Item R05
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BOARD OF COUNTY COMMISSIONERS
AGENDA ITEM SUMMARY
Meeting Date: September 21, 2005
Division:
County Administration
Bulk Item: Yes -X- No
Department: County Administration
Staff Contact Person: Debbie Frederick
AGENDA ITEM WORDING:
Approval of a Resolution with respect to reimbursement of certain costs relating to the acquisition,
construction and equipping of various capital improvements to the Key West International Airport.
ITEM BACKGROUND:
Monroe County will incur various costs in relation to the acquisition, construction and equipping of
various capital improvements to the KWIA and these costs shall come from the issuance of tax-exempt
debt. This Resolution will allow the County to reimburse itself for any expenditures that it may make
for the project which it expects to reimburse from proceeds of the bonds.
PREVIOUS RELEVANT BOCC ACTION:
N/A
CONTRACT/AGREEMENT CHANGES:
N/A
STAFF RECOMMENDATIONS:
Approval.
TOT AL COST: Not to exceed
DGETED: Yes
No X
COST TO COUNTY:
SOURCE OF FUNDS: Tax-exempt debt
REVENUE PRODUCING: YeshNo AMOUNT PER MONTH Year
APPROVED BY: County Atty #i'(OMBIPurchasin " " sl:Management _ -.
I
DIVISION DIRECTOR APPROVAL:
9>efUJre :J~
Debbie Frederick
DOCUMENTATION:
Included X
Not Required
DISPOSITION:
AGENDA ITEM #
Revised 2105
RESOLUTION NO.
A RESOLUTION OF THE BOARD OF COUNTY
COMMISSIONERS OF MONROE COUNTY, FLORIDA
WITH RESPECT TO REIMBURSEMENT OF CERTAIN
COSTS RELATING TO THE ACQUISITION,
CONSTRUCTION AND EQUIPPING OF VARIOUS
CAPITAL IMPROVEMENTS TO THE KEY WEST
INTERNATIONAL AIRPORT.
WHEREAS, Monroe County, Florida (the t1Countil) has incurred and/or will
incur various costs in relation to the acquisition, construction and equipping of various
capital improvements to the Key West International Airport (the "Airport
Improvements");
WHEREAS, the County has determined it is in its best interest to reimburse all or
a portion of such costs from proceeds of tax-exempt debt; and
WHEREAS, the United States Department of Treasury has issued various
regulations in regard to reimbursement of governmental costs through the issuance of tax-
exempt debt;
BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF
MONROE COUNTY, FLORIDA, AS FOLLOWS:
SECTION 1. It is the intent of the County to reimburse various costs and
expenditures relating to the acquisition, construction and equipping of the Airport
Improvements. The County has paid for, and/or reasonably anticipates that it will pay
for, such costs and expenditures from moneys on deposit in the Airport Enterprise Fund
of the County. It is reasonably expected that reimbursement of such costs and
expenditures shall come from the issuance of tax-exempt debt which is not expected to
exceed $35,000,000 aggregate principal amount.
SECTION 2. The County shall comply with all applicable law in regard to
the public availability of records of official acts (i.e., adoption of this resolution) by
public entities such as the County, including making this resolution available to public
inspection.
SECTION 3. It is the intent of this resolution to meet the requirements of
Treasury Regulations Section 1.150-2 and to be a declaration of official intent under such
Section.
SECTION 4.
adoption hereof.
This Resolution shall become effective immediately upon
PASSED AND ADOPTED by the Board of County Commissioners of Monroe
County, Florida, at a regular meeting of said Board held on the _ day of
,2005.
Mayor Spehar
Mayor Pro Tem McCoy
Commissioner Nelson
Commissioner Neugent
Commissioner Rice
BOARD OF COUNTY COMMISSIONERS
OF MONROE COUNTY, FLORIDA
Mayor
A TTEST: Danny L. Kohlage, Clerk
Approved as to form and legal sufficiency:
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Deputy Clerk
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County Attorney
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