Resolution 218-2012 RESOLUTION NO.218-2012
A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF MONROE
COUNTY, FLORIDA, CONTINUING THE ASSESSMENTS OF WASTEWATER SERVICE
TO PROPERTIES IN THE BIG COPPITT, DUCK KEY, AND STOCK ISLAND SERVICE
AREAS FOR THE 2012 TAX YEAR; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS,the Board of County Commissioners of Monroe County,Florida has
enacted Ordinance No. 027-2003 relating to the provision of wastewater service and facilities in
Monroe County,Florida and authorizing the imposition and collection of wastewater assessments
against property; and
WHEREAS,the Board of County Commissioners of Monroe County,Florida adopted
Resolution 261-2004 relating to the provision of wastewater service to properties in the Stock
Island Service Area, describing the capacity reservation fee, collection costs, and the other terms
and conditions of the non-ad valorem annual wastewater assessments; and
WHEREAS,the Board of County Commissioners of Monroe County, Florida adopted
Resolution 265-2004 that imposed a special assessment to collect System Development Fees from
certain parcels of property within the Stock Island Service Areas to fund that portion of the
capital cost of the wastewater facility being assessed to each owner up to a maximum of$2,700
per Equivalent Dwelling Unit("EDU"),wherein the number of EDUs for residential properties
was assessed based on the number of residential units for that Tax Parcel as determined by the
Property Appraiser at the time of the adoption of Resolution 265-2004 and the number of EDUs
for non-residential properties was based on water consumption; and
WHEREAS,the Stock Island Assessments have been imposed annually
since 2004 to recover Capacity Reservation Fees advanced by Monroe County on behalf of
certain parcels of property within the Stock Island Service Area; and
WHEREAS,the Board of County Commissioners of Monroe County, Florida adopted
Resolution 264-2007 relating to the provision of wastewater service to properties in the Big
Coppitt and Duck Key Service Areas, describing the system development fee, collection costs,
and the other terms and conditions of the non-ad valorem annual wastewater assessments; and
WHEREAS,the Board of County Commissioners of Monroe County, Florida adopted
Resolution 302-2007 that imposed a special assessment to collect System Development Fees from
certain parcels_of property within the Big Coppitt and Duck Key Service Areas to fund that
portion of the capital cost of the wastewater system being assessed to each owner up to a
maximum of$4,500 per Equivalent Dwelling Unit("EDU"), wherein the number of EDUs for
residential properties was assessed based on the number of residential units for that Tax Parcel as
determined by the Property Appraiser at the time of the adoption of Resolution 302-2007 and the
number of EDUs for non-residential properties was based on water consumption; and
WHEREAS, the Big Coppitt Assessments have been imposed annually
since 2007 to pay a portion of the debt service on Obligations issued in connection with the
construction of Wastewater Collection and Treatment Facilities within the Big Coppitt Service
Area; and
'WHEREAS,the Duck Key Assessments have been imposed annually since 2007 to fund
construction of a portion of the Duck Key Wastewater Treatment Facility; and
WHEREAS, Section 2.02 of Resolution 261-2004 established the assessment term for
Stock Island to be 5, 10 or 20 years; and
WHEREAS,the 10 and 20 year assessment terms expire in 2013 and 2023,respectively;
and
WHEREAS, Section 2.02 of Resolution 264-2007 established the assessment term for
Big Coppitt and Duck Key to be 20 years; and
WHEREAS,the annual assessment revenue is necessary to repay debt obligations and
capital construction costs.
NOW THEREFORE,BE IT RESOLVED BY THE MONROE COUNTY BOARD OF
COUNTY COMMISSIONERS;FLORIDA,AS FOLLOWS:
Section 1.0 The non-ad valorem annual assessment will be levied at the rate of$339.97 per EDU
for those property owners who elected to pay the Capacity Reservation Fee over 10 years and at a
rate of$207.73 for those property owners who elected to pay the Capacity Reservation Fee over
20 years as previously noticed for the Stock Island assessment program.
Section 2.0 The non-ad valorem annual assessment initially levied at the rate of$441.00 per EDU
as noticed by first class on August 2, 2007 for the Big Coppitt and Duck Key assessment
o 4i.lgrams is to be lowered. The annual amount for 2012 is set at a rate of$343.02 per EDU.
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C.=7 �1_
�o SSED-AND ADOPTED by the Board of County Commissioners of Monroe County,Florida,
a meetingof said Board held on the 5th day of September.
a :mac=—� --
u.,.-.� Mayor David Rice __ _ . Yes
a - c j Commissioner`Carruthers Yes
.= (-;
Li! -fin Commissioner Kim Wigington Absent
` Commissioner George Neugent Yes
�-�- cue, �
Commissioner Sylvia Murphy Yes
BOARD OF COUNTY COMMISSIONERS
=J -, OF MONROE COUNTY,FLORIDA
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BY:j : 4/1)- -----
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�`,•$``Atest��,D'anny L. Kolhage, Clerk
12d0, 00,cd,tde. 4,st,ri :. °? =' COUNTY A;T OO-=.z-,r
-,r IfOVED AST 7:.) t i•
Deputy Clerk
U ,Nall.A. HU i`l ON
•
Big Coppitt Annual Rates_EDUs=2100 Int rate_2.71_(8-2-12)
•
•
Client Name Monroe County •
Project Name Wastewater Assessments(Big Coppitt and Duck Key)
•
Revised Interest Rate and Collection Costs_8-2-12
•
Item -Based On Amount
Debt Service Parameters
Original Interest Rate 2.71%
Start Date(mm/dd/yyyy) 11/1/2007
Payments Per Year " 1
Total Years 20
Total Principal $ 9,450,000.00
•
Initial Prepayment Amount •
Total Construction Costs $ 9,450,000.00
Contingency Included in Construction Costs $ •
Total Capital Cost $ 9,450,000.00
initial Prepayment per Unit $ 4,500.00
Other Total Loan Components
Debt Service Reserve Fund
Capitalized Interest $ -
Cost of Issuance $ -
•
Underwriter's Discount • $ -
Rounding $ -
Total Loan $ 9,450,000.00
Annual Assessment Rates
Number of Parcels • 1,811
Number of Units • 2,100
Modified Number of Units 1,995
• Amount Per EDU
Annual Debt Service $ 618,281.00 Uses modified units $ 309.92
Assessment Administration(GSG) Start Up Over 3 years Plus Annual $ 30,834.00 Uses modified units $ 15.46
County Administrative Costs Not Included $ - •
First Class Notices - Not Included $ • - •
Prepayment Notices Not Included $ -
Tax Collector Costs Uses TC proposed costs $ 1,000.00 Uses modified units $ 0.50
PropertyAppraiserCosts Not Included $ -
Statutory Discount $ 34,217.00 Uses modified units $ 17.15 •
•
Total Annual Assessment Amount $ 684,332.00
Annual Assessment Amount/Unit $ 344.00 $ 343.02
ASSUMPTIONS: -
20 year term
5.0%Interest rate changed to 2.71%for FY 2012-13
Collection costs revised ,
Based on one payment per year
•
•
•
Financing Info
Big Coppitt Annual Rates_EDUs=2100_int rate_2.71_(8-2-12)
8/2/2012 1