HomeMy WebLinkAbout20-116 RESOLUTION NO. 20-116
A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF ST.
LUCIE COUNTY, FLORIDA, APPROVING THE ISSUANCE BY THE HOUSING
FINANCE AUTHORITY OF ST. LUCIE COUNTY OF ITS MULTIFAMILY
HOUSING REVENUE BONDS, SERIES 2020 IN THE AGGREGATE AMOUNT
NOT TO EXCEED $38,000,000 TO PROVIDE FUNDS TO FINANCE THE
MULTIFAMILY RESIDENTIAL RENTAL HOUSING PROJECT FOR THE
BENEFIT OF SP SANDS LLC,A FLORIDA LIMITED LIABILITY COMPANY,OR
ITS AFFILIATE;AND PROVIDING AN EFFECTIVE DATE.
WHEREAS,the Housing Finance Authority of St.Lucie County,Florida(the"Authority")
has authorized the initiation of official action to issue its Multifamily Housing Revenue Bonds,
Series 2020 (Sands at St. Lucie Apartments) (the "Bonds") on behalf of SP Sands, LLC, a Florida
limited liability company, to provide financing or refinancing for the acquisition, construction
and equipping of a residential rental facility to be known as Sands at St. Lucie Apartments, to
consist of approximately 320 units to be located at 2750 US Highway 1, Fort Pierce, Florida; and
WHEREAS, the Authority conducted a public hearing on May 27, 2020, notice of which
hearing was published on May 20, 2020, in the News Tribune (a copy of which notice is attached
hereto as Exhibit"A" and incorporated herein),for the purpose of considering the issuance of the
Bonds by the authority in the aggregate principal amount not to exceed $38,000,000, in
conformance with the requirements of Section 147(f) of the Internal Revenue Code of 1986, as
amended. Said public hearing disclosed no reason why the Bonds should not be issued.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS OF ST. LUCIE COUNTY, FLORIDA:
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Section 1. This Resolution is adopted pursuant to the requirements of Section 147(f)
of the Internal Revenue Code of 1986, as amended, and other applicable provisions of law.
Section 2. The Board of County Commissioners (the "Board") of St. Lucie County,
Florida, hereby approves the issuance by the Authority of its not to exceed $38,000,000
Multifamily Housing Revenue Bonds(Sands at St.Lucie Apartments),Series 2020, to be issued in
one or more series at one or more times pursuant to a plan of finance approved by the Authority.
Section 3. Nothing contained in this consent and approval shall be deemed to create
any obligation or obligations of St.Lucie County or the Board of County Commissioners.
Section 3. This resolution shall take effect immediately upon its adoption.
Passed and Adopted this 16th day of June, 2020, at a regular meeting called and held.
ST. LUCIE COUNTY, FLORIDA
(SEAL)
By:
Chair, Board o
County Commissioners
ATTEST:
By:
D puty Clerl
p APPROVED AS TO FORM
V AND CORRECTNESS:
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County Attorney
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