Resolution 2005-170
RESOLUTION NO. 05- 170
A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS
OF COLLIER COUNTY, FLORIDA APPROVING THE ISSUANCE
AND SALE OF REVENUE BONDS BY THE COLLIER COUNTY
INDUSTRIAL DEVELOPMENT AUTHORITY, AS REQUIRED BY
SECTION 147(1) OF THE INTERNAL REVENUE CODE, AS
AMENDED; PROVIDING FOR OTHER RELATED MATTERS.
Whereas, the Collier County Industrial Development Authority (the "Authority") is a body corporate and
politic of Collier County, Florida created by Collier County Resolution No. 79-34 duIy adopted by the Board of
County Commissioners on February 27, ] 979 pursuant to Part III of Chapter 159, Florida Statutes, as amended, with
the power to issue revenue bonds for the purposes of financing a "project" as defined in Part " of Chapter 159.
Florida Statutes, as amended; and
Whereas, Ave Maria Utility Company, a Florida limited liability limited partnership (the "Company") has
applied to the Collier County Industrial Development Authority (the "Authority") to issue its Industrial
Development Revenue Bonds (Ave Maria Utility Company Project), Series 2005 in an aggregate principal amount
not to exceed $]8,000,000 (the "Bonds"), for the purpose of making a loan to the Company for the purpose of
providing funds, together with other available funds, to finance a portion of the cost of constructing and equipping
water and wastewater utility facilities, which will be used to provide water and wastewater utility services for Ave
Maria University and the town of Ave Maria (the "Project''); and
Whereas, Section 147(1) of the Internal Revenue Code of] 986, as amended (the "Code''), provides that the
elected legislative body of the governmental unit which has jurisdiction over the area in which the facility financed
with the proceeds of tax exempt bonds is located is to approve the issuance of such bonds after a public hearing; and
Whereas, the Board of County Commissioners of Collier County, Florida (the "Board'') is the elected
legislative body of the County; and
Whereas, the Authority held a meeting and public hearing on April 13,2005 pursuant to a notice published
on or before March 29, 2005 in the Naples Daily News, a newspaper of general cin:ulation in the County, a copy of
said notice being attached to Resolution 2005-1 adopted by the Authority at said meeting; and
Whereas, at the conclusion of the meeting and public hearing the Authority adopted Resolution No. 2005-]
(the "Authority Resolution"), a copy of said resolution being attached hereto as Exhibit "A", approving the project,
authorizing the issuance of the Bonds, and directing the Chairman and officers of the Authority to seek approval for
the issuance of the Bonds in accordance with Section 147(1) ofthe Code; and
Whereas, for the reasons set forth above. it appears to the Board that the approval of the issuance and sale
ofsuch Bonds as required by Section 147(1) of the Code is in the best interests of Collier County,
NOW, THEREFORE, Be It Resolved by the Board of County Commissioners of Collier County, Florida,
that:
Section I. Approval of Issuance of the Bonds. This Board hereby approves the issuance of the Bonds by the
Authority for the purposes described in the Authority's Resolution and the notice attached thereto pursuant to
Section ]47(1) of the Code. The Bonds shall be issued in such aggregate principal amount, bear interest at sucb
rates, mature in such amounts and be subject to such optional and mandatory redemptions as are approved by the
Authority without the further approval of this Board.
The Bonds shall not constitute a debt, liability or obligation of Collier County, its Board of County
Commissioners, officers, agents or employees, or the State of Florida or any political subdivision thereof, but shall
be payable solely from the revenues provided therefore, and neither the faith and credit nor any taxing power of
Collier County or the State of Florida or any political subdivision thereof is pledged to the payment of the principal
of. premium. if any. and interest on the Bonds. No member of the Board of County Commissioners of Collier
County or any officer or employee thereof shall be liable personally on the Bonds by reason of their issuance.
This approval shall in no way be deemed to abrogate any regulations of Collier County applicable to the
Project and the Project shall be subject to all such regulations. including. but not limited to. the Collier County
Growth Management Plan, all concurrency requirements contained therein. and the Collier County Land
Development Code.
Section 2. Severability. If any section. paragraph. clause provision of this Resolution shall be held to be
invalid or ineffective for any reason, the remainder of this Resolution shall continue in full force and effect, it being
expressly hereby found and declared that the remainder of this Resolution would have been adopted despite the
invalidity or ineffectiveness of such section, paragraph. clause or provision.
Section 3. Effective Dare. This Resolution shall take effect immediately upon its adoption.
PASSED and Adopted this 26th day of April. 1005.
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COLLIER COUNTY. FLORIDA BY
ITS BOARD OF COUNTY
CO~SSIONERS .
