Resolution 2011-036
RESOLUTION NO. 11-l6
A RESOLUTION OF THE BOARD OF
COUNTY COMMISSIONERS OF COLLIER COUNTY,
FLORIDA, CONCURRING WITH THE
DETERMINATION OF THE SOUTHWEST FLORIDA
EXPRESSWAY AUTHORITY TO DISCONTINUE ITS
OPERATIONS AND UNDERTAKE THE PROCESS
TO DISSOLVE AS AN AUTHORITY;
ACKNOWLEDGING THE INTENTIONS OF THE
AUTHORITY REGARDING THE DISBURSEMENT
OF THE REMAINING PROCEEDS OF LOANS MADE
BY THE FLORIDA DEPARTMENT OF
TRANSPORTATION AND COLLIER AND LEE
COUNTIES TO THE AUTHORITV; ESTABLISHING
AN EFFECTIVE DATE.
WHEREAS, the Board of County Commissioners (the "Board"), previOUSly
authorized the establishment of the Southwest Florida Expressway Authority (the
"Authority") to pursue the addition of toll road facilities to Interstate 75 (the "Project"); and
WHEREAS, the Authority has reported to the Board that due to the recent economic
downtum, the Authority does not believe that the Project is currently viable; and
WHEREAS, the Authority has no source of funding to repay loans made to the
Authority by the Florida Department of Transportation (the "Department"), Collier County,
Florida and Lee County, Florida to pursue the Project; and
WHEREAS, the Authority has recently obtained a resolution of the loans from the
Department and now seeks to obtain the acknowledgement, consent and agreement of
-----------Collicr-County to: (a) discontinue tho Authority's operations and purst.lit of the Project; (b}- nn___n
take such steps and expend such reasonable amounts on deposit in its accounts (including
remaining loan proceeds from Collier County) and available for such purposes to close its
books and records, retum any unspent proceeds of loans to the Department and to Collier
and Lee Counties and dissolve itself as a governmental entity; and
NOW, THEREFORE, be it resolved by the Board of County Commissioners that:
The Board does hereby acknowledge and agree with the Authority that the
Project is not currently viable and does hereby consent to the Authority: (a)
discontinuing its operations and pursuit of the Project: (b) taking such steps
and expending such reasonable amounts on deposit in its accounts (including
remaining loan proceeds from Collier County) and available for such
purposes to close its books and records, return any unspent proceeds of
loans to the Department and to Collier and Lee Counties (on a pro-rata basis)
and dissolve itself as a governmental entity.
A
THIS RESOLUTION ADOPTED after motion; second and majority vote this .J.;t ....
day of -.-t-t\oY'Lt4VY ,2011.
ATTEST:
DWIGHT E.SROCK, Clerk
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BOARD OF COUNTY COMMISSIONERS
COLLIER COUNTY, FLORIDA
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BY: ~W. ~
Fred W. Coyle, CHAIRMAN
Approved as to form and legal sufficiency:
By: ~~ II Q j~~k
S t:#i If R.. -R-u. J....
,^uiatant County Attorney
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