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Resolution 2001-439 16L2 RESOLUTION 2001- 439 A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF COLLIER COUNTY, FLORIDA, APPROVING THE ISSUANCE OF NOT EXCEEDING $13,000,000 HOUSING FINANCE AUTHORITY OF COLLIER COUNTY TAX- EXEMPT MULTI-FAMILY HOUSING REVENUE BONDS, (GOODLETTE ARMS 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 October 11, 2001 (the "Public Hearing") on the application of Goodlette Arms LLC, (the "Company ")for the issuance of not exceeding $13,000,000 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 to the Authority Resolution attached hereto, 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 proposed 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 the issuance of the Bonds, the Issuer has adopted its Resolution 2001- 06, a copy of which is attached hereto as Exhibit A, 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 Bonds by reason of their issuance. Section 2. Approval of Issuance of the Bondsf, 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 Ii County's Growth Management Plan, all concurrency"requirements contained therein, and the Collier C:\WINOOWS\DC5ktop\IIOFA-Goodletle Anns'BCC RuolUlion Goodlette Armi."'rpd 1612 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 November, 2001. (SEAL) ,<,.::: . r:C.t~~"\ . "';...-....... ............(!'!,.. -' ~Tr~~.. . <" ---_ ? tp~gb~~.~~k~qerk ::<. . ;- . ,;~ ~: -""- '. " i ~:::"'-y f") ( ~ ':~ j -",).17 _ .,"':) ~~!.~~';~/p ."./ Deputy Clerk Attest IS to ChiiMIIR'S st....twt ..lJe COLLIER COUNTY, FLORIDA By: James . Carter, Ph.D., Chairman Board of County Commissioners of Collier County, Florida 1/ !/.J/IJ! Approved as to form and legal sufficiency: V?-- . ~a:J2 fb r David C. Weigel County Attorney C:\WlNDOWS'.Dcsktop\HOFA-Goodlr:IIC Amu\BCC Resoh.lticm Goodlettc Anm,wpd 16L2 RESOLUTION 2001-06 Execution Copy RESOLUTION REGARDING THE OFFICIAL ACTION OF THE HOUSING FINANCE AUTHORITY OF COLLIER COUNTY, FLORIDA, RELATIVE TO THE ISSUANCE OF NOT TO EXCEED $13,000,000 TAX EXEMPT AND TAXABLE MULTIFAMILY HOUSING REVENUE BONDS FOR THE PURPOSE OF ACQUIRING MULTIFAMILY RESIDENTIAL HOUSING FACILITIES FOR PERSONS OR FAMILIES OF LOW, MIDDLE OR MODERATE INCOME; AND FURTHER AUTHORIZING THE EXECUTION AND DELIVERY OF AN AGREEMENT BY AND BETWEEN THE AUTHORITY AND GOODLETTE ARMS LLC.; PROVIDING AN EFFECTIVE DATE. WHEREAS, Goodlette Arms LLC (the "Company") has applied to the Housing Finance Authority of Collier County, Florida (the "Authority"), to (i) issue its tax-exempt and taxable multifamily housing revenue bonds in a principal amount not to exceed $13,000,000 (the "Bonds") as the Authority may authorize by subsequent resolution (the "Bond Resolution") for the purpose of financing the cost of acquisition (which shall include other costs and reserves in connection therewith), of an existing multifamily residential housing facility for persons or families of low, middle or moderate income located in Collier County and named Goodlette Arms (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 $13,000,000 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 a Preliminary Agreement for Issuance of Multifamily Housing Revenue Bonds (the "Preliminary Agreement") dated August 14, 2001 relating to the issuance of the Bonds; and WHEREAS, the Authority held a hearing on the proposed issuance of herein stated on August 14, 2001; and special meeting and public the Bonds for the purposes C\WINDOWS\Desktop\HOFA-Goodlcuc ^nU5\1lldu,~ment kcsolulion08. 14-01/12. wtx! EXHIBIT A TO Bee RESOLUTION 16L2 :, 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 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 between the Authority and the Company providing understandings relative to the proposed issuance of the Bonds by the Authority to finance the proj ect in an aggregate principal amount not to exceed the lesser of (a) $13,000,000, 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, in one or more issues or series in an aggregate principal amount not to exceed $13,000,000 for the purpose of financing the Project. The Bonds shall be designated "Housing Finance Authority of Collier County Multifamily Housing Revenue Bonds Series 2001 (Goodlette Arms Apartments)n 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. 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 C.\WCNDOWS\Oc..klop\llOFA -Goodlellc Ann.\Jndu.~cmcnl Rc.ol...Lion08.14-01,,2 wpd -2- United States Treasury Regulations. 16L2 8. Appointment of Counsel. The Authority appoints Nabors, Giblin and Nickerson, P.A., Tallahassee, 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. This Resolution shall take effect immediately, ADOPTED this 14th day of August, 2001. HOUSING SJN~UTH:9B.ITY COLLIER/CO Y v' RIDA ( SEAL) p- ~TTEST' AI~I S~Y C \WIN[)QWS\D~d:top\HOFA.tioodlt:tlc: Amu\lnducCR\<l!ifll R....llullonOM-14.01 /112 _I'd -3-