Resolution 1999-409
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ItESOl.UTIOi"> i">0. 99-409
A RESOLUTION OF TilE BOARD OF COUNTY
COMMISSIONERS OF COLLIER COUNTY, FLORIDA.
AUTIIORIZING TilE BORROWING OF NOT EXCEEDIl'iG
53,0(,0,000 FROM TilE POOLED COMMERCIAL PAPER
LOAN PROGRAM OF TilE FLORIDA LOCAL
(iOVERNMENT FINANCE COMMISSION PURSUANT TO
TilE TERMS OF TIlE LOAN AGREEMENT BETWEEN TilE
COMMISSION AND TilE COUNTY IN ORDER TO
FINANCE THE ACQUISITION, CONSTRUCTION Ai'\)
EC)UIPPING OF A DOMESTIC ANIMAL SERVICES
FACILITY; MJTlIORIZING TilE EXECUTION OF A LOA:\
:-':OTE OR NOTES TO EVIDENCE SUCII BORROWING:
A(iREEING TO SECURE SUCII LOAN NOTE OR NOTES
WITII A COVENANT TO BUDGET AND APPIWPRIATE
LHiA!.LY AVAILAlJl.E NO;-";.AIl VALORI':M REVENUES
AS PROVIDED IN THE LOAN AGREEMENT;
AUTHORIZING THE EXECUTION AND DELIVERY OF
St:C'lI OTHER DOCUMENTS AS MAY BE NECESSARY
TO EFFECT SUCH BORROWING; AND PROVIDING A:-':
EFFECTIVE DATE,
liE IT ItESOLVEI> IIY TilE 1I0AIU> OF COlJ:'iTY ('O~I~IISSIOi">ERS OF
COLLIER ('()l:;'IlT\'. FI.OJUDA:
SECTIOi'l 1.1>t:FIi">ITI0i'iS. Unless Ihe wntext or use indicates ;mothcr meanin~
or intent, the Collowin~ words and tenns as lIsed in this Resolution shalllHl\e the followin1!
meanin~s, Capilali/ed terms not ddined herein shall ha"e the 111\'anin~s as..:rihed th..:r..:lo in
the hereinai'ler delined Loan Agreement.
"Acl" means. ..:olle..:ti\'dy. Part I. ('h"pler \25. Florid" St"lutes, Pal1 I. Chapter 1(,,\,
1:lorid" Statutes, "nd alllllher applicahle prn\'isi.)ns of la\\',
"Addilitll1\lI l'lIymcnls" means the pa)'ments n:quired to he made hy the County
pursuant to Sections 5.1)2(11), 5.02(e). 5.t)2(d). 5,n5 and (,.O(,(e) oCthl'Loan Agreement.
"Uo;lrd" means Ihe Board orCoullt)' Commissioners or the Counly.
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"Chairman" mcans thc Chainmm or Vicc Chairm,m of thc Bmml. and such othcr
pcrson llS may bc duly lluthorizcd 10 aCI on his or hcr bchalf.
"C1crk" means thc Clerk oflhc Cireuil Court for thc County, cx-officio Clcrk orthc
Board. and such other person as may bc duly authorizcd to aCI on his or hcr bchalf.
"Commission" means Ihe Florida Local Governmcnt Finance Commission. and any
llssigns or successors therelO.
"County" me,IIlS Collier County, Florida, a polilical subdivision of lhe State nf
Florida,
"County Adllllnislrator" me,IIlS Ihe County Administrator of lhe County llnd such
othcr person liS may be duly lluthorized IOllet on his (If her bclmlf.
"Dcsignalcd I{cnnucs" mellllS (I) Puhlie Agency Moneys budgeted and
appropriated for purposes of payment of the Loan Repayments and any other amounts due
under the Loan Agrecment, and (2) the proceeds of the Loan pendin~ the application thereof.
"Dr:l\\' Datc" has the mC(lIling set forth inlhe Loan Agreement.
"Finance l>ircclor" means the Dire..:tor of Finance and Accounting llnd sueh other
person as may be duly aUlhori/ed IOllet on his or her bchalf,
"Loa n No. A-12-1 " means thc Loan designllted as "LO(1Il 1'0, A-12-)" the proceeds
of which llre 10 be used 10 linllnec Projecl A-12.
"l.lH\II" means the Imll1lo be m.\de by thc Commission to the County from proceeds
of the Series A Noles in llceordanee with thc lernlS of this Resolulion and of lhe Loan
Agreement.
"Loan AgrccllIcnl" means the Loan Agreement, dllted as of April 12. 1991. between
thc County and the COll1mission. llS amcnded and supplemented and llS the same may be
further llmended and supple men led,
"Loan Italc" 11(Is the meaning set forth inlhe l.oan Agreemcnt.
"LOlln RepaYlllenls" or "RcpaYlllcllls" means the payments of principal and
interest at the Loan Rate on the Loan amounts paYllble by the County pursuanl 10 the
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provisions of thc Lo.m Agre.:mcnl and all othcr paymcnts, including Addition.11 Payments,
payablc by thc County pursuanllo thc provisions of Ihc Loan Agreement.
