Resolution 1998-479
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RES. 98-479
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A RESOLUTION OF TilE BOARD OF COUNlY COMMISSIONERS OF
COLLIER COUNlY. FLORIDA APPROVING TilE ISSUANCE AND SALE
OF REVENUE BONOS BY TIlE COLLIER COUNlY I1EALTII FACILITIES
AUTIIORIlY, AS RQUIRED BY SECTION 147(1) OF TIlE INTEI~N^L
REVENUE CODE, AS AMENDED; AND PROVIDING FOR OTIIEI~
RELATED MATTERS.
Whereas, the Collier County lIealth Facilities Authorit), (Ihe "Collier Authority") is (i) a
body corporate and politic and a special district of Collier County, Florida ("Collier County")
created by Collier County Ordinance No 7').95 duly adopled by Ihe Board on Nllwllluer 20,
1979 pursuant to the Florida lIealth Facilities Authorities Law (Pan III of Chapter 154, Florida
Statutes), as amended (the "lIealth Facilities ACI"), (ii) a "public agency" as defined in Section
163.0 I. Florida Statutes, as amended. which is titled the "Florida Interlocal Cooperation Act of
1969" (the "Act"), and (iii) a "health facilities authority" as defincd in the Health Facilities Act,
and a "local agency" under Section 159.27(4) of the Industrial Development Financing Act (Pan
II of Chapter 159. Florida Statutes). as amended (the "Industrial Act"), with the power to issue
revenue bonds for the purposes of financing a "project" as detined in the Ilealth Facilities Act
and the Industrial Act; and
Whereas. Clevcland Clinic Florida (A Nonprofit Corporation), a Florida not ti.lr protit
corporation, with cenain facililies located within the boundaries of Collier and Broward Counties
Florida, (the "'nterlocal Borrowcr") and Cle~'eland Clinic Florida Naplcs Ilospilal Non Profit
Corporalion, a Florida nOl for prolil corporation with I:\cilities located within the bllundaries of
Collier (oumy (collectively with the lnterlocal Borrower, the "Borrowers"), have requested the
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Collier Authority to issue its revenue bonds (the "nonds") for the benefit of the Borrowers and
to loan all or a ponion of the proceeds thereof to the borrowers to, among other things. (i) payor
reimburse the Borrowers for the payment of, or to refinance cenain prior debt the proceeds of
which were used to pay, costs of acquiring. constructing, renuvating, rehabilitaling and equipping
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n'rtain h,';lIlh"Hl'e !:lei lities IUl'alcd in ('llllil'" 'lIId IlrowanI Cuullties, Flurida (Ih,' "pl"ll"""1. 1111
pay a portioll of thc illleresl olllhe llolllls during Ihe al'l\uisilion and eOllslrllrlitlll "f Ih<, 1""1,..1,
(Iii) rllnd a dchl sell'il'e reselTe lillld till' the hcnelit oflhe Ilonds, ifde,'nll'd 1ll',','SS;1I1 '"
desirahk hy the IIllrn>wers, and (i\') pay eerlain expenses inClined in connedi"n 1\ ilh Ih\'
issn;\I1,'l' Ilfthe IIllnds, inclnding. without limitalion, the eoslllrany credit enhalll'ellll'nl "I'
li'l"i,hty enhanel'lllenl, ifdeellle,lnel'ess,try or desirahle hy Ihe lIorrowers, all as Pl'lIll1l1l'lI hI th"
I kalth r:al'ililies Act or the Indnstrial Acl: all"
\\'II\:r\'..a~. ill Lllller to ;!l'!..'tHllplish ('CtllHllllics or scale alld other I.'usl S:l\'ill!~S. .lIld tll fL,dlll'I'
the ..oslS "I' 1'''''' ,din).: hl'allh ..are sel"l'il'es in ('oilier ('o.nlly, IIIl' ('Illlic-r Antho,,"' dl's",'s '0
aSSlsllhl' 11,'rnlllCls hy issnlng the lIollds; and
\\'hl'reas, in order 10 acemnplish the pnrposes orlhe Aet, lhe Collier Anlhllr;ly has
I'nlercd illtll an Inlerlocal Agreelllenl(the "Inlerloeal Agreelllent") wilh Ihe Ill'lllla...I/\nlhoriIY
to pl'lll'idl' li'r thc issllanec hy the ('oilier /\ulhorily Ilf its 1I0llds I'm Ihe hellelilor th,' 1lIll'rlo..al
Borrower; :tnd
Whercas. Section 147(1) of the Intenml Revcnllc Code or 1')&6. as alllended (the "( 'odc").
