HomeMy WebLinkAbout01-257Re.-corde~J: i0/26f0! 09:45
RESOLUTION NO. 01-~
A RESOLUTION OF THE BOARD OF COUNTY COMMISS
OF ST. LUCIE COUNTY, FLORIDA, APPROVING, PURSU,
THE REQUIREMENTS OF SECTION 147(0 OF THE IN~
REVENUE CODE OF 1986, AS AMENDED, THE ISSUANCE
TO EXCEED $8,500,000 IN AGGREGATE PRINCIPAL AMO
ST. LUCIE COUNTY, FLORIDA REVENUE BONDS (SAGE
CENTER OF FORT pIERCE II - LAKE FOREST PARK RETI~
COMMUNITY PROJECT), SERIES 2001, ON BEHALF Oi
LIVING CENTER OF FORT PIERCE II; AND PROVID]
EFFECTIVE DATE.
BE IT RESOLVED BY THE BOARD OF COUNTY COMMISS]
COUNTY, FLORIDA:
Section 1. Findings.
A. Pursuant to Chapter 159, Part II, Florida Statutes (the "Ac
Commissioners (the "Board") of St. Lucie County, Florida (the "County"
Sage Living Center of Fort Pierce II, LLC (the "Company"), to approv
herein, the issuance of its revenue bonds in a aggregate principal amount r
to be known as the St. Lucie County, Florida Revenue Bonds (Sage Livinl
- Lake Forest Park Retirement Community Project), Series 2001 (the "l
which will be loaned to'the Company to enable the Company to
construction, furnishing and equipping of an approximately 59-unit resi,
seniors and related facilities on land located at 2909 25th Street South, witt
St. Lucie County, Florida (the "Project"), fund financing charges, il
IONERS
MN-T TO
?ERNAL
OF NOT
LINT OF
LIVING
~EMENT
7 SAGE
NG AN
ONERS OF ST. LUCIE
:''), the Board of County
), has been requested by.
s, for purposes set forth
ot to exceed $8,500,000,
,~ Center of Fort Pierce II
Ionds"), the proceeds of
finance the acquisition,
tential rental facility for
in the corporate limits of
acluding interest during
construction and for a reasonable time after completion of construction, anll other costs necessary to
place the facilities in operation, and pay certain costs relating to the iSsUance of the Bonds. The
Project will be owned by Sage Living Center of Fort Pierce II, LLC, a ~mited liability company
organized and existing under the laws of the State of Florida (the "Bo~ bwer"), the sole member
of which is Sage Living Centers, Inc., a Florida nonprofit corporation wlc [ch has been determined
by the Internal Revenue Service to be an exempt organization described
of the Internal Revenue Code of 1986, as amended. The Project will 1:
Management Group, a Florida Corporation.
B. The approval requested by the Company is to comply ~
Section 147(0 of the Intemal Revenue Code of 1986, as amended (the
requires the approval by the Board of the issuance of the Bonds after a pul
has been held.
C. The Board on the date hereof has held a public heafin~
published pursuant to the public approval requirements of Section 147(0
the proof of publication of the notice is attached hereto as Exhibit A.
ruder Section 501(c)(3)
e managed by Covenant
dth the requirements of
"Code"), which section
~lic heating on the matter
pursuant to notice duly
of the Code. A copy of
Section 2. Public Hearing Held. The Board, on this date, has
convened public hearing pursuant to the provisions and upon the terms an
Section 147(0 of the Code. Anyone who wanted to speak for or against the
of the Bonds was given an opporttmity to do so.
Section 3. Approval Of Bonds. The issuance of the Bonds
purposes of Section 147(0 of the Code.
Effective Date. This resolution shall take effecl
Clerk
Clerk of the Board of County
Commissioners
held a duly called and
~l conditions set forth in
Project and the issuance
is hereby approved for
immediately upon its
/
at a meeting duly called and held this 21rd
/
ST. LUCre CO '
Chairman, Boaf~
Commissioners
APPROVED AS TO
CORRECTNESS:
day of October, 2001.
(, FLORIDA
o ouhty
FORM AND
BOOK 14~.8 PAGE
Exhibit A
Proof of Publication of Notice
3