"Non-,\d Valorcm Itcvcnucs" means alllcgally available rcvcnucs of the County
dcrivcd from any source whalsocvcr other Ihan ad valorcm tax.llion on rcal and pcrsonal
propcrty. which are legally availablc to makc thc Loan Rcpaymcnts required in the Loan
Agrcement, bul only aCler provision has hecn lllUdc by thc County for the payment of scrvices
and programs which arc for esscntial public purposcs affecting the hl'alth, well:lre and safety
of the inhabitants of the County or which arc Icgally mandated by appli..:able law.
"Program" means the Pooled ConlmercialPaper l.oan Pw[:ram established by the
Commission.
"I'rojcct A-12" l11eans the costs and e.~pensl's relating 10 lhc acquisil ion, constnletion
and equippin[: of a domestic al,jnml services facility. as thc same may be amended or
modi lied from lime to time, all as more particularly described in the plans and spc..:itications
on liIe with thc County.
"Public Agcncy ;\Ioncys" shall mean Ihc moneys budgcted and appropriated hy the
Counly for payment of the l.mlll Repaymcnts and .my other amounts dllC hereunder from
Non-Ad Valorem Rc\'enues pursuant 10 the County's covcnanl to hudget and appropriate
such Non-Ad Valorem Revenues contained in Section 6.04 of Ihe Loan Agrl'emenl.
"I{csolulllln" means this Resolution. as thc same may from time to time be amcnded,
modi Iicd or supplcmented.
"Scrics'\ :'\lltcs" means the Commission's Pooled COll1mercialPaper "otes. Series
A (Govcnlmentallssue). to bc issued from time to time hy Ihe Commission.
The [erms "herein." "hercunder," "hereby," "hereto," "hereo!'." and ;IIlY similar terms.
shall refer to this Resolution; the term "herelllf.,re" shall mean belilJ'e lhe date of adoption
of this Resolution; and the term "hereafter" shall mean after the date of adoption of lhis
Resolution.
Words importing the masculine gender includ.: eVery other gend..:r.
Words importing the singuhlr number include lhe plural number. and vice versa,
SECTIOi"> 2.AlJTIIORITY FOR IU:SOLUTION. This Resolution is adoptcd
pursuant to the provisions of thc Act.
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SECTION 3.FINJ>li">GS. It is hereby asccrtained, dctermined and declared tlmt:
(A) The Commission has been established for thc principal purposc of issuing
commercial papcr notcs in ordcr 10 providc funds 10 loan 10 public agencics. such as lhc
County. desiring to finance and refinan..:e thc cost of acquiring, constructing and cquipping
capital improvements and to finance and rcfinance othcr governmcntal needs.
(13) In furtherance of the foregoing, thc Commission shall issuc. from limc to lime,
commcrcial paper noles to be known as "Florida Local Government Finance Commission
Pooled CommcrcialP<lper NOles. Scries A (Govcrnmcntal Issuc)" and shall loan the procceds
of such Scrics A Noles 10 public agencies. including Ihe County,
(e) Pursuant to the nuthority of the ACl.the Commission has agrecd to loan, from
lime 10 timc. 10 the County such mllounls <IS shull be aUlhori/ed herein <lnd in the Loan
Agreement in ordcr to enahle thc County to finance. reimburse or relin;lncc thc cost of
<lcquisilion, conslruclion and equipping of capital improvcmcnls,
(D) Thcre is prescntly a nccd by thc county to financc Project A.12 and Ihc most
cost-cffcctive means hy which 10 financc Projcct A.12 is by the use of moncys obtaincd
pursuant to lhe Progr;lm by mcans of lhe Loan.
(E) The County hereby determincs that the provision of funds by the Commission
10 the Counly inlhe form of Loan No. A-12.1 pursu;lnt to the Icnns ofthc Loun Agreemcnt
und lhc financing of Project A.12 will assisl in thc dcvelopmcnt and maintenance of lhc
public welfare ofthc residents of the County, and shall servc n public purpose by improving
the health and living conditions. nnd providing governmenl<ll serviecs, facilities and
programs ;lnd will promolc the mosl ef(icient and cconomieal dcvelopml'nt of such services,
r.lcilities and programs.
