Agenda 09/24/2019 Item #16K 3 (Resolution Authorizing for Revenue Bonds for Community School of Napels, Inc.)Proposed Agenda Changes
Board of County Commissioners Meeting
September 24, 2019
Withdraw Item 16C8: Recommendation to terminate the Technical Assistance Interlocal
Agreement between Collier County, the Collier County Water- Sewer District, and the City of
Everglades City, consistent with the City's request. (Staff’s request)
Move Item 16H1 to Item 10C: Presentation of Hearing Examiner’s Annual Activities Report to
the Board of County Commissioners. (Commissioner Solis’ request)
Move Item 16C2 to Item 11E: Recommendation to approve the annual rate resolution to
establish the fees, rates, and charges for the use of Collier County Solid Waste Facilities,
including landfill tipping fees, recycling drop-off center fees, and residential multi-family and
commercial waste collection fees for Fiscal Year 2020 (FY20). This resolution adopts the rates
that fund the FY20 budget for solid waste collection and disposal and increases the rate to 2.9
percent on landfill tipping fee and 2.0 percent for residential solid waste collection
assessments. (Commissioner Taylor’s request)
Move Item 16K3 to Item 12B: Request by the Collier County
Industrial Development Authority for approval of a Resolution
authorizing the Authority to issue revenue bonds to be used to
finance educational facilities for the Community School of
Naples, Inc. (Commissioner Solis’ request)
Time Certain Items:
Item 10A to be heard at 9:50 a.m.
Companion Items 9A and 9B to be heard no sooner than 10:00 a.m.
9/24/2019 9:21 AM
09/24/2019
EXECUTIVE SUMMARY
Request by the Collier County Industrial Development Authority for approval of a Resolution
authorizing the Authority to issue revenue bonds to be used to finance educational facilities for the
Community School of Naples, Inc.
_____________________________________________________________________________________
CONSIDERATIONS:
History of CSN and previous bond issues
CSN is an independent college preparatory day school founded in 1982. The original student body
consisted of fewer than 50 students in grades K-5, housed in rented quarters in two local churches. The
school moved to its own campus off Livingston Road in 1984. From these beginnings the school has
grown to today’s 77-acre campus with 24 buildings, including athletic fields and a swimming pool,
enrolls more than 800 students, and has more than 140 full time employees.
Florida law recognizes the public benefit of educational facilities, and thus they are included as projects
eligible for industrial development financing under the Florida Industrial Development Financing Act,
Chapter 159, Florida Statutes. Financings under this Act are done through the Collier County Industrial
Development Authority. The Authority has previously issued revenue bonds for CSN in 1999, 2002,
2004, and 2007. Pursuant to IRC requirements, these bonds were approved by the Board by Resolutions
99-77, 02-484, 04-167, and 2007-147 respectively [Attachment 2]. Some or all of the 2002, 2004, and
2007 bonds refunded the previous bonds, and all outstanding bonds were refunded by a commercial bank
loan the school obtained in 2012.
Current Financing Application
The school has requested the Authority to issue its bonds to finance the costs of construction and
equipping a new building known as the CSN Institute for Science and Environmental Research and to
refund the outstanding portion of the bank loan described above. The new building is about 26,000
square feet and will contain 6 teaching labs, a research lab, prep labs, storage units, and space for the
College Counseling Department and the outreach director. The refunding portion of the financing will be
used to pay off the 2012 bank loan.
Authority Public Hearing
The Authority met on August 28, 2019 and considered the proposal. The meeting was notic ed by
publication in the Naples Daily News in the manner required by the Internal Revenue Code. A copy of
the notice is attached as Exhibit A to the Authority Resolution. No members of the public were present at
the meeting to object and no comments were received prior to the meeting. After considering the
application submitted by the school and the presentations of school and financing officials, the Authority
determined to proceed with the bond issue and adopted the Resolution attached as Exhibit A to the
County Resolution and designated as the “Authority Resolution” to evidence this approval.
In addition to Authority approval, federal tax law requires that the County Commission, as the local
governing body, must also approve the issuance of the tax-exempt bonds. This does not have to be a
specially advertised hearing but must be done at a regularly noticed and held meeting. A Resolution for
the Board to adopt is attached.
Security for Payment of Bonds; No County Pledge
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As an industrial development authority under Chapter 159, Part III, Florida Statutes, the Collier County
Industrial Development Authority is authorized only to issue revenue bonds payable solely from projects.
Further, Section 159.49 provides that the bonds are based on revenues of t he project and do not constitute
obligations of the County or any political subdivision. Therefore, there is no pledge of any taxes, nor a
pledge of any revenues except the revenues of Community School. Neither the County, the Board, nor
any officer of the County is liable for their payment. Under Section 159.33, a statement to this effect is
required to be on the face of each bond.
FISCAL IMPACT: This program does not require any contribution from the Board of County
Commissioners or any other County agency. As stated above, the bonds are not liabilities of the County,
and the County is not liable for payment in any way.
GROWTH MANAGEMENT IMPACT: The adoption of the attached resolution will have no adverse
growth management consequences. The school is an existing facility well served by existing
infrastructure. The resolution expressly states that the school is subject to the LDC, the Growth
Management Plan, and any applicable concurrency requirements.
LEGAL CONSIDERATIONS: This item has been reviewed by the County attorney, is approved as to
form and legality, and requires majority vote for Board approval. -JAK
RECOMMENDATION:
The Board of County Commissioners adopt the attached Resolution.
Prepared by: Donald A. Pickworth, Counsel
Collier County Industrial Development Authority
ATTACHMENT(S)
1. Resolution - Industrial Development Authority - JAK signed (PDF)
2. Industrial Development Authority - Attachment 2 (PDF)
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COLLIER COUNTY
Board of County Commissioners
Item Number: 16.K.3
Doc ID: 10128
Item Summary: Request by the Collier County Industrial Development Authority for approval of
a Resolution authorizing the Authority to issue revenue bonds to be used to finance educational facilities
for the Community School of Naples, Inc.
Meeting Date: 09/24/2019
Prepared by:
Title: Legal Assistant/Paralegal – County Attorney's Office
Name: Virginia Neet
09/12/2019 10:59 AM
Submitted by:
Title: County Attorney – County Attorney's Office
Name: Jeffrey A. Klatzkow
09/12/2019 10:59 AM
Approved By:
Review:
Office of Management and Budget Valerie Fleming Level 3 OMB Gatekeeper Review Completed 09/12/2019 11:21 AM
County Attorney's Office Jeffrey A. Klatzkow Level 3 County Attorney's Office Review Completed 09/12/2019 11:30 AM
Budget and Management Office Mark Isackson Additional Reviewer Completed 09/12/2019 2:20 PM
County Manager's Office Leo E. Ochs Level 4 County Manager Review Completed 09/16/2019 2:48 PM
Board of County Commissioners MaryJo Brock Meeting Pending 09/24/2019 9:00 AM
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