Item Q10 BOARD OF COUNTY COMMISSIONERS
AGENDA ITEM SUMMARY
Meeting Date: Februa 19 2014 Division: County Administration
Bulk Item: Yes X No _ Department: County Administration
Staff Contact Person/Phone#: Kevin Madok x4480
AGENDA ITEM WORDING: Approval of Resolution 2014-XX amending resolution no. 424-2007, in
order to modify the description of the Series 2007 Bond projects; and providing an effective date.
ITEM BACKGROUND: Resolution 424-2007 listed several capital projects to be funded by the
Series 2007 Bond proceeds. Those projects are substantially complete. Residual funds remain and
additional projects are desired to be funded by these bond proceeds.
PREVIOUS RELEVANT BOCC ACTION:
NIA
CONTRACT/AGREEMENT CHANGES:
NIA
STAFF RECOMMENDATIONS: Approval
TOTAL COST: N/A INDIRECT COST: BUDGETED: Yes No
DIFFERENTIAL OF LOCAL PREFERENCE:
COST TO COUNTY: SOURCE OF FUNDS:
REVENUE PRODUCING: Yes No AMOUNT PER MONTH Year
APPROVED BY: County Atty X OMB/Purchasing X Risk Management X
DOCUMENTATION: Included Not Required
DISPOSITION: AGENDA ITEM#
Revised 7/09
RESOLUTION NO. 2414-
RESOLUTION OF THE BOARD OF COUNTY
COMMISSIONERS OF MONROE COUNTY, FLORIDA
AMENDING RESOLUTION NO. 424-2007, IN ORDER TO
MODIFY THE DESCRIPTION OF THE SERIES 2007
PROJECT; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, pursuant to Resolution No. 077-2003, adopted by the Board of County
Commissioners (the 'Board") of Monroe County, Florida (the "County") on February 19, 2003,
as amended and supplemented (collectively, the 'Bond Resolution"), particularly by Resolution
No. 424-2007 adopted by the Board on November 14, 2007 (the "2007 Resolution"), the County
issued its Monroe County, Florida Infrastructure Sales Surtax Revenue Bonds, Series
2007 (the "Series 2007 Bonds") for the principal purpose of financing the costs of various
capital improvements set forth in Exhibit A to the 2007 Resolution, which capital
improvements were defined as the "Series 2007 Project" therein;
WHEREAS, there remain certain unspent proceeds of the Series 2007 Bonds and
investment proceeds thereof(the "Remaining 2007 Bond Proceeds");
WHEREAS, the Issuer deems it desirable and in its best interests to amend the
description of the Series 2007 Project to include additional capital improvements that
may be paid for with the Remaining 2007 Bond Proceeds; and
WHEREAS, such amendment shall have no material adverse affect on the security
provided in the Resolution for the Series 2007 Bonds or any other outstanding Bonds (as
defined in the Bond Resolution).
BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF
MONROE COUNTY, FLORIDA:
Section 1. Authority for this Supplemental Resolution.
This Supplemental Resolution is adopted pursuant to the provisions
of the Bond Resolution and the Act (as defined in the Bond
Resolution).
Section 3. Amendment to Series 2007 Project Description.
The description of the Series 2007 Project provided in Exhibit A to
the 2007 Resolution is hereby amended to include those additional
capital improvements set forth in Exhibit A attached hereto.
Section 4. Resolution to Continue in Force.
Except as herein expressly provided, the Bond Resolution and the
2007 Resolution, and all terms and provisions thereof, including the
covenants contained therein, are and shall remain in full force and
effect.
Section 5. Effective Date.
This Supplemental Resolution shall become effective immediately
upon its adoption.
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
.........................................................................................3 2014.
Mayor George Neugent
Mayor Pro Tem Heather Carruthers
Commissioner Danny Kolhage
Commissioner David Rice
Commissioner Sylvia Murphy
BOARD OF COUNTY COMMISSIONERS
(Seal) OF MONROE COUNTY, FLORIDA
Attest: AMY HEAVILIN, Clerk
By: By:
Deputy Clerk Mayor
EXHIBIT A
Capital Improvements to be Added to the Series 2007 Project
• Countywide emergency communications system
• Freeman Justice Center Lobby Expansion
• Detention Center Chillers
• Sheriff Administration Building Roof
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