(G) LO;ln No, A.12-1 shall he rcpaid solely from Ihe Designated Re\'enues, Such
Designuled Revcnucs shall include moneys derived from ;I covenant to budgct and
;lppropri;lle legally aV;lilublc Non-Ad Valorem Revcnues. Thc ad \'aloremtaxing power of
thc County will never be neel'ssary or authori/ed to make the I.oan!kpayments,
SEeTIO:\' 4.TER~IS OF LOA:'iS. The County hcrcby .Ipl'roves of I .o;ln No, A.12-
I in thc aggrcgate umount or not excecding 53.0()O,OOO for lhe purpose of providing th..:
County with suf(icient funds to finance Projcct A-12. Thc Chairman and the Clerk arc
hcrcby <luthori/cd to e.\ecutc, seal and dclh'er on bchalf of Ihc County a Loan NOlc or NOlcs
with respe":l to I.oan :\", ..\-12-1 and othcr documents, instrum..:nts, agreemcnts and
ccrti licutcs ncccssary or desirablc to effectuatc Loan No. 1\-12.] .IS providcd in thc LO<ln
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Agrccmcnt. Thc Loan Notc or Nolcs with rcspcctto Loan No. A-12-1 shall reflcct thc tcrms
of such Loan und shull bc substantially in thc form allachcd to thc Loan Agrcemcnt as
Exhibit l. Thc Financc Director shall makc Ihc Draw Rcquest or Rcqucsls Wilh rcspcct to
Loan No. A-12-1 in accordance wilh Ihc Icnns of Ihc Loan Agrcement al such timc as shall
be detcrmincd by thc Finunce Director as ;lppropriatc to fin;lncc Projcct A-12 and is
pcnnitted by thc Loan Agrecmcnt. Loan No, A-12-1 shall mature in <1cconlance with thc
provisions dcscrihcd in Schcdulc I attachcd hcreto. Loan No. A-12-1 shall bear inlerest ;It
the Loan Rate in accordancc with the tern1, of the l.oan Agrccment. Thc County furthcr
agrccs to makc all 1.0.111 Rcpaymcnts rcquired of il pursuant to thc terms of thc Loan
Agrecmcnt. Thc Letter of Crcdit fccs for l.oan ;-";0. A-12-1 shall bc 30 basis points or such
othcr amount as First ljnion National Bank mHlthe Financc Direclor shall agrec,
SEeTIO:'i ~.AUTII()IUZATIO;\ OF I'RO./ECT A-12. '1 he ('ounly docs hereby
authori/c thc acquisition and constnlelion of Project A-12,
SECTIO;\ 6.SEClJIUTY FOR TilE LOAi'l. The County's obligation to rcpay
Loan No. A-12-1 will hc sccurcd by a plcdge of und licn upon lhc Designatcd Revenucs in
accord.lIlce with the tcrms of lhc Loan Agrecmcnt. Thc obligation of thc County to repay
Loan No. A-12-1 shall not be deemed u plcdgc oflhc Hlith and crcdit or laxing power or the
('ounty and such obligation shall nol crc;lte u lien on any propcrly wlmlsocvcr of or in thc
COllnly othcr lhanlhe Designated Rcvenues.
SECTION 7.GE:'iERAL AUTIIOIUTY. Thc mcmbcrs of thc Board and the
ofliccrs, attorncys ;lnd othcr agcnts or employees ofthc County are herehy authori/cd to do
;III acts and things required ofthcm by this Resolution and thc Loan Agrecmcnt, or l\csirablc
or consistcnt with the requircmcnts of this Resolution and thc l.oan Agrccment, I'm the full
punctual and completc perfornl;1ncc of all the tenns, covcn;lnts und agreements contained in
this Rcsolution ;lnd thc Loan Agreemcnt. und cach mcmhcr, cmployce, attorncy ;lnd oflicer
of the ('ounty or its Board is hercby authori/ed und dirceled 10 cxecute and deliver any and
all papers and instrul11ents ,lIld to do and eause to be done any and all ucts ;lnd thinp
nccessary or proper filr ..:arryin~ mlt thc transaclions contemplaled by this Resolution and the
1.0an Agrccment.
SECTIO:"l K.SEVERABILlTY. Ir,lI1Y onc or more ofthc eovcnants, agrecments
or provisions hcrcin contained sh;lll he held contrary to any cxprcss provision of law or
contrary to thc policy of cxprcss law, lhough not cxprcssly prohibited, or ag;linst public
policy. or shall for any rcason whalsocvcr bc held invalid, Ihcn sueh eovcnants, agreemcnts
or provisions shall be null and void and slmll be deemed separable from Ihe rcmaining
covcnants, agrecmcnts or provisions and shall in no way affcct the validity of any ofthc other
provisions hercof.
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SECTION 9.REPEAL OF INCONSISTENT RESOLUTIONS. All rcsolutions
or parts Ihcrcof in cOllmcl hcrewith arc hcrcby supcrscdcd and rcpealed to thc cxtent of stich
connic!. ' "
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SECTION 10.' EFFECTIVE llATE. This Rcsolution shall takc effect
.; "w,;~m~cdi8~i' upon ils Ud.;pon>
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DULY ADOPTlW this 9th day of Novcmhcr, 1999.
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BOARD OF COUNTY COMl\IISSIONERS
OF COLLIER COUNTY. FLORIDA
(SEAL)
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SCHEDULE I
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PROPOSED LOAN REPAYMENT SCHEDULE
Thc principal of Loan No. A-12-1 shall bc rcpaid as follows:
Dcccmbcr 7, 2004
$3,060,000
(or such othcr principal amount
as is actually borrowcd)
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Inlcrcst on thc Loan shall bc paid monlhly in accordancc wilh thc tcnns and
provisions oflhc Loan Agrccmcnt. Additional Paymcnls shall also be madc in accordancc
with thc Loan Agrccmcnt.
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