Agenda 01/29/2008 Item #10A
Agenda Item No. 10A
January 29, 2008
Page 1 of 14
EXECUTIVE SUMMARY
Recommendation to approve Exhibit E, Amendment #2 to Contract #06-3914,
"Construction Management at Risk Services for the Collier County Fleet Facilities" with
Wright Construction Corp. in the amount of $9,272,848.00 for the Fleet Facility, project
52009, Phase 3, which includes the construction of the new Sheriff's Fleet Management
Department Facility and the replacement of the existing Fuel Facility that is shared by
both the County and Sheriff's Fleet Departments.
OBJECTIVE: To approve Exhibit E, Amendment #2 to Contract #06-3914, "Construction Management at
Risk Services for the Collier County Fleet Facilities" with Wright Construction Corp. in the amount of
$9,272,848.00 for the Fleet Facility, Project 52009, Phase 3 which includes the construction of the new
Sheriffs Fleet Management Department Facility and the shared Fuel Facility.
CONSIDERATION: The Fleet Facilities project was originally planned for three major construction
phases. The first phase included moving the location and replacing the old, guy-wire type,
communication tower with a new free-standing tower. This phase was completed in February 2007 by
Communications International, Inc. The Construction Management at Risk Contract for Phase 2 was
approved by the Board on November 14, 2006, agenda item 10J and included constructing the County
Fleet Facility with the associated parking and site work. This phase reached substantial completion at the
end of December 2007.
The third and final phase of the project includes demolishing the existing Fleet Facility (as soon as the
.-- move into the new facility is completed), mitigation of any contaminated soils, constructing the new
Sheriff's Fleet Facility on the western end of the property (closest to County Barn Road), construction of a
Vehicie Washing Facility, and replacing the existing Fuel Facility both of which are situated approximately
midway between the two Fleet buildings. The Fuel Facility (replacement of the existing facility) was
added to Phase 3 in mid-2007 when it was recognized that the existing facility was 2.5 feet below the
elevation requirements of the Site Development Plan (SDP). The existing fuel facility was also nearing
the end of its useful iife, and would have to be replaced within five years to meet the new standards for
fuel tanks and dispensers.
The Building Permit for the Sheriff's Fleet building was issued in October 2007, and a GMP proposal for
Phase 3 was received from Wright Construction on November 8, 2007 in the amount of $10,516,705.
This GMP was approximately $1,100,000 above the allowable budget for Phase 3. Costs exceeded
estimates for the new Fuel Facility and the Vehicle Washing Facility. An unexpected, additional cost of
$200,000 for the SDP required Turning Lanes on County Barn Road was also added to the project when
the Transportation Division canceled the project for widening County Barn Road, which had previously
included the new turning lanes. A detailed review of the GMP proposal resulted in reductions of
$315,000. Further evaluation of the Phase 3 functional components by Project Management, County
Fleet Management, and the Sheriff's Fieet Management resulted in agreement that eliminating the nearly
$900,000 cost of the Vehicle Washing Facility presented the best option for reducing the cost of this
phase of the Fieet Project to within budget parameters with the minimum impact on overall functionality.
The Vehicle Washing Facility, which is already permitted, may be re-configured or phased into installation
segments for future implementation. Some basic component segments of the Vehicle Washing Facility,
such as the drainage slab and the protective enclosure, may be considered for inclusion if budgeted
allowances within this GMP for soil contamination abatement and construction contingencies are not
required.
~~
Wright Construction's revised GMP proposal for the Phase 3 Sheriff's Fleet, which reflects the cost
reductions and the removal of the Vehicle Washing Facility in the amount of $9,272,848.00 was received
Agenda Item No. 10A
January 29,2008
Page 2 of 14
on December 19, 2007 (see attachment). This revised proposal falls within the current approved budget
for Phase 3 of the project.
If the GMP for this phase is approved, the demolition of the existing BCC Fleet Facility and construction of
the Sheriffs Fleet Facility will start in early February 2008 and complete in March 2009.
