Resolution 344-1985
RESOLUTION NO. 344-1985
RESOLUTION APPROVING THE ISSUANCE OF $7,900,000
INDUSTRIAL DEVELOPMENT REVENUE BONDS OF THE MON-
ROE COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY TO
FINANCE A CAPITAL PROJECT FOR HOTEL GROUP JOINT
VENTURE, ("HOTEL GROUP JOINT VENTURE PROJECT").
WHEREAS, Hotel Group Joint Venture, a Florida general part-
nership, has applied to the Monroe County Industrial Development
Authority (the "Authority") for industrial development revenue
bond financing assistance in the amount of $7,900,000 to pay all
or a portion of the costs of the acquisition and construction of
a ISO-room Hampton Inn Hotel "tourism facility" and "public lodg-
ing or restaurant facility", including the acquisition of a site
and construction of a building and the acquisition of equipment
and fixtures material thereto (the "Project"), to be located in
the City of Key West, Monroe County, Florida, at North Roosevelt
Boulevard (U.S. Highway No.1) on the north side between Kennedy
and MacMillon Drives, to be owned by Hotel Group Joint Venture and
to be operated by the Continental Companies, a Florida general
partnership; and
WHEREAS, the Monroe County, Florida, Board of County Commis-
sioners concurs in the findings of the Monroe County Industrial
Development Authority that the Project will inure to the benefit
of the citizens of Monroe County, Florida, and serve a paramount
public purpose.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COM-
MISSIONERS OF MONROE COUNTY, FLORIDA:
Section 1.
All prior actions of the Authority regarding
the Project are hereby approved and ratified by the Board, and the
issuance of $7,900,000 Industrial Development Revenue Bonds by the
Monroe County Industrial Development Authority for the Project is
hereby approved.
Section 2.
This resolution shall take effect immediately
upon passage.
The foregoing resolution was offered by Commissioner
F.ilwi n swi ft
, who moved its adoption. The motion was
seconded by Corrrrnissioner William Freeman
and upon being
put to vote, the vote was as follows:
Ccmnissioner Freeman Yes
Carmissioner stonront No
Ccmnissioner Swift Yes
Mayor Pro Tern Fahrer Yes
The Mayor thereupon declared the resolution duly passed and
adopted this 6th day of
December
, A.D. 1985.
BOARD OF COUNTY CO}1MISSIONERS
OF MONROE COUNTY, FLORIDA
By $~~W
MAYOR/CHAIRMAN
(SEAL)
Attest: DANNY L. KOLHAGE, Clerk
"t2L#~~#/
. . CLERK
APPROVED AS TO FORM
AND{t: ~~:(I7~~;;-1,
BY Attorney's Office -- - (J I~