HomeMy WebLinkAbout24-012RESOLUTION NO.24-012
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"), either as the County or sitting as
the St. Lucie County Water and Sewer District, 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 or solid waste revenues
in enterprise funds 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
$50,000,000 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 and/or solid waste revenues of the County
or St. Lucie County Water and Sewer District. The expenditures to be 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 be a declaration of official intent under such Section.
SECTION 4. This resolution shall take effect immediately.
ADOPTED this 9th day of January 2024.
ATTEST:
ST. LUCIE COUNTY, FLORIDA
Chair, Boar f County Commissioners
APPROVED AS TO FORM AND
CORRECTNESS:
Dep ty Clerk of t e rcuit Court and
ex Officio Clerk of e Board of County
Commissioners
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