HomeMy WebLinkAbout10-230RESOLUTION NO. 10-230
RESOLUTION OF THE BOARD OF COUNTY
COMMISSIONERS OF ST. LUCIE COUNTY, FLORIDA
APPROVING FOR THE PURPOSES OF AN INTERLOCAL
AGREEMENT BETWEEN ST. LUCIE COUNTY, FLORIDA
AND FLORIDA DEVELOPMENT FINANCE
CORPORATION, THE ISSUANCE OF NOT TO EXCEED
$21,000,000 OF REVENUE BONDS BY THE FLORIDA
DEVELOPMENT FINANCE CORPORATION TO FINANCE
AN EDUCATIONAL FACILITY LOCATED IN ST. LUCIE
COUNTY ON BEHALF OF RENAISSANCE CHARTER
SCHOOL, INC. AND RED APPLE ST. LUCIE, LLC; AND
PROVIDING AN EFFECTIVE DATE
BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS (THE
"BOARD") OF ST. LUCIE COUNTY, FLORIDA:
Section 1. Findings and Recitals. It is hereby found, ascertained, determined and
declared:
A. The 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, Florida (the "County"), for the benefit of approved Florida businesses to
enhance the economic development of the State of Florida (the "State"), provided that the Issuer
has entered into an interlocal agreement with the local governmental agency in which the project
will be located; and
B. The Issuer and the County have previously entered into an interlocal agreement, a
copy of which is attached hereto as Exhibit A (the "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), which Interlocal Agreement remains in
full force and effect, to permit the Issuer to issue revenue bonds to finance projects located
within the jurisdictional limits of the County; and
C. The Issuer intends to issue revenue bonds in an amount not to exceed $21,000,000
in one or more series oftax-exempt and taxable bonds (the "Bonds"). The proceeds of the Bonds
will be loaned by the Issuer to Renaissance Charter School, Inc., and Red Apple St. Lucie, LLC.
or other entity designated by Renaissance Charter School, Inc. (collectively the "Company").
The Company will use the proceeds of the Bonds to (A) finance the cost of (or reimburse itself
for prior expenditures for) refinancing existing debt that funded the acquisition of 6.14 acres of
land and construction of a 100,500 square foot school building located at 300 NW Cashmere
Boulevard, Port St. Lucie, Florida 34986 (the "Project"); and (B) pay costs and fund necessary
reserves associated with the issuance of the Bonds; and
J6247172-6343 1
39753'0019
D. Notice of a public hearing conducted by the Issuer, as evidenced by the attached
Exhibit B, was given in the form and manner required by law, as published in St. Lucie News-
Tribune, anewspaper of general circulation in St. Lucie County, Florida on June 23, 2010,
affording interested individuals a 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; and
F. An extract of the minutes of the public hearing held by the Issuer on July 7, 2010,
containing all comments and concerns, expressed orally and in writing, are attached hereto as
Exhibit C; and
G. The Issuer has requested that the County approve the issuance of the Bonds so that
the Bonds may be issued in compliance with the provisions of the Interlocal Agreement; and
H. It is desirable and in the best interest of the County that the Project be located within
the County and that the proposed bonds for the financing of the Project be approved by the Board.
Section 2. Approval of Bonds. Solely for the purposes of the Interlocal Agreement,
the Board hereby approves the issuance of the proposed Bonds by the Issuer and the use of the
proceeds to finance the proposed Project to be located within the County. The Board makes no
representation as to the creditworthiness of the Company or the feasibility of the Project.
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 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 the Interlocal Agreement 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. Effective Date. This Resolution shall take effect immediately upon its
adoption.
PASSED AND ADOPTED this 24th day of August, 2010.
~~~~~ .d
ATTEST: ~:_`4 €~~ <, - ::~ ~.J,~,,, BOARD OF COUNTY`COM ISSIONERS
f. -w-t ~~ , - ,,
,~ .JU ~ ST LUCIE COUNTY, LO A
~ - ~ ~`
r.? ~.
Fj; ~ BY:
DE UTY C >ERI~ _ ~~~ ~~
._~~F;
~.5~ ~ ..- , _ . L ~~
aaz¢71n-63A3 i 2
39753/0019
APPROVED AS TO FORM AND
CORRECTNESS:
~~ COUNTY ATTORNEY
aeza-nn-~3a3 I
39753/0019
EXHIBIT C
EXTRACT OF MINUTES OF PUBLIC HEARING
[Attached]
48247172-6343 I
397530019
This instrument was prepared by or under the
supervision of (and after recording should be returned to):
Joseph B. Stanton, Esq.
