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HomeMy WebLinkAbout1998-131 RESOLUTION NO. R-98- 131 RESOLUTION OF THE BOARD OF THE COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, APPROVING A FIRST AMENDMENT TO AN INTERLOCAL AGREEMENT AND THE ISSUANCE OF REVENUE BONDS IN AN AMOUNT NOT TO EXCEED$16,000,000 BY THE PALM BEACH COUNTY HEALTH FACILITIES AUTHORITY WHEREAS, the Palm Beach County Health Facilities Authority (the "Authority") is considering the issuance of not to exceed $16,000,000 aggregate principal amount of one or more series of its revenue bonds (the "Bonds"); and WHEREAS, the proceeds of the Bonds will be used by the Authority to make a loan to ACTS Retirement-Life Communities, Inc. (formerly known as Adult Communities Total Services, Inc. and defined herein as "ACTS") to be used to (i) finance or refinance the acquisition, construction, equipping and improving of the existing facilities of ACTS, as further described as follows: Name of Project Location Description of Existing Projects to be Financed FacWty St. Andrew's Estates 6152 North Verde Trail, 272 independent living Miscellaneous capital North Boca Raton units,central facilities improvements and (Palm Beach County) and a 120-bed medical renovations and the Florida 33433-4402 care facility acquisition of capital equipment Edgewater Pointe 23315 Blue Water 354 independent living Miscellaneous capital Estates Circle,Boca Raton units,central facilities, improvements and (Palm Beach County) 54 assisted living units renovations and the Florida 33433-7053 and a 99-bed medical acquisition of capital care facility equipment St. Andrew's Estates 6045 South Verde Trail 317 independent living Miscellaneous capital South Baca Raton units,central facilities improvements and (Pahn Beach County) and 40 assisted living renovations and the Florida 33433-4402 units acquisition of capital equipment 011.184382.1 -1- Name of Project Location Description of Existing Projects to be Financed Facility Indian River Estates 2250 Indian Creek Blvd. 349 independent living Miscellaneous capital East West,Vero Beach units,central facilities, improvements and (Indian River County) 71 assisted living units renovations and the Florida 32966-1395 and a 100-bed medical acquisition of capital care facility equipment -- Indian River Estates 7730 Indian Oaks Drive. 173 independent living Miscellaimms capital West Vero Beach units and central improvements and (Indian River County) facilities renovations and the Florida 32966-5133 acquisition of capital equipment, including, but not limited to,the construction of 70 independent living units and the acquisition of an approximately 10-acre tract of land located on the south side of 26" Street, between 82'd Avenue and 741 Avenue,adjacent and contiguous to the existing facilities,being property appraiser's Parcel Identification Number 01-33-38- 00001-0030-00001.0. (ii)finance the costs of capitalized interest; (iii)fund a portion of the 1998 Master Reserve Fund; and(iv)pay all or a portion of the expenses incurred in connection with the issuance of the Bonds; and WHEREAS,the Facilities are owned and operated by ACTS;and WHEREAS, the Authority proposes to finance two of the projects located in Indian River County pursuant to a First Amendment to an Interlocal Agreement previously executed and authorized by Section 163.01(4), Florida Statutes with the Board of County Commissioners of Indian River County, Florida; and 011.194382.1 -2- WHEREAS, pursuant to the requirements of Section 147(0(2)(A)(ii) the Internal Revenue Code of 1986 (the "Code") as a prerequisite to the issuance of the Bonds it is necessary that the Board of County Commissioners of Indian River County approve the issuance thereof after said public hearing; and WHEREAS, the Board of County Commissioners of Indian River County desires to - evidence its approval of the issuance of said Bonds solely to satisfy the requirements of the Code and its authorization of the Interlocal Agreement. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA: 1. That the Board of County Commissioners of Indian River County hereby approves the issuance of the Bonds solely for purposes of Section 147(f)of die Code. 2. That entry into a First Amendment to an Interlocal Agreement substantially in the form presented to this meeting and attached hereto as Exhibit A is hereby approved. 