Resolution 2001-439
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RESOLUTION 2001- 439
A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF COLLIER
COUNTY, FLORIDA, APPROVING THE ISSUANCE OF NOT EXCEEDING
$13,000,000 HOUSING FINANCE AUTHORITY OF COLLIER COUNTY TAX-
EXEMPT MULTI-FAMILY HOUSING REVENUE BONDS, (GOODLETTE ARMS
APARTMENTS) PURSUANT TO CHAPTER 159, PART IV, FLORIDA STATUTES,
AS AMENDED.
BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF COLLIER
COUNTY, FLORIDA:
Section 1. Recitals. It is hereby found, ascertained, determined and declared that:
A. The Housing Finance Authority of Collier County (the "Issuer") is a public corporation
of the State of Florida, was duly created by Ordinance No. 80-66 of the Board of County Commissioners
of Collier County, Florida, and is a body corporate and politic duly created and existing as a local
governmental body and a public instrumentality for the purpose of assisting qualifying housing projects
situated in Collier County, Florida (the "County"), under and by virtue of Chapter 159, Part IV, Florida
Statutes, (the" Act"), to provide for the issuance of and to issue and sell its obligations for lawful purposes
under the Act.
B. A public hearing was held by the Issuer on October 11, 2001 (the "Public Hearing") on the
application of Goodlette Arms LLC, (the "Company ")for the issuance of not exceeding $13,000,000 tax-
exempt multifamily housing revenue bonds (the "Bonds"). The public hearing was duly conducted by the
Issuer upon reasonable public notice, a copy of said notice being attached to the Authority Resolution
attached hereto, and at such hearing interested individuals were afforded the opportunity to express their
views, both orally and in writing, on all matters pertaining to the location and nature of the proposed
project and to the issuance of the Bonds.
C. After considering the application of the Company and the comments, if any, of members
of the public regarding the project or the issuance of the Bonds, the Issuer has adopted its Resolution 2001-
06, a copy of which is attached hereto as Exhibit A, approving the issuance of the Bonds and
recommending and requesting that the Board of County Commissioners approve the issuance of the Bonds
so that the interest on the Bonds will be exempt from federal income taxation under applicable provisions
of Section 147(a) of the Internal Revenue Code of 1986, as amended.
D. 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 therefore, 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, agent, or employee
thereof shall be liable personally on the Bonds by reason of their issuance.
Section 2. Approval of Issuance of the Bondsf, The issuance of the Bonds is hereby approved,
however this approval shall in no way be deemed to abrogate any regulations of the County and the project
contemplated by this resolution shall be subject to all such regulations, including, but not limited to, the
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County's Growth Management Plan, all concurrency"requirements contained therein, and the Collier
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County Land Development Code.
Section 3. Repealing Clause. All resolutions or orders and parts thereof in conflict herewith, to
the extent of such conflict, are hereby superseded and repealed.
Section 4. Effective Date. This Resolution shall take effect immediately upon its adoption.
PASSED AND ADOPTED THIS 13th day of November, 2001.
(SEAL)
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Deputy Clerk
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COLLIER COUNTY, FLORIDA
By:
James . Carter, Ph.D., Chairman
Board of County Commissioners of
Collier County, Florida 1/ !/.J/IJ!
Approved as to form and legal sufficiency:
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fb r David C. Weigel
County Attorney
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RESOLUTION 2001-06
Execution Copy
RESOLUTION REGARDING THE OFFICIAL ACTION OF THE HOUSING
FINANCE AUTHORITY OF COLLIER COUNTY, FLORIDA, RELATIVE TO
THE ISSUANCE OF NOT TO EXCEED $13,000,000 TAX EXEMPT AND
TAXABLE MULTIFAMILY HOUSING REVENUE BONDS FOR THE PURPOSE
OF ACQUIRING MULTIFAMILY RESIDENTIAL HOUSING FACILITIES
FOR PERSONS OR FAMILIES OF LOW, MIDDLE OR MODERATE
INCOME; AND FURTHER AUTHORIZING THE EXECUTION AND
DELIVERY OF AN AGREEMENT BY AND BETWEEN THE AUTHORITY AND
GOODLETTE ARMS LLC.; PROVIDING AN EFFECTIVE DATE.
