Backup Documents 10/28/2025 Item #11B 1 1 13
ORIGINAL DOCUMENTS CHECKLIST & ROUTING SLIP
TO ACCOMPANY ALL ORIGINAL DOCUMENTS SENT TO
THE BOARD OF COUNTY COMMISSIONERS OFFICE FOR SIGNATURE
Print on pink paper. Attach to original document. The completed routing slip and original documents are to be forwarded to the County Attorney Office
at the time the item is placed on the agenda. All completed routing slips and original documents must be received in the County Attorney Office no later
than Monday preceding the Board meeting.
**NEW** ROUTING SLIP
Complete routing lines#I through#2 as appropriate for additional signatures,dates,and/or information needed. If the document is already complete with the
exception of the Chairman's signature,draw a line through routing lines#I through#2,complete the checklist,and forward to the County Attorney Office.
Route to Addressee(s) (List in routing order) Office Initials Date
1. County Attorney Office CAO 7/1k/� �d 1
(( LB
2. Board of County Commissioners Office BOCC
3. Minutes and Records Clerk of Court's Office
4vrn4/d u/s
///5/015
4. Send via email to:
Tara.CastilloAcollier.gov
PRIMARY CONTACT INFORMATION
Normally the primary contact is the person who created/prepared the Executive Summary. Primary contact information is needed in the event one of the addressees
above,may need to contact staff for additional or missing information.
Name of Primary Staff Tara Castillo-Financial 2885 S. Horseshoe D1' 252-7265
Contact/ Department Operations Manager
Agenda Date Item was (O'as Agenda Item Number 11.15
Approved by the BCC
Type of Document r��
Attached ix-soluh un AA 9 Documents Attached
PO number or account
number if document is N/A
to be recorded
INSTRUCTIONS & CHECKLIST
Initial the Yes column or mark"N/A" in the Not Applicable column,whichever is Yes N/A(Not
appropriate. (Initial) Applicable)
1. Does the document require the chairman's original signature STAMP OK Certified TC
2. Does the document need to be sent to another agency for additional signatures? If yes, N/A
provide the Contact Information(Name;Agency;Address; Phone)on an attached sheet.
3. Original document has been signed/initialed for legal sufficiency. (All documents to be TC
signed by the Chairman,with the exception of most letters,must be reviewed and signed
by the Office of the County Attorney.
4. All handwritten strike-through and revisions have been initialed by the County Attorney's N/A
Office and all other parties except the BCC Chairman and the Clerk to the Board
5. The Chairman's signature line date has been entered as the date of BCC approval of the TC
document or the final negotiated contract date whichever is applicable.
6. "Sign here"tabs are placed on the appropriate pages indicating where the Chairman's TC
signature and initials are required.
7. In most cases(some contracts are an exception),the original document and this routing slip
should be provided to the County Attorney Office at the time the item is input into SIRE. TC
Some documents are time sensitive and require forwarding to Tallahassee within a certain
time frame or the BCC's actions are nullified. Be aware of your deadlines!
8. The document was approved by the BCC on ID) ) and all changes made during
the meeting have been incorporated in the attached document. The County 5;40, h'
Attorney's Office has reviewed the changes,if applicable.
9. Initials of attorney verifying that the attached document is the version approved by the
BCC,all changes directed by the BCC have been made,and the document is ready for the j��
Chairman's signature.
I:Forms/County Forms/BCC Forms/Original Documents Routing Slip WWS Original 9.03.04,Revised 1.26.05,Revised 2.24.05;Revised 11/30/12
11 (3
DRAFT#1: 9/3/25
881-00002.FF14
RESOLUTION NO. 2025-229
A RESOLUTION OF THE BOARD OF COUNTY
COMMISSIONERS OF COLLIER COUNTY, FLORIDA,
AUTHORIZING THE BORROWING OF NOT
EXCEEDING $65,000,000 FROM THE POOLED
COMMERCIAL PAPER LOAN PROGRAM OF THE
FLORIDA LOCAL GOVERNMENT FINANCE
COMMISSION PURSUANT TO THE TERMS OF THE
LOAN AGREEMENT AMONG THE COUNTY,
JPMORGAN CHASE BANK, N.A., AND THE
COMMISSION IN ORDER TO FINANCE THE COSTS OF
VARIOUS STORMWATER CAPITAL IMPROVEMENTS,
INCLUDING THE REIMBURSEMENT OF ANY
EXPENSES INCURRED BY THE COUNTY IN
CONNECTION THEREWITH; AUTHORIZING THE
EXECUTION OF A LOAN NOTE OR LOAN NOTES TO
EVIDENCE SUCH BORROWING AND AGREEING TO
SECURE SUCH BORROWING WITH A COVENANT TO
BUDGET AND APPROPRIATE LEGALLY AVAILABLE
NON-AD VALOREM REVENUES OF THE COUNTY,ALL
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 I. 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 otherwise 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 Public
Agency pursuant to Sections 5.02(b), 5.02(c), 5.02(d), 5.05, 6.06(e) and 8.04 of the Loan
Agreement.