The estimated, final project costs are as follows:
Amounts
Phase 1 - Completed
Communications Tower $1,229,722
Phase 2 - Construction in ProQress
Design, Permitting & Site 1,783,156
Develop work
IF paid for BCC building 211,390
IF paid for SO building 190,454
BCC Fleet Building 9,415,278
Commissioning & misc. 244,000
Phase 3 - ReQulrinQ BCe Approval
Demolition of old building 64,000 .
Allowance for soil 220,000 .
contamination
SO Fleet Building 7,618,486 .
Commissioning & misc. 325,000
Vehicle Washing Facility 0
Replace Fuel Facility 999,064
Turning lanes on County
Barn Road
Landscape Upgrades
Required by Current
Code
GMP contingencies
Project contingencies
Grand Total
150,000 .
50,000 .
171,298 .
237.152
$22,909,000
~
Not Impact Fee (IF) eligible
These costs are to be split between the BCC
Fleet & SO Fleet buildings.
Gen Gov't Facilities (GGF) Impact Fee (IF)
Law Enforcement (LE) Impact Fee (IF)
Old building to be replaced by larger building,
growth portion to be pd from GGFIF
Total cost to be paid from Law Enforce IF
If built, cost will be split between GGFIF and
LEIF
Replacing 16,000 gallon facility with 40,000
gallon facility, growth portion will be paid with
GGFIF and LEIF
Cost will be split between GGFIF and LEIF
Cost will be split between GGFIF and LEIF
r Components of the $9,272,848, Wright Construction Corp. GMP)
FISCAL IMPACT: The current budget for this project is as follows:
Source of Funds
Residual cash from capital replacement fund
Series 2005 revenue bond proceeds
Impact Fees
Commercial Paper loan (amt. received 12/07)
Commercial Paper loan (loan amt. needed)
Total
Amount
$600,000
$9,570,000
$33
$2,637,067
$10,101.900
$22,909,000
In February 2005, the Series 2005 Revenue Bond proceeds were placed into the General Governmental
Facilities Impact Fee Fund 390 for the construction of the Fleet building(s) and the tower. At that time, as
Agenda Item No.1 OA
January 29, 2008
Page 3 of 14
the new Law Enforcement Impact Fee was in the process of being adopted, the Sheriffs Fleet building
was budgeted in Fund 390.
In the FY 2008 budget, the Sheriffs Fleet building and related costs have been budgeted in the Law
Enforcement Impact Fee Fund 385. The budget includes "reimbursing" the General Governmental
Facilities Impact Fee Fund 390 for the shared costs of design, permitting, site development, the "growth"
portion of the Fuel Facility and the turning lanes needed on County Barn Road in the amount of
$1,150,000. A budget amendment is needed to increase this dollar amount to $1,291,300 to reflect the
actual amount resulting from splitting these costs. In the Law Enforcement Impact Fee Fund 385 the
budget amendment will decrease the project budget and increase the transfer out to Fund 390. In the
General Governmental Facilities Fund 390, the revenue account called Transferred In will increase, as
well as the project budget by $141,300.
A net Commercial Paper loan amount of $10,101,900 is required for this project; with fees and prepaid
interest, a gross loan not to exceed $10,125,000.00 is recommended. Estimated annual principal
payments (based on a 15-year term) amount to $675,000 plus monthly interest is paid on the outstanding
principle amount (variable rate, budgeted at 5%). When the cash is received, $405,300 shall be
deposited into the General Governmental Facilities Impact Fee Fund 390 and the balance of $9,696,600
will be deposited into the Law Enforcement Impact Fee Fund 385.
A second set of budget amendments are needed to amend the loan proceeds budgets in both impact fee
funds.
1. In the Law Enforcement Impact Fee Fund 385, the project expenses and loan proceeds need to
be reduced by $405,300.
2. In the General Governmental Facilities Impact Fee Fund 390, the project expenses and loan
proceeds need to be increased by $405,300.
