Agenda 11/01/2006 S
COLLIER COUNTY
BOARD OF COUNTY COMMISSIONERS
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Board of County Commissioners
SPECIAL MEETING
AGENDA
November 1, 2006
1 :00 p.m.
Frank Halas, Chairman, District 2
Jim Coletta, Vice-Chairman, District 5
Tom Henning, Commissioner, District 3
Donna Fiala, Commissioner, District 1
Fred W. Coyle, Commissioner, District 4
NOTICE: ALL PERSONS WISHING TO SPEAK ON ANY AGENDA ITEM
MUST REGISTER PRIOR TO SPEAKING. SPEAKERS MUST REGISTER
WITH THE COUNTY MANAGER PRIOR TO THE PRESENT A TION OF
THE AGENDA ITEM TO BE ADDRESSED.
COLLIER COUNTY ORDINANCE NO. 2004-05, AS AMENDED REQUIRES
THAT ALL LOBBYISTS SHALL, BEFORE ENGAGING IN ANY LOBBYING
ACTIVITIES (INCLUDING, BUT NOT LIMITED TO, ADDRESSING THE
BOARD OF COUNTY COMMISSIONERS), REGISTER WITH THE CLERK
TO THE BOARD AT THE BOARD MINUTES AND RECORDS
DEPARTMENT.
REQUESTS TO ADDRESS THE BOARD ON SUBJECTS WHICH ARE NOT
ON THIS AGENDA MUST BE SUBMITTED IN WRITING WITH
EXPLANATION TO THE COUNTY MANAGER AT LEAST 13 DAYS PRIOR
TO THE DATE OF THE MEETING AND WILL BE HEARD UNDER "PUBLIC
PETITIONS."
ANY PERSON WHO DECIDES TO APPEAL A DECISION OF THIS BOARD
WILL NEED A RECORD OF THE PROCEEDINGS PERTAINING THERETO,
AND THEREFORE MAY NEED TO ENSURE THAT A VERBATIM RECORD
Page 1
November 1,2006
OF THE PROCEEDINGS IS MADE, WHICH RECORD INCLUDES THE
TESTIMONY AND EVIDENCE UPON WHICH THE APPEAL IS TO BE BASED.
ALL REGISTERED PUBLIC SPEAKERS WILL RECEIVE UP TO FIVE (5)
MINUTES UNLESS THE TIME IS ADJUSTED BY THE CHAIRMAN.
IF YOU ARE A PERSON WITH A DISABILITY WHO NEEDS ANY
ACCOMMODATION IN ORDER TO PARTICIPATE IN THIS PROCEEDING,
YOU ARE ENTITLED, AT NO COST TO YOU, TO THE PROVISION OF
CERTAIN ASSISTANCE. PLEASE CONTACT THE COLLIER COUNTY
FACILITIES MANAGEMENT DEPARTMENT LOCATED AT 3301 EAST
TAMIAMI TRAIL, NAPLES, FLORIDA, 34112, (239) 774-8380; ASSISTED
LISTENING DEVICES FOR THE HEARING IMP AIRED ARE AVAILABLE IN
THE COUNTY COMMISSIONERS' OFFICE.
1. PLEDGE OF ALLEGIANCE
2. THE BOARD TO CONSIDER RECOMMENDATION TO APPROVE A
BUDGET AMENDMENT FROM RESERVES WITHIN THE PINE
RIDGE/NAPLES PRODUCTION PARK DEBT SERVICE FUND TO
APPROPRIATE THE ANNUAL PRINCIPAL AND INTEREST PAYMENTS
AND ARBITRAGE CALCULATION FEES ON OUTSTANDING SPECIAL
ASSESSMENT REVENUE BONDS.
3. ADJOURN
INQUIRIES CONCERNING CHANGES TO THE BOARD'S AGENDA SHOULD
BE MADE TO THE COUNTY MANAGER'S OFFICE AT 774-8383.
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November 1,2006
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EXECUTIVE SUMMARY
Recommendation to Approve a Budget Amendment from Reserves within the Pine Ridge/Naples
Production Park Debt Service Fund to Appropriate the Annual Principal and Interest Payments and
Arbitrage Calculation Fees on Outstanding Special Assessment Revenue Bonds
OBJECTIVE: To establish budget appropriations for debt service related expenses associated with
outstanding special assessment revenue bonds for the Pine Ridge/Naples Production Park.
CONSIDERATIONS: Special assessment revenue bonds, Series 1993, were issued in the aggregate amount
of $17,335,000 for roadway and drainage improvements within the Pine Ridge Industrial Park and the Naples
Production Park. The revenues supporting this bond issue are special assessments levied against benefiting
properties. The final maturity date on these bonds is October 1,2013.
Staff in the Clerk of Courts Finance Department typically prepares the debt service budgets, with input and
review by OMB staff. The Clerk's Finance Department administers the debt service budgets and makes
disbursements (payments of principal and interest on outstanding bonds, as well as fiscal agent fees) to various
financial institutions in accordance with the covenants of each respective bond issue.
