Resolution 2006-147
RESOLUTION NO. 06--1.4..7
A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF
COLLIER COUNTY, FLORIDA APPROVING THE ISSUANCE OF
REVENUE BONDS BY THE COLLIER COUNTY INDUSTRIAL
DEVELOPMENT AUTHORITY IN AN AMOUNT NOT EXCEEDING
$14,000,000, AS REQUIRED BY SECTION 147(f) OF THE INTERNAL
REVENUE CODE, AS AMENDED; PROVIDING FOR OTHER RELATED
MA TTERS AND PROVIDING AN EFFECTIVE DATE.
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, as set forth in the resolution of the Authority described below, Seacrest School,
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 Educational
Facilities Revenue Bonds (Seacrest School, Inc Project) Series 2006 in an initial principal
amount not to exceed $14,000,000 (the "Bonds") for the benefit of the Corporation and to loan
all or a portion of the proceeds thereof to the Corporation to finance the costs of the Project; 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 May 21, 2006 in the Naples Daily News, a newspaper of general circulation in
the County, and a copy of said notice is attached as Exhibit A (the "Notice") to the Authority
Resolution described below; and
Whereas, the Authority held a public hearing on June 6, 2006, pursuant to the Notice and
adopted a resolution ( the "Authority Resolution") authorizing the issuance of the Bonds, a copy
of which is attached as Exhibit A, 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, the Board desires to approve the issuance of
such Bonds for the purposes of Section 147(f) of the Code.
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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 of Section 147(f) of the Code.
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 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 3.
adoption.
Effective Date. This Resolution shall take effect immediately upon its
PASSED and Adopted this 20th day of June, 2006.
ATTEST:
Dwight E. Brock, Clerk
COLLIER COUNTY, FLORIDA BY
ITS BOARD OF COUNTY
COMMISSIONERS
~~Cbnik
Deputy Clerk
Attl.t .1 to Cha1n11ft ,
[SEAL] , I Qfllturt Oft 1-
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Frank Halas, Chairman
APprovedastoformaOdleg~SU~CY:r.r ~ ~ /J7-;;.
~ jv /'jVr/ 'r
David C. Weigel, County Attorney
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RESOLUTION NO. 2006-01
AN INDUCEMENT RESOLUTION OF THE COLLIER
COUNTY INDUSTRIAL DEVELOPMENT AUTIlORITY
REGARDING THE OFFICIAL ACTION OF THE
AUfHORITY WITH RESPECT TO THE PROPOSED
ISSUANCE BY THE AUTHORITY OF ITS EDUCATIONAL
FACILITIES REVENUE BONDS (SEACREST SCHOOL, INC.
PROJECT) SERIES 2006 IN AN INITIAL AGGREGATE
PRINCIPAL AMOUNT NOT TO EXCEED $14,000,000 FOR
THE PRINCIPAL PURPOSE OF FINANCING OR
REFINANCING CERTAIN COSTS INCURRED OR TO BE
INCURRED BY SEA CREST SCHOOL, INC. IN
CONNECTION WITH THE ACQUISITION,
CONSTRUCTION AND EQUIPPING OF CERTAIN
EDUCATIONAL FACILITIES; AUTHORIZING THE
EXECUTION AND DELIVERY OF A PRELIMINARY
AGREEMENT BETWEEN THE AUTHORITY AND THE
CORPORATION; PROVIDING FOR RELATED MATTERS;
PROVIDING AN EFFECTIVE DATE.
WHEREAS, Seacrest School Inc., a Florida not-for-profit corporation (the "Corporation")
has applied to the ColHer 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 $14,000,000 (the "Bonds") for the principal purpose of financing or refinancing certain
costs of acquisition of certain educational facilities (the "Project") to be owned and operated by the
Corporation and paying costs associated with the issuance of the 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 of the 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
WHEREAS, the Corporation has submitted that certain Preliminary Agreement for the
Issuance of Private Activity Revenue Bonds of even date herewith (the "Preliminary Agreement")
relating to the issuance of the Bonds; and
Inducmnl Res Seacresl 2006.doc
EXHIBIT A TO COUNTY
RESOLUTION
WHEREAS, in order to satisfy certain of the requirements of Section 147(t) oCtbe 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 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 Bonds and the location and nature of the Project, as more
particularly described such notice, a copy of which is 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, 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 of law.
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
eltpression 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 of the 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. APPROVAL 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.
SECTION 4. EXECUTION AND DELIVERY OF PRELIMINARY AGREEMENT.
The Chairman or the Vice-Chairman is hereby authorized and directed to execute, for and on
behalf of the Authority, the Preliminary Agreement of even date herewith, 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) $]4,000,000 or (b) the amount determined by the Authority and the Corporation to be
necessary to accomplish the foregoing purposes.
SECTION s. 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
Inducmnt Res Seacresl 2006.doc
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and subject in all respects to the conditions set forth in the Preliminary Agreement, in an aggregate
principal amount not to exceed $14,000,000 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 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 OBLIGA nONS. 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 fmancing 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 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 upon its adoption.
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ADOPTED this 6th day of June. 2006.
