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HomeMy WebLinkAbout2022-008RESOLUTION NO. 22- 008 A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA PROVIDING CONSENT TO THE FLORIDA DEVELOPMENT FINANCE CORPORATION TO THE ISSUANCE OF REVENUE BONDS ON BEHALF OF NOPETRO ECO DISTRICT, LLC; AND PROVIDING AN EFFECTIVE DATE. BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS (THE "BOARD") OF INDIAN RIVER COUNTY, FLORIDA: WHEREAS, the Florida Development Finance Corporation (the "Issuer") was created by the Florida Development Finance Corporation Act, Chapter 288, Part X, Florida Statutes (the "Act") which provides, in part, that the Issuer may issue bonds to finance and refinance projects for the benefit of Florida businesses to enhance the economic development of the State of Florida (the "State"), provided that the Issuer has entered into an interlocal agreement with the local governmental agency in which the project will be located; and WHEREAS, the Issuer and the Board of County Commissioners of Indian River County, Florida (the "Board") have previously entered into an Interlocal Agreement, dated November 5, 2013, a copy of which is attached hereto as Exhibit "A" (the "Interlocal Agreement"), which permits the Issuer to issue bonds to finance and refinance projects located within the jurisdictional limits of Indian River County, Florida (the "County") subject to the Board's reserved right to consent to each such project; and WHEREAS, Nopetro Eco District, LLC (the "Borrower") has requested the issuance of the Issuer's solid waste disposal revenue bonds, in an aggregate principal amount not to exceed $20,000,000 (the "Bonds") in order to provide the financing for the acquisition, construction and equipping of a renewable natural gas production facility to be located at 925 74th Avenue SW, Vero Beach, Florida (collectively, the "Project"); and WHEREAS, as a result of the anticipated economic benefits associated with the Project, the issuance of the Bonds for the purposes of financing and refinancing the Project is deemed to be in the best interests of the citizens of the County. NOW THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Indian River County, Florida as follows: Section 1. Recitals. The foregoing recitals are true and correct and are hereby incorporated herein by reference. Section 2. Consent to Issuance of the Bonds. Based upon the foregoing, and pursuant to the terms of the Interlocal Agreement, the Board hereby consents to the issuance by the Issuer of the Bonds for the purposes of financing or refinancing the Project. 4839-0687-8421 v.4 Section 3. Limitation. The County shall have no responsibility with respect to the repayment of the Bonds. The Bonds and the interest thereon shall not constitute an indebtedness or pledge of the general credit or taxing power of the County but shall be payable solely from the revenues pledged therefor pursuant to financing agreements entered into by and among the Issuer and the Borrower and/or parties other than the County prior to or contemporaneously with the issuance of the Bonds. The approval given herein shall not be construed as (a) an endorsement of the creditworthiness of the Borrower or the financial viability of the Project, (b) a recommendation to any prospective purchaser of the Bonds, (c) an evaluation of the likelihood of the repayment of the debt service on the Bonds, or (d) an approval of any necessary rezoning applications nor for any other regulatory permits relating to the Project, and the County shall not be construed by reason of its adoption of this resolution to have made any such endorsement, finding or recommendation or to have waived any of the County's rights or estopping the County from asserting any rights or responsibilities it may have in that regard. Section 4. Repealing Clause. All restrictions or resolutions or portions thereof in conflict herewith are, to the extent of such conflict, hereby superseded and repealed. 