"Bank" means JPMorgan Chase Bank, N.A., and any successors thereto.
"Board" means the Board of County Commissioners of the Public Agency.
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"Chairman" means the Chairman or Vice Chairman of the Board, and such other
person as may be duly authorized to act on his or her behalf.
"Clerk" means the Clerk of the Public Agency, 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 Manager" means the County Manager of the Public Agency and any
designee of the County Manager.
"Designated Revenues" means (1) the Public Agency Moneys, and (2) the
proceeds of the Loan pending the application thereof.
"Loan" means the loan to be made by the Commission to the Public Agency 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 30, 2018, among
the Public Agency, the Commission and the Bank, as the same may be 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 on the Loan Amounts payable by the Public Agency pursuant to the provisions of
the Loan Agreement and all other payments, including Additional Payments, payable by
the Public Agency pursuant to the provisions of the Loan Agreement.
"Non-Ad Valorem Revenues" means all legally available revenues of the Public
Agency 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.
"Program" means the Pooled Commercial Paper Loan Program established by the
Commission for which the Bank currently provides the Credit Facility.
"Project A-4" means the acquisition, construction and equipping of various
stormwater capital improvements as described on Exhibit A hereto and as more particularly
described in the plans and specifications on file with the Public Agency, and as the same
may be amended or modified from time to time.
"Public Agency" means Collier County, Florida,a political subdivision of the State
of Florida.
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"Public Agency Moneys" shall mean the moneys budgeted and appropriated by
the Public Agency from Non-Ad Valorem Revenues for payment of the Loan Repayments
pursuant to the Public Agency's covenant to budget and appropriate such Non-Ad Valorem
Revenues contained in Section 6.04 of the Loan Agreement.
"Resolution" means this Resolution, as the same may from time to time be
amended, modified or supplemented.
"Series 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 similar
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. AUTHORITY FOR RESOLUTION. This Resolution is
adopted pursuant to the provisions of the Act.
SECTION 3. FINDINGS. It is hereby ascertained, determined and declared
that:
(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
Public Agency, desiring to finance the cost of acquiring, constructing and equipping capital
improvements and to finance 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)" pursuant
to the Program and shall loan the proceeds of such Series A Notes to public agencies,
including the Public Agency.
(C) Pursuant to the authority of the Act,the Commission has agreed to loan, from
time.to time, to the Public Agency such amounts as shall be authorized herein and in the
Loan Agreement in order to enable the Public Agency to finance, refinance and/or
reimburse the costs of the acquisition, construction and equipping of various capital
improvements and other Public Agency Expenses, including the Project A-4, and the
Public Agency desires to borrow such amounts from the Commission subject to the terms
and conditions of the Loan Agreement.
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(D) There is presently a need by the Public Agency to finance the acquisition,
construction and equipping of the Project A-4 and the most cost-effective means by which
to finance the Project A-4 is by use of moneys obtained pursuant to the Program by means
of the Loan.
(E) The Public Agency hereby determines that the provision of funds by the
Commission to the Public Agency in the form of the Loan pursuant to the terms of the Loan
Agreement and the financing of the Project A-4 will assist in the development and
maintenance of the public welfare of the residents of the Public Agency, 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.
(F) The Loan shall be repaid solely from the Designated Revenues as provided
in the Loan Agreement. The ad valorem taxing power of the Public Agency will never be
necessary or authorized to make the Loan Repayments.
(G) Due to the potential volatility of the market for tax-exempt obligations such
as the Note or Notes to be issued evidencing the Loan, the complexity of the transactions
relating to such Note or Notes and the uniqueness of the Program, it is in the best interest
of the Public Agency to deliver the Note or Notes to the Commission pursuant to the
Program by a negotiated sale pursuant to Section 218.385(1), Florida Statutes, allowing
the Public Agency to utilize the Program in which it participates from time to time and to
enter the market at the most advantageous time, rather than at a specified advertised date,
thereby permitting the Public Agency to obtain the best possible price, issuance costs and
interest rate for such Note or Notes.
SECTION 4. TERMS OF LOAN. The Public Agency hereby approves of
the Loan in an aggregate principal amount of not exceeding $65,000,000 for the purposes
of providing the Public Agency with sufficient funds to finance the Project A-4. The
Chairman and the Clerk are hereby authorized to execute, seal and deliver on behalf of the
Public Agency a Loan Note or Notes and other documents, instruments, agreements and
certificates necessary or desirable to effectuate the Loan as provided in the Loan
Agreement. The Loan Notes shall reflect the terms of the Loan or draws made on account
of the Loan and shall be substantially in the form attached to the Loan Agreement as Exhibit
D. The County Manager shall determine the amount of funding of the Loan in accordance
with the terms of the Loan Agreement as shall be determined necessary to finance the
Project A-4. The repayment of the Loan or the draws made on account of the Loan shall
be made at such time or times as shall be determined by the County Manager and shall be
permitted by the Loan Agreement and set forth in the Loan Notes; provided, however, the
final maturity may not be later than five (5) years from the date of issuance. The Loan is
subject to mandatory prepayment in accordance with Section 5.06 of the Loan Agreement.
