Resolution 2001-044
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RESOLUTION NO. 2001--4-4-
A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF
COLLIER COUNTY, FLORIDA, APPROVING THE ISSUANCE OF NOT
EXCEEDING $6,700,000 HOUSING FINANCE AUTHORITY OF COLLIER
COUNTY TAX-EXEMPT MULTI-FAMILY HOUSING REVENUE BONDS,
SERIES 2001 (BRITfANY BAY APARTMENTS) 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 November 27, 2000 (the "Public
Hearing") on the application of Brittany Bay Partners (the "Company") for the issuance of not
exceeding $6,700,000 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
location and nature of the purposed project and to the issuance of the Bonds.
C. After considering the application of the Company and the comments, if any, of
members of the public regarding the project or issuance of the Bonds, the Issuer has adopted its
Resolution 2001-01, a copy of which is attached hereto as Exhibit B, approving the issuance of
the Bonds and recommending and requesting that the Board of County Commissioners approve
the 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 Bond by reason of
their issuance.
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Section 2. Approval of Issuance of the Bonds. The issuance of the Bonds is 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 13th day of February, 2001.
(SEAL)
ATTEST:. .. . ., '.
DWI~fIUiBf.B~OCK, CLERK
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BOARD OF COUNTY COMMISSIONERS
COLLIER COUNTY, FLORIDA
Naples Daily News
Naples, FL 34102
Affidavit of Publication Naples Daily News
PICKWORTH, DONALD P.A.
5150 TAMIAMI TRL N #602
NAPLES FL 34103
REFERENCE: 010784
58189137 Notice of Special Me
State of Florida
County of Collier
Before the undersigned authority, personally
appeared B. Lamb, who on oath says that she serves
as the Assistant Corporate Secretary of the Naples
Daily News, a daily newspaper published at Naples
in Collier County, Florida: that the attached
copy of advertising was published in said
newspaper on dates listed.
Affiant further says that the said Naples Daily
News is a newspaper published at Naples, in said
Collier County, Florida, and that the said
newspaper has heretofore been continuously
published in said Collier County, Florida, each
day and has been entered as second class mail
matter at the post office in Naples, in said
Collier County, Florida, for a period of I year
next preceding the first publication of the
attached copy of advertisement; and affiant
further says that she has neither paid nor
promised any person, firm or corporation any
discount, rebate, commission or refund for the
purpose of securing this advertisement for
publiction in the said newspaper.
PUBLISHED ON: 01/15
AD SPACE: 116.000 INCH
FILED ON: 01/15/01
;g::::-:;-:;;:::: ....... ...... , ...........................
Sworn to and Subscribed before me t day of /k_~ 20_~/
Personally known by me
EXHIBIT A TO BCC
RESOLUTION
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Notice of
Special Meeting
and Public Hearlng
Notice Is hereby given
that the Houslng Finance
Authority of Collier Coun-
ty (.the "Authority") will
conauct a spec at meet-
lng and public hearlng on
February i, 2001 at 3:30
p.m. In the City Manag-
er's Conference Room,
second floor, Naples City
Hall, 735 Eighth Street
South, Naples, Fiorlda,
34102 .for the purpose of
receiving ..publlc com-
ments and hearing dis-
cussion concerning the
proposed Issuance of the
Authorlty's Multlfamil.Y
Housing Revenue Bonas
fo be dj~_ed to finance the
acqulslflon and ¢onstruc-
tlon at the following prol-
Name of Project:.
Brittany Bay Apart-
merds"
Initial Owner:
Brittany Bay Partners,
Ltd.
Tox-exempi- Financing
Requested
S6,700,000
Number of units:
184
SizeatSlte: '.~' ~
9 Acres
Location:
West side of Collier
Blvd. (CR 951), approxi-
mately 3/4 mile South of
Immokalee Rd.
