Laserfiche WebLink
RESOLUTION NO. 22- <br />A RESOLUTION OF THE BOARD OF COUNTY <br />COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA <br />PROVIDING CONSENT TO THE FLORIDA <br />DEVELOPMENT FINANCE CORPORATION TO THE <br />ISSUANCE OF REVENUE BONDS ON BEHALF OF <br />NOPETRO ECO DISTRICT, LLC; AND PROVIDING AN <br />EFFECTIVE DATE. <br />BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS (THE <br />"BOARD") OF INDIAN RIVER COUNTY, FLORIDA: <br />WHEREAS, the Florida Development Finance Corporation (the "Issuer") was created by <br />the Florida Development Finance Corporation Act, Chapter 288, Part X, Florida Statutes (the <br />"Act") which provides, in part, that the Issuer may issue bonds to finance and refinance projects <br />for the benefit of Florida businesses to enhance the economic development of the State of Florida <br />(the "State"), provided that the Issuer has entered into an interlocal agreement with the local <br />governmental agency in which the project will be located; and <br />WHEREAS, the Issuer and the Board of County Commissioners of Indian River County, <br />Florida (the "Board") have previously entered into an Interlocal Agreement, dated November 5, <br />2013, a copy of which is attached hereto as Exhibit "A" (the "Interlocal Agreement"), which <br />permits the Issuer to issue bonds to finance and refinance projects located within the jurisdictional <br />limits of Indian River County, Florida (the "County") subject to the Board's reserved right to <br />consent to each such project; and <br />WHEREAS, Nopetro Eco District, LLC (the "Borrower") has requested the issuance of <br />the Issuer's solid waste disposal revenue bonds, in an aggregate principal amount not to exceed <br />$20,000,000 (the "Bonds") in order to provide the financing for the acquisition, construction and <br />equipping of a renewable natural gas production facility to be located at 925 74th Avenue SW, <br />Vero Beach, Florida (collectively, the "Project"); and <br />WHEREAS, as a result of the anticipated economic benefits associated with the Project, <br />the issuance of the Bonds for the purposes of financing and refinancing the Project is deemed to <br />be in the best interests of the citizens of the County. <br />NOW THEREFORE, BE IT RESOLVED by the Board of County Commissioners of <br />Indian River County, Florida as follows: <br />Section 1. Recitals. The foregoing recitals are true and correct and are hereby <br />incorporated herein by reference. <br />Section 2. Consent to Issuance of the Bonds. Based upon the foregoing, and <br />pursuant to the terms of the Interlocal Agreement, the Board hereby consents to the issuance by <br />the Issuer of the Bonds for the purposes of financing or refinancing the Project. <br />144 <br />4839-0687-8421 v.4 <br />