Resolution 2004-216
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RESOLUTION NO. 04-.2.l.6
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(0 OF
THE INTERNAL REVENUE CODE~ AS AMENDEDj AND PROVIDING
FOR OTHER RELATED MATTERS.
WHEREAS, the Collier County Industrial Development Authority (the "Authority") is a
body corporate and politic of Collier County, Florida ("Collier County") created by CoUier County
Resolution No. 79-34 duly adopted by the Board of County Commissioners on February 27, 1979
pursuant to Part III ofChaptcr 159, Florida Statutes, as amended, with the power to issue revenue
bonds for the purposes of financing a "project" as defined in Part II of Chapter 159, Florida Statutes,
as amended; and
WHEREAS, NCH Healthcare System, Inc. (the "Corporation") a Florida not-for-profit
corporation. has requested the Authority to issue its Health Care Facilities Revenue Bonds (NCH
liealthcare System, Inc. Obligated Group), Series 2004 (the "Bonds") for the purpose of making a
loan to the Corporation to finance or reimburse the Corporation for the costs of the Project as
described in the Authority Resolution described below and to pay certain expenses incurred in
connection with the issuance of the Bonds; 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 caused a notice of a public hearing to consider approval of the
Bonds and the location and nature of the Project to be published on or before May 26,2004 in the
Naples Daily News, a newspaper of general circulation in Collier County, and a copy of said notice
is attache.d to the Authority Resolution described herein (the "Notice"); and
WHEREAS, the Authority held a public hearing on June 9, 2004, pursuant to the Notice
and adopted a resolution (the "Authority Resolution") authorizing the issuance of the Bonds, a copy
of which is attached hereto as Exhibit A, and has recommended to the Board that it approve the
)ssuance of the Bonds in accordance with Section 1 47{t) of the Code; and
WHEREAS, for the reasons set forth above, it appears to the Board that the approval of the
issuance and sale of such Bonds as required by Section 147(t) 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:
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Section 1. Approval of Issuance of the Bonds. This Board hereby approves the issuance
of the Bonds by the Authority tor the purposes described in the Notice pursuant to Section 147(t) of
the Code. The Bonds shaH be issued in such aggregate principal amount, bear interest at such rate
or rates, mature in such amount or amounts and be subject to redemption 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, the Board,
any officer, agent or employee ofCoIlier County, the State of Florida or any political subdivision
thereof, but shall be payable solely from the revenues provided therefor, and neither the faith and
credit nor any taxing power of Co1líer County or the State of Florida or any politicaI subdivision
thereof is pledged to the payment of the principal of, premium, if any,and interest on the Bonds.
No member of the Board or any officer or employee thereof shall be liable persot'laUy on the Bonds
by reason of their issuance.
This approval shall in no way be deemed to abrogate any regulations of Collier County for
any portions of the Project located ...vithin the regulatory jurisdiction of Collier County. The Project
shall be subject to aU such regulations, including, but not limited to, the Collier COunt)1 Growth
Management Plan and all concurrency requirements contained therein and the Collier County Land
Development Code.
Section 2. Severability, If any section, paragraph. clause or 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 dedared that the remainder of
this Resolution would have been adopted despite the invalidity or ineffectiveness of such section,
paragraph~ clause or provision.
Section 3. E.Dèctíve Date. This Resolution shall take effect immediately upon its
adoption, and any provisions of any previous resolutions in conflict with the provisions hereof are
hereby superseded.
PASSED and Adopted this 22nd day of June, 2004.
COLLIER COUNTY, FLORIDA BY
ITS BOARD OF COUNTY
COMMISSIONERS
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RESOLUTION NO. 2004-03
AN INDUCEMENT RESOLUTION OF THE COLLIER
COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY
REGARDING THE OFFICIAL ACTION OF THE
AUTHORITY WITH RESPECT TO TIlE PROPOSED
ISSUANCE BY THE AUTHORITY OF ITS HEALTII CARE
FACILITIES REVENUE BONDS (NCH HEALTHCARE
SYSTEM, INC. OBLIOA TED GROUP) SERIES 2004 IN AN
INITIAL AGGREGATE PRINCIPAL AMOUNT NOT TO
EXCEED $50,000,000 FOR THE PRINCIPAL PURPOSE OF
FINANCING CERTAIN COSTS INCURRED OR TO BE
INCURRED BY NCH HEAL THCARE SYSTEM, INC. (THE
uCORPORA TIONU) IN CONNECTION WITH THE
ACQUISITION, CONSTRUCTION, RENOVATION AND
EQUIPPING OF CERTAIN HEALTH CARE FACILITIES;
AUTHORIZING TIlE EXECUTION AND DELIVERY OF A
PRELIMINARY AGREEMENT BETWEEN THE
AUTHORITY AND THE CORPORATION; AND
PROVIDING FOR RELATED MA TIERS.
