Item R1
BOARD OF COUNTY COMMISSIONERS
SITTING AS THE INDUSTRIAL DEVELOPMENT AUTHORITY
AGENDA ITEM SUMMARY
Meeting Date: July 26, 2000
Division: County Attorney
Bulk Item:
Yes
No
x
AGENDA ITEM WORDING:
Approval of a Resolution amending Resolution No. 002-1999 in order to provide for waiver
of fees for non-profit issuers of IDA Bonds.
ITEM BACKGROUND:
Resolution No. 002-1999 approved on March 10, 1999.
PREVIOUS RELEVANT BOCC ACTION:
STAFF RECOMMENDATION:
Approval.
BUDGETED: Yes
No
TOTAL COST:
Cost to County:
APPROVED BY:
County Attorney X OMB/Purchasing Risk Management
DIVISION DIRECTOR APPROVA~-
DOCUMENTATION:
Included x
To Follow
Not required_
AGENDA ITEM #
I..ILI
County Attorney
RESOLUTION NO. .
- 2000
A RESOLUTION OF THE MONROE COUNTY INDUSTRIAL DEVELOPMENT
AUTHORITY AMENDING IDA RESOLUTION NO. 002-1999 IN ORDER TO
AUTHORIZE THE AUTHORITY TO WAIVE FEES FOR NON-PROFIT ISSUERS OF
INDUSTRIAL DEVELOPMENT BONDS.
BE IT RESOLVED BY THE GOVERNING BOARD OF THE MONROE COUN1Y INDUSTJUAL
DEVELOPMENT AUTHORI1Y:
Section 1.
Section 1 of IDA Resolution No. 002-1999 is hereby amended by the addition of
the following:
a) A one-time $5,000 non-refundable application fee due before an application for
the issuance of industrial revenue bonds may be accepted by the Authority;
b) A fee equal to one-half of one percent of the face value of the industrial revenue
bonds due from the bond proceeds upon the initial sale of the bonds.
c) The fees established in this resolution may be waived by the Authority for
industrial revenue bonds of a non-profit issuer Qualified under 501(c)(3) of the IRC that also
performs a community service or function of a sufficient public purpose that the Board of
County Commissioners could. if desired. lawfully expend public funds on such service or function.
PASSED AND ADOPTED by the Governing Board of the Monroe County Industrial Development
Authority at a regular meeting held on the
day of
,2000
(SEAL)
ATTEST:
GOVERNING BOARD OF THE MONROE COUN1Y
INDUSTRIAL DEVELOPMENT AUTHORI1Y
J~
Clerk/Secretary
jdresidafeei
By
By
Chairman