HomeMy WebLinkAbout07-090
RESOLUTION NO. 07-090
A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF ST.
LUCIE COUNTY, FLORIDA, AUTHORIZING THE LEASE PURCHASE OF
CERTAIN WATER CONSERVATION EQUIPMENT FOR USE BY THE COUNTY
AT THE NORTH ROCK ROAD CORRECTION FACILITY AND EXECUTION OF
NECESSARY DOCUMENTS THEREFOR; PROVIDING FOR THE MAKING OF
PAYMENTS FOR THE LEASE FROM NON-AD VALOREM REVENUES
ANNUALLY BUDGETED AND APPROPRIATED THEREFOR; AUTHORIZING
FURTHER OFFICIAL ACTION IN CONNECTION WITH THE DELIVERY OF A
SCHEDULE TO THE MASTER LEASE AGREEMENT; AND PROVIDING AN
EFFECTIVE DATE.
Whereas, the Board of County Commissioners (the "Board") of St. Lucie County, Florida
(the "Lessee" or "County"), desires to obtain certain water conservation equipment (the
"Equipment") for use by the County at the North Rock Road Correction Facility, described on
Exhibit A (the "Schedule") to the Master State and Municipal Lease/Purchase Agreement
(collectively, the "Lease") with Citimortgage, Inc. (the "Lessor"), the form of which is attached
hereto as Appendix I; and
Whereas, the Equipment is essential for the Lessee to perform its governmental functions;
and
Whereas, the funds made available under the Lease will be deposited with UMB Bank,
N.A. (the "Escrow Agent") pursuant to an Escrow Agreement among the Lessee, the Lessor and
the Escrow Agent (the "Escrow Agreement") and will be applied to the acquisition of the
Equipment in accordance with the Escrow Agreement; and
Whereas, Lessee has taken the necessary steps, including those relating to any applicable
legal bidding requirements, to arrange for the acquisition of the Equipment; and
Whereas, it is necessary and desirable for the Lessee to enter into the Lease with the
Lessor and the Escrow Agreement with the Lessor and the Escrow Agent; now therefore:
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, and other applicable provisions
of law (collectively, the" Act").
(SOOO/99/00108847DOCvl)
Section 2. Approval of Financing. The lease of the Equipment pursuant to the Lease, the
Escrow Agreement and the Schedule (collectively, the "Financing Documents") in substantially
the forms attached hereto as Appendix!, and made a part of this resolution is hereby approved.
Section 3, Execution of Schedule and Escrow Agreement. The Chairman, Vice
Chairman, and any other officer of the County who shall have power to execute contracts on
behalf of County be, and each of them hereby is, authorized to execute, acknowledge and deliver
the Lease and Escrow Agreement in substantially the forms attached hereto as Appendix !, with
any changes, insertions and omissions therein as may be approved by the officers who execute
the Lease and the Escrow Agreement, such approval to be conclusively evidenced by such
execution and delivery of the Lease and the Escrow Agreement. The Clerk of the Board and any
other officer of the County who shall have power to do so be, and each of them hereby is
authorized to affix the official seal of the County to the Lease and the Escrow Agreement and
attest the same.
Section 4. Authorization of Execution of Other Documents. The proper officers of the
County be, and each of them hereby is, authorized and directed to execute and deliver any and
all papers, instruments, opinions, certificates, affidavits and other documents and to do or cause
to be done any and all other acts and things necessary or proper for carrying out the intent of this
resolution.
Section 5. Tax Compliance. The County covenants throughout the term of the
Equipment Lease, to comply with the requirements of the Code. The County will take all actions
necessary to maintain the exclusion from gross income for purposes of the Code of the interest
component of the payments under the Lease to the same extent as on the date of the Lease.
Section 6. Repeal of Inconsistent Provisions. All resolutions or parts thereof in conflict
with this resolution are hereby repealed to the extent of such conflict.
Section 7, 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,
and in no way affect the validity of all other provisions of this resolution or of the Lease
delivered hereunder.
Section 8. Amendment. This resolution may not be amended or repealed except with
the prior written consent of Lessor.
2
{5000/99/00I08847DOCvI }
Section 9, Effective Date. This resolution shall take effect immediately upon its
adoption.
Passed and Adopted this 220d day of May 2007, at a regular meeting duly called and held.
(SEAL)
A TIEST:
,
By'
lerk of the it Court, ex-officio
lerk of the Board
{5000/99/00 108847.DOCvl)
ST. LUCIE COUNTY, FLORIDA
B
County
I
,
APPROVED AS TO FORM AND
CORRECTNESS:
Coun
3
EXHIBIT A
[INSERT FORM OF LEASE, EXHIBITS AND ESCROW AGREEMENT]
4
{5000/99/00108847DOCvl{