WHEREAS, NCH Healthcare System, Inc., a Florida not-for-profit corporation (the
¡¡Corporation") has applied to the Collier County Industrial Development Authority (the
11 Authoritytt) to issue a series of its private activity revenue bonds in the initial aggregate
principal amount of not to exceed $50.000,000 (the "Bonds") for the principal purpose of
financing certain costs of construction, renovation and equipping of certain health care
facUities (the "Project") to be owned and operated by the Corporation and paying costs
associated with the issuance of the Bonds; and
WHEREAS, the "Project", as described in the application consists of
constructing, renovating and equipping health care facilities, including, without
limitation, a six-stO'ry patient tower, a 500 car parking facility, and the renovation and
rdO'cation of certain existing services at the North Collier Hospital Campus and to pay
certain expenses incurred in connection with the issuance of the Bonds; and
WHEREAS, the Corporation has requested that the Authority loan the proceeds
of the Bonds to the Corporation pursuant to Chapter 159, Parts II and III, Florida
Statutes~ O'r such other provision or provisions of Florida law as the Authority may
determine advisable (the" Act") in order to' accompHsh the fO'regoing purposes; and
EXHIBIT A TO COUNTY
RESOLUTION
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WHEREAS, the issuance of the Bonds and the loaning of the proceeds thereof to
the Corporation to finance the costs of the Project under loan agreements or other
financing agreements, and pursuant to th.e 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 Corporation and promote the public purposes
provided in the Act; and
WHEREAS, in order to satisfy certain of the requirements of Section 147(1) of the
Internal Revenue Code of 1986, as amended (the "Code"), the Authorìty 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 foUowingthe first publication of notice of
such public hearing in a newspaper of general circulation in Comer 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 Corporation;
NOW, THEREFORE, BE IT RESOLVED BY THE COLLIER COUNTY
INDUSTRIAL DEVELOPMENT AUTHORITY, THAT:
SECTION I. AUTHORITY FOR THIS RESOLUTION. This
Resolution is adopted pursuant to the provisions of the Act and other applicable
provisions of law.
SECTION 2. PRELIMINARY STATEMENT. This Resolution is
entered into to permit the Corporation 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 an respects to the terms of the
Preliminary Agreement.
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SECTION 3. APPROVAL OF THE FINANCING. The financing of the
costs of the Project by the Authority through the issuance of the 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 wilJ thereby serve the public purposes of the Act and is hereby preliminarily
approved, subject, however, in aU respects to the Corporation meeting the conditions set
forth in the Preliminary Agreement to the sole satisfaction of the Authority,
SECTION 4. AUTHORIZA TION OF THE BONDS. There is hereby
authorized to be issued and the Authority hereby detennines to issue the Bonds, if so
requested by the Corporation and subject in aU respects to the conditions set forth in the
Preliminary Agreement, in an aggregate principal amount not to exceed $50,000,000 for
the principal purpose of financing the costs of the Project as described in the Preliminary
Agreement. The rate of interest payable on the Bonds shaH not exceed the maximum rate
pennitted by law,
SECTION 5. GENERAL AUTHORIZATION. The Chairman and the
Vice-Chairman 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 aU respects to the
tenns and conditions set forth in the Preliminary Agreement authorized hereby.
SECTION 6. OFFICIAL 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 Flarida 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 C.ollier County ~ the State of Florida or any poHtical subdivision .or agency
thereof but shall be payable solely fram the revenues pledged therefor pursuant to a loan
agreement .or other financing agreement entered into between the Authority and the
Corporation prior ta or contemporaneously with the issuance of the Bands. The Authority
has no taxing P.ower,
SECTION 8. LIMITED APPROVAL. The approval given herein shall
not be construed as an appraval or endorsement of approval of any necessary rezoning
applications nor f.or any ather regulat.ory permits relating to the Project and the Authority
shall nat be construed by reason of its adoptian of this resoluti.on t.o have waived any right
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of Collier County or estopping Collier County from asserting any rights or responsibiHties
it may have in that regard.
SECTION 9.
immediately.
EFFECTIVE DATE. This Resolution shall take effect
ADOPTED this 9th day of June, 2004,
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COLLIER COUNTY INDUSTRIAL
DEVELOPMENT AUTHORITY
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