HomeMy WebLinkAbout22-211 RESOLUTION NO. 22-211
A RESOLUTION OF ST. LUCIE COUNTY, FLORIDA
ESTABLISHING ITS INTENT TO REIMBURSE
CERTAIN EXPENDITURES IN CONNECTION WITH
CAPITAL IMPROVEMENTS RELATED TO
EXTENSION OF SEWER UTILITY FACILITIES, AS
MORE PARTICULARLY DESCRIBED HEREIN,
INCURRED WITH PROCEEDS OF A FUTURE
TAXABLE OR TAX-EXEMPT FINANCING OR
FINANCINGS; PROVIDING CERTAIN OTHER MATTERS IN
CONNECTION THEREWITH; AND PROVIDING AN
EFFECTIVE DATE.
WHEREAS, the Board of County Commissioners of St. Lucie County, Florida,
which also serves as the board of the St. Lucie County Water and Sewer District(the"Issuer")
has determined that the need exists to incur debt in order to finance the costs of all or a portion
of capital improvements consisting of constructing, acquiring and equipping certain capital
improvements for the extension of sewer utility facilities in the area of North Hutchinson
Island.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS OF ST. LUCIE COUNTY, FLORIDA:
SECTION 1. AUTHORITY. This Resolution is adopted pursuant to Section
1.150-2 of the Income Tax Regulations which were promulgated pursuant to the Internal
Revenue Code of 1986,as amended,the Constitution of the State of Florida,Chapter 125,
Florida Statutes, Chapter 159, Parts I and VII, Florida Statutes and other applicable
provisions of law.
SECTION 2. DECLARATION OF INTENT. The Issuer hereby expresses its
intention to be reimbursed from proceeds of a future taxable or tax-exempt financing or
financings for capital expenditures to be paid by the Issuer prior to the incurrence of debt
for the purpose of constructing, designing, permitting, acquiring and equipping certain
capital improvements for the extension of sewer utility facilities in the area of North
Hutchinson Island(collectively,the "Project").Pending reimbursement,the Issuer expects
to use legally available funds to pay such costs including but not limited to capital
expenditures, costs of design and engineering, and other costs related to the Project. It is
reasonably expected that the total amount of debt to be incurred by the Issuer with respect
to the Project will be $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
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Resolution shall for any reason be held illegal or invalid,such illegality or invalidity shall not
affect any other provision contained therein.
SECTION 4. REPEALED. All resolutions or orders and parts thereofin 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.
AFTER MOTION AND SECOND,the vote on this Resolution was as follows:
Sean Mitchell, Chair AYE
Frannie Hutchinson, Vice Chair AYE
Linda Bartz, Commissioner AYE
Chris Dzadovsky, Commissioner AYE
Cathy Townsend, Commissioner AYE
PASSED AND DULY ADOPTED this 15th day of November, 2022.
BOARD OF COUNTY COMMISSIONERS
OF ST. LUCIE COUNTY, FLORIDA
ATTEST:
czLpJ��Y C0�'�i
Deputy Clerk lb. Z Vice Chair
411, 4.
001,
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APPROVED AS TO FORM AND
CORREC ESS:
County Attorney
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