Broad and Cassel
390 N. Orange Ave.
Suite 1400
Florida 32801
JOSEPH E. SMRH, CLERK OF THE CIRCUfr COURT
SAINT LUCIE COUNTY
FlLE i 3421287 12115f2009 at 10:48 AIN
OR BOOK 3153 PAGE 2259 - 2263 Doc Type: AGR
RECORDING: 544.00
(Space resmed for Clerk of Court)
INTERLOCAL AGREEMENT
THIS INTERLOCAL AGREEMENT ("Agreement") dated this 27th day of November,
2007, is made by and between ST. LUCIE COUNTY, FLORIDA (the "County"} and the
FLORIDA DEVELOPMENT FINANCE CORPORATION (the "FDFC").
WHEREAS, the Legislature of the State of Florida (the "Legislature") adopted the Florida
Development Finance Corporation Act of 1993 (the "Act"); and
WHEREAS, the Legislature determined that it was necessary, in order to achieve the
purposes of the Act, as amended, to create a special development finance authority to cooperate and
act in conjunction with public agencies of Florida's state and local governments through interlocal
agreements pursuant to the Florida Interlocal Cooperation Act of 1969, as amended (the "Interlocal
Act"), in the promotion and advancement of projects related to economic development throughout
the State of Florida (the "State"); and
WHEREAS, the County and the FDFC wish to achieve the purposes set forth in Section
288.9602, Florida Statutes; and
WHEREAS, pursuant to the Act the FDFC was created, with the power to function for any
purposes of the Act within the corporate limits of any public agency once it has entered into an
interlocal agreement with that public agency; and
WHEREAS, the County desires to enter into an interlocal agreement with the FDFC to
allow the FDFC to act within the corporate limits of the County.
NOW, THEREFORE, the County and the FDFC agree as follows:
Section 1. Authorization to Act
The County and the FDFC agree that the FDFC will have the full right, power and authority
to exercise all powers set forth in the Act within the County's corporate limits; provided, however,
that the Board of County Commissioners of St. Lucie County reserves the right to consent to each
project to be financed within the jurisdictional limits of the County, and to adopt and amend policies
applicable to obtaining the consent required herein. The County hereby consents to the issuance by
oa~,wFCa~sse3a.,
~~saaooz as m, ~ ~nrzoo7 ~:as aM
FDFC of its Enterprise Bond Program Industrial Development Revenue Bonds (the "Bonds")
pursuant to this Interlocal Agreement for the purpose of financing or refinancing the cost of
acquiring, constructing, renovating, rehabilitating and improving leasehold improvements to certain
airport facilities, including but not limited to such facilities leased by Volo Holdings Fort Pierce
LLC from the County and located at 2982 Curtis King Boulevard, Fort Pierce, Florida.
Section 2. Costs and Indebtedness
The FDFC will be solely responsible for all indebtedness, liabilities, costs or expenses of the
FDFC as permitted pursuant to the Act. The County will not be responsible for any indebtedness,
liabilities, costs or expenses of the FDFC.
Bonds, notes or other indebtedness issued by FDFC:
a. will not constitute and will not be construed as a debt, liability, or obligation of
the County, the State or any subdivision thereof;
b. will not constitute and will not be construed as a pledge of the faith and credit or
any taxing power of the County or the State or any subdivision thereof; and
c. will be limited obligations of the FDFC payable solely from and secured by a
pledge of payments made by the FDFC and other funds provided therefore;
d. will not reference in any context, except for geographic purposes, the political
subdivision of the State known as St. Lucie County on or within said bond, note
or other form of indebtedness.
Section 3. Notification to County
The FDFC shall notify the County Administrator and the County Economic Development
Council within twenty (20) days of receipt of an application for financing pursuant to the Act for
projects located in the County.
Section 4. FDFC Operations
The FDFC will be responsible for administering its own affairs pursuant to the Act and
this Agreement and will not be required to obtain any further approval, consent or authorization
from the County, except as the Act or any other provision of applicable law or this Agreement
may provide.
Section 5. Effective Date of Agreement
This Agreement is effective upon being filed with the Clerk of the Circuit Court of
St. Lucie County, as required by law.
Section 6. Duration of Agreement
The term of this Agreement will be for a one year period and shall automatically be
renewed each year for an additional one year period unless the County or the FDFC provide
written notice to the other party that the party wishes to terminate this Agreement. If that notice
has been provided, this Agreement will terminate on or before sixty (60) days from the receipt of
the notice. Such termination shall not affect any Bonds, notes or other indebtedness issued by
FDFC pursuant to this Agreement prior to the effective date of any termination of this
Agreement.
Section 7. Severability
If any one or more of the sections of this Agreement aze held to be contrary to any express
provision of law or contrary to any policy of express law, although not expressly prohibited,
contrary to any express provision or provision of public policy or for any reason held invalid, then
those sections will be null and void and will be deemed separate from any other sections of this
Agreement.
Section 8. Counterparts
This Agreement may be executed in any number of counterparts, each of which, when so
executed and delivered, shall be an original; but such counterparts shall together constitute but one
and the same Agreement, and, in making proof of this Agreement, it shall not be necessary to
produce or account for more than one such counterpart.