2 Section 5. Effective Date. This resolution shall take effect immediately upon its adoption. This Resolution was moved for adoption by Commissioner Adams , and the motion was seconded by Commissioner Flescher , and, upon being put to a vote, the vote was as follows: Chairman Peter D. O'Bryan AYE Vice Chairman Joseph H. Earman AYE Commissioner Susan Adams AYE Commissioner Joseph E. Flescher AYE Commissioner Laura Moss AYE The Chairman thereupon declared this Resolution duly passed and adopted this 18 day of January, 2022. ,.•'•'ohiM Attest: Jeffrey R. Smith, Clerk of Court /7 d Comptro r By , t4'/6h'j Deputy Clerk Approved as to form and legal sufficiency By ylan Reingold, County Attorney W BOARD OF COUNTY COMMISSIgX-F "'. IND RIVER COUNTY, FLORIAX-'log , y e *r (1L ByA�, Peter D. O'Bryan, Chai an 's�o•. M EXHIBIT A INTERLOCAL AGREEMENT 3120130072839 RECORDED IN THE RECORDS OF JEFFREY R SMITH, CLERK OF CIRCUIT COURT INDIAN RIVER CO FL BK: 2718 PG: 795,11/14/2013 4:03 PM This instrument was prepared by or under the supervision of (and after recording should be returned to): Joseph B. Stanton, Esq. Broad and Cassel 390 N. Orange Ave. Suite 1400 Orlando, Florida 32801 DOC# 20140025434 R: 10690 P: 2571 01/15/2014 01:28:52 PM Page 1 of 4 Ree Fee: 35.50 Deed Doc Tax: $0.00 DOR Admin Fee: $0.00 Intangible Tax: 0.00 Mortgage Stamp: 0.00 Martha 0. Haynie, Comptroller OrangeCounty FL PU - Ret To: 6ROAD AND CASSEL 1119 KKM 1�XAMI 11 (Space reserved for Ckrk of Court) INTERLOCAL AGREEMENT THIS INTERLOCAL AGREEMENT ("Agreement") dated this 5ttday of November, 2013, is made by and between INDIAN RIVER COUNTY, FLORIDA (the "County') and the FLORIDA DEVELOPMENT FINANCE CORPORATION (the "FDFC'). WHEREAS, the Legislature of the State of Florida (the "Legislature') adopted the Florida Development Finance Corporation Act of 1993 (the "Act"); and WHEREAS, the Legislature determined that it was necessary, in order to achieve the purposes of the Act, as amended, to create a special development finance authority to cooperate and act in conjunction with public agencies of Florida's state and local governments through interlocal agreements pursuant to the Florida Interlocal Cooperation Act of 1969, as amended (the "Interlocal Act"), in the promotion and advancement of projects related to economic development throughout the State of Florida (the "State"); and WHEREAS, the County and the FDFC wish to achieve the purposes set forth in Section 288.9602, Florida Statutes; and WHEREAS, pursuant to the Act the FDFC was created, with the power to function for any purposes of the Act within the corporate limits of any public agency once it has entered into an interlocal agreement with that public agency; and WHEREAS, the County desires to enter into an interlocal agreement with the FDFC to allow the FDFC to act within the corporate limits of the County. NOW, THEREFORE, the County and the FDFC agree as follows: Section 1. Authorization to Act The County and the FDFC agree that the FDFC will have the full right, power and authority to exercise all powers set forth in the Act within the County's corporate limits; provided, however, that the Board of County Commissioners of Indian River County reserves the right to consent to each project to be financed within the jurisdictional limits of the County, and to adopt and amend policies applicable to obtaining the consent required herein. The County hereby consents to the 481445009.56141 1975100/5 SWA A TRUE COPY CERTIFICATION ON LAST PAGE J.R. SMITH, CLERK 20140025434 Page 2 of 4 BK: 2718 PG: 796 issuance by FDFC of its Revenue Bonds (the "Bonds") pursuant to this Interlocal Agreement, the proceeds of which will be loaned to Allied Fiber, LLC and/or one or more of its affiliates, subsidiaries or related entities, including without limitation, Allied Fiber -Florida, LLC, for the purpose of financing or refinancing the acquisition, construction, equipping and development activities associated with laying and installing fiber optic cable along the east coast of Florida. Section 2. Costs and Indebtedness The FDFC will be solely responsible for all indebtedness, liabilities, costs or expenses of the FDFC as permitted pursuant to the Act. The County will not be responsible for any indebtedness, liabilities, costs or expenses of the FDFC. All recording fees relating to the recording of this Agreement shall be the exclusive responsibility