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Resolution 2001-486 16L5 ..,. RESOLUTION2001- 486 A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF COLLIER COUNTY, FLORIDA, APPROVING THE ISSUANCE OF NOT EXCEEDING $8,100,000 HOUSING FINANCE AUTHORITY OF COLLIER COUNTY TAX- EXEMPT MULTI-FAMILY HOUSING REVENUE BONDS, SERIES 2002 (PINNACLE RUN 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 December 3, 2001 (the "Public Hearing") on the application of Pinnacle Run, Ltd., (the "Company")for the issuance of not exceeding $8,100,000 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 proposed project and to the issuance of the Bonds. C. The Issuer has adopted its Resolution 200 1-07, 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 Bonds by reason of their issuance. 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. C:\WINDOWS\~sktop\ll-11 Bce Aaendlt\BCC PinnlClc:.wpd 16L5 ':.\ Section 3. Repealing Clause. All resolutions, including but not limited to Resolution 2001-436, 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 11 th day of December. 2001. (SEAL) A TrEST: COLLIER COUNTY, FLORIDA !~ . De 11m Clef :...,; = - . p~:. . ;.- It to C...1 run's '<:.... \:'.',','Sf' 'w. ...lJ. , I ~".~ ............ -... (" - '". ...... .'~:~ . :;U;:tl~~<"'" """"t,~l' ~ By: James . Carter, Ph.D., ChaIrman Board of County Commissioners of Collier County. Florida Approved as to form and legal sufficiency: (Jbr a.~~ David C. Weigel County Attorney C:\W1NDOWS\Deskl:Op\12.ll Bee Agcnda\BCC Pinnule.wpd " 16L5 Nllpl.. DtIi ly . ..... NIlpl", FL '54102 Affidavit of Publi~tion Nepl.. ..ill' ..... -------------------------+-------------- PI cttllORTH, DOIW.D P. A. 5150 TAIIIMI TIl N 1602 NAPLES fL 34103 REFERENCE: 01CJ784 58350765 Not1oe of Public Hee State of Florida County of COllier Wore the undersigned lI\IthQJ'ity, ,.reonally uppeared Angela IryMt, who on 0Mn MY' ttlat aM ..rve. a. "..t.unt lecNtaI')' of the Nllpl.. Mily NeW" a deily new...... publ1ehed 111: Ihlpl.. in colLt.r County, flortda: t"t the atuched copy 01 lIdv.rti.tng wu p\lblbhed in .etd nwapIIper on dat.. li.ted. Affiant further a.y. that the ..1d Maple. Mily KtIVI ia . newapaper ,wliuad .t _l.., in ..id Collier County, FLorida, and that the ..id newapllplr ha. n.retofore been oont i nuau.ly publ11hed in eaid COlli... County, Florida, ..ch dey and hae b.... entared .. .ecGnd cl... -, l matter M: the poat office in NlIpln, in ..id colli.r county, Flort., 101' I pertod of 1 year next preceding the 1ir.t publiMtion of the .ttached copy of lICIverti..-nt. and affiant f41rther .ay. that .he h.. nei~ .-id nor prOlliaed any perlOl'l, fir. Of' corporation any dtacount, rebete, co_i..ion or joIfund for the purpo.. of .ec:uri"l1 thta ldYerti"lIIIlt for publiction in the ..id newapeper. PUBLISHED ON: 11/19 AD SPACE: FIU!D ON: 175.000 INCH 11/19/01 -...---- signature of "ffi~t Sworn to and subacrtbed Personally known by lie (if; ===~18 ExpIrH ....1Il.r 1" 2IlOI EXHIBIT A TO BCC RESOLUTION " 16L5 '! ~ 2001-07 ---- RESOLUTION REGARDING THE OFFICIAL ACTION OF THE HOUSING FINANCE AUTHORITY OF COLLIER COUNTYI FLORIDA, RELATIVE TO THE ISSUANCE OF NOT TO EXCEED $8 1100,000 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; PROVIDING AN EFFECTIVE DATE. WHEREAS, Pinnacle Run I Ltd. the IICompanyll) has applied to the Housing Finance Authority of Collier Count'll Florida (the "Authority"), to (i) issue its tax-exempt multifamily housing revenue bonds in a principal amount not to exceed $8/100,000 (the "Bondsll) and such taxable multifamily housing revenue bonds (the "Taxable Bonds") as the Authority may authorize by subsequent resolution (the "Bond Resolutiontt) for the purpose of financing the acquisition, constructionl equipping and development 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 1591 Part IV, Florida Statutesl or such other provision or provisions of Florida law as the Authority may- determine advisable (the "Act") i 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 8,100,000 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 WHERBAS, the Authority held a public hearing on the proposed issuance of the Bonds for the purposes herein stated on October 11, 2001 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 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 C:\WlNDOWSlDoaktopIHOF...., 2002 MJIIlftchM:.......' Raol.,;"" PI.o.el. R....wpd EXHIBIT B TO Bee RESOLUTION 1615 . t 1 "J 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. 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 to be entered into subsequently, in one or more issues or series in an aggregate principal amount not to exceed $8,100,000 and such taxable multifamily housing revenue bonds (the "Taxable Bonds") as the Authority may authorize by subsequent resolution for the purpose of financing the Project. The Bonds shall be designated "Housing Finance Authority of Collier County Multifa.mily Housing Revenue Bonds Series 2001 (Pinnacle Run 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. 3. 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 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. 4. Affir.mative Action. This resolution is an affirmative action of the Authority toward the issuance of the Bonds, as contemplated in said Preliminary Agreement, in accorrl..n.I"!_.~~ the purposes of the laws of the State of Florida and the applicable United States Treasury Regulations. 5. Approval of Notice of Public Hearing. The form of notice of public hearing attached hereto as Exhibit nAil is hereby approved and the publishing thereof ratified by the Authority. C:\WINDOWS\DaklOpIHOFA- 200~ MF\Ina-monl RoooI\IIion Pinnacllllllll.wpcl -2- .....- 16L5 :~ ." ---- 6. 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. 7. L~ited 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. B. 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 11th day of October, 2001. ., , ........, :1, HOUSING FINANCE AUTHORITY OF COLLIER COUNTY, FLORIDA ) .' , ~ 4. . , '':,:.. . . .. ~ .~ i., " .( S~L);':: j ;..... " .... ATTEST: s{1;tr,~~ C:IWINDOWS\O<IkIOpIHOFA- 2002 MPllnduccmont Ilaolutillft Ph...""l. RWI.wpd -3-