Resolution 180-1983
RESOLUTION NO. 180-1983
A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS
OF MONROE COUNTY, FLORIDA APPROVING THE ISSUANCE
OF INDUSTRIAL DEVELOPMENT BONDS TO FINANCE A 120
BED SKILLED AND INTERMEDIATE CARE NURSING FACILITY
FOR BEVERLY ENTERPRISES, INC., d/b/a BEVERLY-GULF
COAST, INC.
WHEREAS, the Board of County Commissioners of Monroe County,
Florida has jurisdiction over Monroe County, Florida where Beverly
Enterprises, Inc., d/b/a Beverly-Gulf Coast, Inc. (the "Company"),
proposes to acquire or construct a 120 bed skilled and intermediate
care nursing facility (the "Project"), which Project is to be financed
from the proceeds of $4,950,000 aggregate principal amount Industrial
Development Revenue Bonds (the "Bonds"); and
WHEREAS, on April 13, 1983 the Monroe County Industrial Development
Authority adopted a Resolution expressing its intent to issue the
Bonds to finance the Project (the "Resolution"), a copy of which
Resolution is attached hereto as Exhibit A; and
WHEREAS, on April 15, 1983 notice of a public hearing (the
"Notice") was published in the Key West Citizen, a newspaper of
general circulation in Monroe County, Florida, a copy of which
Notice is attached hereto as Exhibit B; and
WHEREAS, on May 6, 1983, a public hearing (the "Hearing") was
conducted at the Monroe County Courthouse Annex, Marathon, Florida
concerning the issuance of the Bonds:
NOW, THEREFORE, be it resolved by the Board of County Commissioners
of Monroe County, Florida as follows:
1. The Notice was designed to and did apprise residents of
Monroe County, Florida of the proposed issuance of the Bonds, and
was published no fewer than 14 days before the scheduled date of
the Hearing.
2. The Hearing was conducted In a manner that provided a
reasonable opportunity for persons holding divergent opinions on
both the issuance of the Bonds and the location and nature of the
Project to express those opinions.
3. The Board of County Commissioners of Monroe County, Florida
having jurisdiction over Monroe County, Florida, the location of the
Project, hereby approves the issuance of the Bonds as contemplated
by the Resolution for the purpose of financing the Project for the
Company.
4. This approval is intended to comply with the provisions
of Section l03(k) of the Internal Revenue Code of 1954, as amended.
PASSED AND ADOPTED by the Board of County Commissioners of
Monroe County, Florida at a regular meeting held on the lath day
of June, A.D. 1983.
BOARD OF COUNTY COMMISSIONERS
Or MONROE COUNTY, FL<fORID-4A ---. t#
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RESOLUTION 83- ~
A RESOLUTION OF MONROE COUNTY
INDUSTRIAL DEVELOPMENT AUTHORITY,
TAKING OFFICIAL ACTION
TOWARD THE ISSUANCE OF ITS INDUSTRIAL
DEVELOPMENT REVENUE BONDS TO FINANCE THE
CONSTRUCTION AND EQUIPPING OF A l20-BED SKILLED AND
INTERMEDIATE CARE NURSING HOME FACILITY IN MONROE
COUNTY; APPROVING THE FORM AND EXECUTION OF AN
ASSISTANCE AGREEMENT; PROVIDING AN EFFECTIVE DATE.
WHEREAS, Monroe County Industrial Development Authority (the
"Authority"), is a public body corporate and politic under the laws of the
State of Florida, particularly Part III of Chapter 159, Florida Statutes,
as amended; and,
WHEREAS, the Authority is a "local agency" as defined in and
which is authorized by the provisions of Part II of Chapter 159, and
particularly Sections 159.25 through 159.43, Florida Statutes, as amended,
entitled "Florida Industrial Development Financing Act" (collectively, the
"Act"), to acquire by purchase, lease, gift, or otherwise, or to obtain
options for the acquisition of, any property, real or personal, improved or
unimproved, for the construction, operation, or maintenance of any project,
as defined in the Act, and to make and execute financing agreements, con-
tracts, deeds, and other instruments necessary to effectuate the purposes
of the Act; and
WHEREAS, a project, as defined in the Act, includes a "health-
care facility", and,
WHEREAS, "health-care facility", as defined in the Act, includes
property used for or useful in connection with the diagnosis, treatment,
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EXHIBn
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therapy, rehabilitation, or care of or for sick, ill, injured, infirm,
impaired, disabled, or handicapped persons, without discrimination among
such persons due to race, religion, or national origin, or for the preven-
tion, detection, and control of disease, including nursing home facilities;
and,
WHEREAS, the Legislature and the Supreme Court of the State of
Florida have found and determined that the acquisition, construction, and
financing of a "health-care" facility" serves a predominate public purpose;
and
WHEREAS, Beverly Enterprises, Inc. (d/b/a Beverly-Gulf Coast,
Inc.) (the "Company") has requested and the Authority has agreed to use its
best efforts to issue its industrial development revenue bonds (the
'~onds'~, if the Authority is satisfied that the conditions to the issuance
of said Bonds contained in the Act are satisfied, and to use the proceeds
of the Bonds to construct and equip a 120-bed skilled and intermediate care
nursing home facility to be constructed on land located on Key Vaca, Monroe
County, Florida, (the ''Project'') and to pay the costs of issuing the bonds,
all of which would greatly benefit the health and living conditions of the
citizens of the County; and
WHEREAS, such assistance has been determined to be necessary to
induce the Company to construct and equ1p the Project for the benefit of
Honroe County (the "County") and the State of Florida, by providing public
facilities and increasing employment, and by making modern and efficient
health care facilities available to the citizens of the County and the
State of Florida; and,
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-_._._-----~-_._- --------~-.
