Item K4 K.4
County �� � .�� �y,4 ' �, "tr, BOARD OF COUNTY COMMISSIONERS
Mayor David Rice,District 4
�1 `ll Mayor Pro Tem CraigCates,District 1
The Florida Keys ��� `� � Michelle Coldiron,District 2
Eddie Martinez,District 3
w � Holly Merrill Raschein,District 5
County Commission Meeting
December 8, 2021
Agenda Item Number: K.4
Agenda Item Summary #9988
BULK ITEM: Yes DEPARTMENT: Airports
TIME APPROXIMATE: STAFF CONTACT: Richard Strickland(305) 809-5200
N/A
AGENDA ITEM WORDING: Approval of a Resolution with respect to reimbursement of certain
costs relating to the Concourse A Terminal and Improvements Project at the Key West International
Airport.
ITEM BACKGROUND: The Airport has incurred and/or will incur various costs relating to the
acquisition, construction and equipping of various capital improvements with respect to the
Concourse A Terminal Improvements Project prior to the issuance of the long-term tax exempt
bonds. The County has determined that it is in its best interest to reimburse all or a portion of such
costs and expenditures from the issuance of the tax-exempt bonds. Federal tax law requires the
County to declare its official intent to so reimburse itself from tax-exempted bond proceeds. This
resolution satisfies those federal tax requirements.
PREVIOUS RELEVANT BOCC ACTION: n/a
CONTRACT/AGREEMENT CHANGES:
n/a
STAFF RECOMMENDATION: Approval.
DOCUMENTATION:
Reimbursement Resolution
FINANCIAL IMPACT:
Effective Date: Upon adoption
Expiration Date: None, unless rescinded
Total Dollar Value of Contract: n/a
Total Cost to County: n/a
Current Year Portion:
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K.4
Budgeted:
Source of Funds:
CPI:
Indirect Costs:
Estimated Ongoing Costs Not Included in above dollar amounts:
Revenue Producing: If yes, amount:
Grant:
County Match:
Insurance Required: No
Additional Details:
REVIEWED BY:
Beth Leto Completed 11/22/2021 9:54 AM
Richard Strickland Skipped 11/22/2021 2:50 PM
Pedro Mercado Completed 11/22/2021 2:52 PM
Purchasing Completed 11/22/2021 4:49 PM
Budget and Finance Completed 11/22/2021 4:51 PM
Maria Slavik Completed 11/22/2021 7:01 PM
Liz Yongue Completed 11/23/2021 8:31 AM
Board of County Commissioners Pending 12/08/2021 9:00 AM
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K.4.a
MONROE COUNTY, FLORIDA
RESOLUTION NO.
A RESOLUTION OF THE BOARD OF COUNTY
COMMISSIONERS OF MONROE COUNTY, FLORIDA
WITH RESPECT TO REIMBURSEMENT OF CERTAIN
COSTS RELATING TO THE CONCOURSE A
EXPANSION AT THE KEY WEST INTERNATIONAL
AIRPORT.
WHEREAS, Monroe County, Florida (the "County") has incurred and/or will c
incur various costs in relation to the acquisition, construction and equipping of various y
capital improvements with respect to the Concourse A expansion at the Key West
International Airport, as such improvements are more particularly described in the plans
and specifications on file with the County (the "Project"); E
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 Project. The y
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 E
reasonably expected that reimbursement of such costs and expenditures shall come from
the issuance of tax-exempt debt which is not expected to exceed $65,000,000 aggregate
principal amount. E
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.
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K.4.a
SECTION 4. This Resolution shall become effective immediately upon
adoption hereof.
PASSED AND ADOPTED by the Board of County Commissioners of Monroe
County, Florida, at a regular meeting of said Board held on the 8th day of December
2021.
Mayor David Rice
Mayor Pro Tem Craig Cates
Commissioner Michelle Coldiron
Commissioner Eddie Martinez
Commissioner Holly Merrill Raschein
BOARD OF COUNTY COMMISSIONERS
(Seal) OF MONROE COUNTY, FLORIDA
Attest: Kevin Madok, Clerk
By: By:
Deputy Clerk Mayor
0
ROE COUNTY n EY E
A , OVE FORMy
PED U j,.
ASSIST) ATTORNEY
Cate 11/18/21
2
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