Resolution 498-1995
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RESOLUTION NO. '498-1995
A RESOLUTION APPROVING THE
ISSUANCE BY THE HOUSING FINANCE
AUTHORITY OF PINELLAS COUNTY,
FLORIDA OF ITS SINGLE FAMILY
MORTGAGE REVENUE BONDS IN THE
AGGREGATE AMOUNT NOT TO EXCEED
$60,000,000 TO PROVIDE FUNDS TO
-,
FINANCE QUALIFYING SINGLE FAMI5Y ~--;
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MORTGAGE LOANS IN VARIOJg~~
COUNTIES WITHIN THE STATE QJt~::
FLORIDA, INCLUDING MONR~~:',
COUNTY; AND PROVIDING ~~
EFFECTIVE DATE. .-.. ..
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WHEREAS, the Housing Finance Authority of Pine lias County, Florida
(the "Pinellas Authority") has authorized the initiation of official action to
issue its Single Family Mortgage Revenue Bonds (the "Pinellas Bonds") to
provide financing of qualified owner-occupied single family residences to
alleviate the shortage of housing in various counties within the State of
Florida, including Monroe County, and other participating counties in Florida
(collectively, the "Counties:) by acquiring certain mortgage loans or securities
backed by mortgage loans originated by lending institutions to finance the
purchase of single family, owner occupied houses for low, moderate or
middle income persons or families in the counties; and
WHEREAS, the Housing Finance Authority of Monroe County (the
"Authority") conducted a public hearing, notice of which hearing was
published on December 1, 1995, in the Key West Citizen (a copy of which
notice is attached hereto as Exhibit "A: and incorporated herein) on
December 15, 1995, for the purpose of considering the issuance of the
Pinellas Bonds by the Pinellas Authority in the aggregate principal amount not
to exceed $60,000,000, in conformance with the requirements of Section
147(f) of the Internal Revenue Code of 1986, as amended. Said public
hearing disclosed no reason why the Pinellas Bonds should not be issued.
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF
COUNTY COMMISSIONERS OF MONROE COUNTY, FLORIDA:
Section 1. The Board, pursuant to, and in accordance with, the
requirements set forth in Section 147 (t) of the Internal Revenue Code of
1986, as amended, hereby approves the issuance of the Pinellas Bonds by the
Pinellas Authority.
Section 2. Pursuant to Section 159.603, Florida Statutes, as amended,
the operation of the Pinellas Authority within the territorial boundaries of
Monroe County as described herein, is hereby approved.
Section 3. This resolution shall take effect immediately upon its
adoption.
PASSED AND ADOPTED this 20TH day of DECEMBER
1995.
BOARD OF COUNTY COMMISSIONERS
OF MONROE COUNTY, FLORIDA
(SEAL)
BY: ~~-FAUM~
Shirley Freeman, yor, Monroe County
ATTESiANNY L KOLHAGE, Cl ~ ~ss~oner Douglass
. er~ Corrmiss~oner Harvey
, Conmissioner lDndon
Conmissioner Reich
Mayor Freeman
yes
yes
yes
yes
yes
By: ~-9;A'l::1u.)
Danny Ko lage, lerk
~
:~::: - '. ~~
A
Published Daily
Key West, Monroe C". .:lty, Florida 33040
STATE OF FLORIDA
COUNTY OF MONROE;
Before the undersigned authority personally appeared 'R'andy G, Erickson, who o'n oath
says that he is Advertising Manager of the ~ey West Citizen; a daily newspaper published
at Key West in Monroe County, Florida; that the attached copy of the advertisement, being
a legal notice " I
in the matter of ^'Di:l"e o~ P~1('c.. )...\e~i'\'YJ~ $1'V)1!-<" ~~J'ly
t'V1[')r-~"q~ j:?.fv~t\""-< ~ol.,ds ~Y"I'<S l"l'lb (y"Y)....IH- CdI..c.YI~ P"09f~-j
in the court, was published in said newspaper in the
issues of OU.t.~ ~ r l) l ct <\~
Affiant further says that the said'The Key West Citizen is a newspaper'published at Key
West, in said Monroe County. Florida, and that the said newspaper has heretofore been
.contiriuously"publi~lied In,sai.d Monroe .County: Fk?i'ida, 'each day (except Saturdays and
specified hofidays) and has been entered as second-class mail matterat the post office in
Key West. i,! said Monroe Ca.unty, Florida, for a pe.riod of 1 year next preceding the first
publication of the attached copy of advertisement;'and aHialit further says that he has nei-
ther paid nor promised any person, firm or corporation any discount, rebate, commission
or refund for the' purpose of securing this advertisement for publication in the said news-
paper.