3. That this Resolution shall be effective immediately upon its adoption. The foregoing resolution was offered by Commissioner Adams who moved its adoption. The motion was seconded by Commissioner S t a n b r i�g e and upon being put to a vote,the vote was as follows: COMMISSIONER JOHN W. T I P P I N ,CHAIRMAN A Y E COMMISSIONER KENNETH R. MACHT AYE COMMISSIONER FRAN B. ADAMS AYE COMMISSIONERA Y F COMMISSIONER RUTH STANBRIDGE AYE 011.194382.1 -3- The Chair thereupon declared the resolution duly passed and adopted this 24'h day of November, 1998. INDIAN RIVER COUNTY, FLORIDA, BY c.- ITS BOARD OF COUNTY COMMISSIONERS (SW) . 0 H14 W TTPPTN _,Chairman JEFFREY K. BARTON ,Clerk B Deputy Clerk APPROVED AS TO FORM AND LEGAL SUFFICIENCY B . County Attorney inow ilnr Ca Approved Dale Admin. legal Jlpd cwdyeI q- L`cp HiSk Mgr. T 011.184382.1 -4— { 00 l3l FIRST AMENDMENT TO THE MERLOCAL AGREEMENT BETWEEN THE PALM BEACH COUNTY HEALTH FACH ITIES AUTHORITY AND INDIAN RIVER COUNTY WHEREAS, the Palm Beach County Health Facilities Authority (the "Authority")is a public body corporate,organized and existing under and by virtue of Chapter 154, Part III, Florida Statutes, and is a properly constituted Health Facilities Authority and a "public agency" and a"local agency" under Chapter 159, Part II, Florida Statutes;and WHEREAS, Indian River County (the "County") is a political subdivision of the State of Florida and a "public agency" and a "local agency" under Chapter 159, Part Il, Florida Statutes; and WHEREAS, the Authority and the County have heretofore entered into an Interlocal Agreement finally executed on November 27, 1996 (the "Interlocal Agreement"); and WHEREAS, the Authority is considering the financing of five (5) health care facilities,three (3)of which are in the jurisdiction of the Authority and two(2)of which are in the jurisdiction of the County, all pursuant to Chapter 159, Part II, Florida Statutes, and all of which are owned and operated by ACTS Retirement-Life Communities, Inc. (formerly known as Adult Community Total Services, Inc.) ("ACTS% a not-for-profit corporation determined to be tax-exempt under Section 501(c)(3) of the Internal Revenue Code of 1986 and duly licensed by the Florida Department of Insurance pursuant to Chapter 651, Florida Statutes;and WHEREAS, it is deemed desirable by both the Authority and County that the Authority and the County enter into this First Amendment to the Interlocal Agreement (the "Amendment") in order to assist ACTS by financing the said five (5) projects constituting "health care facilities" under Chapter 159.27(16)of the Florida Statutes; and WHEREAS, the Authority and ACTS have determined that the provision of funds by the Authority to ACTS will assist in the maintenance of the public health of the residents of the County, and shall serve a public purpose by improving the health and living conditions and providing adequate medical care and health care facilities therein and will promote the most efficient and economical maintenance of health care facilities in a manner Mid pursuant to forms of governmental organization that will accord best with the geographic, economic, and population characteristics which influence the health care needs of Palm Beach County and Indian River County and the inhabitants thereof, and WHEREAS, the Authority finds that ACTS will be financially responsible and fully capable and willing to fulfill its obligations including the obligation to mako the debt service Payments in the amounts and at the times required and the obligation to repair and maintain the health care facilities at its own expense;and 011.192429.1 a WHEREAS, title to the health care facilities shall be in ACTS and neither the Authority, the County nor the State of Florida or any political subdivision thereof shall in any way be obligated to pay the principal, premium, if any,or interest on the Bonds to be issued to finance the said five(S)health care projects as the same shall become due, and the issuance of such Bonds shall not directly, indirectly, or contingently obligate the