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HomeMy WebLinkAbout11-004 EDRESOLUTION NO. 11-004 A RESOLUTION OF THE ST. LUCIE COUNTY EROSION DISTRICT RELATING TO THE FUNDING OF CAPITAL IMPROVEMENTS AND ESSENTIAL SERVICES THROUGH THE IMPOSITION OF NON-AD VALOREM ASSESSMENTS; PROVIDING A PROCEDURE FOR THE IMPOSITION OF SUCH NON-AD VALOREM ASSESSMENTS; PROVIDING DEFINITIONS AND FINDINGS; AUTHORIZING THE IMPOSITION AND COLLECTION OF NON-AD VALOREM ASSESSMENTS TO FUND THE COST OF CAPITAL IMPROVEMENTS AND ESSENTIAL SERVICES PROVIDING A SPECIAL BENEFIT TO REAL PROPERTY WITHIN THE DISTRICT; AUTHORIZING THE CREATION OF ASSESSMENT AREAS; ESTABLISHING PROCEDURES FOR NOTICE AND ADOPTION OF ASSESSMENT ROLLS AND FOR CORRECTION OF ERRORS AND OMISSIONS; PROVIDING THAT ASSESSMENTS CONSTITUTE A LIEN ON ASSESSED PROPERTY UPON ADOPTION OF THE ASSESSMENT ROLLS; ESTABLISHING PROCEDURES AND METHODS FOR COLLECTION OF ASSESSMENTS; AUTHORIZING THE ISSUANCE OF OBLIGATIONS SECURED BY ASSESSMENTS; PROVIDING FOR VARIOUS RIGHTS AND REMEDIES OF THE HOLDERS OF SUCH OBLIGATIONS; PROVIDING THAT SUCH OBLIGATIONS WILL NOT CREATE A GENERAL DEBT OR OBLIGATION OF THE DISTRICT OR ST. LUCIE COUNTY; PROVIDING FOR SEVERABILITY; AND PROVIDING AN EFFECTIVE DATE. BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF THE ST. LUCIE COUNTY EROSION DISTRICT AS FOLLOWS: ARTICLE I INTRODUCTION SECTION 1.01. DEFINITIONS. When used in this Resolution, the following terms shall have the following meanings, unless the context clearly requires otherwise: "Act" means Chapter 2004-409, Laws of Florida, as may be amended from time to time. "Annual Assessment Resolution" means the resolution described in Section 2.08 hereof, approving one or more Assessment Rolls for a specific Fiscal Year. "Assessment" means anon-ad valorem assessment, sometimes described as a special assessment, imposed by the Board pursuant to this Resolution to fund the Capital Cost of Capital Improvements or the Service Cost of Essential Services. The term "Assessment" and the reference to non-ad valorem assessments herein means those assessments which are not based upon millage and which can become a lien against a homestead as permitted by Article X, Section 4 of the Florida Constitution. JOSEPH E. SMITH, CLERK OF THE CIRCUIT COURT SAINT LUCIE COUNTY FILE # 3606121 07`01'2011 at 10:22 AN1 e: RESO OR BOOK 3305 PAGE 956 - 969 Doc Typ RECORDING: $~ 20.50 "Assessment Area" means any of specific areas created by resolution of the Board pursuant to Section 2.02 hereof, that specially benefit from Capital Improvements or Essential Services. "Assessment Coordinator" means the County Administrator or such person's designee. "Assessment Roll" means the special assessment roll relating to Capital Improvements or Essential Services containing the information specified in Section 2.04 hereof, approved by a Final Assessment Resolution or an Annual Assessment Resolution pursuant to Section 2.07 or Section 2.08 hereof. "Assessment Unit" means the apportionment unit utilized to determine the Assessment for each parcel of property, as set forth in the Initial Assessment Resolution. "Assessment Units" may include, by way of example and not limitation, one or a combination of the following: front footage, land area, improvement area, equivalent residential units, permitted land use, property value or any other physical characteristic or reasonably expected use of the property that is related to the special benefit conveyed by Capital Improvements or Essential Services to be funded from proceeds of the Assessment. "Board" means the governing body of the St. Lucie County Erosion District. "Capital Cost" means all or any portion of the expenses that are properly attributable to the acquisition, design, construction, installation, reconstruction, renewal or replacement (including demolition, environmental mitigation and relocation) of Capital Improvements under generally accepted accounting principles; and including reimbursement to the District fox any funds advanced for Capital Cost and interest on any interfund or intrafund loan for such purposes. "Capital Improvements" means capital improvements constructed or installed by the District which provide a special benefit to, or relieve a burden attributable to, real property within an Assessment Area. "County" means St. Lucie County, Florida. "District" means the St. Lucie County Erosion District. "Essential Services" means the services, facilities, or programs provided by the District which convey a special benefit to, or relieve a burden attributable to, real property within an Assessment Area. "Final Assessment Resolution" means the resolution described in Section 2.07 hereof, which shall confirm, modify or repeal the Initial assessment Resolution and which shall be the final proceeding for the imposition of an Assessment. "Fiscal Year" means the period commencing on October 1 of each year and continuing through the following September 30, or such other period as may be prescribed by law as the Fiscal Year for the District. 