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HomeMy WebLinkAbout20-098 RESOLUTION NO. 20-098 A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF ST. LUCIE COUNTY, FLORIDA PROVIDING CONSENT TO THE FLORIDA DEVELOPMENT FINANCE CORPORATION TO THE ISSUANCE OF REVENUE BONDS ON BEHALF OF A-1 ROOF TRUSSES LTD., COMPANY TO FINANCE AND REFINANCE THE EXPANSION OF MANUFACTURING FACILITIES 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: WHEREAS,the Florida Development Finance Corporation(the "Issuer") was created by the Florida Development Finance Corporation Act, Chapter 288, Part X, Florida Statutes (the "Act") which provides, in part, that the Issuer may issue bonds to finance and refinance projects for the benefit of 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 WHEREAS, the Issuer and St. Lucie County, Florida (the "County") have previously entered into an Interlocal Agreement,dated November 27,2007,a copy of which is attached hereto as Exhibit "A," which permits the Issuer to issue bonds to finance and refinance projects located within the jurisdictional limits of the County, subject to the County's reserved right to consent to each such project; and WHEREAS, the Issuer has received a request on behalf of A-1 Roof Trusses Ltd., Company, a Florida corporation, duly organized and existing under the laws of the State, and/or its affiliates, subsidiaries or related entities (collectively, "A-1 Roof') requesting the issuance of its revenue bonds (the "Bonds") for the purpose of financing or refinancing, on a taxable or tax- exempt basis (1) the expansion of a roof truss manufacturing facility and the acquisition of equipment to be owned and/or operated by A-1 Roof, located on approximately 20 acres of property, with an address of 4451 St. Lucie Boulevard, Fort Pierce, Florida 34946, in St. Lucie County, Florida, (2) refinancing prior indebtedness of A-1 Roof with respect to such facilities, (3) funding necessary reserves, if any, and (4) paying certain costs of issuance associated with such financing (collectively, the "A-1 Roof Project"); and WHEREAS, as a result of the anticipated economic benefits associated with the A-1 Roof Project, the issuance of bonds for the purposes of financing and refinancing the A-1 Roof Project is deemed to be in the best interests of the citizens of the County. NOW THEREFORE, BE IT RESOLVED by the Board of County Commissioners of St. Lucie County, Florida as follows: 4829-4003-5257 v.1 Section 1. Recitals. The foregoing recitals are true and correct and are hereby incorporated herein by reference. Section 2. Consent to Issuance of the Bonds. Based upon the foregoing, and pursuant to the terms of the Interlocal Agreement, the Board hereby consents to the issuance by the Issuer of the Bonds for the purposes of financing or refinancing the A-1 Roof Project. Section 3. Limitation. The issuance of 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 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 shall not be construed as an approval of any zoning application or any regulatory permit required in connection with the A-1 Roof Project, nor creating any vested rights with respect to any land use regulations, and the County 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 Board of County Commissioners of the financial feasibility of the A- 1 Roof Project or of any financial matters with respect to either the A-1 Roof Project, A-1 Roof, or the Bonds. Section 5. Repealing Clause. All restrictions or resolutions or portions thereof in conflict herewith are, to the extent of such conflict, hereby superseded and repealed. Section 6. Effective Date. This resolution shall take effect immediately upon its adoption. 2 PASSED AND ADOPTED THIS 19TH DAY OF MAY, 2020. BOARD OF COUNTY COMMISSIONERS (SEAL) ST. LUCIE COUNTY, FLORIDA By: Chair ATTEST: Depu Clerk 00 APPROVED AS TO LEGAL FORM AND 0 ' CORRE NESS: County Atto y Exhibit A: Interlocal Agreement 3 EXHIBIT A INTERLOCAL AGREEMENT JOSEPH E.SMITH,CLERK OF THE CIRCUIT COURT SAINT LUCIE COUNTY This instrument was prepared by or under the OR BOOK 3153 PAGE 2259,2263 Doc Type:AGR supervision of(and after recording should be returned to): RECORDING: $44.00 Joseph B. Stanton, Esq. Broad and Cassel 390 N. Orange Ave. Suite 1400 (Space reserved for Clerk of Court) Orlando, Florida 32801 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 "Legislature") 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 Interlocal 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 ORLIIPFCP1955838.1 39753/0002 AS rm 11/7/2007 1:45 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 Boulevard, 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; b. 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 c. 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; d. 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 Operations 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 filed with the Clerk of the Circuit Court of St. Lucie County, as required by law. 2 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 WITNESS WHEREOF, the County and the FDFC have caused this Agreement to be executed by their duly authorized representatives. [Signatures continue next page] 3 FLORIDA DEVELOPMENT FINANCE CORPORATION By: �--✓� Its: bi..„-e ,d Cc+ar STATE OF FLORIDA COUNTY OF () e SWORN TO AND SUBSCRIBED before me this /(iM day of ' )Cern bo r , 20 p'? by ()e 40 n LA)DOA r0/ De-ec V who is personally known to me or t/ who produced (_/Dri r (.Crns C as identification. Sibture of Notary P lic (Print Name of Notary Public) Commission Expires: Commission # ,,,, , GENNIVES BROWN i' Notary Public-State of Fbdde • '‘ •pki Commssion Expi is Feb 23,2011 ` ,,' off�;d• Commission 1�DO 60e113 r •[Signatures continue next page] Bonded ThraytlNabaWNotaryAssn 4 ORL1\PFCPP955838.1 39753/0002 AS rm 11/7/2007 1:45 PM ST. LUCIE COUNTY,FLORIDA By: d.ElvJ d: 41/-7—d' ts: Chairman � 3P 4 ATTEST: : , r 0 At TO FOk1�/ X r 60AAES?MEN: Clerk of the ircuit C `'w,..' t STATE OF FLO I A . COUNTY OF .(,4 SWORN TO AND SUBSCRIBED before me this 011 day of NOJ¢1164.A ' , 20 07 byPAULA A . Gusts / who is personally known to me or Who produced as identification. ecutee, a ."8 0 V 60-kvi '°e,, Carol A. Bishop Signature of Notary Public * � ,Commission#DD323640 `�, a` Expires May 26, 2008 te,-or 110.100 Troy Pun Inwu.no•.Inc 900-3*'-1019 , (Print Name of Notary Public) Commission Expires: Commission# 5 ORL1\PFCP\955838.1 39753/0002 AS rm 11/72007 1:45 PM