The 2005 bond principle and interest payments will be paid from the General Governmental Facilities
Impact Fee Fund 390 and the General Fund 1/3 mill capital. The Commercial Paper Loans will be paid
from both impact fee funds (General Governmental Facilities and Law Enforcement) and the General
Fund 1/3 mill capital.
The Finance Committee approved the recommendation to issue a $10,125,000 commercial paper loan to
finance Phase 3 of the Fleet Facility.
GROWTH MANAGEMENT IMPACT: This project is consistent with the Growth Management Plan.
RECOMMENDATION: That the Board of County Commissioners 1) approves Exhibit E, Amendment #2
to contract #06-3914, "Construction Management at Risk Services for the Collier County Fleet Facilities"
with Wright Construction Corp. in the amount of $9,272,848.00 for the Fleet Facility, Project 52009,
Phase 3 which includes the construction of the new Sheriffs Office Fleet Management facility, the new
Fuel Facility and the required addition of Turning Lanes to County Barn Road; 2) authorizes the Chairman
to execute a contract amendment with Wright Construction, after review by the County Attorney's Office,
in an amount of $9,272,848, 3) adopts the attached Resolution authorizing a loan in an amount not to
exceed $10,125,000.00 from the Commercial Paper Loan program, and 4) approves all necessary budget
amendments.
PREPARED BY: Hank Jones, P.E., Principal Project Manager, Department of Facilities Management
Page I of 1
Agenda Item No.1 OA
January 29, 2008
Page 4 of 14
COLLIER COUNTY
BOARD OF COUNTY COMMISSIONERS
Item Number:
Item Summary:
10A
Recommendation to approve Exhibit E, Amendment #2 to Contract #06-3914. Construction
Management at Risk Services for the Collier County Fleet Facilities with Wright Construction
Corp. in the amount of $9,272,848.00 for the Fleet Facility, project 52009, Phase 3. which
includes the construction of the new Sheriff's Fleet Management Department Facility and the
replacement of the existing Fuel Facility that is shared by both the County and Sheriff's Fleet
Departments. (Hank Jones, Senior Project Manager)
Meeting Date:
1/29/2008900:00 AM
Prepared By
Hank Jones
Senior Project Manager
Date
Administrative Services
Facilities Management
1/3/20082:18:41 PM
Approved By
Skip Camp, C.F.M.
Facilities Management Director
Date
Administrative Services
Facilities Management
1/3/20083:16 PM
Approved By
Lyn Wood
Purchasing Agent
Date
Administrative Services
Purchasing
1/3/20084:24 PM
Approved By
Steve Carnell
Purchasing/General Svcs Director
Date
Administrative Services
Purchasing
1/3/20084:30 PM
Approved By
Len Golden Price
Administrative Services Administrator
Date
Administrative Services
Administrative Services Admin.
1/3/20085:21 PM
Approved By
OMS Coordinator
OMS Coordinator
Date
County Manager's Office
Office of Management & Budget
1/4/20089:07 AM
Approved By
Susan Usher
Senior ManagemenUBudget Analyst
Date
County Manager's Office
Office of Management & Budget
1/7/2008 1 :42 PM
Approved By
James V. Mudd
County Manager
Date
Board of County
Commissioners
County Manager's Office
1/22/200812:37 PM
ti Ie:! /e :\AgendaTest\Export\99-January%2029, %202008\ I O. %20COUNTY%20MANAGE...