The budget forecast in FY 06 anticipated paying off the entire principal and interest outstanding on the special
assessment revenue bonds for the Pine Ridge/Naples Production Park. As such, no principal or interest
payments were budgeted within this fund in FY 07. There is sufficient cash available (due to assessment pre-
payments, interest earnings, and unspent bond proceeds) within the Pine Ridge/Naples Production Park Debt
Service Fund (232) to retire all outstanding debt associated with this special assessment revenue bond.
However, there are other issues such as alternative uses of surplus funds including additional improvements
within the industrial parks, refunds, as well as collection of remaining special assessments outstanding.
A principal payment of $765,000 and an interest payment of$166,719.37 are due on November 1,2006. As
there is not an FY 07 budget appropriation for debt service at this time, the Clerk of Courts will not make the
requisite payment. This Executive Summary is of a 'housekeeping" nature as available reserves within this
debt service fund will be accessed to establish budget appropriations for the debt service payments, as well as
the arbitrage calculations.
GROWTH MANAGEMENT IMPACT: There is no Growth Management Impact associated with this
Executive Summary.
FISCAL IMPACT: A budget amendment of $1,172,500 is necessary to fund FY 07 principal- $765,000,
interest (rounded) - $400,000, and arbitrage calculation fees - $7,500. Funds are available within reserves for
debt service within the Pine Ridge/Naples Production Park debt service fund.
RECOMMENDATION: That the Board of County Commissioners:
1. Approves a $1,172,500 budget amendment establishing budget appropriations for principal, interest,
and arbitrage calculation fees; and
2. Authorizes staff to payoff the outstanding principal and interest on this bond issue in its entirety, and
approve all associated budget amendments thereto.
Prepared by: Michael Smykowski, OMB Director
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mudd.J
From:
Sent:
To:
Subject:
ArnoldSandra
Tuesday, October 31. 2006 5:29 PM
TorreJohn
Collier County government - news release (1)
Attachments:
1031 BCC2.doc
Collier County Government
Communication &
Customer Relations Department
3301 East Tamiami Trail
Naples, FL 34112
Oct. 31, 2006
Contact: Sandra Arnold-Lawson
Public Information Coordinator
(239) 774-8308
FOR IMMEDIATE RELEASE
NOTICE OF PUBLIC MEETING
BOARD OF COUNTY COMMISSIONERS
SPECIAL MEETING
COLLIER COUNTY, FLORIDA
WEDNESDA V, NOVEMBER 1, 2006
1 P.M.
Notice is hereby given that the Collier County Board of County Commissioners will hold a special meeting
Wednesday, Nov. 1 at 1 p.m. in the Board of County Commissioners chambers, located on the third floor of the
W. Harmon Turner Building, Building F, Collier County Government Center, 3301 E. Tamiami Trail, NapleS.
In regard to the public meeting, the Board will consider approving a budget amendment authorizing a debt
service payment in the Pine Ridge/Naples Production Park Debt Service Fund.
All interested parties are invited to attend, to register to speak and to submit their objections, if any, in writing,
to the Board prior to the meeting. All registered public speakers will be limited to three minutes unless
permission for additional time is granted by the Chairman.
Any person who decides to appeal a decision of the Board of County Commissioners or quasi-judicial board
will need a record of the proceedings pertaining thereto, and therefore, may need to ensure that a verbatim
record of the proceedings is made, which record includes the testimony and evidence upon which the appeal is
to be based.
Collier County Ordinance No. 2004-05 requires that a1llobbyists shall, before engaging in any lobbying
activities (including, but not limited to, addressing the Board of County Commissioners, an advisory board or
quasi-judicial board), register with the Clerk to the Board at the Board Minutes and Records Department.
Residents interested in reviewing the agenda for this meeting can view the full document on Channel 11 '
(Comcast and Marco Island Cable) and Channel 16 (Time Warner) at 9 a.m., 5 and 10 p.m. on the Friday, I
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Saturday, Sunday and Monday prior to the scheduled meeting. The agenda is also available on the Collier
County government Web site at www.colliergov.netlbcclboardagenda.cfrn. For those who do not have access to
Channel 11/16 or the Internet, the agenda is available at all Collier County library branches.
If you are a person with a disability who needs any accommodation in order to participate in this proceeding,
you are entitled, at no cost to you, to the provision of certain assistance. Please contact the Collier County
Facilities Management Department located at 3301 E. Tamiami Trail, Naples, FL 34112, (239) 774-8380;
assisted listening devices for the hearing impaired are available in the Board of County Commissioners Office.
For more information, call the County Manager's Office at 774-8383.
-End-
Sandra Arnold, APR
Public Information Coordinator
Communication & Customer Relations Dept.
SandraAmold@colliergov.net
TeL (239) 774-8308
Fax (239) 774-8588
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