HomeMy WebLinkAbout24-093RESOLUTION NO.24-093
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; 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 tourist development tax revenues. 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 $2,000,000 aggregate principal amount. It is
currently the intention of the County to principally secure such tax-exempt debt by a pledge of
tourist development tax revenues of the County. 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 7th day of May 2024.
ATTEST:
ST. LUCIE COUNTY, FLORIDA
air, Board of County Commissi ners
APPROVED AS TO FORM AND
CORRECTNESS:
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Dept1cio
Clerk of th cuit Court and
Ex Deputy Clerk of the Board
of County Commissioners
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