I~;#C' \ r 0_
Fred W. COy e.li;i;man......P'"'-'~
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RESOLUTION NO. 2005-1
AN INDUCEMENT RESOLUTION OF THE COLLIER
COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY
REGARDING THE OFFICIAL ACTION OF THE
AUTHORITY WITH RESPECT TO THE PROPOSED
ISSUANCE BY THE AUTHORITY OF ITS INDUSTRIAL
DEVELOPMENT REVENUE BONDS (AVE MARIA
UTILITY COMPANY PROJECT) SERIES 2005 IN AN
INITIAL AGGREGA TE PRINCIPAL AMOUNT NOT TO
EXCEED $18,000,000 FOR THE PRINCIPAL PURPOSE
OF FINANCING CERTAIN COSTS INCURRED OR TO
BE INCURRED BY AVE MARIA UTILITY COMPANY,
LLLP (THE "COMPANY") IN CONNECTION WITH THE
ACQUISITION, CONSTRUCTION, AND EQUIPPING OF
CERTAIN WATER AND WASTE WATER SYSTEM
FACILITIES; AUTHORIZING THE EXECUTION AND
DELIVERY OF A PRELIMINARY AGREEMENT
BETWEEN THE AUTHORITY AND THE COMPANY;
AND PROVIDING FOR RELATED MATfERS.
WHEREAS, Ave Maria utility Company, LLLP, a Florida limited liability limited
partnership (the "Company") has applied to the Collier County Industrial Development
Authority (the "Authority") to issue a series of its private activity revenue bonds in the
initial aggregate principal amount of not to exceed $18,000,000 (the "Bonds") for the
principal purpose of financing certain costs of acquisition, construction, and equipping of
certain water and waste water system facilities (the "Project") to be owned and operated
by the Company and paying costs associated with the issuance of the Bonds; and
WHEREAS, the "Project", as described in the application consists of the
following:
Water Svstem: 1.0 million gallon per day (mgd) reverse osmosis water treatment
plant with two filter skids rated at .5 mgd each; a 1.5 million gallon concrete water
tank; yard piping, and components; offices, laboratory and equipment, supply
inventory and storage space; raw water supply well system; pumps and raw water
transmission mains; treated water transmission facilities.
Wastewater Svstem. A .75 mgd water reclamation facility utilizing an activtated
sludge treatment process followed by tertiary filtration and high level disinfection;
force main transmission system; facilities to provide access to users of effluent (the
EXHIBIT "A" TO Bee RESOLUTION
by-product of the treatment process) for re-use in irrigation of golf course,
residences and green spaces; associated equipment, and an operations and
electrical buildings.
and to pay certain expenses incurred in connection with the issuance of the Bonds; and
WHEREAS, the Company has requested that the Authority loan the proceeds of
the Bonds to the Company pursuant to Chapter 159, Parts II and III, Florida Statutes, or
such other provision or provisions of Florida law as the Authority may determine
advisable (the "Act") in order to accomplish the foregoing purposes; and
WHEREAS, the issuance of the Bonds and the loaning of the proceeds thereof to
the Company to finance the costs of the Project under loan agreements or other fmancing
agreements, and pursuant to the terms thereof which will provide that payments
thereunder be at least sufficient to pay the principal of and interest and redemption
premium, if any, on such Bonds and such other costs in connection therewith as may be
incurred by the Authority, will assist the Company and promote the public purposes
provided in the Act; and
WHEREAS, in order to satisfy certain of the requirements of Section 147(f) of
the Internal Revenue Code of 1986, as amended (the "Code"), the Authority did on the
date hereof hold a public hearing on the proposed issuance of the Bonds for the purposes
herein stated, which date is more than 14 days following the first publication of notice of
such public hearing in a newspaper of general circulation in Collier County and which
public hearing was conducted in a manner that provided a reasonable opportunity for
persons with differing views to be heard, both orally and in writing, on the issuance of the
Bonds and the location and nature of the Project, as more particularly described in the
notice of public hearing attached hereto as Exhibit A; and
WHEREAS, it is intended that this Resolution shall constitute official action
toward the issuance of the Bonds within the meaning of the applicable United States
Treasury Regulations in addition to any other action that may have heretofore been taken
by the Company;
NOW, THEREFORE, BE IT RESOLVED BY THE COLLIER COUNTY
INDUSTRIAL DEVELOPMENT AUTHORITY, THAT:
SECTION l.AUTHORITY FOR THIS RESOLUTION. This Resolution is
adopted pursuant to the provisions of the Act and other applicable provisions oflaw.