1/23/2008
EXHIBIT E
Agenda Item No. 10A
January 29, 2008
Page 5 of 14
AMENDMENT NO.1 TO AGREEMENT BETWEEN
OWNER AND CONSTRUCTION MANAGER
PllrSll<lll( to Articles 7 and 8 or tlle Agr'eemcnL daled 12/1912007 between The Board of ('<Hlllt)' Commissioners of Collier County, Floridn, u political
silbdjvisionof the Stale of Florida ("Owl1er") ;lHd Wright COllstrllctiollGroup ("Constrnction Manager"), lor management and cnl1struclionCo]licrCOllll1y
Fleet Facility ("I'rojcct"), the Owner "llld COllSlmctionMallagcr hereby establish Ihe Constructions Manager's fcc. Cost of the Project, Guatl.Jod Maximum
Price ~Jnd COlllrncL Time for tb: Work as sel forth bl,.":lo\\l;
I. CONSTRUCTION MANAGER'S FEE
The Construction Manager's fec, as defined in Article 8,1.2 of the Agreement, fol' work or services performed during the
COllstruction Phase shall be $ 525,728.00 The Construction Phase Fcc shall be invoiced and paid in 13 monthly payments of
$ 37,552.00 and one final monthly payment of $ 37.552.00. The first monthly Application for Payment shall be submitted no
carlicl' than thirty days following the issuance of the first Construction Authorization by Owner's Representative and the final
Application for Paymenl shall be paid only \vhcn construction of the projeCt is finally completed and occupancy of the Project
accepted by the Owner.
2. COST OF TilE PllO.JECT
The total Cost of the Project 11S {Iclin~d in ArLick ') of this ^greement is $ 9,272,848.00
J. (;UARANTUW MAXIMtI\1
Construction Manager's Ciunrantcccl Mllximum Price 1'01' the Work, including the Construction Managcr's Fcc and Cost of lhe Project is
$ 9,272.848.00. This Price is for the perCornl<lllce of lhe Worl< in accordance with tile Contract Doc\lments lislcd and attached ('0 tbis
Amcndmcnt and marked Attachmcnts lthrollgh 6. as follows:
Altnchlllcnt
Number
Description
hlgCS
\Jated
Drawings, SpcclnC'lliol1s,
Addcndn and Gel)cral.
Supplell1entary and olher
Conditions of th:: Contract
On which tbe Guaranteed
1'..1aximulll Price is bas<:d.
PAGES 1- (, PROPOSAl. EXHIBIT "B"
1 211912007
2. Allowance items
ITEMS I - 5 PROPOSAL LETTER
1211<)12007
3. AsslImptions ami c1ariJicati{)llS
made in prepZlring the
Guaranteed Maximum Pricc.
PAGES I - 3 1211912007
4 Completion schedule
1211912007
5. Alternate prices
NIA
6. Unit Prices
~IA
40
Agenda Item No.1 OA
January 29, 2008
Page 6 of 14
4. CONTIlACT TIM I,
The total period of time beginning with tbe Construction Phm;c Commcl1Ccmellt Date to the dote of Substantial Completion of the Work is 455
days ("Contract Time").
Attes.t:
CONSTRUCTION MANAGER
~ M1-
Ba::2:~ ~~
Corporate Secretary
-
By: KEITH A. MOYER
Its: VICE PRESIDENT BUILDING OPERATIONS
As Witnessed:
/-j
/. J//
'( /iL/"?NcA/ {/ / /2yc:ryY
,
(Corporate Seal)
By
OWNER
ATTEST:
DWIGHT W. BROCK, CLmK
BOARD OF COUNTY COMMISSIONERS
COLLIER COUNTY, FLORIDA
By
By
FRANK HALAS, CHAIRMAN
DEPUTY CLERK
Approved as to form and legal sufficiency:
._-~----------,.__....~------_.- ----------,...----.'
Robert N. Zachary, Assistant County Attorney
41
".
The "Wrigld" Choice
5i"""I1146
Agenda Item No. OA
5811 YoungqWst~uary 29, 2 08
Fort Myen, FL33912 Page 7 0 14
(239) 481~5000 Phone
(239) 4S1~2448 Fox
CGC-il53444
November 8, 2007
Estimate 097-07
Revised 12/19/2007
Board of County Commissioners
Collier County, Florida
3301 Tamiami Trail East
Building W
Naples, Florida 34112
Attention:
Mr. Hank Jones
Principal Project Manager
Collier County Fleet Facility
2901 County Barn Road
Naples, Florida 34112
Regarding:
Dear Mr. Jones:
Wright Construction Group would like to thank you for this opportunity to provide you with our
proposal to perform the work required for the above referenced project.