2 "Initial Assessment Resolution" means the resolution described in Section 2.03 hereof, which shall be the initial proceeding for the imposition of an Assessment. "Obligations" means bonds or other evidence of indebtedness including but not limited to, notes, commercial paper, capital leases or any other obligation issued or incurred to finance Capital Improvements and secured, in whole or in part, by proceeds of the Assessments. "Pledged Revenue" means, as to any series of Obligations, (A) the proceeds of such Obligations, including investment earnings, (B) proceeds of the Assessments pledged to secure the payment of such Obligations, and (C) any other legally available non-ad valorem revenue pledged, at the Board's sole option, to secure the payment of such Obligations, as specified by the resolution authorizing such Obligations. "Property Appraiser" means the St. Lucie County Property Appraiser. "Resolution" means this Capital Improvement and Essential Services Assessment Procedure Resolution. "Resolution of Intent" means the resolution expressing the Board's intent to collect Assessments on the ad valorem tax bill required by the Uniform Assessment Collection Act. "Service Cost" means all or any portion of the expenses that are properly attributable to the provision of Essential Services under generally accepted accounting principles; and including reimbursement to the District for any funds advanced for such expenses and interest on any interfund or intrafund loan for such purposes. "Tax Collector" means the St. Lucie County Tax Collector. "Tax Roll" means the real property ad valorem tax assessment roll maintained by the Property Appraiser for the purpose of the levy and collection of ad valorem taxes. "Uniform Assessment Collection Act" means sections 197.3632 and 197.3635, Florida Statutes, or any successor statutes authorizing the collection of non-ad valorem assessments on the same bill as ad valorem taxes, and any applicable regulations promulgated thereunder. SECTION 1.02. INTERPRETATION. Unless the context indicates otherwise, words importing the singular number include the plural number and vice versa; the terms "hereof', "hereby"," herein", "hereto", "hereunder" and similar terms refer to this Resolution; and the term "hereafter" means after, and the term "heretofore" means before, the effective date of this Resolution. Words importing either gender include the correlative words of the other gender unless the context indicates otherwise. SECTION 1.03. FINDINGS. It is hereby ascertained, determined and declared as follows: (B) The District is authorized by the Act to provide, operate and maintain erosion prevention facilities and related improvements and services. (C) The District is further authorized by the Act to assess, levy and collect Assessments upon real property within the District in accordance with Chapter 189, Florida Statutes, and the Uniform Assessment Collection Act. (D) The Assessments imposed pursuant to the procedure set forth herein shall constitute non-ad valorem assessments within the meaning and intent of the Uniform Assessment Collection Act. (E) The Assessments imposed pursuant to this Resolution will be imposed by the District, not the Property Appraiser or Tax Collector. Any activity of the Property Appraiser or Tax Collector under the provisions of this Resolution shall be construed solely as ministerial. ARTICLE II ASSESSMENTS SECTION 2.01. AUTHORITY AND PURPOSE. The Board is hereby authorized to impose assessments against property located within an Assessment Area to fund in whole or in part Capital Improvements or Essential Services. The Assessment shall be computed in a manner that fairly and reasonably apportions the Capital Costs or Service Costs among the parcels of property within an Assessment Area, based upon objectively determinable Assessment Units as provided for in an Initial Assessment Resolution. SECTION 2.02. ESTABLISHMENT OF ASSESSMENT AREA. (A) The Board is hereby authorized to establish Assessment Areas by resolution. Each Assessment Area shall encompass only that property specially benefited by the Capital Improvements or Essential Services proposed for funding from the proceeds of Assessments to be imposed therein. Either the Initial Assessment Resolution proposing an Assessment Area or the Final Assessment Resolution establishing an Assessment area shall include brief descriptions of the Capital Improvements or Essential Services proposed for such area, a description of the property to be included within the Assessment Area, and specific legislative findings that recognize the special benefit to be provided by each proposed Capital Improvement or Essential Service to property within the Assessment Area. Properties in any Assessment Area need not be adjacent or contiguous to any other property in an Assessment area. (B) The Board, upon its own motion or upon written petition by a majority of the affected property owners, shall determine whether establishment of a proposed Assessment Area may be of special benefit to the real property located within the boundaries of such proposed Assessment Area. (C) Property owners, as referred to in this Resolution, shall include any