WHEREAS, after careful study and investigation of the Company and
of the nature of the Project, the Authority finds and determines that the
Project would make a significant contribution to the public welfare of the
County, would increase gainful employment, and would serve a public purpose
by advancing the economic prosperity and general welfare of the State of
Florida and its people; and,
WHEREAS, location of the Project in Monroe County will improve
the competitive position of the County and State to attract manufacturing,
development, business enterprise management, and other activities conducive
to economic promotion, in order to provide a stronger, more balanced, and
stable economy for the County and the State of Florida while otherwise
providing for the health and safety of the people; and,
WHEREAS, the Company has requested the Authority to provide for
the issuance of bonds in the principal amount of approximately Four Million
Nine Hundred Fifty Thousand Dollars ($4,950,000) to finance the construc-
tion and equipping of the Project and the Authority has now determined that
the most feasible method of financing and accomplishing the Project is by
the issuance of its Industrial Development Revenue Bonds, 1983 Series
(Beverly Enterprises, Inc. Project) (the "Bonds") in the principal amount
of Four Million Nine Hundred Fifty Thousand Dollars ($4,950,000) or such
greater amount as shall be necessary to pay Costs of the Project (as
defined in the Act), but in no event in excess of Ten Million Dollars
( $1 0 , 0 0 0 , 0 00); and,
WHEREAS, the Authority will make the proceeds of the Bonds avail-
able to the Company pursuant to an installment sale agreement, lease agree-
3
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ment, loan agreement, or similar financing arrangement, between the Author-
ity and the Company which is to be dated as of the date of the Bonds (the
"Agreement"), which Agreement will provide funds sufficient to pay, when
due, all of the principal of, premium, if any, and interest on the Bonds
and other costs associated with the issuance thereof; and,
WHEREAS, this resolution is an affirmative official action toward
the issuance of the Bonds by the Authority within the meaning of the
applicable provisions of Section 103 of the Internal Revenue Code of 1954,
as amended, and the Regulations thereunder;
WHEREAS, neither the Bonds nor the interest thereon shall consti-
tute a general obligation of the Authority or the County, or constitute an
indebtedness or general obligation of the Authority, the State of Florida,
the County or any political subdivision thereof, within the meaning of any
constitutional or statutory prov~s~on whatsoever, but such Bonds and cou-
pons shall be payable solely from the funds derived pursuant to the Agree-
ment and pledged as security to the bondholders;
NOW, THEREFORE, BE IT RESOLVED BY THE MONROE COUNTY INDUSTRIAL
DEVELOPMENT AUTHORITY:
Section 1. The Authority hereby agrees to use its best effort to
issue its bonds to finance the Project, subject to the terms and conditions
~ontained in the Assistance Agreement between the Authority and the Company
in substantially the form attached to this Resolution as Exhibit A and
incorporated herein. The Chairman is authorized to execute and the Secre-
tary or any Assistant Secretary is authorized to attest such Assistance
4
Agreement, with such changes therein as shall be approved from time to time
by such officers executing the same, such approval to be conclusive evl.-
dence by their execution thereof and agrees to take all necessary action
required by the Internal Revenue Code of 1954, as amended (the "Code"),
prior to the issuance of the Bonds, including, providing for the conduct of
a public hearing by the Board of County Commissioners of Monroe County to
approve the issuance and sale of the Bonds and obtaining the approval of
the appropriate official of the County as required by Section 103(k) of the
Code.
Section 2. Such officers and all other officers and employees of
the Authority are hereby authorized to execute such further agreements and
take such further action as shall be necessary to carry out the intent and
purposes expressed in such Assistance Agreement attached as Exhibit A, upon
its becoming effective on execution by the Company, and are further author-
ized to take such further steps and actions as shall be required and
necessary to further the issuance of such Bonds.
Section 3. This Resolution shall take effect immediately upon
its pas sage.