Pursuant to your request, we propose to provide, equipment, labor. materials, subcontractor
participation, and supervision as required per the documents listed in Exhibit "A" to perform the
following scope of work for Phase Two of this project:
1. Demolition as required
2. Site work
3. Aluminum Rolling Gates with controls
4. Landscaping, Irrigation and Precast wall
5. Concrete and Masonry work
6. Structural and Miscellaneous metals
7. Carpentry and Millwork
8. Building Insulation, Waterproofing and Sealants
9. Modified Bitumen Roofing System
10. Hollow Frames/Doors and Wood/PL Doors
11. Overhead Doors and Curtain Walls
12. Metal studs and drywall
13. ACT, Ceramic and Vinyl tile
(!!!!l
The "Wrlght"Choicc
SillCol946
Agenda Item No. OA
5811 Youngquist Rdainuary 29,2 08
Fort Myers, FL339l2 Page 8 0 14
(239) 481-5000 Phone
(239)481-2448 Fax
CGC-053444
"..
14. Painting and Epoxy Floor Finish
15. Construction Specialties
16. Exterior Sun Control Devices
17. Toilet accessories
18. Shop Equipment New and Relocated
19. Mini blinds
20. Pre-En!,.;neered Metal Building
2 L Fuel Station with Fuel Tanks
22. Plumbing
23. HV AC I Controls
24. Electrical
25. Communications and Technology
Our proposal includes the following allowances:
1. $ 200,000.00 allowance for the excavation and removal of contaminated soils
2. $ 150,000.00 allowance for the construction of a future off-site turn lane
3. $ 50,000.00 allowance for potential landscaping upgrades required by current codes
4. $ 5,000.00 allowance for landscaping at the fuel station
5. $ 20,000.00 allowance for the potential removal of arsenic
Our proposal also includes a contingency of$ 171,298.00 (One Hundred Seventy One Thousand Two
Hundred Ninety Eight Dollars), and a five percent fee.
We propose to perform the work required by this contract for the Guaranteed Maximum Sum of
$ 9,272,848.00 (Nine Million Two Hundred Seventy Two Thousand Eight Hundred Forty Eight
Dollars).
Our proposal is based in the following attachments included with this proposal:
Exhibit "A"
Exhibit "8"
Exhibit "C"
Exhibit "0"
Drawing Log (Basis of GMP)
Job Cost Estimate
Assumptions and Clarifications
Preliminary Schedule
Respectfully Submitted,
~h~oJ~
Vice President Building Operations
Agenda Item No.1 OA
January 29, 2008
Page 9 of 14
RESOLUTION NO. 2007-
A RESOLUTION OF THE BOARD OF COUNTY
COMMISSIONERS OF COLLIER COUNTY, FLORIDA,
AUTHORIZING THE BORROWING OF NOT
EXCEEDING $10,125,000 FROM THE POOLED
COMMERCIAL PAPER LOAN PROGRAM OF THE
FLORIDA LOCAL GOVERNMENT FINANCE
COMMISSION PURSUANT TO THE TERMS OF THE
LOAN AGREEMENT BETWEEN THE COMMISSION
AND THE COUNTY IN ORDER TO FINANCE THE
COSTS AND EXPENSES RELATING TO PHASE 3 OF
THE FLEET FACILITIES PROJECT, INCLUDING THE
REIMBURSEMENT OF CERTAIN COSTS INCURRED
BY THE COUNTY IN CONNECTION THEREWITH,;
AUTHORIZING THE EXECUTION OF A LOAN NOTE
OR NOTES TO EVIDENCE SUCH BORROWING;
AGREEING TO SECURE SUCH LOAN NOTE OR NOTES
WITH A COVENANT TO BUDGET AND APPROPRIATE
LEGALLY AVAILABLE NON-AD VALOREM
REVENUES AS PROVIDED IN THE LOAN
AGREEMENT; AUTHORIZING THE EXECUTION AND
DELIVERY OF SUCH OTHER DOCUMENTS AS MAY
BE NECESSARY TO EFFECT SUCH BORROWING; AND
PROVIDING AN EFFECTIVE DATE.
