Resolution 1997-330RESOLUTION 97-330
A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF
COLLIER COUNTY, FLORIDA, PURSUANT TO CHAPTER 159, FLORIDA
STATUTES, AS AMENDED; AUTHORIZING T~E COLLIER COUNTY
INDUSTRIAL DEVELOPMENT AUTHORITY TO MAKE A LOAN TO NAPLES
COMMUNITY HOSPITAL, INC. IN AN AGGREGATE PRINCIPAL AMOUNT
NOT TO EXCEED $15,000,000 FOR THE PURPOSE OF FINANCING
THE PURCHASE OF CERTAIN EQUIPMENT; AUTHORIZING THE
AUTHORITY TO ENTER INTO A MASTER FINANCING AGREEMENT
AMONG THE COLLIER COUNTY INDUSTRIAL DEVELOPMENT AUTNORITY
AS ISSUER, G.E. CAPITAL PUBLIC FINANCE, INC. AS LENDER,
AND NAPLES COMMUNITY HOSPITAL, INC. AS OBLIGOR; PROVIDING
AN EFFECTIVE DATE.
BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF COLLIER
COUNTY, FLORIDA:
Section 1. Recitals.
determined and declared that:
It is hereby found, ascertained,
A. The Collier County Industrial Development Authority (the
"Issuer") is a public corporation of the State of Florida, was duly
created by Resolution R-79-34 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 financing qualifying projects in
Collier County, Florida (the 'County"), under and by virtue of
Chapter 159, Florida Statutes (the 'Act"), to provide for the
making of, and to issue and sell its obligations for lawful
purposes under the Act.
B. The Issuer has submitted to the Board of County
Commissioners a form of Master Financing Agreement (the
'Agreement"), attached hereto as Exhibit A, with respect to the
making by it of a Loan to Naples Community Hospital, Inc. for the
purchase of certain medical and other equipment to be used by the
Hospital in its health care operations.
C. A public hearing was held on August 19, 1997, which
public hearing was duly conducted upon reasonable public notice, a
copy of said notice being attached hereto as Exhibit B, and at such
hearing interested individuals were afforded the opportunity to
9 A
express their views, both orally and in writing, on all matters
pertaining to the nature of the proposed project and to the making
of the Loan. No person spoke or wrote in opposition to the project
or the making of the Loan.
D. The Issuer has recommended and requested that the Board
of County Commissioners approve the Master Financing Agreement and
the making of the Loan so that the interest on the Loan will be
exempt from federal income taxation under the Internal Revenue Code
,~f 1986, as amended.
E. The purpose of the act will be effectively served, and it
is necessary and desirable and in the best interest of the County
that the making of the Loan be approved by the Board of County
Commissioners.
F. The Loan shall not constitute a debt or a pledge of the
faith and credit of the Issuer or the County, or any agency
thereof, and neither the Issuer, the County, nor any agency thereof
shall be liable thereon; nor in any event shall the Loan be payable
out of any funds or properties other than as provided in the Master
Financing Agreement. No member of the Board of County
Commissioners or any officer thereof shall be liable personally on
the Loan.
G. The Board of County Commissioners is the elected
legislative body of Collier County, Florida for the purposes of
Section 147(f) of the Internal Revenue Code of 1986, as amended.
Section 2. Approval of ]~akimg the Loan. For the purposes
of Section 147 (f) of the Internal Revenue Code of 1986, as
amended, the making of the Loan as contemplated by the Master
Financing Agreement in an amount not to exceed $15,000,000 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 and all concurrency requirements contained therein
and the Collier County Land Development Code.
Section 3. Effective Datm. This Resolution shall take
effect immediately upon its adoption.
PASSED AND ADOPTED THIS ~day of ~~__~___, 1997.
(SEAL)
ATTEST:
Dwight E. Brock, Clerk
''
Approved as to
form
And legal sufficiency:
County Attorney
COLLIER COUNTY, FLORIDA
Timothy/L. - Hancock,
Chairman, Board of
County Commissioners