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COLLIERCOUNTY INDUSTRIAL
DEVELOPM NT A HORITY
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Inducmnl Res Scacrcsl 2006.doc:
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EXHIBIT A
NOTICE OF HEARING
Naples Daily News
Naples, FL 34102
Affidavit of Publication
Naples Daily News
--------------------------------------------------+---------------
,
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0120 IOTICI OF
EmIl
0120 I01ICEOF
EIIII
REFERENCE: 010784
59243638
Notice of Special Me
Notice of Special Meeting anet ~bllc Haarlng
Notlet Is hereby given that the Collier County In
dustrlal Development Authority (the .AuttIorlty"
will conduct a s~laI meeting and public heartnl
on June 6. 200& at 8:30 Lm. In the EConomic Dever-
opment Council of Collier County Conferenc.
Room, 3050 North Horseshoe Drive. Suite 120
Naples, Florida, 34104 for the PYfpo.e of recelvllll
public comments and heertna. dliculllon concern
Ing the prllllOHd IIILIlIIlCI Ollhe~. Come
County Inaustrlal Develqpment AuthorttY Varlabh
Rate Industrlat Revenlll. Bond (Seac:rest: 5d1ool. IIlI:
ProJect) Serle. 2006 III an amount not to excIII
$14,000,000 to be USed to finance the acqu'sltlOll
construction. and ~ulpplng of certaln educatlOl'll
facilities deserlbed 1MiloW,
PICKWORTH, DONALD P.A.
5150 TAMIAMI TRL N #502
NAPLES FL 34103
l.proJect Description: land aCClulsltlon, prepara
tlon and site work: Construction of clll..rOO"
buildings and/or acquisition of moduIV Cl&llroon
buildinGS, acquisition of educatlonlll and aclnilnl.
tratlve equipment.
2.ProJect locatlon: 7100 Davis Boulevard. Naples
Flortda 34104 .
3.lnltlal Operator and OWner: Seac:rest School, tnc
(a Florida corporation not for profit)
All Interested persons are Invited to submit wrlttlt
comments or attend the he~lng. either Jl!IDOI)Ilt
or tlvough their repre.entatlve. and will De glvei
an oppqitunlty J,o =~Ir views concernl",
~~fr:Jr~~.;grco':ments In ~=~~
may .8IllI1UCh comments to:
Collier COunty IndllStrla' Development AuthorItY
C/o Economic Dlvelopmei1t Council
3050 North Hol'Mshoe 1)rIve~ ~Itt 120
. Naples, florida 34111't
Copies of the applications for "nanclng are alia!
able for Inspection and copyl!lll at the Offlce of t~
Economic Development COuncil SlIt forth above.
SHOULD AHY PERSON DECIDE TO APPEAL ANY DEC
SION IIIADE BY THE AUTHORITY WITH RESPECT T
ANY MATTER CONSIDERED AT SUCH HEAIIINO, sue
PERSON WILL NEED A RECORD OF THE PROCEEI
INGS AND, FOR THAT PURPOSE. SUCH PERSON 11I,1
NEED TO ENSURE THAT A VERBATIM RECORD C
THE PROCEEDINGS IS MADE. WHICH RECORD II
ClUDES THE TESTIMONY AND EVIDENCE UPO
WHICH THE APPEAL IS TO BE BASED.
In accordance wlttl the Amerk:ans wlth Dlsabllltll
Act. persons needing a special accommodation 1
partlClPllte In this hearing should contact Donald
Pickworth, General Coun.el, at (941) 263.8060 r
later than sIVen m dayS prior to the heVtng.
AD SPACE: 140.000 INCH
FILED ON: OS/22/06 ~,~:~iTJ:v:~~~nCg::~~~d~'on 147(f)
- ~ - - - - - - - - - - - - - - - - - - - - - - - - - - -) - - - - - ~- - - - - - - - - - - - + - - - - - - - - - - - - - - - - - ~~~l~~~~ Gentral COunsel
S~gnature of Affiant LJ..........-- \ Mall'!. . Nn I"UI~~
Sworn to and Subscribed be~ore me this ~ day of
~) OAL:l
State of Florida
County of Collier
Before the undersigned authority, personally
appear~d B. Lamb, who on oath says that she serves
as Ass~stant Co~orate Secretary of the Naples
Daily News, a da~ly newspaper published at Naples,
in Collier Countv, Florida: that the attached
copy of advertis~ng was published in said
newspaper on dates listed.
Affiant further says that the said Naples Daily
News is a newspaper ~ublished at Naples, in said
Collier County, Flor1da, and that the said
news~aper has heretofore been continuously
publ~shed in said Collier County, Florida, each
day and has been entered as second class mail
matter at the post office in Naples, in said
Collier County, Florida, for a period of 1 year
next preceding the first publication of the
attached copy of advertisement; and affiant
further says that she has neither paid nor
promised any person, firm or corporation any
discount, rebate, commission or refund for the
purpose of securing this advertisement for
publiction in the said newspaper.
PUBLISHED ON: OS/21 OS/21
mo._'-i- 20~
Personally known by me
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EXHIBIT A TO AUTHORITY
RESOLUTION