persons, firm, partnership, corporation, trust, or other legal entity holding title to any property within the proposed Assessment Area which would be liable for Assessments hereunder if said Assessment were made. The requirements for a majority of such property owners, as provided below, shall mean no less than (a) fifty-one (51) percent of the owners in number and, where the Assessment against each owner is substantially equal or, (b) the owners of real property liable for fifty-one (51) per cent of the assessment where the proposed assessment against each owner is not substantially equal. For purposes hereof, 4 substantially equal means a variance between the highest and lowest Assessment of not more than twenty (20) percent. (D) Initial petition. Property owners may petition the Board for creation of an Assessment Area. The Assessment Coordinator shall provide the petition form to any interested person. Signatures on the petition and the fact of execution by a majority of such property owners shall be verified by the Assessment Coordinator upon the basis of information in the public records. Property owners may withdraw their names from the petition by providing the Assessment Coordinator with written notice of such withdrawal at any time prior to commencement of the public hearing provided for in Section 2.07 hereof. Notwithstanding anything herein to the contrary, the Board may create a District on its own motion without the concurrence of fifty-one (51) percent of the property owners. (E) Petition form. The form of petition referred to herein shall be approved by the county attorney as to legal form and sufficiency. Such form may require the petitioner(s) to provide (i) a description of the proposed improvements or services, and (ii) a statement that the petitioners (a) request that the Capital Improvements and/or Essential Services be provided, (b) recognize that the determination of Assessments will be made by the Board at a public hearing, (c) agree to be assessed for the actual cost of the Capital Improvements and/or Essential Services, including administrative and other incidental costs connected therewith, and (d) agree to be assessed for the costs of preparing the plans, specifications, and cost estimates required for providing the Capital Improvements and/or Essential Services in the event the such improvements and/or services are not approved. (F) Priority of petitions and record keeping. Petitions shall be numbered in the order in which they are received. The Assessment Coordinator shall maintain a tabulation of numbered petitions along with the dates of filing, hearings, preliminary estimates and the final cost. (G) At its option, the Board may establish a process pursuant to which the owners of property may petition for creation of an Assessment Area to fund Capital Improvements and Essential Services. Notwithstanding any petition process established pursuant to this section, the Board shall retain the authority to create Assessment Areas without a landowner petition. SECTION 2.03. INITIAL ASSESSMENT RESOLUTION. The initial proceeding for imposition of an Assessment shall be the Board's adoption of an Initial Assessment Resolution. "The Initial Assessment Resolution shall: (A) describe the boundaries of, or real property to be included within, the proposed Assessment Area; (B) describe the Capital Improvements and/or Essential Services proposed for funding from proceeds of the Assessments; (C) estimate the Capital Cost or Service Cost; (D) describe with particularity the proposed method of apportioning the Service Cost or Capital Cost among the parcels of property located within the Assessment Area and the proposed Assessment Unit, such that the owner of any parcel of property can objectively determine the amount of the Assessment; (E) include specific legislative findings that recognize the equity provided by the apportionment methodology; (F) schedule a public hearing at a meeting of the Board, which meeting shall be a regular, adjourned or special meeting, at which to hear objections of all interested persons and to consider adoption of the Final Assessment Resolution and approval of the assessment Roll; and (G) direct the Assessment Coordinator to (1) prepare the Assessment Roll pursuant to Section 2.04 hereof, (2) publish the notice required by Section 2.05 hereof, and (3) mail the notice required by Section 2.06 hereof using information then available from the Property Appraiser. SECTION 2.04. ASSESSMENT ROLL. (A) Upon adoption of an Initial Assessment Resolution, the Assessment Coordinator shall prepare a preliminary Assessment Roll conforming to the requirements of the Uniform Assessment Collection Act and generally containing the following information: (1) a summary description of each parcel of property (conforming to the description contained on the Tax Roll) subject to the Assessment; (2) the name of the owner of record of each parcel, as shown on the Tax Roll; (3) the number of Assessment Units attributable to each parcel; (4) if applicable, the estimated maximum annual Assessment to become due in any Fiscal Year for each Assessment