Item M4
BOARD OF COll NT\' CO\1MISSIOl'TRS
AGK~ 0'\ ITEM SU\1MAR'\'
\1eeting Date: \lay 18, 2005 - KJ.
Djvlsion~
County .~119.r.n~y
Bulk [lem. Yes ~
\Jo
Department Co~nty Atturney
AGEl\ DA ITKll "'ORDJ ~G;
Approval ofa Resolution oftne Board ofCounly Commissioners. ofMomue CO~1Jlty, Florida \vith respect to
reimbursement of (:~rtaj n costs re!ating tu lhe acquisition, cOl1stmdlol1 <lmj equipping or various Wa::i.lCwatcr
facilities \vithin the County.
ITE,\l B,\CKGROtiNU:
The Federal Tax Code requires an issuer to adopt an "official intent" within 60 days of spending its own fum:Js,
i f th~ j~sLler ~Xrt'ndf; ~ome of il$ own funds fOf a projed and then desires. to rcimbllfse itse! f for atl or il portion
~)f such expenditures. The Resolution prop.l,Ised sat~sfieg this requirement allowi ng for reimburs.emem to the
BOCC ofc~rtain \\'JstC\ViHCr related cost,; expended by lhe BOCC
.
PREVIOlfS Rt:Ll:V,\I\T RaCC ACTIO.\[:
On April :.:0,2005. the Monroe Coumy Industria~ Development Authority ~pproved a Resolution providing fOf
the i~slLan{;.e Ofm)l exceeding $2,965,000 aggregate principal amount of f[1du~trial D~vdopment Revenut.'
ilonds(Nonh Key Largo Utility Corp. Project), Serie:; 2005, to be exchanged for a like pril~cipal amount ofrhe
Authorlly's oulslanJing industrial Development Rcvcllu~ Bonds (:'>Jorth Key Largo Utility Corp. Pro.i~ct). Series
1995, pursuant to all offer to exchange
CO~TRACT/AG REEMEN T CIIANGf:S:
"N;A
ST..o\ FF R t:CO.''tJ \1 ~~:'i O.-\TION S~
Approval
TOTAL COST:
BllDGETED: Yes
~o
COST TO COlfNTY~
SOl'RCE Ot' f'~U~DS:
REVEr--TE PRODlJCING: Ye~
No
AMOlfNT pt~R MO~TH
'Y E'ar
API)RO VED B1.: Count)' Any X_
(}IVlSI01\ D1RECTOR APPROVAL:
OI'V1B/purCha:sin~ _u__u Risk 1'\i1anagemenl =---
~J2-l,&Jl~~__Qd~!/o. 5 ..... n_
J lL'\J R. COLLI~ S, COUNTY A TTOR~EY
DOC U )\..1 El, ~T4. T 10 N :
included X
To Po11o\.1,'
!\ot Required_
DISPOS ITI(lS:
AG ri'\ DA I T~~;\1 #
Rc~;scd 2(). 7/01
RESOLUTTO~ NO.
A RESOLUTIQ)J OF THE BOARD OF COc;l\TY CO~1Ml.SS~ONLl{S
OF "r>..fONRQE COUNTY, FLQRlDA WlTH RESPECT TO
RFJMBCRSEME~T OF CERTA.lT\. COSTS RELATING TO THE
ACQUISITlO1\:, CONSTRUCTTO~ Al'\D EQUPPH\G OF VARIOUS
W' ASTE\VA TER F AC lLlTIES WI TH1N THE COt) f\:TY.
\\.'llERL\S~ Monroe County, Florida (the 11COtlntY") has incurred aml/or \....111 incur
various C0StS in relation to the acquisition. construction and equipping of various wastewater
collection, dlstributjon, treatment and disposal facilities throughout the County (the
L'Wastewater System ..)-
. .
\\'11 EREAS~ tht: County has determined it lS in its bt;::it ill lerest to rei mhursc all or a
portion of such costs from proceeds of tax-exempt debt: and
\\''IIEREAS~ the Lnited Stales Department of Treasury has Issued various regllbHioIlS
in regard to rei m bursemcnt of governmental costs through the iss.uance of tax-exempt deht~
BE IT RESOLVED BY THE BOARD OF COUNTY COM~llSSI0!\ERS OF
"fONROE COUNTY, FLORIDA, AS FOlLO\\~S~
SECTIOt\ 1. It is the iment of the County to r~imburse various ~osls and
expenditures relating to the acquisition, construction and equipping of the \Vastcwater System.
The County has paid for, and/or rcasonahly anticlpates that it ,~'il1 pay for. su(;h ,osts and
expenditures fmm muneys on deposit in the lGeneraJ Fundi of the COUl~ty, It is reasonahly
expected that reimbursement of such costs and ex.p~nditures shaH L:orne from the i5su3nce of
tax~ex~mpt debt which is not expected to exceed $ __. _... aggregate principal amount.
SECTION 2+ The County shall comply wilh all appllc.ablc law lit regard to the
public availability of records of oftrcial acts (i_~" adoption of this resolution) by publk entitles
such as the County. including making this resolution available to public inspection_
SECTION 3. It is the intem of this resfllution tD meet the r~qujremcnts of
Treasury Rcgulatlons Section L 150-2 and to be a declaration of officiaJ intent under sud1
Section.
SECTJ ON 4.
h erco f.
This. Resolution shall become dlecnvt; immedjakly upon adoption
PASSED AND ADOPTI(D by the Board of County Commissioners of ~\1011roc
County, Florida~ at a regular meeting of said Board held 011 the _. day of ____...m_.
2005.
f\.la yo r S pt.~h ar
Mayor Pro Tern vtcCoy
Commissioner ~el~lm
Commi~~ioner l'\eugent
Cllmmj-'S~:doner Rice
BOi\RIJ OF COLTXfY c.:OMI\.IISSIONERS OF
MONROE COlJ~.IY. 'FLORIDA
Mayor DIXIE M. SPEHAR
ATTEST: Danny L Koillag~, Clerk
Deputy Clerk
A r proved as to form.