(Si ature of AHiant)
Sworn to and subscribed before me this~ ay of .d~L~-:r: //~/ , 1995
~
I )gQ~(u,r.e""df ~:otary Public)
MY COM1.:lI:..:j;(;~ F', .,;' Z'; : ~
. ~ k //'3 >';';;}h")' '!~~dTI1:\1 ~~; ,airie~o.f~~btal)' Pub'lie)
Expires' ~/ <7' 7' ?, -'..::::.------ .. .=-....~
Personally Known ...:::::::"'or Produced Identification -.
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Type of Identification Produced
EXHIBIT A
LEGAL NOTICES
. NQTICE OF PUBLIC HEARING
For uie purpose gf Section '47(f) of
the Internal Rev.~e 01. 1.9156.
.. .."e""d, notice Ither~by given
tJiat a public hMrin9 ,will be'~eld on
. ...
behalf or the HOUSing' Finance Au.
thority of the Monroe County Hous-
Ing Rn.nee Authority wllh respect to
the oontemplated Issuance .nd sale
of not exceedIng 580.000,000 Single
Family Mortgage Revenue Bonds.
Serles 1898 (Multi-County Program).
by the Houllng Fil'\ance Authority 01
Pin. lias County. The public hearlng
Is acheduled for 10:00 Lm., on Frl-
day. Oecemj)er 15th. '995 In Ihe
Conference Room at the Mayhlll
Russell Monroe County Public U~
brary at 700 Fleming Street. Key
Weet, Aorta.
The proceede of SUQh bond, will be
used to flnne and provide capital
for Inveatment to fund the purchase
of mortgage Ioana to qualified home-
buyers of low. moderate or middle In-
come for the constructlOt'l, purchase
or., rthablll\atlon or owner-occupied
lingle family housing lOcated within
partlc;lpatlng FlOrtcla counties, Includ-
IngMonroe County, Florida.
The bondl.wlll /'lOt constitute a debt
of ttI, Stat. of Florida, Monroe
County, or any participating Counties
or HousIng FInance 'AuthorltJ8&. bul
win be payable 50lely from payments
mode from the, revenue generated
.from the houllng 'program. .
At the Uma .and place fixed for said
public hearlng all who appear will be
given an opportunIty to expreas their
views for or against the proposal to
Issue 5ald ,bondl. Perlons are ad-
"Ised that. U they decide to appeal
any decIsion made at this pUblic
heartng. they will need 8 record of
the proceedings. and; for luch pur-
pose., they ~y need.to ensure that
a .,.rbaUm NC;Ord of the prooe'dlngs
Ie made, which record Includes the
t..tlmony and tvldence upon which
the appeal .. to. be baaed. .
All Int,relted parties are invited to
prell'nt theIr comments at the time
and place ,et lorth above. .
, Thomal Stevens
Houllng Finance Ho~ng Finance
. Authority
Oecember18t.1995
BOARD OF COUNTY COMMISSIONERS
AGENDA ITEM SUMMARY
Meeting Date: 12-20-12/21.1995
Bulk Item: Yes~No
Division: M.C.H.A.
Department: Special Programs
(Staff for MCHFA)
Staff and MCHF A Board Members will be resent at BOCC meetin for an uestions
AGENDA ITEM WORDING: A Resolution approving the issuance by the Housing
Finance Authority of Pinellas County, Florida of its Single Family Mortgage Revenue
Bonds in the aggregate amount not to exceed $60,000,000 to provide funds to finance
qualifying Single Family Mortgage Loans in various counties within the State of Florida,
including Monroe County; and providing an effective date.
ITEM BACKGROUND: The Monroe County and City of Key West Special Programs
Office existing Florida Housing Finance Agency 1995 Series A & B Tax Exempt
Mortgage Revenue Bond Allocation will expire August 14, 1996 leaving the County's
First Time Homeownership Program without below market interest rates.
PREVIOUS RELEVANT BOCC ACTION: Resolution 059-1995 appointing Board
Members to the Monroe County Housing Finance Authority..
I STAFF RECOMMENDATION:
Approvalreconnnended
TOTAL COST:
COST TO COUNTY: -0-
APPROVED BY: County ATTY OMB/Purch. N/A Risk Mgmt. N/A
MCHFA Approval: (,A/ Jf!c~&) '~~. j)~ (Staff)
CJ' (i ature) I s/~ol )'J1e.;r#T
DOCUMENTATION: Included: To Follow: Not Req'd:
Agenda Item #:
DISPOSITION: