
· Deputy ClerkT
· At~t~ ~ to Chalman's
'[SEAL] sl~?t~re on 1.v.
Approved as to form and legal sufficiency:
David C. Weigel, County At~t~ey
COLLIER COUNTY, FLORIDA BY
ITS BOARD OF COUN~OMMISSIONERS
NapLes Daily News
Naples, FL 34102
Affidavit of PubLication
NapLes DaiLy News
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thM the col'
duStrlal DeveloPment
· ' 'the -Authorl-
AuthoriTY ~ ·
~u,,/ .will conduct, a sp~
~"lel meeting ~unClus~U~8,.
P]'CK~JORTH, DONALD P.A.
5150 TAH][AI4! TRL N /t602 --. Wrlfien comments -r-e= hearing ~n A g
NAPLES FL 3410:~ _celve`d In adyon~ of the ~001, at:8:45_a,m; tonmtehn~
~nnOm c gevelopm .
hedRlhg arid o~aL cam"
me,ts macle at the hear- CounCil of Collier CounTy
1 n g a r. ie fp r~, t~h ,e Conference Room, 3050
North Horseshoe Drive,
consideration eT Ine
thoritV and will nor blnd Suite 120, Naples, Flori-
da, 34104, for the purpOs-
the Authorltv, eS of'
Copies of the appllco- (l) receiving pub. llc
tons for financlng ore
· discussion concerning
REFERENCE: 01078~ available, for_.i,n~s.p%ctff~ne comments and hearing
58300845 NOT[CE OF SPEC[AL 14E and coEyIng eT. ~=. ~-';'-'-' he reposed IssuanCe
at the P_conomlc gave,gl3- toff t~e Authoqtv's
merit COUnCil set forth dustrlal Devmopme
State of FLorida above. . Revenue Bonds
County of CoL Liar ' Sh~.uld an,/pe !son.de," (Naples Lumber & Sup-
Before the undersigned authority~ personaLLy ply Co, inc. proleCt~,
sloA L~2~ __ bna dr. ~0.~e-s-atlas (the
appeared AngeLa Bryant, who on oath gays that she a~thotHy wlzn .r~ ~,~-. '
serves as' Assistant-Secretar'Y~ of the NapLes DaiLY any metier cons dared at ~~~~e'_r~
Neus, a daily newspaper published at NapLes, in stlch hea)'lng, such,person
Will neeco i'eco'd~°f the of not exceemng
$3,50,000 to be used to
CoLLier County, FLorida: that the proceedings an.d fbr that finance' the acquisition,
attached copy of advertising was published in said purpose, such person corlstructlon and equip-
pin of a lu.mber supplh'
may need to enslre that a ~ wade products
newspaper on dates Listed. verbcdlm recor, I of the an
Affiant further says that the said NapLes DaiLy pro. cee. tlngs, le~ .made, . manufacturing fac tv
News is a newspaper published at NapLes~ in said which recora m,~luaes the to be owned, aqd. °mP~er~.
testlmoq iv and evldence / cried bY NaP es ~.um
CoLLier County, FLorida, and 'chat the said upon ~Ich the appeal ls & Supply Co., Inc. (th?
newspaper has heretofore been continuously tobebcsed. . . ,,Company")_bn..d_ ~c~-
published in said CoLLier County, FLorida~ each · n ac =rdance wth the ed at 3828 ~amo r~u,~,
Amerlc ~s with DlSablll' · NapleS~ FIorldi~ 34104.
day and has been entered as second class mail ties Ac .persons ne.edlng . . The Initial oTM and
matte~ at the post office in NapLes, in said aspec ,I acc.ommoqatlon oper~r
lo part Ipate In this near: ties tlnan.c, eu _~,_,~
CoLLier County, FLorida, for a period of I yea~ Ina sl~< id contact Donma ' c,eds of me uon~s ~,,-
next preceding the first publication of the A~ P1, :worth, General ~-th~C,-m. Pr~nnv~; adap
couns( at (941) 263-8060 ii) con lae.rl..g .
attached copy of advertisement; and affiant no lete. than 3 days prier . ling a
further says that she has neither pa~d nor tother arlng, lng to ' ~e Issuance of.
promised any person~ firm or corporation any This ~otlce Is glvenpur- theban, s;an.d. ~,
the Internal Revenue other
discount, rebate, commission or refund fop the suant ~ Section 147(f) of ii)
purpose of securing this advertisement for code, asamende`d. _.. come elate the Au-
/s/Donald A. PICKWOrTn thorlt - ' - are
pubLiction in the said newspaper. ASsiStcint sec~ef~rv and Al Inter
General counsel nulfnd
' commel or
PUBLISHED ON: 08/13 ~. N.o 187~084. hearing ther personalty
or throi their rePresen-
tative, I will be given.
~n .aDp miry to expr.ess
their ~/s conce~mng
the p~ for the flnanc.
