HomeMy WebLinkAbout13-126RESOLUTION NO. 2013-126
A RESOLUTION OF THE BOARD OF COUNTY
COMMISSIONERS OF ST. LUCIE COUNTY, FLORIDA
APPROVING FOR THE PURPOSES OF SECTION 147(fl
OF THE INTERNAL REVENUE CODE OF 1986, AS
AMENDED, THE ISSUANCE OF NOT TO EXCEED
$20,000,000 OF INDUSTRIAL DEVELOPMENT REVENUE
BONDS BY THE FLORIDA DEVELOPMENT FINANCE
CORPORATION TO FINANCE EDUCATIONAL
FACILITIES ON BEHALF OF RENAISSANCE CHARTER
SCHOOL WITHIN ST. LUCIE COUNTY AND RELATED
COSTS; 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,
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 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 $20,000,000
of its Educational Facilities Revenue Bonds (Renaissance Charter Schools, Inc. Project), Series
2013 (the "Bonds"), in one or more tax-exempt and taxable bonds. The proceeds of the Bonds
will be loaned by the Issuer to Renaissance Charter School, Inc. and Red Apple Development,
LLC and/or one or more of their affiliates (collectively, the "Borrowers"). The Borrowers will
use the proceeds of the Bonds to (A) finance or refinance the cost of (or reimburse themselves
for prior expenditures for) acquisition, construction, renovation and equipping of an
approximately 64,466 square foot building and ancillary facilities expected to be operated as
educational facilities, located at 10900 SW Tradition Pkwy, Port St. Lucie, St. Lucie County,
Florida 34987 (the "Project"); (B) pay costs associated with the issuance of the Bonds.
4845-9467-797: I
D. The Internal Revenue Code of 1986, as amended (the "Code"), requires that the
Board as the highest elected body of the County, approve the issuance of the bonds by the Issuer
after a public hearing has been conducted by the Issuer; and
E. Notice of a public hearing conducted by the Issuer, as evidenced by the attached
Exhibit A, was given in the form and manner required by law, as published in St. Lucie News-
Tribune, a newspaper of general circulation in St. Lucie County, Florida on June 13, 2013,
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, containing all
comments and concerns, expressed orally and in writing, are attached hereto as Exhibit B; 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 Code; 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 Section 147( fl of the
Code, 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.
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 of Florida 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 Section 147(~ of the Code 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. Additionally, the approval granted herein shall not be construed as approval by the
County of the financial feasibility of the Project or of any financial matters with respect to the
Project, the Company or the bonds. The approval granted herein is subject to the condition that
any offering or sale of the proposed bonds be accompanied by such offering documents as are
necessary, in the opinion of counsel to the Issuer, to comply with the provisions of Rule l Ob-5 of
the Securities and Exchange Commission, and that such offering documents contain therein a
recital that such offering documents and the terms of and security for the proposed bonds have
not been reviewed by and not been approved by the County and that the County makes no
representations as to the bonds or the security therefore.
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.
2
4845-9487-7972 I
Section 5. Effective Date. This resolution shall take effect immediately upon its
adoption.
PASSED AND ADOPTED this 16th day of July 2013.
ATTEST:
B . ~ ~~
De uty Cle
.~
~
~~
aeas-9aa~-~9r_ i
BOARD OF COUNTY COMMISSIONERS
ST. LUCIE COUNTY, FLORIDA
By: ~ ~
Chairman
APPROVED AS TO FORM AND
CORRECTNESS:
By: ~
~ County ~ttor ey
3
~ ~
l,
~r`~ o
. ~, _~ .
EXHIBIT A
COPY OF NOTICE OF PUBLIC HEARING
[Attached]
4845-9487-7972 I
EXHIBIT B
EXTRACT OF MINUTES OF PUBLIC HEARING
[Attached]
4845-9487-7972 I
x
~ 7.B.4.a ~
`~~~ SCRIPPS TREASURE COAST
~ ~ NEWSPAPERS
~~ St. Lucie News-Tribune
600 Edwards Road, Ft Pierce, FL 34982
k7~~YYS AFFIDAVIT OF PUBLICATION
~
S7ATE OF FLORIDA
COUN7Y OF ST. IUCIE
Befo2 the urderslpned authoriry personaly appea~ed, Tereilz Goud, who on oath says ihat she is Classified Iruide Sales
Supervlsor of ihe SL Lucla News-Trlbune. a daily newspaper pt~tished at Forl Pierca in SL Lucie Counly, Fbrida: tliat the
attached wpy of adveNsement was puhlshed In lhe SL Lucie News-Trlb~ma in the idlowiny iuues below. Afiant furthar says
ihet ihe said Sl Lucle News-7rtbune is a rrewspaper publ'ahed In Fat Pierce, fi said SL Lucia Courdy, Flaida, and that said
nawspaper has heretofore been confiiuously published in said SC Lucie County, Florida, daily and disUibuted in SL Lucle
County, Florida, for a pe~fad ol ane y~ar nex~ precediny Nia first publicatbn ot the aUached copy oi advertisemeM: and affiant
further says thal she has neither paid or promised any perwn, firtn or corpotation ary discount, rebale, commission or refund for
the purpose of securing this advertisamentfor pudkation In the said newspaper. The SL Lucle News-Tribuie has been entered
as Periodical Matter at the Post ORloes in FoA Pierce, SL Lucle County, Flor(da and has been ta a period of one year next
precedlnp the lkst pubBcatlon of the attached copy of adverllsemeM.
