Item R4
BOARD OF COUNTY COMMISSIONERS
AGENDA ITEM SUMMARY
Meeting Date: June 21. 2006
Division:
Budget & Finance
Bulk Item: Yes X No
Department: Office of Management & Budget
Staff Contact Person: Salvatore R. Zappulla
AGENDA ITEM WORDING: A Public Hearing. For approval of a resolution approving the issuance
by Monroe County, Florida of it's Airport Variable Rate Revenue Bonds (Key West International
Airport), Series 2006A to finance certain capital improvements relating to the Key West International
Airport; and providing for an effective date.
ITEM BACKGROUND: Federal Law requires that a Public Hearing be conducted prior to the
issuance of this type of tax exempt airport bonds. Federal law also requires that the hearing be noticed
at least ] 4 days prior to the hearing which gives the public a chance to comment on the nature of the
project. Following the Public hearing, the BOCC adopts the TEFRA Resolution which is the title of
the resolution attached hereto, and which acknowledges that a hearing was duly noticed and that the
BOCC approves the issuance of the Bonds for Federal Income Tax Purposes.
PREVIOUS RELEVANT BOCC ACTION:
On April] 9,2006 the Board of County Commissioners approved a plan of Finance for the New
Terminal Complex at the Key West International Airport.
CONTRACT/AGREEMENT CHANGES: N/A
ST AFF RECOMMENDATIONS: Approval
TOTAL COST:
-0-
BUDGETED: Yes
No N/A
COST TO COUNTY:-O-
SOURCE OF FUNDS:
REVENUE PRODUCING: Yes
No N/A
AMOUNT PER MONTH
Year
APPROVED BY: County Atty. _ OMB/Purchasing_
Risk Management
DIVISION DIRECTOR APPROVAL:
DOCUMENTATION:
Included x
Not Required
To Follow
DISPOSITION:
AGENDA ITEM #
RESOLUTION NO.
RESOLUTION APPROVING THE ISSUANCE BY
MONROE COUNTY, FLORIDA OF ITS AIRPORT
VARIABLE RATE REVENUE BONDS (KEY WEST
INTERNATIONAL AIRPORT), SERIES 2006A TO
FINANCE CERTAIN CAPITAL IMPROVEMENTS
RELA TING TO THE KEY WEST INTERNA TIONAL
AIRPORT; PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, Monroe County, Florida (the "County") desires to issue its Airport
Revenue Bonds (Key West International Airport), Series 2006A (the "Bonds") in an
amount not to exceed $33,000,000 in order to finance certain capital improvements to the
Key West International Airport (the "Project"); and
WHEREAS, the County desires to approve, for purposes of Section 147(f) of the
Internal Revenue Code of 1986, as amended, the issuance of its Bonds in order to finance
the Project;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS OF MONROE COUNTY, FLORIDA:
SECTION 1. AUTHORITY. This resolution is adopted pursuant to the
laws of the State of Florida.
SECTION 2.
declares as follows:
FINDINGS. The County hereby finds, determines and
A. Notice of a public hearing to be held on the date hereof, inviting comments
and discussion concerning the issuance of the Bonds and the Project, was published in the
June 5, 2006 edition of the Key West Citizen, a newspaper of general circulation in
Monroe County, Florida, at least 14 days prior to the date of such public hearing. The
proof of publication of such notice is on file with the Clerk to the Board of County
Commissioners.
B. public hearing was held on the date hereof, during which comments and
discussions concerning the issuance of the Bonds and the Project was requested, and any
concerned were heard.
C. Board of County Commissioners is the elected legislative body and has
jurisdiction over the entire area in which the Project is located.
SECTION 3. APPROVAL. For purposes of Section I47(f) of the Internal
Revenue Code of 1986, as amended, the County hereby approves the issuance of the
Bonds and the Project.
SECTION 4. EFFECTIVE DATE. This resolution shall become effective
immediately upon its adoption.
ADOPTED at a meeting of the Board of County Commissioners on the 21st of
June, 2006.
BOARD OF COUNTY COMMISSIONERS OF
MONROE COUNTY, FLORIDA
(SEAL)
By:
Mayor/Chairperson
ATTEST:
Deputy Clerk
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