Resolution 1993-117
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MARCH 23, 1993
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RESOLUTION NO. 93-117
A RESOLUTION APPROVING CERTAIN AMENDMENTS TO
THE LINE OF CREDIT AGREEMENT BETWEEN THE
COUNTY AND SUN BANK, NATIONAL ASSOCIATION;
AUTHORIZING THE EXECUTION AND DELIVERY OF A
THIRD AMENDATORY LINE OF CREDIT AGREEMENT IN
ORDER TO PROVIDE FOR SUCH AMENDMENTS; AND
PROVIDING FOR AN EFFECTIVE DATE FOR THIS
RESOLUTION.
BE IT RESOLVED BY THll BOARD OF COUNTY COllHISSIONERS OF COLLIER
COUNTY, FLORIDA.
SIlCTION 1. AUTHORITY FOR THIS RESOLUTION. This Resolution
is adopted pursuant to the provisions of Chapter 125, Florida
statutes and other applicable provisions of law.
SECTION 2.
and declared:
FINDINGS. It is hereby ascertained, determined
(A) That Collier County, Florida (the "County") and Sun Bank,
National Association (the "Bank") have previously entered into a
Line of Credit Agreement, dated as of February 27, 1990, as amended
(the "Agreement") relating to the issuance of a line of credit by
the Bank to the County to finance or refinance the costs of various
capital projects in the County (the "Projects"); and
(B) That the County and the Bank have previously entered into
a First Amendatory Line of Credit Agreement, dated as of
February 1, 1991, amending in its entirety Exhibit A to the
Agreement; and
(C) That the County and the Bank have previously entered into
a Second Amendatory Line of Credit Agreement, dated as of August 4,
1992, amending the Agreement in certain respects; and
(D) That the County and the Bank wish to a~end provisions of
the Agreement to (1) allow for the pledge of ad valorem tax
revenues for the repayment of certain Notes, (2) allow for the non-
application of the County's covenant to budget ar.d appropriate Non-
Ad Valorem Revenues with respect to the repayment of certain Notes,
and (3) include additional Projects of the County.
SECTION 3. DEFINITIONS. Terms used herein shall have the
meanings ascribed thereto by the Agreement, except to the extent
such terms are defined herein or the context indicates another
meaning.
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MARCH 23, 1993
81!:CTIOlf 4. APPROVAL OF AMENDMENTS TO AGREEMENT. The
County hereby approves the amendments to the Agreement as set forth
in the Third Amendatory Line of Credit Agreement between the County
and the Bank (the "Third Amendatory Agreement"), attached hereto
as Exhibit A.
811CTIOlf 5. AUTHORIZATION OF THIRD AMENDATORY LINll OF
CRllDIT AGREEKENT. The County hereby authorizes the Chairman (or
Vice-Chairman in his absence or unavailability) and the Clerk (or
the Deputy Clerk in his absence or unavailability) to execute and
deliver on behalf of the County the Third Amendatory Agreement
Substantially in the form attached hereto as Exhibit A, with such
changes, insertions and additions as they may approve, their
execution thereof being evidence of such approval.
SECTION 6. AGREEMENT TO CONTINUE IN FORCE. Except as
expressly provided in the Third Amendatory Agreement, the Agreement
and all the terms and provisions thereof are and shall remain in
full force and effect.
SECTIOlf 7. GElfERAL AUTHORIZATION. The Chairman, Vice-
Chairman and Clerk of the Board and other employees and agents of
the County are authorized to execute and deliver such documents and
contracts, and are hereby authorized and directed to do all acts
and things required hereby as may be necessary for the full
punctual and complete performance of all the terms, covenants,
provisions and agreements herein contained, or as otherwise may be
necessary or desirable to eftectuate the purpose and intent of this
Resolution.
SECTIOlf 8. REPEAL OF INCONSISTENT DOCtlHENTS. All
ordinances, resolutions and parts thereot in conflict herewith are
hereby superceded and repealed to the extent ot such contlict.
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MARCH 23, 1993
SECTION 9. EFFECTIVE DATE. This Resolution shall take
effect immediately upon its adoption.
ADOPTED this ~ day of March, 1993.
COMMISSIONERS OF
FLORIDA
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By:
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Approved as to torm and leqal
sUfficiency,
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County Attorne
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