Resolution 2003-248
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RESOLUTION NO. 03-248
A RESOLUTION OF THE BOARD OF COUNTY
COMMISSIONERS OF COLLIER COUNTY, FLORIDA
REGARDING REIMBURSEMENT OF CERTAIN COSTS
RELATING TO THE ACQUISITION, CONSTRUCTION
AND RENO V A TION OF THE COUNTY JAIL COMPLEX;
AND THE CONSTRUCTION OF THE DEVELOPMENT
SERVICES BUILDING EXPANSION AND ASSOCIATED
PARKING GARAGE, AND PROVIDING AN EFFECTIVE
DATE.
WHEREAS, Conier County, Florida (the "County") has incurred and/or will incur
various costs in relation to the acquisition, construction and renovation of capital
improvements to the County jail complex, and the construction of the Development Services
Building expansion and related parking garage; and
WHEREAS, the County (laS determined it is in its best interest to reimburse such
costs from proceeds of tax-exempt debt; and
WHEREAS, the United States Department of Treasury has issued various regulations
in regard to reimbursement of governmental costs through the issuance of tax-exempt debt;
BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF
COLLIER COUNTY, FLORIDA:
SECTION 1. It is the intent of the County to reimburse various costs and
expenditures relating to the acquisition, construction and renovation of capital improvements
to the County jail complex. The County has paid for, and/or reasonably anticipates that it
will pay for, such costs and expenditures from moneys on deposit in the correctional facilities
impact fee fund of the County. It is reasonably expected that reimbursement of such costs
and expenditures shall come from the issuance of tax-exempt debt, which is not expected to
exceed $40,000,000 aggregate principal amount for the jail complex expansion. It is
currently the intention of the County to principally secure such tax-exempt debt by a pledge
of and lien upon the local government half-cent sales tax received by the County. The
expenditures to be reimbursed shall be consistent with the County's budgetary and financial
policy as being the type of expenditures, which shall be paid on a long-term basis.
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It is the intent of the County to reimburse various costs and expenditures relating to
the acquisition and construction of the Development Services Building expansion and
associated parking garage. The County has paid for, and/or reasonably anticipates that it will
pay for, such costs and expenditures from moneys on deposit from building permit revenues
in the Community Development Fund of the County. It is reasonably expected that
reimbursement of such costs and expenditures shall come from the issuance of tax-exempt
debt, which is not expected to exceed $8,000,000 aggregate principal amount.
It is currently the intention of the County to principally secure such tax-exempt debt
by a pledge of and lien upon the local government half-cent sales tax received by the County.
The expenditures to be reimbursed shall be consistent with the County's budgetary and
financial policy as being the type of expenditures, which shall be paid on a long-term basis.
SECTION 2. The County shall comply with all applicable law in regard to the
public availability ofrecords of official acts by public entities such as the County, including
making this Resolution available for public inspection.
SECTION 3. It is the intent of the County that the purpose of this Resolution is
to meet the requirements of Treasury Regulations Section 1.150-2 and to be a declaration of
official intent under such Section.
SECTION 4. This Resolution shall take effect immediately upon its adoption.
DUL Y ADOPTED, in Regular Session, this 29th day of July 2003.
(SEAL)
BOARD OF COUNTY COMMISSIONERS
OF COLL CO TY, FLORIDA
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Approved as to Form and Legal Sufficiency:
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County Attorney ~