Resolution 407-1984
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RESOLUTION NO. 407 -1984
A RESOLUTION APPROVING THE CONSTRUCTION AND
EQUIPPING OF A CAPITAL PROJECT COMPRISING A
l20-~ED SKILLED AND INTERMEDIATE CARE NURSING
HOME FACILITY LOCATED IN MONROE COUNTY, FLORIDA
AND THE FINANCING OF THE PROJECT ~Y THE MONROE
COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY IN COM-
PLIANCE WITH THE PU~LIC HEARING REQUIREMENT
CONTAINED IN SECTION 103(k) OF THE INTERNAL
REVENUE CODE.
WHEREAS, on January 26, 1983, the Monroe County Industrial
Development Authority (the "Authority") passed a resolution
agreeing to use its best efforts to issue its industrial
development revenue bonds to finance the construction and
equipping of a capital project comprising a l20-bed skilled and
intermediate care nursing home facility located in Plantation Key
Tavernier, Monroe County, Florida (the "Project") subject to the
terms and conditions contained in an Assistance Agreement between
the Authority and Plantation Convalescent Center, Inc. (the
"Company"); with respect to the proposed issuance and sale of
approximately $4,000,000 (but in no event in excess of
$10,000,000) in aggregate principal amount of Monroe County
Industrial Development Authority, Industrial Development Revenue
~onds, 1983 Series (Plantation Convalescent Center, Inc. Project)
(the "~onds") for the purpose of paying all or any part of the
cost of said Project; and with respect to the sale or lease of
the Project, or similar financing arrangement between the
Authority and the Company, all pursuant to the Florida Industrial
Development Financing Act and;
WHEREAS, in order to provide a reasonable opportunity for
persons with differing views on both issuance of the ~onds and
the location and nature of the Project to be heard, a public
hearing was held on the 4th day of March, 1983 (the "Public
Hearing") and;
WHEREAS, notice for the Public Hearing was published in the
Key West Citizen, a newspaper of general circulation in Monroe
County, Florida, on February 18, 1983, which was no less than
fourteen days before the date of the Public Hearing and which was
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designed to apprise residents of Monroe County, Florida of the
proposed issuance of the Bonds;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS OF MONROE COUNTY, State of Florida, the county in
which the Project is located:
Section 1: Monroe County, Florida (the "County") hereby
approves the Resolution of the Authority dated January 26, 1983,
with respect to the Bonds, and the issuance of its Industrial
Development Revenue Bonds, 1984 Series (Plantation Key
Convalescent Center, Inc. Project) in the aggregate principal
amount of $3,200,000 (the "Bond") for the purpose of paying all
or part of the cost of the Project.
Section 2: It is the intention of the County and the
Authority that the Public Hearing satisfies the public hearing
requirement of Section 103(k) of the Internal Revenue Code. The
County hereby finds that the PUblic Hearing provided a reasonable
opportunity to be heard for persons with differing views on both
issuance of the Bonds and the location and nature of the Project;
that published notice for the Public Hearing was designed to and
did apprise residents of Monroe County, Florida of the proposed
issuance the Bond, and that said public hearing took place prior
to final approval of the Bond.
Section 3: IN order to further comply with Section 103(k)
of the Internal Revenue Code, prior to issuance of the Bond, the
Chairman of the Board of County Commissioners of another
appropriate elected representative of Monroe County, Florida is
authorized and directed to approve issuance of the bond.
Section 4: This Resolution shall take effect immediately
upon its adoption.
DULY PASSED AND ADOPTED by the Board of County Commissioners
of Monroe County, Florida the 28th day of December 1984.
(SEAL)
Attest:
APPROVEDAS TO FORM
ANDcLEGAL SUFF1ClE~tj_ . '
BY ~~ ~~L~-~ ~ J <'
AttomeY". Offlt:ll t/"(