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HomeMy WebLinkAbout13-228RESOLUTION NO. 13-228 A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF ST. LUCIE COUNTY, FLORIDA APPROVING FOR THE PURPOSES OF THE INTERLOCAL AGREEMENT BETWEEN ST. LUCIE COUNTY AND FLORIDA DEVELOPMENT FINANCE CORPORATION, THE ISSUANCE OF REVENUE BONDS BY THE FLORIDA DEVELOPMENT FINANCE CORPORATION TO FINANCE OR REFINANCE THE ACQUISITION, CONSTRUCTION, EQUIPPING AND DEVELOPMENT ACTNITIES ASSOCIATED WITH LAYING AND INSTALLING FIBER OPTIC CABLE BY ALLIED FIBER, LLC, A PORTION OF WHICH WILL BE LOCATED 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, dated November 27, 2007 (the "Interlocal Agreement"), attached hereto as Exhibit A, 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 its Revenue Bonds (Allied Fiber, LLC Project), Series 2013 (the "Bonds"), in one or more series of taxable bonds. The proceeds of the Bonds will be loaned by the Issuer to Allied Fiber, LLC and/or one or more of its affiliates (collectively, the "Borrowers"). The Borrowers will use the proceeds of the Bonds to (A) finance or refinance the cost acquisition, construction, equipping and development activities associated with laying and installing fiber optic cable along the east coast of Florida, a portion of which will be located in St. Lucie County; and (B) pay costs associated with the issuance of the Bonds (collectively, the "Project"). D. The Interlocal Agreement requires that the Board approve the issuance of the bonds by the Issuer; and E. 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 4845-9487-79T- I 4827-0194-306? I 39753.0043 RMA ra JOSEPH E. SMITH, CLERK OF THE CIRCUIT COURT SAINT LUCIE COUNTY FILE # 3901330 11/25/2013 at 03:45 PM OR BOOK 3582 PAGE 665 - 672 Doc Type: RESO RECORDING: $69.50 F. It is desirable and in the best interest of the County that a portion of 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, a portion of which will 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 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. 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 lOb-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. Section 5. Effective Date. This resolution shall take effect immediately upon its adoption. PASSED AND ADOPTED this ~ day of ~v~~~'~'<~ ; 2013. ATTF.CTr By: 4845-9487-797? I R(lARll (lF ('(ITTNTV (`f1MMTCCT(1NFRC 2 4827-0 194-3062 I )9753i004? RMA ra 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 Orlando, Florida 32801 JOSEPH E. SMITH, CLERK OF THE CIRCUIT COURT SAINT LUCIE COUNTY FILE ar 3421287 12!1512009 al 10.48 AM OR BOOK 3153 PAGE 2259.2263 Doc Type: AGR RECORDING. $44 00 (Space rtserved for Clerk ofCourtl 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 "Leb~slature") 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 Interloca] 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 ORLi~PFCA955B38.7 3953'0002 /S r+n ttil."2007 ~ aS PM 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 Boulevazd, 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; 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 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; 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 Oaerations 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 tiled 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 are 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 WITNF,SS WHEREOF, the County and the FDFC have caused this Agreement to be executed by their duty authorized representatives. [Signatures continue next page] FLORIDA DEVELOPMENT FINANCE CORPORATION By: ~~-~ Its: ~~~ ~ ~ d ~ ~ ~ e~~-o r STATE OF FLORIDA COUNTY OF r ~c ~1 SWORN TO AND SUBSCIR,IBED before me this 1(~~ day of ~CPn,~tr' , 200 by T/E~-~0 n (~,UDO~~kfCrt~V -~ 1~~~c ~ who is personally known to me / ~_ who produced ~_~~, ~ ~r~d-~~ LiC~nS Cy as identification. T- ., L. Si tore of Notary P lic (Print Name of Notary Public) Commission Expires: Commission # ,•~w'~•. GENNIVES BROWN NdMy Pubk • SAY d Fbddr ~• ~i ~' • ~f' C~rWon E,tpY~ fib 23.2011 '~%3a~„~'' CommiAfon t OD 60Eti3 [Signatures continue next page] 8or,dwTlwupl,Nacaw ~ 4 ORLPPFCP~95583d. i 39)53'0002 AS rm 11 /712007 t 45 PM ST. LUCIE COUNTY, FLORIDA By ts: Chairman ~% / i~ ~ 4 ATTEST: ~cs ~, ~ ~} c-E _ ~~ -rr ~~ ~',' ~pyEp A= TO FOND, . Y (< IUID l~ppE,C?NEb~: Clerk of the ircuit C ~+ ~ .._ ' "" STATE OF FLO A ~ ; COUNTY OF ~,C .f% _~ SWORN TO AND SUBSCRIBED before me this a7 day of NO~em~C,( , 20 07 by _ PAu~~ ~ .~ewls _._ who is personally known to me or who produced as identification. Y n` o•;~,~„ ;Carol A. Bishop ""~v\ :Commission # DD323640 ~` Expires May 26, 2008 ~ Clr lenre lrv, rim h.v..s• `c SCFy1T014 O RL t~PFC%955838.1 79753'0002 AS rm 71f7/20C7 te5 PM Signature of Notary Public (Print Name of Notary Public) Commission Expires: Commission # 5