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS OF COLLIER COUNTY, FLORIDA:
SECTION 1. DEFINITIONS. Unless the context of use indicates another
meaning or intent, the following words and terms as used in this Resolution shall have the
following meanings. Capitalized terms not defined herein shall have the meanings
ascribed thereto in the hereinafter defined Loan Agreement.
"Aet" means, collectively, Part I, Chapter 125, Florida Statutes, Part I, Chapter
163, Florida Statutes, and all other applicable provisions oflaw.
"Additional Payments" means the payments required to be made by the County
pursuant to Sections 5.02(b), 5.02(c), 5.02(d), 5.05 and 6.06(e) of the Loan Agreement.
"Board" means the Board of County Commissioners of the County.
~~----
Agenda Item No.1 OA
January 29, 2008
Page 10 of 14
"Chairman" means the Chairman or Vice Chairman of the Board, and such other
person as may be duly authorized to act on his or her behalf.
"Clerk" means the Clerk of the Circuit Court for the County, ex-officio Clerk of
the Board, and such other person as may be duly authorized to act on his or her behalf.
"Commission" means the Florida Local Government Finance Commission, and
any assigns or successors thereto.
"County" means Collier County, Florida, a political subdivision of the State of
Florida.
"County Manager" means the County Manager of the County or his designee
and such other person as may be duly authorized to act on his or her behalf.
"Designated Revenues" means (I) Public Agency Moneys budgeted and
appropriated for purposes of payment of the Loan Repayments and any other amounts
due under the Loan Agreement, and (2) the proceeds of the Loan pending the application
thereof.
"Draw" means the borrowing of money under the Loan Agreement in accordance
with Article III thereof.
"Loan" means the loan to be made by the Commission to the County from
proceeds of the Series A Notes in accordance with the terms of this Resolution and of the
Loan Agreement.
"Loan Agreement" means the Loan Agreement, dated as of April 12, 1991,
between the County and the Commission, as amended and supplemented and as the same
may be further amended and supplemented.
"Loan No. A-45" means the Loan designated as "Loan No. A-45" the proceeds of
which shall be used to finance a portion of the costs of Project A-45.
"Loan Note" means a note of the County evidencing the obligations incurred
under the Loan Agreement by the county on account of a Draw made in regard to a Loan,
which shall be in substantially the form provided in Exhibit I to the Loan Agreement.
"Loan Rate" has the meaning set forth in the Loan Agreement.
"Loan Repayments" or "Repayments" means the payments of principal and
interest at the Loan Rate on the Loan amounts payable by the County pursuant to the
provisions of the Loan Agreement and all other payments, including Additional
Payments, payable by the County pursuant to the provisions of the Loan Agreement.
2
Agenda Item No. 10A
January 29, 2008
Page 11 of14
"Non-Ad Valorem Revenues" means all legally available revenues of the County
derived from any source whatsoever other than ad valorem taxation on real and personal
property, which are legally available to make the Loan Repayments required in the Loan
Agreement, but only after provision has been made by the County for the payment of
services and programs which are for essential public purposes affecting the health,
welfare and safety of the inhabitants of the County or which are legally mandated by
applicable law.
"Program" means the Pooled Commercial Paper Loan Program established by
the Commission.
"Project A-45" means Phase 3 of the Fleet Facilities Project which includes, but
is not limited to, demolishing the existing Fleet Facility, mitigation of any contaminated
soils, construction of new Sheriff's Fleet Facility on the western end of the property,
construction of a Vehicle Washing Facility and replacing the existing Fuel Facility, as
more particularly set forth in the plans and specifications on file or to be on file with the
County and as the same may be amended or modified from time to time.