All Interested persons ore
Invited to submit written
comments or offend the
hearing, either personally
or through their represen-
tative, and will be 'given
..an .opoo.rtunitv to express
~nelr. ,wews concerning
the prolect or the 'flnanc-
lng. Anyone cleslrlng to
make written comments
In advance at the hearing
may send such comments
to:
Housing Finance Au-
thority at Collier County,
c/o General Counsel,
5150 N. Tamlaml Trail,
Suite 602 Naples~ Flori-
da 34103 '
Written comments re-
ceived in advance of the
hearing and oral com-
merrls made at the hear-
no are for the
consideration of the Au-
thority and will not bind
the Authority.
Co¢l.es of the applica-
tion Tar financing ore
available for Inspection
and copying at the offlce
of the General Counsel set
forth above.
SHOULD ANY PERSON
DECIDE TO APPEAL
ANY DECISION MADE
BY THE AUTHORITY
WITH RESPECT TO ANY
MATTER CONSIDERED
AT SUCH HEARING,
SUCH PERSON WILL
NEED A RECORD OF
THE PROCEEDINGS
AND, FOR THAT PUR-
POSE, SUCH PERSON
MAY NEED TO ENSURE
THAT A VERI~ATIM RE-
CORD OF THE PRO-
CEEDINGS IS MADE
WHICH RECORD IN:
CLUDE5 THE TESTIMO-
NY AND EVIDENCE
IPON WHICH THE AP-
r_AL IS TO BE BASED.
tn accordance with the
,merlcans with Dlsabill.
es ACt, persons needing
special accommodation
) participate in this hear-
lg should contact Donald
,. Plckworth, General
ounsel, at (941) 263-8060
o later than seven (7)
aVs prior to the hearing.
This notice is givenpur.
uant fo Section 147(f) of
3e Internal Revenue
ode, as amended.
/s/John T. Conroy, Jr.
Chairman
Jan~ 1~ Ng, 1749029
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RESOLUTION 2001-01
]Execution Copy
RESOLUTION REGARDING THE OFFICIAL ACTION OF THE HOUSING
FINANCE AUTHORITY OF COLLIER COUNTY, FLORIDA, RELATIVE TO
THE ISSUANCE OF NOT TO EXCEED $6,700,000 TAX-EXEMPT
MULTIFAMILY HOUSING REVENUE BONDS FOR THE PURPOSE OF
ACQUIRING, CONSTRUCTING AND EQUIPPING MULTIFAMILY
RESIDENTIAL HOUSING FACILITIES FOR PERSONS OR FAMILIES OF
LOW, MIDDLE OR MODERATE INCOME; AND FURTHER AUTHORIZING
THE EXECUTIONAND DELIVERY OF AN AGREEMENT BY AND BETWEEN
THE AUTHORITY AND BRITTANY BAY PARTNERS, LTD.; PROVIDING
AN EFFECTIVE DATE.
WHEREAS, Brittany Bay Partners, Ltd. (the "Company") has
applied to the Housing Finance Authority of Collier County, Florida
(the "Authority"), to (i) issue its tax-exempt multifamily housing
revenue bonds in a principal amount not to exceed $6,700,000 (the
"Bonds") and such taxable multifamily housing revenue bonds (the
"Taxable Bonds") as the Authority may authorize by subsequent
resolution (the "Bond Resolution") for the purpose of financing the
acquisition, construction, equipping and developmen~ of multifamily
residential housing facilities for persons or families of low,
middle or moderate income to be located in Collier County (the
"Project"), and (ii) to loan the proceeds of the Bonds to the
Company pursuant to Chapter 159, Part IV, Florida Statutes, or such
other provision or provisions of Florida law as the Authority may
determine advisable (the "Act"); and
WHEREAS, a determination by the Authority to issue the Bonds
under the Act, if so requested by the Company, in one or more
issues or series not exceeding an aggregate principal amount of
$6,700,000 and to loan the proceeds thereof available to finance
the Project under a loan agreement or other financing agreement
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 purposes provided in the Act; and
WHEREAS, the Company has entered into the Preliminary
Agreement dated November 27, 2000 relating to the issuance of the
Bonds; and
WHEREAS, the Authority held a public hearing on the proposed
issuance of the Bonds for the purposes herein stated on February 1,
2001 which public hearing was conducted in a manner that provided
a reasonable opportunity for persons with differing views to be
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EXHIBIT B TO BCC
RESOLUTION
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heard, both orally and in writing, on both the issuance of such
Bonds and the location and nature of the portion of the Project to
be financed with the proceeds therefrom; 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.