Draws made in regard to the Loan shall bear interest at the Loan Rate in accordance with
the terms of the Loan Agreement. The Public Agency further agrees to make all Loan
Repayments required of it pursuant to the terms of the Loan Agreement. The letter of credit
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fee with respect to the Loan shall equal such amount as may be agreed upon between the
County Manager and the Bank so long as such fee does not exceed 110 basis points.
SECTION 5. AUTHORIZATION OF PROJECT A-4. The Public
Agency does hereby authorize Project A-4 as described herein and the reimbursement of
any costs incurred by the Public Agency with respect to Project A-4 within the prior 60
days that are approved by bond counsel to the Program.
SECTION 6. SECURITY FOR THE LOAN. The Public Agency's
obligation to repay the Loan 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
Public Agency to repay the Loan shall not be deemed a pledge of the faith and credit or
taxing power of the Public Agency and such obligation shall not create a lien on any
property whatsoever of or in the Public Agency other than the Designated Revenues.
SECTION 7. RESOLUTION TO CONSTITUTE CONTRACT. In
consideration of the making of the Loan by the Commission, this Resolution shall be
deemed to be and shall constitute a contract between (i) the Public Agency and (ii) the
Commission andthe Bank.
SECTION 8. GENERAL AUTHORITY. The members of the Board and
the officers, attorneys and other agents or employees of the Public Agency 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 Public Agency 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 9. SEVERABILITY. If any one 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.
SECTION 10. REPEAL OF INCONSISTENT RESOLUTIONS. All
resolutions or parts thereof in conflict herewith which seek short-term financing of the
Project A-4 of the Program are hereby superseded and repealed to the extent of such
conflict.
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SECTION 11. EFFECTIVE DATE. This Resolution shall take effect
immediately upon its adoption.
DULY ADOPTED, in Regular Session this 2g' -day of Qctob , 2025.
COLLIER COUNTY, FLORIDA
(SEAL)
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\�.40 • c< Chairman, Board of County Commissioners
ATTEST'• ,
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Cr 1 I .. , el,clock ,
Pc Attest as to Chairman's
By: Deputy CYer
signature only
Approved as o Form and Legal
Suffi•'- y:
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EXHIBIT A
PROJECT A-4 DESCRIPTION
Project A-4 generally includes the following, as more particularly described in the
plans and specifications on file with the Public Agency, as the same may be modified from
time to time:
Automation - Ongoing program monitoring the water levels at various locations in the
county, maintaining existing and additions of new stations.
SW Pipe Replacement- Ongoing stormwater pipe replacement county-wide.
Boldt Weir - Replacement of the Boldt Canal Weir at the Golden Gate Canal in
conjunction with development of the Big Corkscrew Regional Park.
GG Outfalls - Replace 25 outfall pipes and associated inlet/outfall structures in Golden
Gate City to improve stormwater management system.
Palm River - This is multiyear improvement project being developed in coordination
with the Public Utilities Department to include stormwater management, water and
wastewater improvements within the Palm River community.
Poinciana Village - The project includes replacement of the existing stormwater
management outfall pipes and structures in the Poinciana Village Subdivision. The pipes,
inlets, and structures have exceeded their useful life.
Naples Manor - The project includes the removal and replacement of deteriorated
infrastructure along the north side of Carolina Ave, Carlton Street and Catts Street
SW.
VBR Drive Swale - Conners Ave, replacement of one outfall in the lowest part of the
street.
Naples Park - In coordination with the Public Utilities Division, this project includes
water main and sanitary sewer collection system replacements, as well as roadside
stormwater management system improvements. Roadside stormwater improvements
are occurring in conjunction with utility replacement work on all east-west streets in the
Naples Park Subdivision.
Lake Park Flow way - The Lake Park Flow Way project seeks to improve water quality
and restore historic water flow paths to the Rookery Bay Estuary, while upgrading
essential infrastructure in the Lake Park area.
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Goodlette Ditch A&B - A - The Goodlette-Frank Road Ditch requires improvements
to enhance the conveyance capacity of stormwater flow to the Gordon River to
reduce flooding in residential and commercial developments west of Goodlette-Frank
Road along approximately 2 miles of ditch on the west side of the Goodlette-Frank
Road from Granada Boulevard to Golden Gate Parkway. B - Goodlette-Frank Road
Ditch improvements from Center Street to just south of Vanderbilit Beach Road.
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