Resolution 1997-468RESOLUTION 97-468
A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF
COLLIER CO~TY, FLORIDA, APPROVING THE ISSUANCE OF NOT
EXCEEDING 12,750,000 HOUSING FINANCE AUTHORITY OF COLLIER
COUNTY MULTI-FAMILY HOUSING REVENUE BONDS, SERIES 1997
(WHISTLER'S COVE APARTMENTS) PURSUANT TO CHAPTER 159,
PART IV, FLORIDA STATUTES, AS AMENDED.
BE IT RESOLVED BY THE BOARD OF COUNTY COMiMISSIONERS OF COLLIER
COUNTY, FLORIDA:
Section 1. Recitals.
determined and declared that:
It is hereby found, ascertained,
A. The Housing Finance Authority of Collier County (the
"Issuer") is a public corporation of the State of Florida, was duly
created by Ordinance No. 80-66 of the Board of County Commissioners
of Collier County, Florida, and is a body corporate and politic
duly created and existing as a local governmental body and a public
instrumentality for the purpose of assisting qualifying housing
projects situated in Collier County, Florida (the "County"), under
and by virtue of Chapter 159, Part IV, Florida Statutes, (the
"Act"), to provide for the issuance of and to issue and sell its
obligations for lawful purposes under the Act.
B. The Issuer has submitted to the Board of County
Commissioners a copy of its Resolution (the "Resolution"), attached
hereto as Exhibit A, with respect to the issuance by it of not to
exceed $12,750,000 Housing Finance Authority of Collier County
Multi-Family Revenue Bonds, Series 1997 (Whistler's Cove
Apartments) (the "Bonds").
C. A Public hearing was held on the Resolution on December
8,1997 which public hearing was duly conducted by the Issuer upon
reasonable public notice, a copy of said notice being attached as
Exhibit A, to the resolutions and at such hearing interested
individuals were afforded the opportunity to express their views,
both orally and in writing, on all matters pertaining to the
location and nature of the proposed project and to the issuance of
the Bonds. No person spoke or wrote in opposition to ~he project
on the 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 interest on the Bonds will be exempt from federal income
9 B
taxation under applicable provisions of Section 147(a) of the
Internal Revenue Code of 1986, as amended.
E. The Resolution shows that the Issuer has acted in
accordance with all applicable requirements of law, and that the
issuance of the Bonds will serve significant public purposes as
provided in the Act.
F. The purpose of the Act will be effectively served, and it
is necessary and desirable and in the best interest of the County
that the issuance of the Bonds be approved by the Board of County
Commissioners.
G. The Bonds shall not constitute a debt, or a pledge of
faith and credit of the Issuer, the County, the State of Florida or
any political subdivision thereof, and neither the Issuer, the
County, the State of Florida nor any political subdivision thereof
shall be liable thereon; nor in any event shall the Bonds be
payable out of any funds or properties other than those of the
Issuer, and then only re) the extent provided in the Indenture. No
member of the Board of County Commissioners or any officer thereof
shall be liable personally on the Bonds by reason of its issuance.
Section 2. Approval of Issuance of the Bonds. The issuance
of the Bonds as contemplated by the Resolution is hereby approved,
however this approval shall in no way be deemed to abrogate any
regulations o~ the County and the project contemplated by this
resolution shall be subject to all such regulations, including, but
not limited to, the County's Growth Management Plan and all
concurrency requirements contained therein and the Collier County
Land Development Code.
Section 3. Repealing Clause. Ail resolutions or orders and
parts the£eof in conflict herewith, to the extent of such conflict,
are hereby superseded and repealed.
Section 4. Effective Date. This Resolution shall take effect
immediately upon its adoption.
PASSED AND ADOPTED THIS ,/~' day of ~ ,
1997.
(SEAL)
ATTEST.; ' ~ '.'t
D~ight E. BrOck, Clerk
-Deputy Clerk
COLLIER COUNTY, FLORIDA
Timoth/L. HanSock, Chairman
Board'of County Commissioners
of Collier County, Florida
Approved as to form and legal sufficiency:
County Attorney