"Publie Ageney Moneys" shall mean the moneys budgeted and appropriated by
the County for payment of the Loan Repayments and any other amounts due hereunder
from Non-Ad Valorem Revenues pursuant to the County's covenant to budget and
appropriate such Non-Ad Valorem Revenues contained in Section 6.04 of the Loan
Agreement.
"Resolution" means this Resolution, as the same may from time to time be
amended, modified or supplemented.
"Series A Notes" means the Commission's Pooled Commercial Paper Notes,
Series A (Governmental Issue), to be issued from time to time by the Commission.
The terms "herein," "hereunder," "hereby," "hereto," "hereof," and any similar
terms, shall refer to this Resolution; the term "heretofore" shall mean before the date of
adoption of this Resolution; and the term "hereafter" shall mean after the date of adoption
of this Resolution.
Words importing the masculine gender include every other gender.
Words importing the singular number include the plural number, and vice versa.
SECTION 2. AUTHORITY FOR RESOLUTION. This Resolution IS
adopted pursuant to the provisions of the Act.
SECTION 3.
declared that:
FINDINGS. It IS hereby ascertained, determined and
3
Agenda Item No. 10A
January 29, 2008
Page 12 of 14
(A) The Commission has been established for the principal purpose of issuing
commercial paper notes in order to provide funds to loan to public agencies, such as the
County, desiring to finance and refinance the cost of acquiring, constructing and
equipping capital improvements and to finance and refinance other governmental needs.
(B) In furtherance of the foregoing, the Commission shall issue, from time to
time, commercial paper notes to be known as "Florida Local Government Finance
Commission Pooled Commercial Paper Notes, Series A (Governmental Issue)" and shall
loan the proceeds of such Series A Notes to public agencies, including the County.
(C) Pursuant to the authority of the Act, the Commission has agreed to loan,
from time to time, to the County such amounts as shall be authorized herein and in the
Loan Agreement in order to enable the County to finance, reimburse or refinance the cost
of acquisition, construction and equipping of capital improvements, including Project A-
45.
(D) The County desires to borrow an amount not to exceed $10,125,000 in
order to finance a portion of the acquisition of Project A-45.
(E) On November 14,2006, the Board authorized Project A-45 to be financed
with proceeds of a loan under the Program in order to incur costs related thereto, which
costs were expected to be reimbursed.
(F) The County hereby determines that the provISIon of funds by the
Commission to the County in the form of Loan No. A-45 pursuant to the terms of the
Loan Agreement and the financing of Project A-45 will assist in the development and
maintenance of the public welfare of the residents of the County, and shall serve a public
purpose by improving the health and living conditions, and providing governmental
services, facilities and programs and will promote the most efficient and economical
development of such services, facilities and programs.
(G) Loan No. A-45 shall be repaid solely from the Designated Revenues. Such
Designated Revenues shall include moneys derived from a covenant to budget and
appropriate legally available Non-Ad Valorem Revenues. The ad valorem taxing power
of the County will never be necessary or authorized to make the Loan Repayments.
(H) Due to the potential volatility of the market for tax-exempt obligations such
as the Note or Notes to be issued evidencing Loan No. A-45, the complexity of the
transactions relating to such Note or Notes and the uniqueness of the Program, it is in the
best interest of the County to deliver the Note or Notes to the Commission pursuant to the
Program by a negotiated sale pursuant to Section 218.385(1), Florida Statutes, allowing
the County to utilize the Program in which it participates from time to time and to enter
the market at the most advantageous time, rather than at a specified advertised date,
4
Agenda Item No. lOA
January 29, 2008
Page 130f14
thereby permitting the County to obtain the best possible price, issuance costs and interest
rate for such Note or Notes.
