Resolution 226-2000
FILED FOR RECORD Board of County Commissioners
00 JUN 27 AH 10: ; aRESOLUTION NO. 226 -2000
DANN Y L. rWlHAf.if
MIN~eiVtt9N OF THE BOARD OF COUNTY COMMISSIONERS OF
M8lfiR()~T~OlJ.t1ITY, FLORIDA APPROVING THE ISSUANCE OF
INDUSTRIAL DEVELOPMENT REVENUE BONDS IN AN AMOUNT NOT
EXCEED $1,000,000 BY THE MONROE COUNTY INDUSTRIAL
DEVELOPMENT AUTHORITY
WHEREAS, on May 17, 2000 a public hearing was held by the Monroe County
Industrial Development Authority (the "Authority") with regard to the issuance of the
Authority's Industrial Development Revenue Bonds, Series 2000 (Wesley House
Community Center, Inc. Project) in an aggregate principal amount not to exceed
$1,000,000 (the "Bonds"); and
WHEREAS, the proceeds of the Bonds will be used by the Authority to make a loan
to Wesley House Community Center, Inc. (the "Borrower") to finance and refinance the
cost of acquisition, renovation and rehabilitation of a social service center located at
1300 Truman Avenue, Key West, Florida, within Monroe County, Florida and to pay the
costs of issuance of the Bonds (all of the property financed and refinanced with proceeds
of the Bonds being owned and operated by the Borrower); and
WHEREAS, the Bonds will not be an obligation of the County, and will be payable
solely from funds of the Borrower; and
WHEREAS, pursuant to the requirements of the Florida Statutes and of the
Internal Revenue Code of 1986, as amended (the "Code"), as a prerequisite to the
issuance of the Bonds, it is necessary that the Board of County Commissioners of Monroe
County, Florida approve the issuance thereof after said publiC hearing; and
WHEREAS, the Board of County Commissioners desires to evidence approval of
the issuance of the Bonds solely to satisfy the requirements of the Florida Statutes and
of the Code; now, therefore
BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF MONROE
COUNTY, FLORIDA:
Section 1. The Board of County Commissioners hereby approves the issuance of
the Bonds solely for purposes of Section 159.47(1)(i), Florida Statutes and Section
147(f) of the Code.
Section 2. The Bonds shall not constitute a debt, liability or obligation of Monroe
County, Florida, its Board of County Commissioners, or any officers, agents or
employees thereof, or of the State of Florida or any political subdivision thereof, but shall
be payable solely from the revenues provided therefor, and neither the faith and credit
nor any taxing power of Monroe County, Florida, the State of Florida or any political
subdivision thereof is pledged to payment of the principal of, premium, if any, and
interest on the Bonds. No member of the Board of County Commissioners of Monroe
County, Florida or any officer, agent or employee thereof shall be liable personally on the
Bonds by reason of their issuance.
Section 3. This approval shall in no way be deemed to abrogate any regulations
of Monroe County, Florida, and any and all projects contemplated to be financed with the
Bonds shall be subject to all such regulations, including, but not limited to, the Monroe
County Growth Management Plan, all concurrency requirements contained therein, the
Monroe County Land Development Code, and all applicable impact fee regulations.
Section 4. If any Section, paragraph, clause or provision of this Resolution shall
be held to be invalid or ineffective for any reason, the remainder of this Resolution shall
continue in full force and effect, it being expressly hereby found and declared that the
remainder of this Resolution would have been adopted despite the invalidity or
ineffectiveness of such Section, paragraph, clause or provision.
PASSED AND ADOPTED by the Board of County Commissioners of Monroe County,
Florida, at a regular meeting of said Board held on the 14th day of June, 2000.
Mayor Shirley Freeman
cOl.j ommissioner Wilhelmina Harvey
missioner George Neugent
issioner Mary Kay Reich
issioner Nora Williams
yes
yes
yes
ves
yes
BOARD OF COUNTY COMMISSIONERS
OF M;S~Z::a~
By
May r/Chalrperson
jdresidawesley
APPROVED AS TO FORM
A~O lEGA~ FICIEN
8~~ -
R~ERT N,
DATE b"""' 19 ~ ('")0