Resolution 2000-013
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RESOLUTION NO. 2000-13
A RESOLUTION OF THE BOARD OF COUNTY
COMMISSIONERS OF COLLIER COUNTY, FLORIDA,
AUTHORIZING THE BORROWING OF NOT EXCEEDING
$2,700,0000 FROM THE POOLED COMMERCIAL PAPER
LOAN PROGRAM OF THE FLORIDA LOCAL
GOVERNMENT FINANCE COMMISSION PURSUANT TO
THE TERMS OF THE LOAN AGREEMENT BETWEEN THE
COMMISSION AND THE COUNTY IN ORDER TO
FINANCE THE ACQUISITION OF A HELICOPTER FOR
THE COUNTY'S EMS DEPARTMENT; AUTHORIZING
THE EXECUTION OF A LOAN NOTE OR NOTES TO
EVIDENCE SUCH BORROWING; AGREEING TO SECURE
SUCH LOAN NOTE OR NOTES WITH A COVENANT TO
BUDGET AND APPROPRIATE LEGALLY A V AILABLE
NON-AD VALOREM REVENUES AS PROVIDED IN THE
LOAN AGREEMENT; AUTHORIZING THE EXECUTION
AND DELIVERY OF SUCH OTHER DOCUMENTS AS
MAY BE NECESSARY TO EFFECT SUCH BORROWING;
AND PROVIDING AN EFFECTIVE DATE.
BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF
COLLIER COUNTY, FLORIDA:
SECTION l.DEFINITIONS. Unless the context of use indicates another meaning
or intent, the following words and terms as used in this Resolution shall have the following
meanings. Capitalized terms not defined herein shall have the meanings ascribed thereto in
the hereinafter defined Loan Agreement.
"Act" means, collectively, Part I, Chapter 125, Florida Statutes, Part I, Chapter 163,
Florida Statutes, and all other applicable provisions of law.
"Additional Payments" means the payments required to be made by the County
pursuant to Sections 5.02(b), 5.02(c), 5.02(d), 5.05 and 6.06(e) of the Loan Agreement.
"Board" means the Board of County Commissioners of the County.
"Chairman" means the Chairman or Vice Chairman of the Board,
person as may be duly authorized to act on his or her behalf.
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"Clerk" means the Clerk of the Circuit Court for the County, ex-officio Clerk of the
Board, and such other person as may be duly authorized to act on his or her behalf.
"Commission" means the Florida Local Government Finance Commission, and any
assigns or successors thereto.
"County" means Collier County, Florida, a political subdivision of the State of
Florida.
"County Administrator" means the County Administrator of the County and such
other person as may be duly authorized to act on his or her behalf.
"Designated Revenues" means (1) Public Agency Moneys budgeted and
appropriated for purposes of payment of the Loan Repayments and any other amounts due
under the Loan Agreement, and (2) the proceeds of the Loan pending the application thereof.
"Draw Date" has the meaning set forth in the Loan Agreement.
"Finance Director" means the Director of Finance and Accounting and such other
person as may be duly authorized to act on his or her behalf.
"Loan No. A-13-1" means the Loan designated as "Loan No. A-13-1" the proceeds
of which are to be used to finance Project A-13.
"Loan" means the loan to be made by the Commission to the County from proceeds
of the Series A Notes in accordance with the terms of this Resolution and of the Loan
Agreement.
"Loan Agreement" means the Loan Agreement, dated as of April 12, 1991, between
the County and the Commission, as amended and supplemented and as the same may be
further amended and supplemented.
"Loan Rate" has the meaning set forth in the Loan Agreement.
"Loan Repayments" or "Repayments" means the payments of principal and
interest at the Loan Rate on the Loan amounts payable by the County pursuant to the
provisions of the Loan Agreement and all other payments, including Additional Payments,
payable by the County pursuant to the provisions of the Loan Agreement.
AGENDA ITEM
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"Non-Ad Valorem Revenues" means all legally available revenues of the County
derived from any source whatsoever other than ad valorem taxation on real and personal
property, which are legally available to make the Loan Repayments required in the Loan
Agreement, but only after provision has been made by the County for the payment of services
and programs which are for essential public purposes affecting the health, welfare and safety
of the inhabitants of the County or which are legally mandated by applicable law.
"Program" means the Pooled Commercial Paper Loan Program established by the
Commission.
"Project A-13" means the costs and expenses relating to the acquisition of a
helicopter for the County's EMS Department, as the same may be amended or modified from
time to time, all as more particularly described in the plans and specifications on file with the
County.
"Public Agency Moneyslt shall mean the moneys budgeted and appropriated by the
County for payment of the Loan Repayments and any other amounts due hereunder from
Non-Ad Valorem Revenues pursuant to the County's covenant to budget and appropriate
such Non-Ad Valorem Revenues contained in Section 6.04 of the Loan Agreement.
"Resolutionlt means this Resolution, as the same may from time to time be amended,
modified or supplemented.
ItSeries A Notes" means the Commission's Pooled Commercial Paper Notes, Series
A (Governmental Issue), to be issued from time to time by the Commission.
The terms "herein," "hereunder," "hereby," "hereto," "hereof," and any siinilar terms,
shall refer to this Resolution; the term "heretofore" shall mean before the date of adoption
of this Resolution; and the term "hereafter" shall mean after the date of adoption of this
Resolution.
Words importing the masculine gender include every other gender.
Words importing the singular number include the plural number, and vice versa.
SECTION 2.AUTHORlTY FOR RESOLUTION. This Resolution is adopted
pursuant to the provisions of the Act.
