Resolution 1993-119
MARCH 23, 1993
RESOLUTION NO. 93-119
A RESOLUTION AUTHORIZING A DRAW OF NOT TO
EXCEED $234,164 ON THE LINE OF CREDIT WITH SUN
BANK, NATIONAL ASSOCIATION, IN ORDER TO
FINANCE THE ACQUISITION OF CERTAIN COMPUTER
EQUIPMENT AND OTHER EQUIPMENT FOR THE BENEFIT
OF THE COLLIER COUNTY, FLCRIDA PUBLIC HEALTH
UNIT; AUTHORIZING THE ISSUANCE OF A NOTE OR
NOTES TO SECURE THE REPAYMENT OF SAID DRAW
PURSUANT TO WHICH THE COUNTY WILL AGREE TO USE
CERTAIN MONEYS RECEIVED FROM THE STATE OF
FLORIDA PUBLIC HEALTH UlIIT TRUST FUND TO PAY
SUCH NOTE OR NOTES; AUTHORIZING THE EXECUTION
AND DELIVERY OF OTHER DOCUMENTS IN CONNECTION
WITH SAID DRAW ON THE LINE OF CREDIT; AND
PROVIDING FOR AN EFFECTIVE DATE FOR THIS
RESOLUTION.
BB IT RESOLVED BY '1'1IE BOAIID OF COUNTY COllHISSIONERS OF COLLIER
COllJlTY, FLORIDA.
SECTION 1. A1lTIlORITY FOR '1'1IIS RESOLUTION. This Resolution
is adopted pursuant to the provisions of Chapter 125, Florida
statutes and other applicable provisions of law.
SECTION 2.
and declared:
FINDINGS. It is hereby ascertained, determined
(A) That the County has heretofore obtained a $25,000,000
line of credit (the "Line of Credit") from Sun Bank, National
Association (the "Bank"), the proceeds of which would be applied
to finance or refinance the costs of various capital projects in
the County.
(B) That there is presently a need to acquire certain
computer equipment and other equipment for the benefit of the
Collier County, Florida Public Health Unit (the "Health Unit"), as
more particularly described in Exhibit A attached hereto (the
"Series J Project").
(C) That the costs of the Series J Project in an amount not
to exceed $234,164 shall be financed or refintnced trom amounts
drawn on the Line of Credit.
(D) That amounts drawn on the Line of Credit to finance the
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MARCH 23, 1993
Series J Project shall be repaid solely from 'certain moneys
received from the State of Florida Public Health Unit Trust Fund
pursuant to Section 154a02, Florida Statutes a
SECTION 3. A1lTIlORIZATION OF '1'1IE SERIES J PROJECT. The
County does hereby authorize the acquisition and construction of
the Series J Project.
SECTIOII 4. A1lTIlORIZATIOII OF DRAII ON LINE OF CREDIT TO
FlXANCE OR REFlXANCB THE COST OF THE SERIES J PROJECT. The County
does hereby approve a draw on the Line of Credit in the aggregate
amount of not to exceed $234,164 for the purpose of providing the
County with sufficient funds to finance or refinance the costs of
the Series J projecta The Chairman (or Vice-Chairman in his
absence or unavailability) and the Clerk (or a Deputy Clerk in his
absence or unavailability) are hereby authorized to execute, seal
and deliver on behalf of the County a Note or Notes and other
documents, instruments, agreements and certificates necessary or
desirable to effectuate the draw on the Line of Credit as provided
in the Line of Credit Agreement, dated as of February 27, 1990, as
amended (the "Line of Credit Agreement"), between the County and
the Bank. The draw shall be made at such time as shall be
determined by the Clerk, or his designee. The Note securing the
draw for the Series J Project (the "Series J-1 Note") shall bear
interest at a Fixed Rate not to exceed eight percent (8\) per annum
(as defined in the Line of Credit Agreement) and shall have a Final
Maturity Date (as defined in the Line of Credit Agreement) of not
greater than five years and six months from the date of the Series
J-1 Note. Principal of the Series J-1 Note shall be repaid in
sixty substantially equal monthly payments.
SECTION 5. SECURITY FOR SERIES J-1 NOTE. The Series J-1
Note shall be secured in the manner provided therefore in the Line
of credit Agreement, provided, however, the County's covenant to
budget and appropriate legally available Non-Ad Valorem Revenues
contained in Section 2.06 of the Line of Credit Agreement shall n2t
be applicable to the Series J-1 Note. The County hereby covenants
to do all things necessary to ensure its receipt of funds from the
State of Florida Public Health Unit Trust Fund pursuant to Section
154.02, Florida Statutes, in an amount sufficient to make the
timely payments of principal and interest on the Series J-l Note.
The County further agrees to utilize such funds to pay the
principal of and interest on the Series J-1 Note, to the extent
permitted by applicable law.
SECTION 6. GENERAL A1lTIlORIZATION. The Chairman, Vice-
Chairman and Clerk of the Board and other emplvyees or agents of
the County are authorized to execute and deliver such documents,
instruments and contracts, and are hereby authorized and directed
to do all acts and things required hereby as may be necessary for
the full, punctual and complete performance of all the terms,
covenants, provisions and agreements herein contained, or as
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MARCH 23, 1993
otherwise may be necessary or desirable to effectuate the purpose
and intent of this Resolution.
SECTION 7. REFEAL OF INCOllSISTEN'I' DOCOHENTS. All
ordinances, resolutions or parts thereof in conflict herewith are
hereby superseded and repealed to the extent of such conflict.
SECTION 8. EFFECTIVE DATE. This Resolution shall take
effect immediately upon its adoption.
ADOFUD this ~ day of ~A/'./ /
F COUNTY COKKISSIONERS
COUNTY, LORIDA
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Approved as to torm and
legal sufficiency:
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County Attorney
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MARCH 23, 1993
EXHIBIT A
SBRIES J PROJBCT
Computer and other equipment for the Collier County Health Unit.
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