WHEREAS, Goodlette Arms LLC (the "Company") has applied to the
Housing Finance Authority of Collier County, Florida (the
"Authority"), to (i) issue its tax-exempt and taxable multifamily
housing revenue bonds in a principal amount not to exceed
$13,000,000 (the "Bonds") as the Authority may authorize by
subsequent resolution (the "Bond Resolution") for the purpose of
financing the cost of acquisition (which shall include other costs
and reserves in connection therewith), of an existing multifamily
residential housing facility for persons or families of low, middle
or moderate income located in Collier County and named Goodlette
Arms (the "Project"), and (ii) to loan the proceeds of the Bonds to
the Company pursuant to Chapter 159, Part IV, Florida Statutes, or
such other provision or provisions of Florida law as the Authority
may determine advisable (the "Act"); and
WHEREAS, a determination by the Authority to issue the Bonds
under the Act, if so requested by the Company, in one or more
issues or series not exceeding an aggregate principal amount of
$13,000,000 and to loan the proceeds thereof available to finance
the Project under a loan agreement or other financing agreement
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 Company and
promote the purposes provided in the Act; and
WHEREAS, the Company has entered into a Preliminary Agreement
for Issuance of Multifamily Housing Revenue Bonds (the "Preliminary
Agreement") dated August 14, 2001 relating to the issuance of the
Bonds; and
WHEREAS, the Authority held a
hearing on the proposed issuance of
herein stated on August 14, 2001; and
special meeting and public
the Bonds for the purposes
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EXHIBIT A TO Bee
RESOLUTION
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:,
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.
IT IS, THEREFORE, DETERMINED AND RESOLVED BY THE HOUSING
FINANCE AUTHORITY OF COLLIER COUNTY, FLORIDA, THAT:
1. Approval of the Project. The acquisition of the Project
and the financing thereof by the Authority through the issuance of
the Bonds, pursuant to the Act, will promote the health and welfare
of the citizens of Collier County and will thereby serve the public
purposes of the Act.
2. Execution and Delivery of Preliminary Agreement. The
Chairman or Vice-Chairman of the Authority hereby are authorized
and directed to execute, for and on behalf of the Authority, the
Preliminary Agreement between the Authority and the Company
providing understandings relative to the proposed issuance of the
Bonds by the Authority to finance the proj ect in an aggregate
principal amount not to exceed the lesser of (a) $13,000,000, or
(b) the cost of the Project, as determined by the Authority.
3. 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 Company and subject to the conditions
set forth in the Preliminary Agreement, in one or more issues or
series in an aggregate principal amount not to exceed $13,000,000
for the purpose of financing the Project. The Bonds shall be
designated "Housing Finance Authority of Collier County Multifamily
Housing Revenue Bonds Series 2001 (Goodlette Arms Apartments)n or
such similar designation as the Authority may deem advisable. The
rate of interest payable on the Bonds shall not exceed the rate
permitted by law.
5. General Authorization. The Chairman, the Vice-Chairman,
the Secretary and counsel for the Authority hereby are 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 and necessary in order to cause the Authority to
issue the Bonds subject to the terms and conditions set forth in
the Preliminary Agreement authorized hereby,
6. Affirmative Action. This resolution is an affirmative
action of the Authority toward the issuance of the Bonds, as
contemplated in said Preliminary Agreement, in accordance with the
purposes of the laws of the State of Florida and the applicable
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United States Treasury Regulations.
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8. Appointment of Counsel. The Authority appoints Nabors,
Giblin and Nickerson, P.A., Tallahassee, Florida to act as bond
counsel to the Authority in connection with the issuance by the
Authority of the Bonds. The firm of Donald A. Pickworth, P.A"
Naples, Florida is the duly appointed Issuer's Counsel.
9. 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 revenue pledged therefor pursuant to a loan
agreement or other financing agreement entered into by and between
the Authority and the Company prior to or contemporaneously with
the issuance of the Bonds.
10. Limited Approval. The approval given herein shall not be
construed as an approval of any necessary zoning 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 the County or to have
estopped the County from asserting any rights or responsibilities
it may have in that regard.
This Resolution shall take effect immediately,
ADOPTED this 14th day of August, 2001.
HOUSING SJN~UTH:9B.ITY
COLLIER/CO Y v' RIDA
( SEAL)
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