HomeMy WebLinkAbout14-142RESOLUTION NO. 14-142
A RESOLUTION OF ST. LUCIE COUNTY, FLORIDA, ESTABLISHING ITS INTENT TO
REIMBURSE CERTAIN CAPITAL EXPENDITURES INCURRED WITH PROCEEDS OF
A FUTURE TAX-EXEMPT FINANCING; PROVIDING CERTAIN OTHER MATTERS IN
CONNECTION THEREWITH; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the Board of County Commissioners of St. Lucie County, Florida (the "County") has determined
that the need exists to incur debt in order to finance capital improvements including the acquisition and
construction of an administration building to house governmental operations of the County, including but not
limited to a branch office for operations of the St. Lucie County Tax Collector as contemplated by section 197.332,
Florida Statutes (the "Project").
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF ST. LUCIE COUNTY,
FLORIDA:
SECTION 1. AUTHORITY. This resolution (the "Resolution") is adopted pursuant to the provisions of the
Constitution of the State of Florida, Chapter 125, Florida Statutes, and other applicable provisions of law.
SECTION 2. DECLARATION OF INTENT. The County hereby expresses its intention to be reimbursed from
proceeds of a future tax-exempt financing for capital expenditures to be paid by the County prior to the incurrence
of debt for the purpose of designing, permitting, constructing, acquiring and equipping the Project. Pending
reimbursement, the County expects to use funds on deposit in the general fund and other legally available funds to
pay a portion of the costs related to the Project. It is reasonably expected that the total amount of debt to be
incurred by the County with respect to the Project will not exceed $7,000,000. This Resolution is intended to
constitute a "declaration of official intent" within the meaning of Section 1.150-2 of the Income Tax Regulations
which were promulgated pursuant to the Internal Revenue Code of 1986, as amended, with respect to the debt
incurred, in one or more financings, to finance the Project.
SECTION 3. SEVERABILITY. If any one of more of the provisions of the Resolution shall for any reason be
held illegal or invalid, such illegality or invalidity shall not affect any other provision contained therein.
SECTION 4. REPEALER. All resolutions or orders and parts thereof in conflict herewith are, to the extent
of such conflicts, hereby superseded and repealed.
SECTION 5. EFFECTIVE DATE. This Resolution shall take effect immediately upon its adoption.
DULY PASSED AND ADOPTED this 16 day of September, 2014, at a regular meeting of the Board of County
Commissioners of St. Lucie County, Florida.
ATTEST:
DEPUTY CLERK
BOARD OF COUNTY COMMISSI
STCOUIVTY, FLORID j
CHAIR
APPROVED O LEGAL FOR
CORRECTNESS: _ /) ., ~ ,~
COUNTY ATTO
{2 5048/02 3/008 74083. D O Cv2}