Resolution 1989-053
MARCH 7, 1989
RESOLllTION 89- 53
A RESOLUTION OF THE-BOARO OF COUNTY CO!1MIS-
SIONERS OF COLLIER COUNTY, FLORIDA, APPROVING
THE ISSUANCE OF NOT EXCEEDING $2~;, 000 ,000
HOUSING FINANCE AUTHORITY OF COLLIER COUNTY
MULTI-FAMILY REVENUE BONDS, SERIES 1989 (THE
ROOKERY BAY APARTrolENTS PROJECT) PUF.SUANT TO
CHAPTER 159, PART IV, FLORIDA STM UTES, AS
AMENDED.
BE IT RESOLVED BY THE BOARD OF COUNTY COMMISS lONERS 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 s;!:~e of Florida, was
duly created by Home Rule Ordinance No. 80- b of the Board of
County Commissioners of Collier County, Florida, and is body cor-
porate and politic duly created and existing as a local govern-
mental 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 corporate pur-
poses.
B. The Issuer has submitted to the Board of County Commis-
sioners a copy of its Resolution, attached hereto as Exhibit "A"
(the "Resolution"), with respect to the issuance by it of not ex-
ceeding $25,000,000 Housing Finance Authority of Collier County
Multi-Family Revenue Bonds, Series 1989 (the Rookery Bay Apart-
ments Project) (the "Bonds").
C. A public hearing was held on the Resolution on February
14, 1989, which public hearing was duly conducted by the Issuer
upon reasonable public notice, and at such hearing interested
individuals were afforded reasonable opportunity to express their
views, both orally and in writing, on all matters pertaining to
the location and nature of the proposed leased equipment and to
the issuance of the Bonds.
D. The Issuer has recommended and requested 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 tho
Internal Revenue Code of 1986, a~ amended.
E. The Resolution shows that the Issuer has acted in accor-
dance with all applicable requirements of law, and that the
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MARCH 7., 1989
issuance of the Bonds will serve significant public purposes as
provided in the Act.
F. The purpose of the Act will be effect~vely served, and it
is necessary and desirable and in the best interest of the County
that the issuance of the Bonds be approved by the Board of County
Commissioners.
G. The Bonds shall not constitute a debt, or a pledge of
faith and credit of the Issuer, the County, the State of Florida
or any political subdivision thereof, and neither the Issuer, the
County, the State of Florida nor any political subdivision
thereof shall be liable thereon, nor in any event shall the Bonds
be payable out of any funds or properties other than those of the
Issuer, and then only to the extent provided in the Indenture.
No member of the Board of County Commissioners of the County or
any officer thereof shall be liable personally on the Bonds by
reason of its issuance.
Section 2. Approval of Issuance of the Bonds. The issuance
of the Bonds as contemplated by the Resolution is hereby
approved, however this approval shall in no way be deemed to
abrogate any land development regUlations of the County and the
project contemplated by this resolution shall be subject to all
such regUlations, including, but not limited to, the County's
Growth Management Plan and all concurrency requirements contained
therein.
Section 3. Repealing Clause. All resolutions or orders and
parts thereof in conflict herewith, to the extent of such con-
flict, are hereby superseded and repealed.
Section 4. Effective Date. This Resolution shall take
effect immediately upon its adoption.
PASSED AND ADOPTED this 7.."
1989.
day of
M:n-t'h
COLLIER COUNTY, FLORIDA
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'c a rman of the Board of
County Commissioners 'of
Collier County, Florida
/~~ fil. .
,d County
eol ierCounty, Floriaa
DAP/vab7592
Approved CIS to form & legol suffTclency
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County Attorney,
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