2
SECTION 2.PRELIMINARY STATEMENT. This Resolution is entered into
to permit the Company to proceed with the financing of the costs of the Project and to
provide an expression of intention by the Authority, prior to the issuance of the Bonds, to
issue and sell the Bonds and make the proceeds thereof available for such purposes, all in
accordance with and subject to the provisions of the Act, the Constitution and other laws
of the State of Florida and the laws of the United States of America, including the Code,
and this Resolution, but subject in all respects to the terms of the Preliminary Agreement
for the Issuance ofIndustrial Development Revenue Bonds of even date herewith
between the Authority and the Company (the :Preliminary Agreement"). The Chairman
is hereby authorized to execute the Preliminary Agreement on behalf of the Authority.
SECTION 3.APPROV AL OF THE FINANCING. The financing of the costs
of the Project by the Authority through the issuance ofthe Bonds, pursuant to the Act,
will promote the economic development, prosperity, health and welfare of the citizens of
Collier County, will promote the general economic structure of Collier County, and will
thereby serve the public purposes of the Act and is hereby preliminarily approved,
subject, however, in all respects to the Company meeting the conditions set forth in the
Preliminary Agreement to the sole satisfaction of the Authority.
SECTION 4.AUTHORIZATION OF THE BONDS. There is hereby
authorized to be issued and the Authority hereby determines to issue the Bonds, if so
requested by the Company and subject in all respects to the conditions set forth in the
Preliminary Agreement, in an aggregate principal amount not to exceed $18,000,000 for
the principal purpose of financing the costs of the Project. The rate of interest payable on
the Bonds shall not exceed the maximum rate permitted by law.
SECTION 5. GENERAL AUTHORIZATION. The Chairman and the Vice-
Chainnan are hereby further authorized to proceed, upon execution of the Preliminary
Agreement, with the undertakings provided for therein on the part of the Authority and
are further authorized to take such steps and actions as may be required or necessary in
order to cause the Authority to issue the Bonds subject in all respects to the terms and
conditions set forth in the Preliminary Agreement authorized hereby.
SECTION 6.0FFICIAL ACTION. This resolution is an official action of the
Authority toward the issuance of the Bonds, as contemplated in the Preliminary
Agreement, in accordance with the purposes of the laws of the State of Florida and the
applicable United States Treasury Regulations.
SECTION 7.LIMITED OBLIGATIONS. The Bonds and the interest thereon
shall not constitute an indebtedness or pledge of the general credit or taxing power of
3
Collier County, the State of Florida or any political subdivision or agency thereof but
shall be payable solely from the revenues pledged therefor pursuant to a loan agreement
or other financing agreement entered into between the Authority and the Company prior
to or contemporaneously with the issuance of the Bonds. The Authority has no taxing
power.
SECTION 8.LIMlTED APPROVAL. The approval given herein shall not be
construed as an approval or endorsement of approval of any necessary rezoning
applications nor for any other regulatory permits relating to the Project and the Authority
shall not be construed by reason of its adoption ofthis resolution to have waived any
right ofColIier County or estopping Collier County from asserting any rights or
responsibilities it may have in that regard.
SECTION 9,EFFECTlVE DATE. This Resolution shall take effect immediately.
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ADOPTED this 13th day of April, 2005.
COLLIER COUNTY INDUSTRIAL
DEVELOPMENT AUTHORITY
4
EXHIBIT A TO RESOLUTION
NOTICE OF PUBLIC HEARING
Notice of Special Meeting and Public Hearing
Notice is hereby given that the Collier County Industrial Development Authority
(the "Authority") will conduct a special meeting and public hearing on April 13,
2005 at 8:30 a.m. in the Economic Development Council of Collier County
Conference Room, 3050 North Horseshoe Drive, Suite 120, Naples, Florida, 34104
for the purpose of receiving public comments and hearing discussion concerning
the proposed issuance ofthe Authority's Industrial Development Revenue Bonds
(Ave Maria Utility Company Project), Series 2005 in an aggregate principal amount
not to exceed $20,000,000 (the "Bonds"), for the purpose of making a loan or loans
to Ave Maria Utility Company, LLLP, a Florida limited liability limited partnership
(the "Company"), for the purpose of providing funds to finance a portion of the cost
of constructing and equipping central water, wastewater, and reuse systems that will
serve the Ave Maria University and Town, as described under the heading
"Description of the Project" set forth below.
Description of the Proiect
Water System: 1.0 million gallon per day (mgd) reverse osmosis water treatment
plant with two filter skids rated at .5 mgd each; a 1.5 million gallon concrete water
tank; yard piping, and components; offices, laboratory and equipment, supply
inventory and storage space; raw water supply well system; pumps and raw water
transmission mains; treated water transmission facilities.
Wastewater Svstem. A .75 mgd water reclamation facility utilizing an activtated
sludge treatment process followed by tertiary filtration and high level disinfection;
force main transmission system; facilities to provide access to users of effluent (the
by-product of the treatment process) for re-use in irrigation of golf course,
residences and green spaces; associated equipment, and an operations and electrical
buildings.
