Resolution 1994-150/CWS 94-3
KARCR 8, 1994
RESOLUTION NO. 94-150
RESOLUTX~ .0. cws_94-3
A RESOLUTION AMENDING A RESOLUTION ENTITLED:
"A RESOLUTION AMENDING IN ITS ENTIRETY A
RESOLUTION OF THE COLLIER COUNTY WATER-SEWER
DISTRICT ADOPTED 011 APRIL 17, 1990 AND
ENTITLED: 'A RESOLOTION AUTHORIZING THE
ISSUANCE BY THE COLLIER COUNTY WATER-SEWER
DISTRICT OF NOT EXCEEDING $15,960,000 IN
AGGREGATE PRIlICIPAL AMOUNT OF ITS SEWER
ASSESSHEl/T BONDS, SERIES 1990 (EAST !UID SOUTH
NAPLES PROJECT), IN ORDER TO FIN!UICE THE COST
OF THE ACQUISITION AND CONSTRUCTION OF VARIOUS
SEWER IHPROVEKENTS WITHIN THE DISTRICT;
PLEDGItIG THE KONEYS RECEIVED FROK SPECIAL
ASSESSHE1ITS UPON PROPERTY BENEFITTED BY THE
AFOREHDlTIONED IHPROVEKElITS TO SECURE PAYMENT
OF THE PRINCIPAL OF AND INTEREST ON SAID
BONDS; PROVIDING A SUBORDIlIATE LIEN ON AND
PLEDGE OF CERTAIN REVElIUES OF THE DISTRICT'S
WATER AND SEWER SYSTEM; PROVIDING FOR THE
RIGHTS OF THE HOLDERS OF SAID BONOS; AND
PROVIDING FOR AN EFYECTlVE DATE FOR THIS
RESOLUTION;' AND PROVIDING AN EFFECTIVE DATE".
~~~, the Colli.r county Water-S.wer District (th.
.I.suer.) has h.r.totor. is.u.d it. Colli.r County Water-Sewer
Di.trict Sewer ".......nt Bonds, Series 1990 (East and South Naples
Project) (the "Bond.") pur.uant to its R.solution No. CWS-90-11,
adopted on July 24, 1990 (th. "Resolution"); and
WJIEJlDB, the Bond. w.r. s.cur.d principally by a pledge ot and
lien upon certain special assessments (the "Special Assessments")
levied upon property benetitted by improvements retinanced trom
proceed. ot the Bonds; and
WHEREAS, the Is.uer is required pursuant to the terms ot the
Resolution to coll.ct the special Assessments on a timely basis;
and
~~, the Issuer deems it is in its best interest and the
intere.t. ot the citizens ot Collier County, Florida to initiate a
hardship d.t.rral program pur.uant to which individuals who are
livinq below the poverty lev.l and are at risk ot losing title to
their hoae. a. a r.sult ot coll.ction ot special assessments such
a. those associated with the Bonds may defer payment ot all or a
portion ot such .p.cial assessments; and
WHY.D~, the Issuer hereby determines to amend the Resolution
to allow tor .uch hardship deterral program as it relates to the
Special As.es.ments;
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KARCR 8, 1994
JIOlJ, TKDD'OU, BB IT RESOLVED BY TBE BOARD OF COUNTY
~l(rBBXOJrEJl8 OF COLLIER COtJJl'lY, FLOllIDA, ACTING AS TBE EX-OFFICIO
Qyv JUUI.u14 BOARD OF TBB COLLIER COO1lTY WATER-SEIfER DISTRICT, 1.S
FOLLOI'B s
BBC'1'ZOJI 1.
Section 5.05 ot the
read as tollows:
AkLau~t TO SECTION 5.05 OF TBE RESOLUTION.
Resolution is hereby amended in its entirety to
BBC'1'ZOJI 5.05. D70JlCEHD'1' OF PAYKEJIT OF SPECIAL ASSESSHENT
~~~. The Issuer will receive, collect and enforce payment of
special Assess.ent Proceeds in the manner prescribed by this
Resolution, the Act, the Assessment Resolutions and all other
resolutions, ordinances or laws appertaining thereunto, and will
pay and deposit the proceeds of special Assessment Proceeds, as
received, into the Assess.ent Account of the Revenue Fund, except
as otherwise provided herein; provided, however, the Issuer may, at
its option, establish a hardship deferral program wherein
individuals whose property is subject to an Assessment and who are
living below the poverty level and who are at risk of losing title
to their h01lle may have all or a portion of their annual assessment
payaent deterred. The Issuer agrees that, to the extent permitted
by law, it will collect the Assessments pursuant to the Tax Roll
Collection Kethod. In the event the Issuer is unable to collect
the Assess_nts by the Tax Roll Collection Kethod, the Issuer
agrees to collect such Assessments in the manner provided in the
Act, inclUding initiating foreclosure proceedings against
properties which are more than 60 days delinquent in the payment of
an Assessment installment. Absent a default or delinquency in the
payaent of any Assessment, nothing herein shall require the
prepay..nt ot any installment due on an Assessment prior to its due
date, except as otherwise provided by the Act.
SECTIO. 2. RESOLUTXOJI TO BTAT IX Fl1LL FORCB AND EFFECT.
Except as a.ended hereby, the Resolution shall remain in full force
and etfect.
BECTIO. 3. EFJ'ECTIVE DATE. This resolution sha.l'l:' become
ettective immediately upon the adoption hereot. . , '1
(SEAL)' . : . <. COL~;~~ COO1lTY iTEJl~i"1"J"""
,. By:'.. ". II'. -- /': .i/;; /
. ' ~ CCha;rllan\ (? ',' I . ,
:.. ATrEST: /
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APPROVED AS TO LECAL FORK
AXD SUFFICIENCY:
~t~~:\~~O~y Q
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