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Home My WebLink About03-260 ~ RESOLUTION NO. 03~60 A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF ST. LUCIE COUNTY, FLORIDA APPROVING FOR THE PURPOSES OF SECTION 147(1) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED, THE ISSUANCE OF NOT TO EXCEED $2,000,000 OF INDUSTRIAL DEVELOPMENT REVENUE BONDS BY FLORIDA DEVELOPMENT FINANCE CORPORATION TO FINANCE A MANUFACTURING FACILITY WITHIN ST. LUCIE COUNTY; AND PROVIDING AN EFFECTIVE DATE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF ST. LUCIE COUNTY (THE "BOARD"), FLORIDA: Section 1. declared: Findings and Recitals. It is hereby found, ascertained, determined and A. Florida Development Finance Corporation (the "Issuer") was created by the Florida Development Finance Corporation Act, Chapter 288, Part IX, Florida Statutes (the "Act"), which provides, in part that the Issuer may issue revenue bonds to finance projects in St. Lucie County (the "County"), for the benefit of approved Florida businesses to enhance the economic development of the State of Florida, provided that the Issuer has entered into an interlocal agreement with the local governmental agency in which the project will be located; B. The Issuer and the County have previously entered into an interlocal agreement pursuant to the Act and the Florida Interlocal Cooperation Act of 1969, as amended (to the extent that the exercise of such powers is consistent with the purposes of the Act) to permit the Issuer to issue revenue bonds to finance projects located within the jurisdictional limits of the County; C. The Issuer intends to issue revenue bonds in an amount not to exceed $2,000,000 to finance a manufacturing project for the benefit of Cabinet Connection of the Treasure Coast, Inc., (the "Company"), which project will be located at the following address in the County, 740 NW Enterprise Drive, Port St. Lucie, to be operated by the Company (or a subsidiary thereof)(the "Project"); D. The Internal Revenue Code of 1986, as amended (the "Code"), requires that the Board as the highest elected body of the County, approve the issuance of the bonds by the Issuer after a public hearing has been conducted by the Issuer; E. The Issuer conducted a public hearing within the County on August 8, 2003; notice of such hearing, as evidenced by the attached Exhibit "A," was given in the form and manner required by law and interested individuals were afforded reasonable opportunity to express their views both orally and in writing, on all matters pertaining to the proposed project and the proposed issue of bonds; (OR486025;ll - ~ .l F. The minutes of the public hearing held by the Issuer, containing all comments and concerns, expressed orally and in writing, are attached hereto as Exhibit "B;" and G. It is desirable and in the best interest of the County that the proposed bonds be approved by the Board. Section 2. Approval of Bonds. Solely for the purposes of Section 147 (f) of the Code, the Board hereby approves the issuance of the proposed bonds by the Issuer and the use of the proceeds to finance the proposed Project in the County. Section 3. Limitation. The bonds approved hereunder and the interest thereon shall not constitute an indebtedness or pledge of the general credit or taxing power of the County, the State of Florida or any political subdivision or agency thereof but shall be payable solely from the revenue pledged therefor pursuant to a loan agreement and/or other financing agreement entered into by the Issuer prior to or contemporaneously with the issuance of the bonds. The approval given herein is solely for the purposes of Section 147(f) of the Code and shall not be construed as an approval of any zoning application or any regulatory permit required in connection with such Project nor creating any vested rights with respect to any land use regulations, and this Board shall not be construed by virtue of its adoption of this Resolution to have waived, or be estopped from asserting, any authority or responsibilities it may have in that regard. Section 4. Repealing Clause. All restrictions or resolutions or portions thereof in conflict herewith are, to the extent of such conflict, hereby superseded and repealed. Section 5. adoption. Effective Date. This resolution shall take effect immediately upon its Upon motion by Conm. Paula Lewis and seconded by Comm. John Bruhn , the forgoing resolution was passed by the following vote on this 7th day of October , 2003. [APPROVED AS TO FORM BOARD OF COUNTY COMMISSIONERS OF ST. LUCIE :OUN?7 ._ By: Name: ('1 iff Rrlrnp!,: Title: . Chainnan. BOCC (SEAL) Daniel S. McIntvre, County Attorney Office of the County Attorney, Sf: T,llrip County, Florida ] "...