Item E4 E4
BOARD OF COUNTY COMMISSIONERS
COUNTY of MONROE i Mayor Holly Merrill Raschein,District 5
The Florida Keys Mayor Pro Tern James K.Scholl,District 3
Craig Cates,District 1
Michelle Lincoln,District 2
' David Rice,District 4
Budget Meeting Meeting
September 11, 2024
Agenda Item Number: E4
2023-3025
BULK ITEM: No DEPARTMENT: Budget and Finance
TIME APPROXIMATE: STAFF CONTACT: Tina Boan
AGENDA ITEM WORDING: Approval of a resolution of the Board of County Commissioners with
respect to reimbursement of certain costs relating to various capital improvements within the County.
ITEM BACKGROUND:
It is the intent of the County to reimburse various costs and expenditures relating to the acquisition,
construction and equipping of the Project. The County has paid for, and/or reasonably anticipates that it
will pay for, such costs and expenditures from moneys on deposit in the One Cent Infrastructure Sales
Surtax, Fund 304 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
$45,000,000 aggregate principal amount.
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.
PREVIOUS RELEVANT BOCC ACTION:
INSURANCE REQUIRED:
No
CONTRACT/AGREEMENT CHANGES:
STAFF RECOMMENDATION: Approval
DOCUMENTATION:
Reimbursement Resolution(2024) (002).pdf
FINANCIAL IMPACT:
570
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 VARIOUS CAPITAL
IMPROVEMENTS WITHIN THE COUNTY.
WHEREAS,Monroe County, Florida(the "County")has incurred and/or will incur
various costs in relation to the acquisition, construction and equipping of various capital
improvements within the County, as generally described on Exhibit A hereto and more
particularly described in the plans and specifications on file with the County (the
"Project");
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
County has paid for, and/or reasonably anticipates that it will pay for, such costs and
expenditures from moneys on deposit in the One Cent Infrastructure Sales Surtax, Fund
304 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 $45,000,000 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.
571
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 11th day of September
2024.
Mayor Holly Merrill Raschein
Mayor Pro Tem Jim Scholl
Commissioner Craig Cates
Commissioner Michelle Lincoln
Commissioner David Rice
BOARD OF COUNTY COMMISSIONERS
(Seal) OF MONROE COUNTY, FLORIDA
Attest: Kevin Madok, Clerk
By: By:
Deputy Clerk Mayor
2
572
GENERAL DESCRIPTION OF PROJECT
The Project generally consists of the following capital improvements, as more
particularly described in the plans and specifications of file with the County, and as the
same may be amended and supplemented from time to time:
• Sugarloaf Fire Station
• Rockland Fleet Garage Facility
• Sheriff Generator Building
• Conch Key Road Elevation
• Twin Lakes Road Elevation
• Sands Subdivision Road Elevation
• Sugarloaf Boulevard Bridge Replacement
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573