IN WITNESS WHEREOF, the County and the FDFC have caused this Agreement to be
executed by their duly authorized representatives.
[Signatures continue next page]
FLORIDA DEVELOPMENT FINANCE
CORPORATION
By: ~~-~_
Its: ~k.~eL' ~d ~~, ~ e~~ ar
STATE OF FLORIDA
COUNTY OF C nC
SWORN TO A~D SUBSCRIBED before me this ~~ day of ~CPrn bYr , 200 ~
who is personally known to me
_s~ who produced ~=~~r, ~ ~c ~ y.~~ G~nS L as identification.
~- -.
Si tore ofNotary P lic
(Print Name of Notary Public)
Conunission Expires:
Con~rnission #
,,•"".'"Nw GEIxAVES 6ROIIMN
-~n Pubic - siw a Flald~
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canNSbn : Dp eob~t3
[Signatures continue next page] ~ ""~" Ba~r~w6o~wNorry~
oR~,wFC~essasa., 4
av~sa~ooozns m, „nrzoo~,:as ~
ST. LUCIE COUNTY, FLORIDA
ATTEST:
Clerk of the
STATE OF FL~~gI~A _
COUNTY OF t~
By:
" - ts: Chairman
~r 4
.`' 11l~~
~ rMEa~:
~~~ roc
Aa+r
SWORN TO AND SUBSCRIBED before me this o~ 7 day of NOV~~ , 20 0 7
by {~~IULA ~ (~W1S ,
who is personally known to me or
who produced as identification.
C~ Q • l~ /J -' wY~
,~~'Y °°e~, Carol A. Bishop
s ~ :Commission # DD323640 Signature of Notary Public
`", ~` Expires May 26, 2008
QI bw+d Teo, nn Inwr.w. Yc p/9M170+9
(Print Name of Notary Public)
Commission Expires:
Commission #
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EXHIBIT B
COPY OF NOTICE OF PUBLIC HEARING
[Attached)
aeza-71 n~3a3 1
39753/0019
l,~~ SCRIPPS TREASURE COAST
~ ~ NEWSPAPERS
St. Lucie News-Tribune
D-~ 600 Edwards Road, Ft Pierce, FL 34982
SCRIPPS -AFF.IDAUIT Of. PUBLICATION
STATE OF FLORIDA
COUNTY OF ST. LUCIE
Before the undersigned authority personally appeared, S. DarleneBroeg, who on oath says that she Is Classified Inside Sales
Mareger of the SL Lucie News-Tribune, a daily newspaper published at Fort Pierce fn SL Lude County, Florida: that the
attached Copy of adverttsement was publshed In the St Lude News-Tribune in the following issues below. Aff~nt further says
that fhe s61d St Lude News-Tribune Is a newspaper published in Fort Pieroe, In said St Lucie County, Florida, aM that said
newspaper has heretofore been continuously published; in said St Lucie County, Florida, daily and distributed in St Lucie
County, Florida, for a period of one year next preceding the Tirst publication of the attached wpy of advertisement; end affiant
further says that she has neither paid or promised any person, flnn or corporation any discount, rebate, commission or refund for
the purpatee of securing this advertisement for publication in the said newspaper. The St Lucie News Tribune has been entered
as Periodical Matter at the Post Offices in Fort Pierce,'St: Lude County. Florida and has been for a period of one year next
preceding the ftrst publication of the attached copy of advertisemerrt.
Ad Pub
Cus omer Number Date Copyline PO #
BROAD AND CASSEL 2159149 6/23/2010 NOTICE OF PUBLIC HEARIING FDFC 7/7/10
NEWSPAPER E-Sheet®
LEGAL NOTICE
ATTACHED
DO NOT
SEPARATE PAGE5
Subscribed and sworn to me before this date:
Junea 23, 2010
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EXHIBIT C
EXTRACT OF MINUTES OF PUBLIC HEARING
[Attached]
482471725343.1
39753/OOt9
Florida Development
Florida Development Finance Corporation
Extract from Report of Public Hearing
EXTRACT from the report of the Public Hearing held at Economic Development Council of St. Lucie
County offices at 1850 Fountainview Blvd., Suite 250, Port St. Lucie, FL, 34986 on July 7, 2010 at
11:00 am regarding the proposed issuance by Florida Development Finance Corporation
("Corporation") of its Industrial Development Revenue Bonds for Renaissance Charter Schools, Inc.
to finance acquisition of land and equipment, construction of improvements, and other issuance costs
regarding this project for St. Lucie County, Florida.
Present on behalf of the Corporation were Louis Laubscher.
Mr. Laubscher announced that public notice of the hearing was given according to statutory
requirement of the Internal Revenue Code Section 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 Governor of Florida.