Ad Pub
Customer Number Date Copvline
BROAD AND CASSEL 2525077 6l13/2013 PUBLIC HEARING
Sworn to and subscribed before me this dey of, June 13, 2013, by
(. ~p~e~c~ (~2'z~1 , who is
Tereliz Cloud
[X] personally known to me o~
[ J who has produced as identification.
. J
-~~ .~'~~~
~ Michael Merone Notary Public
:~~~:~;~ ~
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~ " ,MICHJIEL MEAONE. ,
Nppry Pr11ic-= Sl~t~. 01 FlaIQ~: _
' r~ My Comen~ Fxpin: Msy 20. 2011
. :. EomrMstbn A! DD 99~177 .
PO #
HEARING 6/28/13
NEWSPAPER E-Sheet~
LEGAL NOTICE
ATTACHED
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Attachment: Renaissance Charter School Bonds 2013. (1428 : Florida Development Finance Corporation - Revenue Bonds for Renatssance p1
.
~ 7.B.4.a ~
Fiorida Development
___._ __~ ____.__ _._.____ _ ~_ - - .- ~.._____ r
-- ---_ _.,____ ._ -- --
-- ffb0-ll.Nlagnolia~Avenue-..~-" --W ~ __ --- -~r40~956~00 -- ---- ---
_ _ ___._..._._ _ _ .___ ___. .__~..~._~. ._ . ----- ..
- ----Suite-1~06----- ------ ~==---~----_--- -_"~ "~._~.F:-407:956~5599,-- - . - -------
--- - - __ __. _..._ ------
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----- -----------...--- - -- ----- -- ---- --
Finance Corpo~ation
Florida Development Finance Corporation
Extract from Report of Public Hearing
EXTRACT from the report of the Public Hearing held at The Economic Development
Council of St. Lucie County, Inc., located at Indian River State College, STEM Building (Building
S), 500 NW Califomia Blvd., Po~t St. Lucie, FL 34986 on June 28, 2013 regarding the proposed
tax-exempt issuance by Florida Development Finance Corporation ("Corporation") of its
Educational Facilities Revenue Bonds for Renaissance Charter School, Inc. ("School") for the
purpose of finance or refinance the cost of (or reimburse themselves for prior expenditures for)
acquisition, construction, renovation and equipping of an approximately 64,466 square foot building
and ancillary facilities expected to be operated as educational facilities, located at 10900 SW
Tradition Pkwy, Port St. Lucie, St. Lucie County, Florida 34987 (the "ProjecY').
Present on behalf of the Corporation was Bill Spivey. Also present was Jackie Bylsma who
was neither for nor against the Project.
Mr. Spivey announced that public notice of the hearing was given according to statutory
requirement of the lnternal Revenue Code Section 147(fl.
No objection to the Project was made by any person either at the hearing or by written
communication prior to the hearing. The Corporation finds that the Project is 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 Corporation recommends approval for the Project by the St. Lucie County Board of
County Commissioners and by the Governor of Florida.
~ Packet Pg. 74 ~
% ~
~ 7.B.4.a ~
FLORIDA DEVELOPMENT FINANCE CORPORATION
Educational Facilities Revenue Bonds, Series 2013
Renaissance Charter Schools Inc. for Renaissance Charter School at Tradition
TEFRA Public Hearing
June 28, 2013 -11:OOam
at
Indian River State College, STEM Building (Building S)
500 NW Califomia Blvd.
Port St. Lucie, FL 34986
A~1~~1~~;NDANCE LOG
~ll.l. S~I~I~y
`~J a~lc~~~ f ~ ( s m ~._
I Packet Pg. 75 1