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HomeMy WebLinkAbout03-113RESOLUTION NO. D~II,-3 A RESOkUTION OF THE BOARD OF COUNTY COMMISS:ONERS OF ST. LUCIE COUNTY, FLORIDA APPROVING FOR THE PURPOSES OF SECTION 147(f) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED, THE ISSU4,NCE OF NOT TO EXCEED $2,250,000 OF INDUSTRIAL DEVELOPMENT REVENUE BONDS BY FLORIDA DEVELOPMENT FINANCE CORPORATION TO FINANCE ~ MANUFACTURING FACILITY WITHIN ST. LUCIE CO-JNTY; AND PROVIDING AN EFFECTIVE DATE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF ST. LUCIE COUNTY (THE ' BOARD"), FLORIDA: Section 1. declared: Findings and Recitals. It is hereby found, ascertained, determined and A. Florida Development Finance Corporation (the "Issuer") was created by the Florida Development Finance Coq:oration Ack Chapter 288, Part IX, Florida Statutes (the "Act"), which provides, in part that the Issuer may issue revenue bonds to finance projects in St. Lucie County (the "County"), for the benefit o-approved Florida businesses to enhance the economic development of the State of Florida, provided that the Issuer has entered into an interlocal agreement with the local governmental agency in which the project will be located; B. The Issuer and the County have previously entered into an interlocal agreement pursuant to the Act and the Florida Interlocal Cooperation Act of 1969, as amended (to the extent that the exercise of such powers is consistent with the purposes of the Act) to permit the Issuer to issue revenue bonds to finance projects located within the jurisdictional limits of the County; C. The Issuer intends to issue revenue bonds in an amount not to exceed $2,250,000 to finance a manufacturing project for the benefit of Twin Vee PowerCats, Inc., (the "Company"), which project will be located at the following address in the County, 3101 S Federal Highway, Ft. Pierce, to be operated by th~ Company (or a subsidiary thereof)(the "Project"); D. The Internal Revenue Code of 1986, as amended (the "Code"), requires that the Board as the highest elected body of the County, approve the issuance of the bonds by the Issuer after a public hearing has been conducted by the Issuer; E. The Issuer c ~nducted a public hearing within the County on March 27, 2003; notice of such hearing, as evidenced by the attached Exhibit "A," was given in the form and manner required by law and interested individuals were afforded reasonable opportunity to express their views both orally and in wr.ting, on all matters pertaining to the proposed project and the proposed issue of bonds; F. The minute.' of the public hearing held by the Issuer, containing all comments and concerns, expressed orally and in writing, are attached hereto as Exhibit "B;" and 1OR486025;I } G. It is desirable and in the best interest of the County that the proposed bonds be approved by the Board. Section 2. Approval of Bonds. Solely for the purposes of Section 147 (f) of the Code, the Board hereby approves the issuance of the proposed bonds by the Issuer and the use of the proceeds to finance the prol:osed Project in the County. Section 3, Limitation. The bonds approved hereunder and the interest thereon shall not constitute an indebtedness or pledge of the general credit or taxing power of the County', the State of Florida or any political subdivision or agency thereof but shall be payable solely from the revenue pledged therefor pursuant to a loan agreement and/or other financing agreement entered into by the Issuer prior to or contempo-aneously with the issuance of the bonds. The approval given herein is solely for the purposes of Section 147(f) of the Code and shall not be construed as an approval of any zoning application or any re gulatory permit required in cormection with such Project nor creating any vested rights with respect to any land use regulations, and this Board shall not be construed by virtue of its adoption of this Resolution to have waived, or be estopped from asserting, any authority or responsibilities it may have in that regard. Section 4. Repealing Clause. All restrictions or resolutions or portions thereof in conflict herewith are, to the extent of such conflict, hereby superseded and repealed. Section 5. adoption, Effective Date. This resolution shall take effect immediately upon its Upon motion b¢ Douej Coward vote on this 6thday of John Bruhn and seconded by , the forgoing resolution was passed by the following ,20 BOARD OF COUNTY COMMISSIONERS OF ST. LUCIE COUNTY, FLORIDA By: ~ Name: ('ff/'~?~ r ma~ Title: County, Florida { OR486025: I } 2 EXHIBIT A SCRIPPS TREASURE COAST PUBLISHING COMPANY Fort Pierce Tribune Port St. Lucie Tribune 600 Edwards Road, Fort Pierce, FL 34982 AFFIDAVIT OF PUBLICATION STATE OF FLORIDA COUNTY OF~ST. LUCIE Before the undersigned authority personally appeared, S. Darlene Mailing, who on oath says that she is Classified inside Sales Manager of the Fort Pierce Tribune and the Po~t St. Lucle Tribune, a daily newspaper published st Fort Fierce in St. Lucia County, Florida: that the attached copy of ~dver~semen'~ was published in the Fort PlarcetPort St. Lucia Tribune in ~he following issues belaw. Affiant further says that the said Fort Pierce~'Port St. Lucia THbur~e is a newspaper pLl~lished in Fort Pierce in said St. Lucia County, Florida, and that said newspaper has heretofore been contlnuoush/published in said St. Lucia Count~, Florida daih/arid distributed in St. Lucia County, Florida, for a period ef eno year next preceding the first publication of the attached copy of advertisement; and afflan'i further says that she has neither paid nor promised any person, firm or co~eration any discount, rebate, commJssten or refund for the purpose of securing this advettisement f~)r publication in the said newspaper. The Fort Pierce T-ibune has been entered as second class matter at the Post Office iD Fort Pierce, St. Lucia County. Ftedda and ~'as been for a period of one year next preceding the first publication of the attached copy of advertisement. Ad ,~ Customer Name Pub Cogvline PO # Date 2651241 ENTERPRISE FLORIDA 03'12/2003 Twin Vee 3/27/03 Subscribed and sworn to me before ~[his date: 03/12/2003 I Cpm~}s ~ ~b~.preier~e{I EXHIBIT B Florida Development Finance Corporation Ex }tact from Report of Public Hearing EXTRACT from the report of the Public Hearing held at the offices of Economic Development Council - St. Lucie County, 540 North California Blvd., Port St. Lucie on March 27, 2003 at 11:0( a.m. regarding the proposed issuance by the Corporation of its Industrial Development Revenue Bonds for Roger Dunshee and Twin Vee PowerCats, Inc. Present on behalf of the Florida Development Finance Corporation was Louis Laubscher, Executive Director of the corporation. Also present were David East, Vice President of Twin Vee PowerCats., Inc., and Ron Manchek~ Lead Developer, Economic Development Council. Mr. Laubscher announced that public notice of the hearing was given according to statutory requirement of the Internal Revenue Code #147(f). No objection to the proj zct was made by any person either at the hearing or by written communication prior to the hearing. The project was found to be an eligible project pursuant to the Florida Development Finance Corporation Act of 1993, as amended, and to have met applicable criteria. For this reason and for economic benefits that will accrue to the community, the F orida Development Finance Corporation recommends approval of the Project by the Bo ird of County Commissioners of St. Lucie County and the Governor of Florida.