SECTION 4. TERMS OF LOANS. The County hereby approves of Loan
No. A-45 in the aggregate amount of not exceeding $10,125,000 for the purpose of
providing the County with sufficient funds to fmance, refinance or reimburse the costs of
Project A-45. The Chairman and the Clerk are hereby authorized to execute, seal and
deliver on behalf of the County the Loan Note and other documents, instruments,
agreements and certificates necessary or desirable to effectuate the Loan as provided in
the Loan Agreement. The Loan Note or Notes with respect to Loan No. A-45 shall
reflect the terms of such Loan and shall be substantially in the form attached to the Loan
Agreement as Exhibit I. The County Manager shall determine the date or dates of
funding of Loan No. A-45 in accordance with the terms of the Loan Agreement. The
Loan shall mature on such date as the County Manager may determine prior to the
issuance of the Loan Note for Loan No. A-45; provided, however, the final maturity of
the Loan may not be later than the expiration date of the Letter of Credit (as defined in
the Loan Agreement) at the time of the Draw. Loan No. A-45 shall bear interest at the
Loan Rate in accordance with the terms of the Loan Agreement. Loan No. A-45 shall
bear interest at the Loan Rate in accordance with the terms of the Loan Agreement. The
County further agrees to make all Loan Repayments required of it pursuant to the terms
of the Loan Agreement. The Letter of Credit fees for Loan No. A-45 shall be 30 basis
points or such other amount as Wachovia Bank and the County Manager shall agree.
SECTION 5. AUTHORIZATION OF PROJECT A-45. The County
does hereby authorize the acquisition of Project A-45 and the reimbursement of any costs
incurred by the County with respect to Project A-45 since September 15,2006 (60 days
prior to "official intent" referred to in Section 3(E) hereof).
SECTION 6. SECURITY FOR THE LOAN. The County's obligation to
repay Loan No. A-45 will be secured by a pledge of and lien upon the Designated
Revenues in accordance with the terms of the Loan Agreement. The obligation of the
County to repay Loan No. A-45 shall not be deemed a pledge of the faith and credit or
taxing power of the County and such obligation shall not create a lien on any property
whatsoever of or in the County other than the Designated Revenues.
SECTION 7. RESOLUTION TO CONSTITUTE CONTRACT. In
consideration of the making of the Loan by the Commission, this Resolution shall be
deemed to be and shall constitute a contract between (i) the County and (ii) the
Commission and its successors and assigns (the Commission and its successors and
assigns hereinafter referred to as the "Lender"). The pledge and agreements of the
County herein set forth shall be for the benefit, protection and security of the Lender.
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Agenda Item No. 10A
January 29, 2008
Page 14 of 14
SECTION 8. GENERAL AUTHORITY. The members of the Board and
the officers, attorneys and other agents or employees of the County are hereby authorized
to do all acts and things required of them by this Resolution and the Loan Agreement, or
desirable or consistent with the requirements of this Resolution and the Loan Agreement,
for the full punctual and complete performance of all the terms, covenants and
agreements contained in this Resolution and the Loan Agreement, and each member,
employee, attorney and officer of the County or its Board is hereby authorized and
directed to execute and deliver any and all papers and instruments and to do and cause to
be done any and all acts and things necessary or proper for carrying out the transactions
contemplated by this Resolution and the Loan Agreement.
SECTION 9. SEVERABILITY. If anyone or more of the covenants,
agreements or provisions herein contained shall be held contrary to any express provision
of law or contrary to the policy of express law, though not expressly prohibited, or
against public policy, or shall for any reason whatsoever be held invalid, then such
covenants, agreements or provisions shall be null and void and shall be deemed separable
from the remaining covenants, agreements or provisions and shall in no way affect the
validity of any of the other provisions hereof.
SECTION 10. REPEAL OF INCONSISTENT RESOLUTIONS. All
resolutions or parts thereof in conflict herewith are hereby superseded and repealed to the
extent of such conflict.
SECTION 11. EFFECTIVE DATE. This Resolution shall take effect
immediately upon its adoption.
DULY ADOPTED this 29th day of January, 2008.
BOARD OF COUNTY COMMISSIONERS
OF COLLIER COUNTY, FLORIDA
(SEAL)
By:
Chairman
A TrEST: Dwight E. Brock, Clerk
Deputy Clerk
Approved as to Form and Legal Sufficiency:
Di ~ounty Attorney
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