Ordinance 77-17 AN ORDINANCE RELATING ~ T~E ACO~SZTZO~, CO~-
~ STRUCT~ON, F~RN~S~[~G ~{P E~U~PP~NG OF COUNT~
~/'~ CAPZTAL PR~ECTS OF COLLZER CO~TY,
~~t~I~,~AUTHORZZZN~ THE ISSUANCE OF ~~ PONDS OR
A~R~ ~t~t% ~ERTIFICATES BY THE BOARD OF COU~Y CO[t~ISSIO:]ERS
~LU~t ~ ~-- ~ COLUIE~ CO~Y, F~RZDA, TO FINANCE TI~ COST
· n~ t ~ 1R7~ ~r SUCH PROJECTS, PAYARLE F~I THE PO~IO:~ OF
~rn~ ..... ~E STATE OF F~RIDA'S ~E:~E SHARING TRUST
~NDS DISTRIbUTAbLE TO THE COU~ PURSUAt~ TO
~HAPT:R 218, PAR~ II, FLORIDA STATU~S~ PRO-
VIDING AN EFFECTIVE DATE.
~E~AS, pursuant to Article VIII, Section I of the
Constitution of the State of Florida and Section 125.01 et seq.,
Florida Statutes, the ~ard of County Co~fssfoners of Collier
County, Florida, has all ~wers o~ local self-government to perfo~
county functions and to render county services 'in a manner not
inconsistent with general or spec fa1 .law an~ such power ~y ~
exercised by the enac~ent of county ordinances; an~
~E~S, ft fa necessary for the public health, safety
and general t~lfare of the County and ~ts citizens that provision
be ~de for the acquisition and construction of capital projects
which se~e a county' purpose and for financing the cost o~ such
proj~ts by the pledging of Revenue Sharing Trust Funds as herein
defined; aha
~AS, no:ice o~ intent to consider this ordinance
has been published and made available to the public fo~nsl~ctl~dn%
by la~; now, therefore,
BE IT ORDAINED BY T"E BOA~ OF COUNTY CO~'ISS'~Ie_~' _"~:~.S_ e '~%
COLLIER COUNT, FLORIDA:
SECTIOI~ 1. The Board of County Commissioners of~lier
County, Flori]a (hereinafter referred to as the '~ard"} is hereby
authorized to acquire, construct, furnish
projects (hereinafter called "projects').
SECTION 2. To pay the cost of such projecte, as a~ve
described, the ~oard
certificates from time to time (hereinafter re~errcd to as 'obliga-
tions"). Such obligations may be ~n cou~n ~o~, In such denomination
or denoninations, bear interest at such rate or rat~s and shall
mature at such time or times not e~ceedfna thirty {30~ years from
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their date or dntes ns may be determined by the .Bonrd. The obliga-
tions may be made redeemable before maturity, atTtN~iop~/on.~f the
Doard, at such price or prices and under such terns and conditions
as may be fixed by the Board prior to their issuance. The Board
shall determine the place or places of payment of the principal
and interest which may be at any bank or trust company within or
without the state. The certificates shall be signed either by
manual or facsimile signatures of tho chairman and clerk of the
Board, provided that such cert~ficates shall bear at least one (1)
signature which is manually executed thereon, and the coupons
attached to such certificates shall bear the facsimile signature
or signatures of such officer or officers as shall be designated
by the Board. The certificates shall have the seal of the BO&~d
affixed, impri~ted, reproduced or lithographed there~n, all aS m~.
be prescribed in the resolution or resolutions authorizing the.-..~
issuance thereof. The obligations may be sold at publiU:or p~at~
sale at ~uch price or prices as the ~oard shall determine to-:be .2,/
in its best interest, provided that such price shall be not less
than ninsty~ve per cent=m (95%) of the pa~ value of the obliga-
tions sold.
SECTZON 3. The principal of and interest on the obliga-
tions issued hereunder shall be payable from the port,on of the
State of Florida's revenue sharing trust funds distr~butable to
the County under the provisions of Chapter 21S, Part II, Florida
Statutes and defined as the "Guaranteed Entitlement" portion thereof
(herein called "aevenue Sharing Trust Funds").
SECTION 4. The obligations shall be and they are hereby
constituted negotiable instruments under the law merchant and the
laws of the State of Florida.
SECTION 5. No referendum or election in Collier County
shall be required for the exercise of any of the provisions of this
ordinance, unless such referendum or election is required by the
Constitution of Florida.
SEC?ION 6. The cost of the projects may be deemed to
also include (but not be limited to), the cost of acquisition of
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sites; legal, engLneering, fiscal, architectural fees and fees
off any other experts or consultants employed by the Board;
engineering or architectural studies, surveys, plans and ~esigns
for the prelects; provisions for debb service re=erves; the expense
of the issuance, authorization and sa~e of the obligations, including
advertisements, notices and other proceedings in connection there-
with; and such other expenses as are necessary, incidental or
appurtenant to the purposes authorized hereunder.
SECTION 7. The County does hereby covenant with the
holders of obligations issued pursuant to this ordinance that it
will not enact any ordinance which will repeal, impair or amend in
any manner the rights of such holders of the obligations or the
security of the funds which may be pledged to the payment of
principal of and interest on obligations issued pursuant to this
ordinance.
;
SECTION 8. The County may, by resoi~tion, ~ssue obliga-
tions to refund any obligations issued pursuant to this ordinance
and provide for the rights of the holders h, reof. Such refunding
obligations may be issued in an amount sufficient to pay (a} the
principal of the outstanding obligabions; (b) the interest due and
payable on the outstanding obligations to and including the first
date upon which the outstanding obligations shall be callable prior
to maturity on the dates upon which the principal thereof shall
mature before the same are callable prior to maturity; (c) the
redemption premium, if any; and (d) any expenses of the issuance
and sale of such refunding obligations.
SECTION 9. This ordinance shall not be deemed to repeal
or supersede any other law or laws, but shall be considered as
supplemental and additional authority for the Board to carry out
and perform the powers authorized herein.
SECTION 10. A certified copy of this ordinance, as
enacted, shall be filed by the clerk with the office of the Secretary
of State of the S~ate of Florida within ten {10) days after enactment,
and this ordinance shall take effect upon receipt of official
acknowledgement from the Secretary o~ ~tate that thia ordinance
has been filed with said office.
SECTION 11. All power and authority granted to the
County by the provisions of this ordinance shall be exercised by
the Board or its successors as the governing body o~ the County.
SECTION 12. Tho provisions of this ordinance are intended
to be severable. If any one or more sections, paragraphs, sentences,
clauses or provisions shall be held to bo ~11egal or invalid, the
remaining sections, sentences, clauses and provisions o{ this
ordinance shall nevertheless stand and be construed as if the
illegal or invalid sections, sentences, clauses or provisions had
not been included herein.
SECTION 13. ' All ordinances or parts thereof in conflict
with the provfsions of this ordinance are, to the extent of such
conflict, hereby repealed.
SECTION 14. This Ordinance shall take effect upon
receipt of notice from the Secretary of State that this Ordinance
has been filed.
PASSED AND DULY ADOPTED by the Board of County Commis-
sioners of Collier County, Florida, this 5t__~_h day of A~r$l .,
1977.
BOARD OF COUNTY COMMISSIONERS
COLLIER COU~Y, FLORIDA
Approved as to form and legal sufficiency~
Donald A. Pickworth
Collier Co~lnty ~ttorney
This ordinance filed with the Secretary of State's office the llth
day of April, 1977 and acknowledgment of that filing received this
13th day of April, 1977.
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