IT IS, THEREFORE, DETERMINED AND RESOLVED BY THE HOUSING
FINANCE AUTHORITY OF COLLIER COUNTY, FLORIDA, THAT:
1. Approval of the Project. The acquisition, construction,
equipping and development of the Project and the financing thereof
by the Authority through the issuance of the Bonds, pursuant to the
Act, will promote the health and welfare of the citizens of Collier
County and will thereby serve the public purposes .of the Act.
2. Execution and Delivery of Preliminary Agreement. The
Chairman or Vice-Chairman of the Authority hereby are authorized
and directed to execute, for and on behalf of the Authority, the
Preliminary Agreement of even date herewith between the Authority
and the Company providing understandings relative to the proposed
issuance of the Bonds by the Authority to finance the Project in an
aggregate principal amount not to exceed the lesser of (a)
$6,700,000, or (b) the cost of the Project, as determined by the
Authority.
3. 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 to the conditions
set forth in the Preliminary Agreement of even date herewith, in
one or more issues or series in an aggregate principal amount not
to exceed $6,700,000 for the purpose of financing the Project
described in such Preliminary Agreement. The Bonds shall be
designated ~Housing Finance Authority of Collier County Multifamily
Housing Revenue Bonds Series 2001 (Brittany Bay Apartments)" or
such similar designation as the Authority may deem advisable. The
rate of interest payable on the Bonds shall not exceed the rate
permitted by law.
4. Recommendation for Approval to Board of County
Commissioners. The Authority hereby recommends the issuance of the
Bonds and the financing of the Project for approval to the Board of
County Commissioners of Collier County (the "Board" ) . The
Authority hereby directs the Chairman, Vice-Chairman or Issuer's
Counsel, either alone or jointly, at the expense of the Company, to
seek approval for the issuance of the Bonds and the financing of
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the Project by the Board as the applicable elected representatives
of Collier County under and pursuant to the Act and Section 147(f)
of the Internal Revenue Code of 1986, as amended.
5. General Authorization. The Chairman, the Vice-Chairman,
the Secretary and counsel for the Authority hereby are 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 and necessary in order to cause the Authority to
issue the Bonds subject to the terms and conditions set forth in
the Preliminary Agreement authorized hereby.
6. Affirmative Action. This resolution is an affirmative
action of the Authority toward the issuance of the Bonds, as
contemplated in said Preliminary Agreement, in accordance with the
purposes of the laws of the State of Florida and the applicable
United States Treasury Regulations.
7. Approval of Notice of Public Hearing. The form of notice
of public hearing attached hereto as Exhibit "A" is hereby approved
and the publishing thereof ratified by the Authority.
8. Appointment of Counsel. The Authority appoints Nabors,
Giblin and Nickerson, P.A., Tampa, Florida to act as bond counsel
to the Authority in connection with the issuance by the Authority
of the Bonds. The firm of Donald A. Pickworth, P.A., Naples,
Florida is the duly appointed Issuer's Counsel.
9. Limited Obligations. The Bonds and the interest thereon
shall not constitute an indebtedness or pledge of the general
credit or taxing power of Collier County, the State of Florida or
any political subdivision or agency thereof but shall be payable
solely from the revenue pledged therefor pursuant to a loan
agreement or other financing agreement entered into by and between
the Authority and the Company prior to or contemporaneously with
the issuance of the Bonds.
10. Limited Approval. The approval given herein shall not be
construed as an approval of any necessary zoning applications nor
for any other regulatory permits relating to the Project and the
Authority shall not be construed by reason of its adoption of this
resolution to have waived any right of the County or to have
estopped the County from asserting any rights or responsibilities
it may have in that regard.
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This Resolution shall take effect immediately.
ADOPTED this 1st day of February, 2001.
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(SEAL)
HOUSING FINANCE AUTHORITY OF
COLLIER COUNTY, FLORIDA
By: /s/
Chairman
ATTEST:
/s/
Secretary
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