Unit; and (5) if applicable, the estimated maximum annual Assessment to become due in any Fiscal Year for each parcel. (B) Copies of the Initial Assessment Resolution and the preliminary Assessment Roll shall be on file in the office of the Assessment Coordinator and open to public inspection. The foregoing shall not be construed to require that the Assessment Roll be in printed form if the amount of the Assessment for each parcel of property can be determined by use of a computer terminal or otherwise accessible through the Internet or similar data base. SECTION 2.05. NOTICE BY PUBLICATION. After preparation of the Assessment Roll as required by Section 2.04 hereof, the Assessment Coordinator shall publish once in a newspaper of general circulation within the County a notice stating that at a meeting of the Board on a certain day and hour, which meeting shall be a regular, adjourned or special meeting, the Board will hear objections of all interested persons to adoption of the Final Assessment Resolution and approval of the Assessment Roll. The published notice shall be published at least twenty (20) calendar days prior to the public hearing and shall conform to the requirements set forth in the Uniform Assessment Collection Act. SECTION 2.06. NOTICE BY MAIL. In addition to the published notice required by Section 2.05 hereof, the Assessment Coordinator shall provide notice of the proposed Assessment by first class mail to the owner of each parcel of property subject to the Assessment. The mailed notice shall include an estimate of the maximum amount of the proposed Assessment and shall conform to 6 the requirements set forth in the Uniform Assessment Collection Act. Notice shall be mailed at least twenty (20) calendar days prior to the hearing to each property owner at such address as is shown on the Tax Roll on the twentieth calendar day prior to the date of mailing. Notice shall be deemed mailed upon delivery thereof to the possession of the U.S. Postal Service. The Assessment Coordinator may provide proof of such notice by affidavit. SECTION 2.07. PUBLIC HEARING; ADOPTION OF FINAL RESOLUTION. At the time named in such notices, or to which an adjournment or continuance may be taken, the Board shall conduct a public hearing and receive written objections and hear testimony of interested persons and may then, or at any subsequent meeting of the Board, adopt the Final Assessment Resolution which shall: (A) confirm, modify or repeal the Initial Assessment Resolution with such amendments, if any, as may be deemed appropriate by the Board; (B) establish the Assessment Area; (C) establish the maximum amount of the Assessment for each Assessment Unit; (D) approve the Assessment Roll, with such amendments as it deems just and right; and (E) determine the method of collecting the Assessments. SECTION 2.08. ANNUAL ASSESSMENT RESOLUTION. (A) The Board shall adopt an Annual Assessment Resolution during its budget adoption process for each Fiscal Year in which Assessments will be imposed to approve the Assessment Roll for such Fiscal Year. The Final Assessment Resolution shall constitute the Annual Assessment Resolution for the initial Fiscal Year. The Assessment Roll, as prepared in accordance with the Initial Assessment Resolution and confirmed or amended by the Final Assessment Resolution, shall be confirmed or amended by the Annual Assessment Resolution to reflect the then applicable portion of the cost of the Capital Improvements or Essential Services, or both, to be paid by Assessments. Failure to adopt an Annual Assessment Resolution during the budget adoption process may be cured at any time. A single Annual Assessment Resolution may approve the Assessment Roll for more than one Assessment Area. (B) Adoption of the Annual Assessment Resolution for each Fiscal Year shall not require notice or public hearing unless (i) the proposed Assessment for any parcel of property exceeds the maximum amount set forth in the notice provided pursuant to Section 2.06 hereof, (ii) an Assessment is imposed against property not previously subject thereto, or (iii) the Board desires to implement an alternative to the previously approved apportionment methodology for a given Assessment, in which case the Board shall provide notice in accordance with Sections 2.05 and 2.06 hereof and conduct a public hearing prior to adoption of the Annual Assessment Resolution. In the case of an Annual Assessment Resolution which approves an Assessment against property not previously subject thereto, notice and a public hearing shall not be required if all owners of the newly affected property have provide the Board with written consent to the imposition of the Assessment. SECTION 2.09. EFFECT OF ASSESSMENT RESOLUTIONS. The adoption of the Final Assessment Resolution or of an Annual Assessment Resolution requiring notice as provided in Section 2.08 hereof, shall be the final adjudication of the issues presented (including, but not limited to, the apportionment methodology, the amount of the Assessment, the adoption of the Assessment Roll 7 and the levy and lien of the Assessments), unless proper