Resolution 2002-247
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RESOLUTION 200~2 4 7
A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF
COLLIER COUNTY, FLORIDA, APPROVING THE RE-ISSUANCE OF NOT
EXCEEDING $24,000,000 HOUSING FINANCE AUTHORITY OF COLLIER
COUNTY TAX-EXEMPT MULTI-FAMILY HOUSING REVENUE BONDS,
(RIVER REACH PROJECT) PURSUANT TO CHAPTER 159, PART IV,
FLORIDA STATUTES, AS AMENDED.
BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF COLLIER
COUNTY, FLORIDA:
Section 1. Recitals. It is hereby found, ascertained, determined and declared that:
A. The Housing Finance Authority of Collier County (the "Issuer") is a public
corporation of the State of Florida, was duly created by Ordinance No. 80-66 of the Board of
County Commissioners of Collier County, Florida, and is a body corporate and politic duly
created and existing as a local governmental body and a public instrumentality for the purpose of
assisting qualifying housing projects situated in Collier County, Florida (the "County"), under and
by virtue of Chapter 159, Part IV, Florida Statutes, (the "Act"), to provide for the issuance of and
to issue and sell its obligations for lawful purposes under the Act.
B. A public hearing was held by the Issuer on May 22, 2002 (the "Public Hearing") on
the application of Naples-Oxford Limited Partnership (the "Company") for the re-issuance of not
exceeding $24,000,000 tax -exempt multifamily housing revenue bonds (the" Bonds"). The public
hearing was duly conducted by the Issuer upon reasonable public notice, a copy of said notice
being attached hereto as Exhibit A, and at such hearing interested individuals were afforded the
opportunity to express their views, both orally and in writing, on all matters pertaining to the
project and to the re-issuance of the Bonds.
C. The Issuer has adopted its Resolution 2002-01, a copy of which is attached hereto
as Exhibit B, approving the re-issuance of the Bonds and recommending and requesting that the
Board of County Commissioners approve the re-issuance of the Bonds so that the interest on the
Bonds will be exempt from federal income taxation under applicable provisions of Section 147(a)
of the Internal Revenue Code of 1986, as amended.
D. 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, agent, or employee thereof shall be liable personally on the Bonds by reason of their
re-Issuance.
Section 2. Approval of Re-issuance of the Bonds. The re-issuance of the Bonds is
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hereby approved, however this approval shall in no way be deemed to abrogate any regulations
of the County and the project contemplated by this resolution shall be subject to all such
regulations, including, but not limited to, the County's Growth Management Plan, all concurrency
requirements contained therein, and the Collier County Land Development Code.
Section 3. Repealing Clause. All resolutions or orders and parts thereof in conflict
herewith, to the extent of such conflict, are hereby superseded and repealed.
Section 4. Effective Date. This Resolution shall take effect immediately upon its
adoption.
PASSED AND ADOPTED THIS 28th day of May, 2002.
(SEAL)
ATTEST:
Dwight E. Brock, Clerk
COLLIER COUNTY, FLORIDA
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BY:~~
J s N. Coletta, Chairman
Board of County Commissioners
Of Collier County
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Approved as to form and legal sufficiency:
L.MJ~ elk~'6L
David C . Weigel
County Attorney
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