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Last modified
10/13/2025 12:21:41 PM
Creation date
10/13/2025 12:18:40 PM
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Resolutions
Resolution Number
2025-061
Approved Date
10/07/2025
Agenda Item Number
14.C
Resolution Type
Authorizing the Sale of Recenue Bonds
Entity Name
Sandridge Golf Club
Subject
Authorizing Capital Revenue Bonds for the Sandridge Golf Club new clubhouse.
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[, ] (the "Vero Beach Electricity Agreement"), that expires [ , 1. The <br />Vero Beach Electricity Agreement calls for a fee equal to a percentage of the sales of <br />electricity by the City of Vero Beach in the unincorporated area of the County. <br />Additionally, the County receives gas Franchise Fee revenues from Pivotal Utility <br />Holdings, Inc., d/b/a Florida City Gas ("Florida City Gas"), pursuant to Ordinance No. <br />2013-112 enacted by the County on June 18, 2013 (the "Florida City Gas Agreement"), <br />that expires June 30, 2038, with successive 10 -year renewal periods. The Florida City Gas <br />Agreement calls for payment to the County equal to a percentage of monthly gross <br />revenues, less any adjustments for uncollectible accounts, from the sale, transportation, <br />distribution or delivery of natural gas to customers within the unincorporated area of the <br />County. <br />The County also receives solid waste disposal Franchise Fee revenues from Waste <br />Management Inc. of Florida ("Waste Management") pursuant to a Solid Waste and <br />Recyclables Collection Franchise Agreement (The "Waste Management Agreement"), <br />entered into between the County and Waste Management on July 2, 2024, that terminates <br />on September 30, 2030 with one additional 3 -year renewal period and a following, <br />additional 2 -year renewal period. The Waste Management Agreement calls for a payment <br />equal to a percentage of monthly gross revenues. In addition to the solid waste disposal <br />Franchise Fee collected pursuant to the Waste Management Agreement, the County <br />collects a non-exclusive Franchise Fee equal to a percentage of the tipping fee paid to any <br />processing facility which accepts construction and demolition debris pursuant to Ordinance <br />No. 12012-0111 enacted by the County on [ , 20121. <br />Pursuant to Ordinance No. enacted by the County on the <br />County collects a fee -in -lieu -of -franchise fee equal to a percentage of the gross revenue <br />derived from the sale of water and sewer services by the County's division of utility <br />services. ' In addition, the County collects a fee equal to a percentage of the gross revenues <br />derived by the City Vero Beach from the sale of water or sewer services to the <br />unincorporated areas of the County who receive water, sewer or electric services from the <br />City of Vero Beach pursuant to Ordinance No. [ enacted by the County on [, <br />1, that expires [ , �. <br />There is no guarantee that any of these services will continue to be provided by <br />private entities in the future rather than by governmental entities, including the County or <br />City of Vero Beach. Additionally, continued receipt of all of the Franchise Fees is <br />dependent upon the continued financial viability of the County's franchisees and the <br />continued need by the County's citizens for the services provided. <br />Franchise fees received by the County are deposited to the credit of the General <br />Fund and may be used for any lawful purpose. <br />21 <br />
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