steps are initiated in a court of competent jurisdiction to secure relief within 20 days from the date of the Board's adoption of the Final Assessment Resolution. The Assessments for each Fiscal Year shall be established upon adoption of the Annual Assessment Resolution. If the Assessments are to be collected pursuant to the Uniform Assessment Collection Act, the Assessment Roll, as approved by the Annual Assessment Resolution, shall be certified to the Tax Collector. SECTION 2.10. PREPAYMENT OF ASSESSMENTS. (A) The Assessment imposed against any parcel of property to fund Capital Improvements shall be subject to prepayment at the option of the property owner, as provided in the applicable Initial Assessment Resolution. (B) Following the issuance of Obligations, the Board may allow in its sole discretion, the owner of each parcel of property subject to the Assessment shall be entitled to prepay the total remaining Assessment upon payment of an amount equal to the sum of (a) such parcel's share of the principal amount of Obligations then outstanding, (b) the premium associated with redemption of such parcel's share of the principal amount of Obligations then outstanding, and (c) interest on such parcel's share of the principal amount of Obligations then outstanding, from the most recent date to which interest has been paid to the next date following such prepayment on which the District can redeem Obligations after providing all notices required by the resolution authorizing issuance of such Obligations; provided however, that during any period commencing on the date the annual Assessment Roll is certified for collection pursuant to the Uniform Assessment Collection Act and ending on the next date on which unpaid ad valorem taxes become delinquent, the District may reduce the amount required to prepay the Assessments imposed against any parcel of property by the amount of the Assessment certified for collection with respect to such parcel. (C) At the District's election, the Assessment imposed against any parcel of property may be subject to acceleration and mandatory prepayment if at any time a tax certificate has been issued and remains outstanding in respect of such property. In such event, the amount required for mandatory prepayment shall be the same as that required for an optional prepayment authorized by Section 2.10(A) hereof. (D) The amount of all prepayments computed in accordance with this Section 2.10 shall be final. The District shall not be required to refund any portion of a prepayment if (1) the Capital Cost is less than the amount upon which such prepayment was computed, or (2) annual Assessments will not be imposed for the full number of years anticipated at the time of such prepayment. SECTION 2.11. LIEN OF ASSESSMENTS. (A) Upon adoption of the Annual Assessment Resolution for each Fiscal Year, Assessments to be collected under the Uniform Assessment Collection Act shall constitute a lien against assessed property equal in rank and dignity with the liens of all state, county, district or municipal taxes and other non-ad valorem assessments. Except as otherwise provided by law, such lien shall be superior in dignity to all other liens, titles and claims, until paid. The lien shall be deemed perfected upon adoption by the 8 Board of the Annual Assessment Resolution and shall attach to the property included on the Assessment Roll as of the prior January 1, the lien date for ad valorem taxes. (B) Upon adoption of the Final Assessment Resolution, Assessments to be collected under the alternative method of collection provided in Section 3.02 hereof shall constitute a lien against assessed property equal in rank and dignity with the liens of all state, county, district or municipal taxes and other non-ad valorem assessments. Except as otherwise provided by law, such lien shall be superior in dignity to all other liens, titles and claims, until paid. The lien shall be deemed perfected on the date notice thereof is recorded in the Official Records of St. Lucie County, Florida. SECTION 2.12. REVISIONS TO ASSESSMENTS. If any Assessment made under the provisions of this Resolution is either in whole or in part annulled, vacated or set aside by the judgment of any court, or if the Board is satisfied that any such Assessment is so irregular or defective that the same cannot be enforced or collected, or if the Board has omitted the inclusion of any property on the Assessment Roll which property should have been so included, the Board may take all necessary steps to impose a new Assessment against any property benefited by the Capital Improvement or Essential Service, following as nearly as may be practicable the provisions of this Resolution, and in case such second Assessment is annulled, the Board may levy and impose other Assessments until a valid Assessment is imposed. SECTION 2.13. PROCEDURAL IRREGULARITIES. Any informality or irregularity in the proceedings in connection with the levy of any Assessment under the provisions of this Resolution shall not affect the validity of the same after the approval thereof, and any Assessment as finally approved