Resolution 1998-497
RESOLUTION 98- 497
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A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF COLLIER
COUNTY, FLORIDA, APPROVING THE ISSUANCE OF NOT EXCEEDING
53,900,000 HOUSING FINANCE AUTHORITY OF COLLIER COUNTY MULTI-
FAMILY HOUSING RSVENGE BONDS, SERIES 1999 (WILD PINES
APARTMENTS) PURSUANT TO CHAPTER 159, PART IV, FLORIDA
STATUTES, AS AMENDED.
BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF COLLIER
COUNrt, FLOR I DA,
Section 1. Recitals.
arld ~eclared that:
It 18 heI"eby found, asCertallled, deternlilled
A. The Houslng Finance Authonty oE Collier County (the "Issuer")
1S ,,1 public corporation of tile Stdte of Florida, was duly created by
Oroi:lance No. 80-66 of the Board of County Commissioners of Collier
COUll: 'i, Florida, and lS a body corporate and POlltic duly created and
eXl~;::lng as a local governmental body and a public instrumentality for
the ;l:npose oE aSS1Stlng qual1Eyulg housing proJects situated in Collle,"
Cou:o::/. Flonda (the "County"l, under and by Vlrtue oE Chapter 159, Part
IV, :'londa Statutes, (the "Act"l, to provide for the issuance cf and to
'Ssue and sell ltS obl'gatlons for lawful purposes under the Act.
B. The Issuer has submitted to the Board of County Commlssioners
a copy of its Resolution (the "Resolution") ,attached hereto as Exhibit
A. ~:tll respect to the lssuance by it of not to exceed $3,900,000 Housing
Fl:"'nce Authonty of Collie," County r'lulti-Famlly Revenue Bonds, Senes
1999 (Wild Pines Apartments) (the "Bonds").
C. A publlC hearing was held on the Resolutlon on December 3,
1998. which public hearing was duly conducted by the Issuer upon
reasonable public notice, copies of sald notice being attached to the
Resolution, and at such hearing interested indiViduals were afforded the
Oppct'tunity to express their views, both orally and in writing, on all
matters pertaining to the location and nature of the proposed project and
to ;'::'1': 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
UlterCSt on the Bonds wi] I be exempt from feder.<:ll income taxation ur.der
appl~cdl)le provisioI1S of Section 147(a) of the Irlternal Revenue Code ot
1986, as amended.
E, The Resoluti.on shows that the Issuer has acted in accordance
with all applicable requirements of law, and that the lSSlIdnce of th~
Bonns will serve significant public purposes as provided in the Act.
F. The purpose of the Act will be effectively served, and it If:
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nec(.ssa!"! and desirable and in the best interest of the County that t~e
iss~dnce of the Bonds be approved by the Board of County Commissio~ers.
G. The Bond shall not constitute a debt, liability or obligatIon
o~ :::-~:lier County, its Board of County Commissioners. officers, agents
or ':'~~~ployees, or the State of FlorIda or any political subdivisiorl
the:~of, but shall be payable solely from the revenues provided
thc:.efo~:e, and neither the faIth and credit nor any taxing po',.:er of
Col ~ :er County, or the State of Florida or any political subdivislon
thereof is pledged to the payment of the principal of, premium, if any,
and interest on the Bond. No member of t.he Board of County Commissioners
of C',:;!: ier County or any offlcer, agent, or employee thereof s!",all be
liat~e personally on the Bond by reason of its issua~ce.
Section 2. Approval of Issuance of the Bonds. The lssuance of tile
Bonds as contemplated by the Resolution is hereby approved, however this
approval shall in no way be deemed to abrogate any regulatlons of the
Cou~t! and the project contemplated by this resolution shall be subject
to all such regulations, including, but not limited to, the County's
GrO~tll Management Plan, all COllcUrrency requirements contained therein.
and the Collier County Land Development Code,
Section), Repealing Clause.
thereaf In conflict herewith, to the
supe:seded and repealed.
All resolu~ions or orders and parts
extent of such conflict, are hereby
Section 4.
immedIately upon
Effective Date.
its adoption.
This Resolution shall
take effect
\: 'elf.'.
P;'.SSED AND ADOPTED TH I S \ _. ~
day of December, 1998.
ISEA:.)
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C.....iS:. r., Brock. Clerk
COLLIER COUNTY, FLORIDA
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Deputy Clerk
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Board of Count}' Commissio~ers
of Coll112r County, Florid"
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ApprlJ'.'ed as to form and legal suffIciency:
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D~~:~~l H -'(J
COU!~;: '/ At torney
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