Resolution 1994-015
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RESOLUTION NO. 94-~
JANUARY II, 1994
RESOLUTION OF THE BOARD OF COUlITY COMMISSIONERS OF
COLLIER COUNTY, FLORIDA, AUTHORIZING RAYMOND JAMES AND
ASSOCIATES, INC. TO ACT AS SELLING AGENT FOR COLLIER
COUNTY TO SELL ONE HUNDRED FOUR SHARES OF COMMON STOCK
AND SIXTY SHARES OF CONVERTIBLE REDEEMABLE PREFERRED
STOCK, ALL IN U.S. HOMES CORPORATION; AND AUTHORIZE
THE COUNTY FINANCE DIRECTOR TO DO ALL THINGS NECESSARY
AND PROPER TO CARRY OUT THE STOCK SALES.
WHEREAS, Collier County is the owner of one hundred four
(104) shares of common stock in U.S. Homes Corporation; and
WHEREAS, Collier County is the owner of sixty (60) shares
of convertible redeemable preferred stock in U.S. Homes
COrporation; and
WHEREAS, the one hundred sixty-four (164) shares of stock
vere acquired by Collier County in settlement of the County's
claim in Federal Bankruptcy Court for overdue utility bills;
and
WHEREAS, staff has recommended that Collier County sell the
one hundred sixty-four shares of stock for cash and deposit the
net proceeds from the sale thereof into the appropriate utility
account; and
WHEREAS, Raymond James and Associates, Inc., a registered
stockbroker in the State of Florida, requires form~l
authorization from the Board of County Commissioners to act as
the County's selling agent regarding sale of the subject one
hundred sixty-four (164) shares of stock.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS OF COLLIER COUNTY, FLORIDA that: .
1. Raymond James and Associates, Inc. is hereby authorized
to act as the selling agent for the County of Collier, a
political subdivision of the State of Florida, to sell for the
best available price, for cash, one hundred four (104) shares
of common stock in U.S. Homes Corporation and sixty (60) shares
of convertible re~eemable preferred stock in U.S. Homes
Corporation.
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JANUARY II, 1994
2.
The net proceeds of such sale are to be conveyed to
collier County for deposit into the appropriate utilities
account.
3. The Finance Director is hereby authorized and directed
to execute and deliver any and all papers and instruments, and
to cause to be done any and all acts and things necessary or
proper to carry out the contemplated stock sales.
4. This Resolution shall be effective immediately upon
adoption by the Board of County Commissioners.
This Resolution adopted after motion, second, and majority
vote in favor of adoption.
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~~,~~~ 11, 1994
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~,Gm:.1;."B!~' Clerk
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Approved as to form and
leg SUfficiency:
Attorney
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