shall be competent and sufficient evidence that such Assessment was duly levied, that the Assessment was duly made and adopted, and that all proceedings related to such Assessment were duly had, taken and performed as required by this Resolution; and no variance from the directions hereunder shall be held material unless it be clearly shown that the party objecting was materially injured thereby. Notwithstanding the provisions of this Section 2.13, any party objecting to an assessment imposed pursuant to this Resolution must file an objection with a court of competent jurisdiction within the time periods prescribed herein. SECTION 2.14. CORRECTION OF ERRORS AND OMISSIONS. (A) No act of error or omission on the part of the Board, Assessment Coordinator, Property Appraiser, 'l'ax Collector, or their deputies or employees, shall operate to release or discharge any obligation for payment of any Assessment imposed by the Board under the provisions of this Resolution. (B) The number of Assessment Units attributed to a parcel of property may be corrected at any time by the Assessment Coordinator. Any such correction which reduces an Assessment shall be considered valid from the date on which the Assessment was imposed and shall in no way affect the enforcement of the Assessment imposed under the provisions of this Resolution. Any such correction which increases an Assessment or imposes an assessment on omitted property shall first require notice to the affected owner at the address shown on the Tax Roll notifying the owner of the date, time and place that the Board will consider confirming the correction and offering the owner an opportunity to be heard. 9 (C) After the Assessment Roll has been delivered to the Tax Collector in accordance with the Uniform Assessment Collection Act, any changes, modifications or corrections thereto shall be made in accordance with the procedures applicable to errors and insolvencies for ad valorem taxes. ARTICLE III COLLECTION OF ASSESSMENTS SECTION 3.01. METHOD OF COLLECTION. Unless directed otherwise by the Board, Assessments shall be collected pursuant to the Uniform Assessment Collection Act, and the District shall comply with all applicable provisions thereof, including but not limited to (1) entering into a written agreement with the Property Appraiser and the Tax Collector for reimbursement of necessary expenses, (2) certifying the Assessment Roll to the Tax Collector, and (3) adopting a Resolution of Intent after publishing weekly notice of such intent for four consecutive weeks preceding the hearing. The Resolution of Intent may be adopted either prior to or following adoption of the Initial Assessment Resolution; provided however, that the Resolution of Intent must be adopted prior to January 1 (or March 1 with consent of the Property Appraiser and Tax Collector) of the year in which the Assessments are first collected on the ad valorem tax bill. This section shall not be construed to require adoption of an additional Resolution of Intent, and notice thereof, if a Resolution of Intent was previously adopted and is currently in effect for the area in question. Any hearing or notice required by this Resolution may be combined with any other hearing or notice required by the Uniform Assessment Collection Act. SECTION 3.02. ALTERNATIVE METHOD OF COLLECTION. In lieu of using the Uniform Assessment Collection Act, the District may elect to collect the Assessment on a monthly basis in accordance with Chapters 170 and 189, Florida Statutes, in which case the follow provisions apply: (A) A general notice of the lien resulting from imposition of the Assessments shall be recorded in the Official Records of St. Lucie County, Florida. Nothing herein shall be construed to require that individual liens or releases be filed in the Official Records. (B) The District shall have the right to appoint or retain an agent to foreclose and collect all delinquent Assessments in the manner provided by law. An Assessment shall become delinquent if it is not paid within thirty (30) days from the due date. The District or its agent shall notify any property owner who is delinquent in payment of an Assessment within sixty (60) days from the date such Assessment was due. Such notice shall state in effect that the District or its agent will initiate a foreclosure action and cause the foreclosure of such property subject to a delinquent Assessment in a method now or hereafter provided by law for foreclosure of mortgages on real estate, or otherwise as provided by law. (C) All costs, fees and expenses, including reasonable attorney fees and title search expenses, related to any foreclosure action as described herein shall be included in any judgment or decree rendered therein. At the sale pursuant to decree in any such action, the District may be the purchaser to the same extent as an individual person or corporation. The District may join in one foreclosure action the collection of Assessments against any or all property assessed in accordance with the provisions hereof. All delinquent property owners whose property is foreclosed shall be liable for an