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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 :~~~:~;~ ~ ,..._.. . : . . .. .:.. ._ : : . , . :,.. ~ " ,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 **,~~*,~*~,~***~* DO NOT SEPARATE PAGES ~ Packet Pg. 71 I ~ I 7.B.4.a I H ~ ~ W N ~ a ~ ~ O Z ~ ~ I ~ W 0 I W = d Q 2 d 4- ~ ~ C tlJ Q Iti N a F`- c~ u~. 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(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,-- - . - ------- --- - - __ __. _..._ ------ - ---- ---pC~dQd4~4d~rT32$Q;_~._ .__- ---- -- -- ---- ..-~ ~____~_-~ E~4I~:LgIIC.":---- ------_-__ ..- ----- -----------...--- - -- ----- -- ---- -- 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