- .. ~#'i!J {OR486025;1} 2 .' r:~ .., Florida Development Finance Corporation Extract from Report of Public Hearing EXTRACT from the report ofthe Public Hearing held at the offices of Economic Development Council- St. Lucie County, 540 North California Blvd., Port St. Lucie on August 8, 2003 at 11 :00 a.m. regarding the proposed issuance by the Corporation of its Industrial Development Revenue Bonds for Cabinet Connection of the Treasure Coast, Inc. Present on behalf of the Florida Development Finance Corporation was Louis Laubscher, Executive Director of the corporation. Also present were Gary Guterl and Kenneth Branco officers of Cabinet Connection of the Treasure Coast, Inc, and Don Root, Managing Officer of Economic Development Council. Mr. Laubscher announced that public notice of the hearing was given according to statutory requirement of the Internal Revenue Code #147(f). No objection to the project was made by any person either at the hearing or by written communication prior to the hearing. The project was found to be an eligible project pursuant to the Florida Development Finance Corporation Act of 1993, as amended, and to have met applicable criteria. For this reason and for economic benefits that will accrue to the community, the Florida Development Finance Corporation recommends approval of the Project by the Board of County Commissioners ofSt. Lucie County and the Governor of Florida. ! # SCRIPPS TREASURE COAST NEWSPAPERS . Fort Pierce Tribune Port St. Lucie Tribune 600 Edwards Road, Fort Pierce, FL 34982 AFFIDAVIT OF PUBLICATION SCRIPPS HOWARD STATE OF FLORIDA COUNTY OF ST. LUCIE Before the undersigned authority personally appeared, S. Darlene Mailing, who on oath says that she is Classified Inside Sales Manager of the Fort Pierce Tribune and the Port St. Lucie Tribune, a daily newspaper published at Fort Pierce in 51. Lucie County, Florida: that the attached copy of advertisement was publshed in the Fort Pierce/Port SI. Lucie Tribune in the following issues below. Affiant further says that the said Fort PierceIPort 51. Lucie Tribune is a newspaper published in Fort Pierce in said 5t. Lucie County, Florida, and that said newspaper has heretofore been continuously published in said SI. Lucie County, Florida, daily and distrbuted in SI. Lucie County, Florida. for a period or one year next preceding the first publication of the attacl1ed copy of advertisement; and affiant further says that she has neither paid or promised any person: firm or coporation any discount, rebate, commission or refund for the purpose of securing this advertisement for publication in the said newspaper. The Fort Pierce Tribune has been entered as second class matter at the Post Offices in Fort Pierce, St Lucie County, Florida and has been for a penod of one year next preoeding the first publication qf the attacl1ed copy of advertisement. Ad Pub Customer Number Date CODvline PO# FLORIDA DEVELOPMENT 227406 7/25/2003 MTG 9/8103 L.LAUBSCHER FINANC FLORIDA DEVELOPMENT 8/1/2003 FINANe Subscribed and sworn to me before this date: August 01, 2003 .j, );-AA./,.. '~f~ ! ,..-.. Of 20 NOlJCf Of lIIEEntIG .. = FLORID.&. DEVElOPMENT'" FINANCE CORPORATION NOTICE OF MEETING AND pueuc HEARING T~ern~hom . II. MeY.Con_ Forlhe purpOses of S \ bon. 147(fl ec- R. of the Inlllrnal evenueCode of 1986 . as amended, notice i~ rreby given that the londa DeveJopmentFi_ ~ance. Corporalion Ilhe , Cor,poratjr;m~}. wil/hold a ,!ubllc' ,tTigeling ./lnd heanng With respect to the prOPOsed issuance and sale of 11 at exClllld- ~g $2,000,000 Industria' I B evelop/TIent Revenue .onds, by the Corpora- tlDn,.a.t am. eetingto be held. August 8. 2003, t>e- ginning at 11:00 a.m., or I as. soon thereafter, ai I.. Conference Cenler 520' NW California.. 'Blvd Port Sf. lUcie, St: LUCi; County, Florida 34986 The prflCeeds of. ~ch bond. ISsue would be used.f~rthe purpose of aCQu 191tlon of approxi- mately 2,7 acres and' construction of approxi- matelY32,50Q square feet of Improvements located at 740 NWEnter: p,nse Drive, Port 51. lu- Cie, Florida, (the ~Pro- jecl'). The Project will be OWned or oper81ed br Cabinet Connection o the Treasure Coast Inc: Or' an affiliate, sub: sldlary, or related entity thereof, Tte. public . hearing . will e conducted in a man- ner Ilial provides a rea- sonable OpportunitY fo persons with dl'ffe'. r '. ring VIews to be heard on both. iss,uance of the Bonds 'anc1th.e location and nature Of, the Proj- .BCt. Any person desir- Ing to, be heard on this matter is requested to I attend the public hear- '1lQ or send. a represen_ tative. Written COm- mllnts to be presented , at the hearing may be I sUbm. i.tted to the Florida Development Financ Corporation . a\390 Ne I Orange Avenue. SuitE! J~~l Odrlando, Florida . . "acted to the EXBCut,ve Direct Com.mllnts made at th~ ! h.~ann~ are for the con- I s'~erat'on of the Corpor. J ~"on,. the' 80a rd of