apportioned amount of reasonable costs and expenses incurred by the District and its agents, including 10 reasonable attorney fees, in collection of such delinquent Assessments and any other costs incurred by the District as a result of such delinquent Assessments including, but not limited to, costs paid for draws on a credit facility and the same shall be collectible as a part of or in addition to, the costs of the action. (L7) In lieu of foreclosure, any delinquent Assessment and the costs, fees and expenses attributable thereto, may be collected pursuant to the Uniform Assessment Collection Act; provided however, that (1) notice is provided to the owner in the manner required by law and this Resolution, and (2) any existing lien of record on the affected parcel for the delinquent Assessment is supplanted by the lien resulting from certification of the Assessment Roll to the Tax Collector. SECTION 3.03. RESPONSIBILITY FOR ENFORCEMENT. The District and its agents, if any, shall maintain the duty to enforce the prompt collection of Assessments by the means provided herein. The duties related to collection of Assessments may be enforced at the suit of any holder of Obligations in a court of competent jurisdiction by mandamus or other appropriate proceedings or actions. ARTICLE IV ISSUANCE OF OBLIGATIONS SECTION 4.01. GENERAL AUTHORITY. (A) The Board shall have the power and is hereby authorized to provide by resolution, at one time or from time to time in series, for the issuance of Obligations to fund Capital Improvements and any amounts to be paid or accrued in connection with issuance of such Obligations including but not limited to capitalized interest, transaction costs and reserve account deposits. (B) The principal of and interest on each series of Obligations shall be payable from Pledged Revenue. At the option of the Board, the District may agree, by resolution, to budget and appropriate funds to make up any deficiency in the reserve account established for the Obligations or in the payment of the Obligations, from other non-ad valorem revenue sources. The Board may also provide, by resolution, for a pledge of or lien upon proceeds of such non-ad valorem revenue sources for the benefit of the holders of the Obligations. Any such resolution shall determine the nature and extent of any pledge of or lien upon proceeds of such non-ad valorem revenue sources. SECTION 4.02. TERMS OF THE OBLIGATIONS. The Obligations shall be dated, shall bear interest at such rate or rates, shall mature at such times as maybe determined by resolution of the Board, and may be made redeemable before maturity, at the option of the District, at such price or prices and under such terms and conditions, all as may be fixed by the Board. Said Obligations shall mature not later than forty (40) years after their issuance. The Board shall determine by resolution the form of the Obligations, the manner of executing such Obligations, and shall fix the denominations of such Obligations, the place or places of payment of the principal and interest, which maybe at any bank or trust company within or outside of the State of Florida, and such other terms and provisions of the Obligations as it deems appropriate. The Obligations maybe sold at public or private sale for such price or prices as the Board shall determine by resolution. The Obligations may be delivered to any contractor to pay for the provision of Capital Improvements or may be sold in such manner and for such price as the Board may determine by resolution to be for the best interests of the District. 11 SECTION 4.03. VARIABLE RATE OBLIGATIONS. At the option of the Board, Obligations may bear interest at a variable rate. SECTION 4.04. TEMPORARY OBLIGATIONS. Prior to the preparation of definitive Obligations of any series, the Board may, under like restrictions, issue interim receipts, interim certificates, or temporary Obligations, exchangeable for definitive Obligations when such Obligations have been executed and are available for delivery. The Board may also provide for the replacement of any Obligations which shall become mutilated, destroyed or lost. Obligations may be issued without any other proceedings or the happening of any other conditions or things other than those proceedings, conditions or things which are specifically required by this Resolution. SECTION 4.05. ANTICIPATION NOTES. In anticipation of the sale of Obligations, the Board may, by resolution, issue notes and may renew the same from time to time. Such notes may be paid from the proceeds of the Obligations, the proceeds of the Assessments, the proceeds of the notes and such other legally available moneys as the Board deems appropriate by resolution. Said notes shall mature within five (5) years of their issuance and shall bear interest at a rate not exceeding the maximum rate provided by law. The Board may issue Obligations or renewal notes to repay the notes. The notes shall be issued in the same manner as the Obligations. SECTION 4.06. TAXING POWER NOT PLEDGED. Obligations issued under the provisions of this Resolution shall not be deemed to constitute