Authority, the County, the State of Florida, or any political subdivision thereof to levy or pledge any form of taxation whatsoever therefore or to make any appropriation from ad valorem taxation revenues or other revenues for their payment. NOW, THEREFORE, THIS FIRST AMENDMENT TO THE INTERLOCAL AGREEMENT, between the Palm Beach County Health Facilities Authority and Indian River County, WITNESSETH AS FOLLOWS: SECTION ONE. At all times prior to and during the term of this agreement the Authority and County constitute "public agencies" as that term is defined in Section 163.02(3)(b), Florida Statutes, as amended, and both the Authority and the County have in common the power and authority to issue revenue bonds in order to provide financing for the acquisition, operation and maintenance of health care facilities, such power and authority as each might exercise separately. SECTION TWO. The Authority and County are entering into this Amendment in order to more effectively perform their service function related to the provision of adequate health care facilities and services pursuant to the powers granted under Section 163.01, Florida Statutes, as amended, and to permit the Authority to operate within the jurisdiction of the County for the purpose of financing the two health care facilities owned by ACTS within the County. SECTION THREE. This Amendment shall in no way be interpreted to authorize the delegation of the constitutional or statutory duties of the Authority, the County, the State of Florida,or any officers of any political subdivision thereof. SECTION FOUR. This Amendment and the Bonds shall not be deemed to constitute a debt, liability or obligation of or pledge of the faith and credit of Indian River County, Palm Beach County, the Authority, the State of Florida, or any political subdivision thereof. The issuance of the Bonds shall not directly, indirectly, or contingently obligate the Authority, the County, Palm Beach County, the State of Florida, or any political subdivision thereof to levy or to pledge any form of taxation whatsoever therefore, or to make any appropriation for their payment. SECTION FIVE. Titre to the health care facilities financed pursuant to this Amendment shall be in ACTS and neither the Authority nor the County shall have any title or interest therein. IN WITNESS WHEREOF, this Amendment has been executed by and on behalf of the County by its Chairman and the seal of said County affixed hereto and attested by the 011.192429.1 -2- • Clerk of the County, the Authority has caused this Amendment to be executed by its Chairperson, its seal affixed hereto, as attested by a Designated Member of said Authority. ATTEST: INDIAN RIVER COUNTY,FLORIDA Itszuwry C 4-e&f< M (SEAL) ATTW: PALM BEACH COUNTY HEALTH FACILITIES AUTHORITY By By Designated Member Chairperson Inafn Pove Ci AOOrOYeO Oy10 Admin. Legal y 8udyel Not Rlsk Mgr. 1.112429.1 -3- STATE OF FLORIDA ) COUNTY OF INDIAN RIVER ) a Notary Public in and for said County in said State, hereby certify that on-A w Atu—El/ , 1998,. VMAJ • w, rlfp- s] , whose name as the Chairman of the Board of County Commissioners of Indian River County, Florida is.signed to the foregoing First Amendment to the Interlocal Agreement and who is known to me, acknowledged before me on this day that, being informed of the contents of said First Amendment to the Interlocal Agreement, $he, in hid capacity as Chairman of the Board of County Commission of Indian River County,State of Florida, executed /Jthe same voluntarily. �ird i a Notary Public,State of Florida My Commission Expires: allI3..9 o_ r t�o�r1� FWd& of 1.192429.1 STATE OF FLORIDA COUNTY OF PALM BEACH j a Notary'Public in and for said County She, Eby certify that on 1998, ty in said acme as the Chairperson of the Palm Beach County Health Facilities Authoritywhose the foreSolag First Amendment to the interlocal Agreement and who is known tomme, ulmowledged before me on this day that, being informed of the —.-__._....Ameadtsamt to the interlocal Agreement, she, in her ca aci contentsirpso °f said First Beach County Health Facilities Authority,executed the same voluntarily. luucperson of the Palm Notary Public, State of Florida My Commission Expires: 924".1 -S-