Resolution 1996-328
.J U L 2 3 19~IR
RESOLUTION NO. 96-328
A RESOLUTION OF THE BOARD OF COUNTY
COMMISSIONERS OF COLLIER COUNTY, FLORIDA,
AUTHORIZL~G THE BORROWING OF NOT EXCEEDING
$3,750,000 FROM THE POOLED COMMERCIAL PAPER
LOAN PROGRAM OF THE FLORIDA LOCAL
GOVERNMENT FINANCE COMMISSION PURSUANT TO
THE TERMS OF THE LOA;'l AGREEMENT BETWEEN THE
COMMISSION AND THE COUNTY IN ORDER TO
FINANCE VARIOUS STORMWATER DRAINAGE
IMPROVEMENTS WITHIN THE NAPLES PARK AREA
DRAINAGE LMPROVEMENTS MUNICIPAL SERVICE
BENEFIT U>HT; AUTHORIZING THE EXECUTION OF A
LOAN NOTE OR NOTES TO EVIDENCE SUCH
BORROWING; AGREEING TO SECURE SUCH LOAN
NOTE WITH A COVENANT TO BUDGET AND
APPROPRIATE LEGALLY AVAILABLE NON-AD
VALOREM REVENUES AS PROVIDED IN THE LOAN
AGREEMENT; AUTHORIZING THE EXECUTJON AND
DELIVERY OF SUCH OTHER DOCUMENTS AS MA Y BE
NECESSAR Y TO EFFECT SUCI-I BORROWD~G; AND
PROVIDING AN EFFECTIVE DATE
BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF
COLLIER COUNTY, FLORIDA:
SECTION 1. 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.
"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 ofCount'J Commissioners ofth" County.
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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 Circuit Court for the County, ex-officio Clerk of the
Board, and such other per:;on as may be duly authorized to act OIl 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 (If
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 Public Agcncy Moncys budgeted and appropriated
for purposes of payment of the Loan Repayments and any other amounts due under the Loan
Agreement.
"Draw Date" has the meaning set forth in the Loan Agreement.
"Loan No. A-9-I" means the Loan designated as "Loan No. A-9-1" the proceeds of
which arc to bc used to finance Project A-9.
"Loan" means the loan to bc made by the Commission to thc County from proceeds
of thc Series A Notes in accordancc with the terms of this Resolution and of the L03;l
Agrcement.
"Loan Agreement" means the Loan Agreemen~ dated as of April 12, 1991, betwcen
the County and the Commission, as amend cd and supplementcd and as the same may b,:
furthcr amended and supplemented.
"Loan Rate" has the meaning set forth in the Loan Agrccment.
"Loan Repayments" or "Repayments" means thc payments ofpnncipal and interest
at the Loan Rate on thc Loan amounts payable by the County pursuant to the provisions of
the Loan Agrecmcnt and all other payments, including Additional Payments, payable by the
County pursuant to the provisions of the Loan Agrcement.
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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 COUIlty for the payment of
services and programs which are for essential public purposes affecting the health, welfare
and safety of the illhabitants of the County or which are legally mandated by applicable law.
"Program" means the Pooled Commercial Paper Loan Program established by the
Commission.
"Project ..<\-9" means the costs and expenses relating to the acqUlSttJon and
construction of vmious stormwater drainage improvements within the Naples Park Area
Drainage Improvements Municipal Scrvice Benefit Unit described in Exhibit A hereto, 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 Moneys" shall mean the moneys budgeted and appropriated by the
County for payment of the Loan Repayments and any other [ill1ounts due hereunder from
Non-Ad Valorem Revenues pursuant to the County's covenant to budget and appropriat,~
such Non-Ad Valorem Revenues contained in Section 6.04 of the Loan Agreement.
"Repayment Schedule" means the schedule of Repayments of the Loan as
determined by the County Administrator, as the same may be amended or modified from
time to time.
"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.
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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
County, desiring to finance and refinance the cost of acquiring, constructing and equipping
capital improvements and to finance and refmance other governmental needs.
(B) In furtherance of the foregoing, the Commission shall issne, from time to time,
commercial paper notes to be known as "Florida Local Govcrrumcnt 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 COWlty to finance, rcimburse or refinance the cost of
acquisition, construction and equipping of capital improvements.