SECTION 3.FINDINGS. It is hereby ascertained, determined and declared that:
AGENDA ITEM
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(A) The Commission has been established for the principal purpose of issuing
commercial paper notes in order to provide funds to loan to public agencies, such as the
County, desiring to finance and refinance the cost of acquiring, constructing and equipping
capital improvements and to finance and refinance other governmental needs.
(B) In furtherance of the foregoing, the Commission shall issue, from time to time,
commercial paper notes to be known as "Florida Local Government Finance Commission
Pooled Commercial Paper Notes, Series A (Governmental Issue)" and shall loan the proceeds
of such Series A Notes to public agencies, including the County.
(C) Pursuant to the authority of the Act, the Commission has agreed to loan, from
time to time, to the County such amounts as shall be authorized herein and in the Loan
Agreement in order to enable the County to finance, reimburse or refinance the cost of
acquisition, construction and equipping of capital improvements.
(D) There is presently a need by the county to finance Project A-13 and the most
cost-effective means by which to finance Project A-I3 is by the use of moneys obtained
pursuant to the Program by means of the Loan.
(E) The County hereby determines that the provision of funds by the Commission
to the County in the form of Loan No. A-13-1 pursuant to the terms of the Loan Agreement
and the financing of Project A-13 will assist in the development and maintenance of the
public welfare of the residents of the County, and shall serve a public purpose by improving
the health and living conditions, and providing governmental services, facilities and
programs and will promote the most efficient and economical development of such services,
facilities and programs.
(G) Loan No. A-13-1 shall be repaid solely from the Designated Revenues. Such
Designated Revenues shall include moneys derived from a covenant to budget and
appropriate legally available Non-Ad Valorem Revenues. The ad valorem taxing power of
the County will never be necessary or authorized to make the Loan Repayments.
SECTION 4. TERMS OF LOANS. The County hereby approves of Loan No. A-13-
1 in the aggregate amount of not exceeding $2,700,0000 for the purpose of providing the
County with sufficient funds to finance Project A-13. The Chairman and the Clerk are
hereby authorized to execute, seal and deliver on behalf of the County a Loan Note or Notes
with respect to Loan No. A-13-1 and other documents, instruments, agreements and
certificates necessary or desirable to effectuate Loan No. A-13-1 as provided in the Loan
Agreement. The Loan Note or Notes with respect to Loan No. A-13-1 shall reflect the terms
of such Loan and shall be substantially in the form attached to the Loan Agreement as
AGENDA ITEM
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Exhibit I. The Finance Director shall make the Draw Request or Requests with respect to
Loan No. A-13-1 in accordance with the terms of the Loan Agreement at such time as shall
be detennined by the Finance Director as appropriate to finance Project A-13 and is
pennitted by the Loan Agreement. Loan No. A-13-1 shall mature in accordance with the
provisions described in Schedule I attached hereto. Loan No. A-13-1 shall bear interest at
the Loan Rate in accordance with the terms of the Loan Agreement. The County further
agrees to make all Loan Repayments required of it pursuant to the terms of the Loan
Agreement. The Letter of Credit fees for Loan No. A-13-1 shall be 30 basis points or such
other amount as First Union National Bank and the Finance Director shall agree.
SECTION 5. AUTHORIZA TION OF PROJECT A-13. The County does hereby
authorize Project A-13.
SECTION 6.SECURlTY FOR THE LOAN. The County's obligation to repay
Loan No. A-13-1 will be secured by a pledge of and lien upon the Designated Revenues in
accordance with the terms of the Loan Agreement. The obligation of the County to repay
Loan No. A-13-1 shall not be deemed a pledge of the faith and credit or taxing power of the
County and such obligation shall not create a lien on any property whatsoever of or in the
County other than the Designated Revenues.
SECTION 7. GENERAL AUTHORITY. The members of the Board and the
officers, attorneys and other agents or employees of the County are hereby authorized to do
all acts and things required of them by this Resolution and the Loan Agreement, or desirable
or consistent with the requirements of this Resolution and the Loan Agreement, for the full
punctual and complete performance of all the terms, covenants and agreements contained in
this Resolution and the Loan Agreement, and each member, employee, attorney and officer
of the County or its Board is hereby authorized and directed to execute and deliver any and
all papers and instruments and to do and cause to be done any and all acts and things
necessary or proper for carrying out the transactions contemplated by this Resolution and the
Loan Agreement.
SECTION 8.SEVERABILITY. If anyone or more of the covenants, agreements
or provisions herein contained shall be held contrary to any express provision of law or
contrary to the policy of express law, though not expressly prohibited, or against public
policy, or shall for any reason whatsoever be held invalid, then such covenants, agreements
or provisions shall be null and void and shall be deemed separable from the remaining
covenants, agreements or provisions and shall in no way affect the validity of any of the other
provisions hereof.
AGENDA ITEM
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SECTION 9.REPEAL OF INCONSISTENT RESOLUTIONS. All resolutions
or parts thereof in conflict herewith are hereby superseded and repealed to the extent of such
conflict.
SECTION 10. EFFECTIVE DATE. This Resolution shall take effect
immediately upon its adoption.
DULY ADOPTED this 11th day of January, 2000.
BOARD OF COUNTY COMMISSIONERS
OF COLLIER COUNTY, FLORIDA
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APPROVED AS TO FoRM AND
LEGAL SUFFICIENCY:
AGENDA ITEM
No. / fD 6- c./)
JAN 1 1 2000
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