lng. ~ ~ne desiring to
make Itien comments
AD SPACE: 126.000 INCH In adv e'of the hearing
FILED ON: 08/13/01 may s sUch comments
Devetopment Aumor,Y
Signature of Affiant _ ~_ _'~.~ ~- . c/o ECOnOmiC DeveloP-
..... North Horseshoe Drive,
s.orn to a.d S b;c ibed'bef ra- e" h -s . __day ..... ment coun=,, 30 0
Suite 120~ 'NaPles, FIorl-
PersonaLLy known by me ~'~(-~-~'&'"k~'' ~ ' da34104
EXHIBIT A TO BCC
RESOLUTION
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Execution Copy
RESOLUTION 2001-2_O
A RESOLUTION OF THE COLLIER COUNTY INDUSTRIAL
DEVELOPMENT AUTHORITY REGARDING THE OFFICIAL
ACTION OF THE AUTHORITY WITH RESPECT TO THE
ISSUANCE OF ITS NOT TO EXCEED $3,500,000 INDUSTRIAL
DEVELOPMENT REVENUE BONDS (NAPLES LUMBER &
SUPPLY CO., INC. PROJECT) IN ONE ORE MORE SERIES FOR
THE PURPOSES OF FINANCING A PORTION OF THE COST OF
ACQUIRING, CONSTRUCTING AND EQUIPPING A LUMBER
SUPPLY AND WOOD PRODUCTS MANUFACTURING
FACILITY TO BE OWNED AND OPERATED BY NAPLES
LUMBER & SUPPLY CO., INC.; AUTHORIZING THE
EXECUTION AND DELIVERY OF A MEMORANDUM OF
AGREEMENT BY AND BETWEEN THE AUTHORITY AND
THE CORPORATION; AND PROVIDING FOR RELATED
MATTERS.
WHEREAS, Naples Lumber & Supply Co., Inc, a Florida corporation (the "Corporation"),
has applied to the Collier County Industrial Development Authority (the "Authority"), to issue its
private activity revenue bonds in the initial aggregate principal amount of not to exceed $3,500,000
in one or more series (the "Bonds") for the principal purpose of financing certain costs of
acquisition, construction and equipping of a lumber supply and wood products manufacturing facility
(the "Project") to be owned and operated by the Corporation; 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 llI, 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; and
WHEREAS, on August 28, 2001 the Issuer conducted a public hearing as required by
Section 147(f) of the Internal Revenue Code of 1986, as amended, with respect to the issuance of
the aforementioned bonds; and
WHEREAS, the issuance of the Bonds under the Act in one or more issues or Series in such
amounts of tax-exempt and/or taxable bonds not exceeding an aggregate principal amount of
$3,500,000 and the loaning of the proceeds thereof to the Corporation to finance a portion of the
costs of the Project under a loan agreement 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 B TO BCC
RESOLUTION
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WHEREAS, the Corporation has submitted a Memorandum of Agreement (the
"Memorandum of Agreement") relating to the issuance of the Bonds and the payment of costs and
expenses of issuance; and
WHEREAS, in order to satisfy certain of the requirements of Section 147(f) of the Intemal
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 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
provides a reasonable opportunity for persons with differing views to be heard, both orally and in
writing, on the issuance of such Bonds and the location and nature of the Project, as more
particularly described in the notice of public hearing attached hereto as Exhibit A; and
WHEREAS, it is intended that this Resolution shall constitute official action toward the
issuance of the 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, IT IS DETERMINED AND RESOLVED BY THE COLLIER
COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY, THAT:
SECTION 1. AUTHORITY FOR THIS RESOLUTION. This resolution, hereinafter
called "Resolution" is adopted pursuant to the provisions of the Act and other applicable provisions
of law.
SECTION 2. pRELIMINARY STATEMENT. This Resolution is entered into to permit
the Corporation to proceed with the financing and refinancing of a portion 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 to finance and refinance a portion
of the costs of the Project, all in accordance with and subject to the provisions of the Act, the
Constitution and other laws of the State of Florida, including the Internal Revenue Code of 1986,
as amended and this Resolution, but subject in all respects to the terms of the Memorandum of
Agreement hereinafter referred to.
SECTION 3. APPROVAL OF THE FINANCING. The financing of a portion 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 Memorandum of Agreement to the sole
satisfaction of the Authority.
SECTION 4. EXECUTION AND DELIVERY OF MEMORANDUM OF
AGREEMENT. The Chairman or the Vice-Chairman is hereby authorized and directed to execute,
for and on behalf of the Authority, the Memorandum of Agreement between the Authority and the
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Corporation providing understandings relative to the proposed issuance of the Bonds by the
Authority to finance a portion of the costs of the Project in an aggregate principal amount not to
exceed the lesser of (a) $3,500,000 or (b) the amount determined by the Authority and, the
Corporation to be necessary to accomplish the foregoing.
SECTION 5. AUTHORIZATION OF THE BONDS. There is hereby authorized to be
issued and the Authority hereby preliminarily determines to issue the Bonds, if so requested by the
corPoration and subject in all respects to the conditions set forth in the Memorandum of Agreement
attached hereto, in one or more issues or Series of such revenue bonds in an aggregate principal
amount not to exceed $3,500,000 for the principal purpose of financing a portion of the costs of the
Project as described in the Memorandum of 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 Memorandum of 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 Memorandum of Agreement
authorized hereby. The Chairman and the Vice-Chairman are hereby jointly and severally authorized
and directed to execute a State of Florida Division of Bond Finance Notice of Intent to Issue Bonds
and Request for Written Confirmation (Form BF-2006-G) in any amount requested by the
Corporation not in excess of $3,500,000, and to deliver the same to bond counsel for filing with the
State Division of Bond Finance.
SECTION 7. OFFICIAL ACTION. This resolution is an Official Action of the Authority
toward the issuance of the Bonds, as contemplated in the Memorandum of Agreement and a
Declaration Official Intent of the Authority, within the contemplation of Section 1.150-2 of the
Income Tax Regulations to permit the Corporation to use the proceeds of the Bonds to reimburse
itself for certain expenses originally paid in connection with the Project.
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 thereof but shall be payable solely from the revenues
pledged therefor pursuant to a loan agreement or other financing agreement entered into by and
between the Authority, 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 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 of Collier County or to have estopped Collier County from asserting any rights
or responsibilities it may have in that regard.
SECTION 10. EFFECTIVE DATE. This Resolution shall take effect immediately.
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ADOPTED this 28th day of August, 2001.
COLLIER COUNTY INDUSTRIAL
DEVELOPMENT AUTHORITY