(D) The County presently has outstanding $20,988,735 principal amount of Loans
pursuant to the Program for the acquisition and construction of various capital improvements.
(E) The County desires to borrow an additional amount not to exceed $3,750,000
in order to finance Projcct A-9.
(F) The County hereby detennines that the provision of fund:; by the Commission
to the County i.il the form of Loan No. A-9-l pursuant to the tenns of the Loan Agreement
and the financing ofProjcct A-9 \vill assist in the development and maintenance of the public
welfare of the residcnts of the County, and shall serve a public purpose by improving the
health and living conditions, and providing goverrumenta] services, facilities and programs
and will promote tlJe most efficient and economical development of such services, facilities
and programs.
(G) Loan No. ;\-9-1 shall be repaid solely from the De,ignated Revenues Such
Designated Revenues shall include moneys derived [rom 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.
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SECTION 4. TERMS OF LOANS. TIle County hereby approves of Loan No.
A-9-1 in the principal amount of not exceeding $3,750,000 for the purpose of providing the
County with sufficient filnds to fmance Project A-9. TIle 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-S!-l and other documents, instrumcnts, agreements and certificates
necessary or desirable to effcctuate Loan No. A-9-1 as provided in the Loan Agreement. TIle
Loan Note or Notes with respect to Loan No. A-9-1 shall reflect the terms of such Loan and
shall be substantially in the form attached to the Loan Agreement as Exhibit I. The County
Administrator shall make the Draw Request with respect to Loan No. A-9-1 in accordance
with the terms of the Ulan Agreement at such time as shall be determined by the County
Administrator as appropriate to fmance Project A-9 and is permitted by the Loan Agreement.
Loan No. A-9-1 shall mature in accordance with the repayment schedule attached hereto as
Schedule 1. Loan No. A-9-1 shall bear interest at the Loan Rate in accordance with the
telms 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-9-1 shall be 35 basis points or such other amount as First Union National Bank
of Florida and the County shall agree.
SECTION 5. AUTHORIZATION OF PROJECT A-9. The County does
hereby authorize the acquisition and construction of Project A-9.
SECTION 6. SECURITY FOR THE LOAN. TIle COlmty's obligation to
repay Loan No. A-9-1 will be securcd by a pledge of and licn upon the Designated Revenues
in accordance v:ith the terms of the Loan Agreement. TIle obligation of the County to repay
Loan No. .'\-9-1 shall not be deemed a pledge of the faith and crcdit 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 Dcsignated Revenues.
SECTION 7. GENER4.L AUTHORITY. TIle members of the Board and the
oElicers, attorneys and other agents or employees of the County are hereby authorized to do
all acts and things requircd of them by this Resolution and the Loan Agreement, or desirable
or consistent with the rcquirements 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 canying out the transactions contemplated by this Resolution and the
Loan Agreement.
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SECTION 8. SEVERABILITY. If anyone or more of the covenants,
agreements or provisions herein contained shall be held contrary to any express provision
oflaw 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 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
irtunediately upon its adoption.
DULY ADOPTED this 23rd day of July, 1996.
(SEAL)
ATTEST:
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APPROVED AS TO FOJU"f AND
LEGAL SUFFICIENCY:
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(_ ^ . I ',- .County Attorney
BOARD OF COUNTY COJ\.1MISSIONER~;
OF COLLIER COUNTY, FLORIDA
By:f~~
~1TIan
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SCHEDULEl
PROPOSED REPA YMENT SCHEDULE
The principal of Loan No, A-9-1 shall be repaid as follows:
Dat~
Principal Repayment
December 5, 2000
$3,750,000
Interest on Loan No. A-9-1 shall be paid monthly in accordance with the terms and
provisions of the Loan Agreement. Additional Payments shall also be made in accordance
with the Loan Agreement.
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EXHIBIT A
DESCRIPTION OF PROJECT A-9
The .tOITJater d.rainaq. 1.a:provaa.nt.. t.o be cone-:ructa4 vltb.in the
Hapl.. Park Ar.. oraina;. I.provuanta Hurlicip..l Service kn.tit
Unit. tor the 41~eh enclolur.. in the vicinity ot 'lat./,and Avenue
and .th Str..t and tar out tAll iaprcYWanata alon9 Van4arbl1t Drive
and: North .of 111th Avtn\.1. ahall c.onaiet ot:
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20 11n..l te.t ot 12" RCP.