prol'idcs thai the elected legislative body ofthc governmental lIuil which hasjlll'isdiclionlll'l'r
the area in which the r.lcilily financed wilh the proceeds of tax exempt honds is Illl'all'd is 10
appro\'e the issuance urslIeh honds aOcr a puhlic hearing: alld
Whereas, the Board orCollllly Commissioners or Collier ('ollnly, Florida (Ihl' "lIllal'l''') 's
the e1ecled legislati\'e body ofthc Counly; ami
"'hell'as, thl' III'l'rIIWerS eallsed nol iel' or a puhlie heari IIg 10 ..ollsllkr appro"" of Ih,'
UOllds alld the localioll and nature oflhc project to he financed wilh the proceeds orlhe n,,,,ds to
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be published on or before November 10, 1998, in the Naples Daily News a newspaper of general
circulation in the Counly, and a eopy ofsaid notiee is attached as Exhibit A (the "Notice"); and
Whereas, the Collier Authority held a puhlic hearing on November 24. 19I)R, nOllee l;i'en
as required hy the Code and has submilled a copy of the minules of such public hearing, tog~lher
with all wrillcn public commcnts which it received to the Board and has rccommend~d to thc
Board thai il approve Ihe issuance orthe Bonds in accordance with Seclion 147(1) orthe Clllk;
and
Whereas the Broward County Board of County Commissioners has approved lhl' issll,lI1ce
of the Bonds with respect to those ponions of the projecllhal arc located within Ihe hound arks
of Broward County, Florida by its Resolution 1998-1100 adopted November 3, 1998, a copy of
which is allached as Exhibit B; and
Whereas, for the reasons set fonh above, it appears to the Board that the approv.lI or Ihc
issuance and s:lle of such Bonds as required by Section 147(1) orthe Code is in Ihe nest interests
of Collier Counly,
NOW, THEREFORE, Be It Resolved by the Board of County Commissioners orCollier
County, Florida, that:
Section I. Aflflrol'C// of !s,""/IIce a/the RolIC/s. This Board hereby approves Ihe
issuance or Ihe Bonds by the Collier Authorily for the purposes described in Ihe Notice pursuant
10 Section 147(1) of the Code, The Bonds shall be issued in such aggregate principal ,amount,
bear interest at such rates, mature in such amounts and be subject 10 such oPlivn.ll and l1landatl"~
rcdemplions as arc approved by the Collier Authority withoutthc funher approval or this Board,
The Bonds shall nol eonstitule a dcbt, liabilily or obligation of Collier COUl1ly, BrOil aru
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County, their respective Boards of County Commissioners. officers, agents or employees, or the
State of Florida or any political subdivision thereof, but shall be payable solely from the
re\'enues provided therefor, and neither the faith and credit nor any taxing power of Collier
County. Broward Counly. or the State of Florida or any political subdivision thereof is pledged
to the payment of the principal of, premium. ifany, and interest on the Bonds, No membcr of the
Board of County Commissioners of Collier or Broward County or any officer of either shall he
liable personally on the Bonds by reason of their issuancc.
This approval shall in no way be deemed to abrogate any rcgulations of Collier County
and that ponion of the projcet located in Collier County contemplated by Ihis Resolul ion shall be
subjecll" all such r~gulutions, including, hut not limiled 10. the Collier Count)' Growth
~anugement Plan and all concurrency requirements contained therein and the Collier Countv
Lund De~'clopment Code,
Section 2, Sel'erahililY, Ifany section, paragraph, clause or provision of this
Resolution shall bc held to be invalid or incffectivc for any reason, the remainder of this
Resolution shall continue in full foree and effect, it being expressly hereby found and dcclared
that the remainder of this Resolution would have been adopted despite the invulidity or
ineffectiveness of such seclion, paragraph, clause or provision.
Sect ion 3.
Effi'Clil'(" Dall!. This Resolution shall luke effecl immcdiately upon liS
adoption, and any provisions of any previous resolutions in connict with the provisions hercor
are herehy superseded.
PASSED anu Adopted lhis ~~uy ofD~cel11her, 1')l)S,
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ATTEST:
~ B~k.CI"k
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Atte~t aP9!'oul~h)\~'$
$19,lillur~ (,:. :,1,
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[SEAL}
Approved as to forn! and legal sufficiency:
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COLLIER COUNTY, FLORIDA BY
ITS BOARD OF COUNTY
COMMISSIONERS
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