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RESOLUTION NO. 05-272
A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF
ST. LUCIE COUNTY, FLORIDA, AMENDING RESOLUTION NO. 04-134,
ADOPTED ON APRIL 13, 2004, WHICH PROVIDED FOR THE ISSUANCE
OF A NOT EXCEEDING $10,000,000 IMPROVEMENT REVENUE NOTE,
SERIES 2004 (LAND ACQUISITION), IN CERTAIN RESPECTS;
AUTHORIZING FURTHER ACTION IN CONNECTION THEREWITH,
INCLUDING AMENDMENT OF THE LOAN AGREEMENT BETWEEN
THE COUNTY AND SUNTRUST BANK; AND PROVIDING AN
EFFECTIVE DATE.
BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF ST. LUCIE
COUNTY, FLORIDA:
Section 1. Authority for this Resolution. This resolution is adopted pursuant to the
provisions of Chapter 125, Part I, Florida Statutes, as amended, Ordinance No. 87-77 of the Board,
as amended, and other applicable provisions of law (the "Act"), and Resolution No. 04-134 of the
Board, adopted on April 13, 2004 (the "Original Resolution").
Section 2. Findings. It is hereby found, declared, and determined by the Board of County
Commissioners (the "Board") ofSt. Lucie County, Florida (the "County"), as follows:
(A) The County, pursuant to Resolution No. 04-134, adopted by the Board on April 13,
2004, entered into a Loan Agreement with SunTrust Bank (the "Bank"), dated May 5, 2004 (the
"Loan Agreement"). Pursuant to the Loan Agreement, the Bank loaned funds to the County in the
form of a line of credit in an amount not to exceed $10,000,000 (the "Loan"), to acquire land for a
new research and education center within the County, and the County delivered a promissory note
("N ote") to the Bank as evidence thereof.
(B) The Board finds it necessary and desirable and in the best interest of the health,
safety and welfare of the inhabitants of the County to amend the definition of the Project to include
other capital improvements as determined by the Board.
Section 3. Amendments to Resolution and Loan Agreement. The definition of Project
contained in Section 2 of the Original Resolution is amended to read as follows:
'''Project'' means the acquisition of land for a new research and education center
within the County, and all costs incidental thereto, or such other capital projects as
may be determined by the Board from time to time, including, but not limited to, a
portion of the cost of a new facility for the Clerk of the Circuit Court."
The Loan Agreement and the Note shall be deemed to be amended to reflect the foregoing change
in the definition of Project.
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Section 4. Remaining Provisions Unaffected. The remaining provisions of the Original
Resolution, the Loan Agreement, and the Note shall remain in full force and effect.
Section 5. Severability. If anyone or more of the covenants, agreements, or provisions of
this resolution should be held contrary to any express provision of law or contrary to the policy of
express law, though not expressly prohibited, or against public policy, or shall for any reason
whatsoever be held invalid, then such covenants, agreements, or provisions shall be null and void
and shall be deemed separate from the remaining covenants, agreements or provisions hereof, and in
no way affect the validity of all other provisions of the Loan Agreement or this resolution.
Section 6. Effective Date. This resolution shall take effect immediately upon its adoption.
Passed and Adopted this 28th day of June 2005, at a regular meeting duly called and held.
ST. LUCIE COUNTY, FLORIDA
(SEAL)
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Chair, Boáf2ì of 0
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ty Commission.ers '
ATTEST:
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By:
C k of the Circuit Court,
Ex-officio Clerk of the Bo
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