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Last modified
2/13/2025 2:02:55 PM
Creation date
2/13/2025 2:00:24 PM
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Resolutions
Resolution Number
2025-007
Approved Date
02/11/2025
Agenda Item Number
14.A.1.
Resolution Type
Revenue Bonds
Entity Name
Acts Retirement-Life Communities, Inc
Subject
Approving the issuance by the Palm Beach County Health Facilities authority of one
or more series of its retirement communities revenue bonds, Series 2025 (Acts Retirement-
Life Communities, Inc. Obligated group) in an amount not to exceed $70,000,000.
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EXHIBIT B <br />SEVENTH AMENDMENT TO AN INTERLOCAL AGREEMENT <br />SEVENTH AMENDMENT <br />TO THE INTERLOCAL AGREEMENT <br />BETWEEN THE PALM BEACH COUNTY <br />HEALTH FACILITIES AUTHORITY AND INDIAN RIVER COUNTY <br />WHEREAS, the Palm Beach County Health Facilities Authority (the "Authority") is a <br />public body corporate, organized and existing under and by virtue of Chapter 154, Part III, Florida <br />Statutes, and is a properly constituted Health Facilities Authority and a "public agency" and a <br />"local agency" under Chapter 159, Part II, Florida Statutes; and <br />WHEREAS, Indian River County (the "County") is a political subdivision of the State of <br />Florida and a "public agency" and a "local agency" under Chapter 159, Part II, Florida Statutes; <br />and <br />WHEREAS, the Authority and the County have heretofore entered into an Interlocal <br />Agreement finally executed on November 27, 1996, as previously amended by (i) a First <br />Amendment to the Interlocal Agreement executed by the County on November 24, 1998 and by <br />the Authority on December 14, 1998, (ii) a Second Amendment to the Interlocal Agreement <br />executed by the County and the Authority as of December 6, 2006, (iii) a Third Amendment to the <br />Interlocal Agreement executed by the County on October 19, 2010, and by the Authority on <br />November 3, 2010, (iv) a Fourth Amendment to the Interlocal Agreement executed by the County <br />on June 7, 2016, and by the Authority on June 3, 2016, (v) a Fifth Amendment to the Interlocal <br />Agreement executed by the County and the Authority as of May 15, 2018, and (vi) a Sixth <br />Amendment to the Interlocal Agreement executed by the County and the Authority as of April 14, <br />2020 (collectively, the "Interlocal Agreement"); and <br />WHEREAS, the Authority is considering the additional financing, through the issuance of <br />its revenue bonds (the 'Bonds") pursuant to Chapter 159, Part II, Florida Statutes, of a project <br />consisting of the financing or refinancing of costs of improvements and additions to six (6) health <br />care facilities, with three (3) locations in the jurisdiction of the Authority and two (2) locations in <br />the jurisdiction of the County, all of which are owned and operated by ACTS Retirement -Life <br />Communities, Inc. ("ACTS"), a not-for-profit corporation determined to be tax-exempt under <br />Section 501(c)(3) of the Internal Revenue Code of 1986, as amended, and duly licensed by the <br />Florida Department of Insurance pursuant to Chapter 651, Florida Statutes; and <br />WHEREAS, it is deemed desirable by both the Authority and County that the Authority <br />and the County enter into this Seventh Amendment to the Interlocal Agreement (this <br />"Amendment") in order to assist ACTS by financing the said project constituting "health care <br />facilities" under Section 159.27(16) of the Florida Statutes; and <br />
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