50 lin..l t..t of lS. acp
5' line.l t..t of 12- xl.. kCP
1,724 11n.~1 t..t or 1" acr
'02 111'1..1 t..t of %4- lCP
'7' lin.al t..t ot 2'" x).. RCP
60 lin.al r'llt of 30. RO
157 111'1..1 filet ot 3'" lCP
'47 11n..l t.et of 42. kC7
71' lin..l taat ot 5.- .CP
'31 lin..l tla.t ot 10" RC?
3"~ lina.l teat of 72" JCP
<I!531 I1nt,.1 :te.t of ..- J.CP
40 lin.al tacit '" PVC 'ertor.te4 71pe tt/.oek
1 each or Type J..1t Inlet v.'Special
kaintorcinq {.tructura S-I)
l' .ach or TJrp.e .1-. contllC't Sox
12 uch or Type .1-' Inlet v/Typ. I R1..r
1 uc.h of 'typ.. If Inl.t
1 ...ch of 'I'Yva J-A Inl.t "'/Type H ai.ar
1 ...en ot 'l"yJ~ E Jli..r on ~4. JlO
1 ..ch ot 'tyl). I; ai..r on '0. .0
" .ach ot T)~ I R1..r on 7l" RC?
t ..c.h or '1'yJHt . Aller en '4. acp
1. .ach of T}~. C I~l.t
52 .ach of T)'p, E Inlet
2 .ach ot 1.2- x 11- )fit.red. End Sectlon v/COTlc. Apron
11 ..ch of .- AC W~t.raaln Dotlection under It ora Sevlr
14 .ach of '" AC W.t.~ln Deflection over Stor_ S.v.r
1 .ach of 12" DIP Wateraain nltlection over Storm Siver
11 ~ach of Wat.ra.!n AutcAatic Air R.I.... Va Iv.
1 .ach of .,. W.adwall
, .actl ot IS" Kit.red. Elld Section V/Conc. Apron
2 ..ch or 10. CI Tore..ain Olflectlon undar Stora Sever
1 .ach of 10" CI 1orc~main Deflection over Storm Siver
1 .ach of 20- eI rorce..ln Detlection over Storm Sewer
1,17' cu.yd. txce.. rill to 'A.ova
. .ach lidevaIk ~..torlt1~n
5 .ach Saav~ll ~..tcration
'eech Tr.. ~.loe.tion
2217.1 cu.yd. :t..at.ral Ditch txc,vltien
126~ eu.yd. Ltteral Ditch Embankment
S.8' acrta ot Cl..ring and Grubbing
llU cu.yd. 01 IUp Rop
4 e.c.h ot C. 1:1 'orca:..!n OetlaC'ticn under Itora Sever
2 .act!. of .. (:1 Torc....in t>etl.et10n und.r .to", 'I"".r
1 .ach of C" ':1 'orc...in I)eflection over StOnt ......r
1 .ach or I" 1:1 Torc....in D.flection over StOnt Sev.r
. .ach ot rnrc:...in A\lto..tlc AIr ..1..... Valve
17,41' lineal t..t ot S~al. Oradinq
],15' C'U.y4. nt bb&nJalant tQr ".c.kfill
1',775 ten. o1~ S.lact hddinq ()(04 57 Stene)
20,0" .q. l'<1'1 of T.11t.r Tabrie
3,000 cu. yd.. ct lub.oil Excavation (p.at)
.',042 .q.y~a. or Soddinq
4,'75 11n...1 r.at at Pipe aa.oval
'0 ..ch of 1{fll,d:W'all ftamovel
7 uc.h of 11i t4rld Znd Jt.moval
2' .ach of Catch .a.in Jtaaoval
72 .ach ot Ro.dc~t ~..tor.tion
11 .aeh of Crivlvay ~e.~or.tion
1 .ach Wood.n Ir1dge R..toration
nL Holdinq/hloc.ate pover Pol. durill9 Con.true.t1on
1 LS Traffic MAintenanc.
1 .ach Wall llcteration OO(}
'04 lin.d .to.t Staked Turb1dlty 'arrier 800K PAr,: 53
510 lin..l t..t 710atlnq ~rbidity aarr.1er
7 ton Hay Dall.
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