DULY ADOPTED l.n regular sessl.on,
this l-t:t.
day of April, 1983:
COUNTY INDUSTRIAL
NT AUTHORITY, By:
WADE
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Attested to By:
~kmR
Secretary
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CERTIFICATE OF
INDUSTRIAL DEVELOPMENT AUTHORITY
REGARDING PUBLIC HEARING ON
INDUSTRIAL DEVELOPMENT BONDS
The Monroe County Industrial Development Authority proposes to
issue Industrial Development Revenue Bonds in the aggregate principal
amount of $4,950,000 (the "Bonds") to finance the acquisition or construc-
tion by Beverly Enterprises, Inc., doing business as Beverly-Gulf Coast,
Inc. (the "Company"), of a 120-bed skilled and intermediate care nursing
facility (the "Project").
On April 13, 1983 the Monroe County Industr ia 1 Deve lopmen t Au-
thority enacted a Resolution signifying its intent to issue the Bonds t.(>
finance the Project (the "Resolution"), a copy of which Resolution is
attached hereto as Exhibit A.
On April 15, 1983 notice of a public hearing (the "Notice") was
published in the !gy West Citizen, a copy of which Notice is attached
hereto as Exhibit B. The Notice was designed to apprise residents of
Monroe County, Florida of the proposed issuance of the Bonds and was pub-
lished no fewer than 14 days before the scheduled date of the public
hearing described in the Notice.
On May 6, 1983 a public hearing (the ''Hearing'') was conducted at
the Monroe County Courthouse Annex, Marathon, Florida concerning the issu-
ance of the Bonds. The Hearing was conducted in a manner that provided a
reasonable opportunity for members of the public with differing opinions to
express those opinions, both with respect to the issuance of the Bonds and
the location and nature of the Project. The Hearing was conducted in a
manner which complied with Section 103(k) of the Internal Revenue Code of
1954, as amended.
The Monroe County Industrial Development Authority hereby
certifies to the Board of Commissioners of Monroe County that the Authority
has conducted the Hearing in order that the Board of Commissioners may take
the action prescribed by Section 103(k) of the Internal Revenue Code of
1954, as amended, necessary for the issuance of the Bonds.
MONROE COUNTY INDUSTRIAL DEVELOPMENT
'ORI~. By:
~"-t../L-
...-;:STANLEY K. WADE
. Chairman
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Attested to By:
May ~S-
, 1983
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PROOF OF, PUBL ICATlON
THE KEY WEST CITIZEN
Published Daily
Key West, Monroe County, Florida 33040
"
STATE OF FLORIDA)
COUNTY OF MONROE)
ss.
Before the undersigned authority personally appeared..............
BOBBY ADRIAN
. . . . . . . . . . . . . . . . . . . . . . . . . . ., who on oath says that he is
Advertising Man3(fer
. . . . . . . . . . . . . . . . . . . . . '. . . . . . . . . of The Key Wes t Ci t izen, a
,
.............
daily newspap~F published at Key West in Monroe County, Florida; that
the attached copy of advertisement, being a
NOTICE'OF PUBLIC
HEARING CONCERNING
THE ISSUANCE OF
INDUSTRIAL
DEVELOPMENT BONDS
Notice is hereby given that
a public hearing will be
conducted concerning the
approval of the issuance of
industrial development bonds
In an amount estimated at
approximately Four million
nine hundred fifty thousand
dollars ($4,950,000) to be
Issued by the Monroe County
Industrial Development
Authority for the purpose of
finanCing a 120 bed nursing
home to be located on the
eastern side of Sombrero
Beach Road, immediately
north of Marathon High
School, Marathon, Monroe
was published in said newspaper in the issues of County, Florida.' The bonds
will not constitute a debt of
/',/ ),1" '.' /'-- / /'1/ ," 1hp SIdle 0/ Florio;, or ;,nv
/ ,,/ 1 , j ( -. '7 political subdivision thereof,
i.. PI!' 0" (.i , ..-/ . ,,:;. but will be payable SOlely
/" I from payments made by
Beverly. Enterprises, a
Affiant further says that the said The Key Hest Ci ~~~~~~~'~GcU~~P~~;~\~7'n~..~~
Interested parties are invited
newspaper published at Key West, in said }1onro~ County, to present comments at the
that the said newspaper has heretofore been continuousl ~~~~~s~~~~~niariedgta~:~~~i~~~
i . d M C Fl' d h d S' being financed thereby. The
n Sal. onroe .ounty. or1 a, eac ay except aturaa public hearing will be held on
been entered as second class mail matter at the post of May 6, 1983at4:oop.m. atthe
County of Monroe Courthouse
Hest. in said Monroe County, Florida, for a period of Annex, 3117 Overseas High.
, way, Marathon, Flor.ida. '
preceeding the firf;t publication of the attached copy C April 15, 1983
ment; and affiant further says that he has neither paid -----__
any person, firm or corporation any discount, rebate, conmission or
refund for the purpose of securing this advertisement for publication
in the said news~aper.
in the matter of
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