of FDFC. Bonds, notes or other indebtedness issued by FDFC: a. will not constitute and will not be construed as a debt, liability, or obligation of the County, the State or any subdivision thereof; b. will not constitute and will not be construed as a pledge of the faith and credit or any taxing power of the County or the State or any subdivision thereof; and C. will be limited obligations of the FDFC payable solely from and secured by a pledge of payments made by the FDFC and other funds provided therefore; d. will not reference in any context, except for geographic purposes, the political subdivision of the State known as Indian River County on or within said bond, note or other form of indebtedness. Section 3. Notification to County The FDFC shall notify the County Administrator and the County Economic Development Council within twenty (20) days of receipt of an application for financing pursuant to the Act for projects located in the County. Section 4. FDFC Operations The FDFC will be responsible for administering its own affairs pursuant to the Act and this Agreement and will not be required to obtain any further approval, consent or authorization from the County, except as the Act or any other provision of applicable law or this Agreement may provide. Section S. Effective Date of Agreement This Agreement is effective upon being filed with the Clerk of the Circuit Court of Indian River County, as required by law. u14 -MM 3u 3vnwax RW A TRUE COPY CERTIFICATION ON LAST PAGE .i.R. SMITH, CLERK BK: 2718 PG: 797 20140025434 Page 3 of 4 Section 6. Duration of Aueement The term of this Agreement will be for a one year period and shall automatically be renewed each year for an additional one year period unless the County or the FDFC provide written notice to the other party that the party wishes to terminate this Agreement. If that notice has been provided, this Agreement will terminate on or before sixty (60) days from the receipt of the notice. Such termination shall not affect any Bonds, notes or other indebtedness issued by FDFC pursuant to this Agreement prior to the effective date of any termination of this Agreement. Section 7. Severability If any one or more of the sections of this Agreement are held to be contrary to any express provision of law or contrary to any policy of express law, although not expressly prohibited, contrary to any express provision or provision of public policy or for any reason held invalid, then those sections will be null and void and will be deemed separate from any other sections of this Agreement. Section 8. Counterparts This Agreement may be executed in any number of counterparts, each of which, when so executed and delivered, shall be an original; but such counterparts shall together constitute but one and the same Agreement, and, in malting proof of this Agreement, it shall not be necessary to produce or account for more than one such counterpart. IN WITNESS WHEREOF, the County and the FDFC have caused this Agreement to be executed by their duly authorized representatives. APPROVED this 5th day of November , 2013. ATTEST: Jeffrey R. Smith, Clerk of BOARD OF COUNTY COMMISSIONERS,.. • • uw Court and Comptroller INDIAN RIVER COUNTY ("County") •.••�pM�IS BBy: t Deputy Jerk/Jdsepi9t. Flescher, Chairman s Approved: spti aid, County Administrator a1+50094M.3 )97Swoa WA Approved as to form and legal suflicien' ✓'• rt Reingold, County Attorney A TRUE COPY CERTIFICATION ON LAST PAGE J.R. SMITH, CLERK 20140025434 Page 4 of 4 BK: 2718 PG: 798 FLORIDA DEVEL MENT FINANCE CORPORATION By: STATE OF FLORIDA COUNTY OF Q('aMG SWORN TO AND SUBSCRIBED before me this Ply day of 6cfeb6- , 2013 by Bi l ( 50" — _ who is personally known to me or who produced o.- n • •.� as identification. UNDA LE MOW my 11l r MY COMMISSION #FF020003 (Print Name of Notary Public EXPIRES May 23, 2017 Non 3oe oSSJ Fl0MaN0t S@N1c*.00m Commission Expires:�A.90111 Commission # FP 00 g a3 44145009-SS7t.5 19751000 OAU STATE OF FLORIDA INDIAN RIVER COUNTY THIS IS TO CERTIFY THAT THIS ISA TRUE AND CORRECT COPY OF THE ORIGINAL ON FILE IN THIS OFFICE. THIS ORIGINAL MAY HAVE REDACTED INFORALATIONASSTATEO IN FLORIDA STATUE 119.A� `4; :ATI CFP