Location of the Proiect
Plant Site: A parcel consisting of33.41 acres more or less located in Sections 5 and
8, Township 48 South, Range 29 East, Collier County, Florida The plant site is
north of Oil Well Road. A detailed legal description and map of the plant site is
contained in the application, which is available for public inspection at the offices
of the Authority at the address set forth herein.
Proiect Service Area: The Company has obtained certificates from the Board of
County Commissioners of Collier County establishing the Company as the
exclusive water and wastewater service provider for Ave Maria University and
Town. The service area includes part of Sections 21,22,27,28,29,30, and 33 and
all of Sections 31 and 32, Township 47 South, Range 25 East;
And, part of Sections 4, 9,16,11, and 18, and all of Sections 5,6,7, and 8,
Township 48 South, Range 29 East;
And part of Sections 1, 12, and 13, Township 48 South, Range 28 East;
And all of Section 36, Township 47 South, Range 28 East
A detailed legal description and map of the project service area is contained in the
application, which is available for public inspection at the offices of the Authority
at the address set forth herein.
Initial Owner and Operator
The initial owner and operator of the Project will be Ave Maria Utility Company,
LLLP, a Florida limited liability limited partnership
The bonds will be payable solely from the revenues derived by the Authority from a
loan agreement or other financing documents between the Authority and the
Company. Neither the bonds nor the interest thereon shall be an indebtedness of,
or a pledge of, the taxing power or any other revenues of Collier County, the State
of Florida, or any political subdivision or agency thereof.
Copies ofthe application for fmancing are available for public inspection and
copying at the office of the Authority set forth below. All interested persons are
invited to submit written comments or attend the hearing, either personally or
through their representative, and will be given an opportunity to express their views
concerning the project or the financing. Anyone desiring to make written
comments in advance of the hearing may send such comments to:
Collier County Industrial Development Authority
c/o Economic Development Council
3050 North Horseshoe Drive, Suite 120
Naples, Florida 34104
SHOULD ANY PERSON DECIDE TO APPEAL ANY DECISION MADE BY
THE AUTHORITY WITH RESPECT TO ANY MA TIER CONSIDERED AT
SUCH HEARING, SUCH PERSON WILL NEED A RECORD OF mE
PROCEEDINGS AND, FOR THAT PURPOSE, SUCH PERSON MAY NEED
TO ENSURE THAT A VERBATIM RECORD OF mE PROCEEDINGS IS
MADE, WHICH RECORD INCLUDES THE TESTIMONY AND EVIDENCE
UPON WHICH TIm APPEAL IS TO BE BASED.
In accordance with the Americans with Disabilities Act, persons needing a special
accommodation to participate in this hearing should contact Donald A. Pickworth,
General Counsel, at (941) 263-8060 no later than seven (7) days prior to the
hearing.
This notice is given pursuant to Section 147(f) ofthe Internal Revenue Code, as
amended.
Collier County Industrial Development Authority
/s/Donald A. Pickworth
Assistant Secretary and
General Counsel
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NAPLES DAILY NEWS
Published Daily
Naples,FL34102
Affidavit of Publication
State of Florida
County of Collier
Before the undersigned they serve as the authority, personally
appeared B Lamb who on oath says that they
serve as the Assistant Corpomte Secrelllry of the Naples Daily,
a daily newspaper published at Naples, In Collier County,
Florida; distributed in Collier and Lee counties of Flotlda; that
the attached copy of the advertising. being a
PUBLIC NOTICE
in the matter of Public Notice
as published in said newspaper
time(s) in the issue on March 29th, 2005
AffWll further saYl thlIt the ,aid Naplel Daily News i. .. newspaper
published at Napl"_ in .aid CoUier COWIty. Florida. and thI1 the wd
nawaplper haa heretofore been continuoudy published in AieLCotlier
Ccunt.y, Florida; diattibotcd in Collit!' and Lee 0ClWlli1ll5 of Florida,
each day and haa bem cntl!:fed u.econd dUll mail mlhr at the post
office in Nlplcs, in laid Collier County, Florida. for I. period of 1
year next preceding the tint publication oftba Irtachod copy of
acIvertiscmMlt; and affiant fUrther "Y' tha1 he bu wiler paid nor
promiacd any person, firm or corporation any discount, rcb.te.
commiuion cc ~fund f<<the pulpOllC of securing tni. advertisement for
pUbliadion in the ,aid ncwlJMP8r.
/], --f
( Signatw"c of affiant)
Sworn to and subscribed before me
This 14th, April 2005
'''''''''. Harriett Bushong
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