a general obligation or pledge of the full faith and credit of the District or St. Lucie County within the meaning of the Constitution of the State of Florida, but such Obligations shall be payable only from Pledged Revenue and, if applicable, proceeds of the Assessments, in the manner provided herein and by the resolution authorizing the Obligations. The issuance of Obligations under the provisions of this Resolution shall not directly or indirectly obligate the District or the County to levy or to pledge any form of ad valorem taxation whatsoever. No holder of any such Obligations shall ever have the right to compel any exercise of the ad valorem taxing power on the part of the District or the County to pay any such Obligations or the interest thereon or to enforce payment of such Obligations or the interest thereon against any property of the District or St. Lucie County, nor shall such Obligations constitute a charge, lien or encumbrance, legal or equitable, upon any property of the District or St. Lucie County, except the Pledged Revenue. SECTION 4.07. TRUST FUNDS. The Pledged Revenue received pursuant to the authority of this Resolution shall be deemed to be trust funds, to be held and applied solely as provided in this Resolution and in the resolution authorizing issuance of the Obligations. Such Pledged Revenue may be invested by the District, or its designee, in the manner provided by the resolution authorizing issuance of the Obligations. The Pledged Revenue upon receipt thereof by the District shall be subject to the lien and pledge of the holders of any Obligations or any entity other than the District providing credit enhancement on the Obligations. SECTION 4.08. REMEDIES OF HOLDERS. Any holder of Obligations, except to the extent the rights herein given may be restricted by the resolution authorizing issuance of the Obligations, may, whether at law or in equity, by suit, action, mandamus or other proceedings, protect and enforce any and all rights under the laws of the state or granted hereunder or under such resolution, and may enforce and compel the performance of all duties required by this part, or by such resolution, to be performed by the District. 12 PASSED AND DULY ADOPTED this /~~~~fday of~ 2011. ATTEST: r epu~y Clerk EROSION DISTRICT BOARD ST. LUCRE COUNTY,~~DA ,, / \ ~~! r ~--- ~/''~ airman APPROVED AS TO FORM AND CORRECTNESS: ~p~- County Attorney 14 SECTION 4.09. REFUNDING OBLIGATIONS. The District may, by resolution of the Board, issue Obligations to refund any Obligations issued pursuant to this Resolution, or any other obligations of the District issued to finance Capital Improvements, and provide fox the rights of the holders hereof. Such refunding Obligations may be issued in an amount sufficient to provide for the payment of the principal of, redemption premium, if any, and interest on the outstanding Obligations to be refunded. If the issuance of such refunding Obligations results in an annual Assessment that exceeds the maximum amount established in the notice provided pursuant to Section 2.06 hereof, the Board shall provide notice to the affected property owners and conduct a public hearing in the manner required by Article II of this Resolution. ARTICLE V GENERAL PROVISIONS SECTION 5.01. SEVERABILITY. The provisions of this Resolution are severable; and if any section, subsection, sentence, clause or provision is held invalid by any court of competent jurisdiction, the remaining provisions of this Resolution shall not be affected thereby. SECTION 5.02. ALTERNATIVE METHOD. This Resolution shall be deemed to provide an additional and alternative method for the doing of the things authorized hereby and shall be regarded as supplemental and additional to powers conferred by other laws, and shall not be regarded as in derogation of any powers now existing or which may hereafter come into existence. This Resolution, being necessary for the health, safety and welfare of the inhabitants of the District, shall be liberally construed to effect the purposes hereof. SECTION 5.03. REPEALER. Any resolution of the District or parts thereof in conflict herewith are hereby superseded and repealed to the extent of such conflict. SECTION 5.04. ADMINISTRATION AND COLLECTION COSTS. Assessments imposed hereunder may include an administrative and collection cost component to fund or otherwise reimburse the District for expenses incurred in developing, administering and maintaining Assessment programs authorized hereunder, including but not limited to publication and mailing expenses, legal and professional fees, fees imposed by the Tax Collector and Property Appraiser pursuant to the Uniform Assessment Collection Act and amounts as necessary to account for any statutory prepayment discounts afforded by Chapter 197, Florida Statutes. SECTION 5.05. EFFECTIVE DATE. This Resolution shall take effect immediately upon adoption. AFTER MOTION AND SECOND, the vote on this Resolution was as follows: Chair Frannie Hutchinson AYE Vice Chair Tod Mowery AYE Commissioner Christopher Dzadovsky AYE Commissioner Paula A. Lewis AYE Commissioner Chris Craft AYE 13