HomeMy WebLinkAbout22-080 RESOLUTION NO. 22-080
A RESOLUTION OF THE BOARD OF COUNTY
COMMISSIONERS OF ST. LUCIE COUNTY, FLORIDA
WITH RESPECT TO REIMBURSEMENT OF CERTAIN
COSTS AND EXPENDITURES RELATING TO CAPITAL
IMPROVEMENTS IN AND FOR ST. LUCIE COUNTY,
FLORIDA.
WHEREAS, St. Lucie County, Florida (the "County") will incur various costs and
expenditures relating to capital improvements in and for the County; and
WHEREAS, the County has determined it is in its best interest to reimburse such costs
from proceeds of tax-exempt debt, which may be issued in separate series from time to time; and
WHEREAS, the United States Department of Treasury has issued various regulations in
regard to reimbursement of governmental costs through the issuance of tax-exempt debt;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS OF ST. LUCIE COUNTY, FLORIDA:
SECTION 1. It is the intent of the County to reimburse various costs and expenditures
relating to capital improvements in and for the County. The County reasonably anticipates that it
will pay for such costs and expenditures from water and sewer revenues of the County. It is
reasonably expected that reimbursement of such costs and expenditures shall come from the
issuance of tax-exempt debt which is not expected to exceed SI00,000,000 aggregate principal
amount. It is currently the intention of the County to principally secure such tax-exempt debt by
a covenant to budget and appropriate non-ad valorem revenues of the County and/or a pledge of
water and sewer revenues of the St. Lucie County Water and Sewer District. The expenditures to
he reimbursed shall be consistent with the County's budgetary and financial policy as being the
type of expenditures which shall be paid on a long-term basis.
SECTION 2. The County shall comply with all applicable law in regard to the public
availability of records of official acts (i.e., adoption of this resolution) by public entities such as
the County including making this resolution available to public inspection.
SECTION 3. It is the intent of this resolution to meet the requirements of Treasury
Regulations Section 1.150-2 and to he a declaration of official intent under such Section.
SECTION 4. This resolution shall take effect immediately.
ADOPTED this 3rd day of May 2022.
ST. LUCIE COUNTY, FLORIDA
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Chair, Board of County Commissioners
ATTEST: APPROVED AS TO FORM AND
CORRECTNESS:
1.
Deputy Clerk of the Circ ' cc.p ty � County Attorney
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Commissioners * 0
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