HomeMy WebLinkAboutResolution 2000-05
RESOLUTION NO. 2000-05
A RESOLUTION OF THE CITY OF OCOEE, FLORIDA,
ESTABLISHING ITS INTENT TO REIMBURSE CERTAIN
PROJECT COSTS RELATING TO THE ACQUISITION AND
DEVELOPMENT OF PUBLIC PROPERTY AND CAPITAL
IMPROVEMENTS THERETO WITH PROCEEDS OF FUTURE
TAX-EXEMPT FINANCING; PROVIDING CERTAIN OTHER
MATTERS IN CONNECTION THEREWITH; AND PROVIDING
AN EFFECTIVE DATE.
WHEREAS, the City Commission of the City of Ocoee, Florida (the "Issuer") has
determined that the need exists to acquire certain real property and to construct certain capital
improvements consisting of the acquisition, construction, reconstruction, or development of
approximately 320 acres of vacant land adjacent to and east of Lake Apopkain the vicinity of Fullers
Cross Road and Ocoee-Apopka Road, including all property rights, easements, franchises and
equipment relating thereto and deemed necessary or convenient for the construction or acquisition or
the operation thereof (the "Project").
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY
OF OCOEE, FLORIDA, THAT:
SECTION 1. AUTHORITY. This Resolution (hereinafter called the "Resolution") is
adopted pursuant to the provisions of the Florida Constitution, Chapter 166, Florida Statutes, and
other applicable provisions of law.
SECTION 2. DECLARATION OF INTENT. The Issuer hereby expresses its intention to be
reimbursed from proceeds of a future tax-exempt financing for the Project to be paid by the Issuer in
connection with the acquisition, construction or reconstruction of the Project. Pending
reimbursement, the Issuer expects to use funds on deposit in its general fund to pay costs of the
Project. It is reasonably expected that the total amount of debt to be incurred by the Issuer to
reimburse itself for expenditures paid with respect to the Project will not exceed $4,000,000. This
Resolution is intended to constitute a "declaration of official intent" within the meaning of Section
1.150-2 of the Income Tax Regulations with respect to the Project.
SECTION 3. SEVERABILITY. If anyone or more of the provisions ofthis Resolution shall
for any reason be held illegal or invalid, such illegality or invalidity shall not affect any other
provision of this Resolution, but this Resolution shall be construed and enforced as if such illegal or
invalid provision had not been contained therein.
SECTION 4. REPEALING CLAUSE. All resolutions or orders and parts thereofin conflict
herewith to the extent of such conflicts, are hereby superseded and repealed.
SECTION 5. EFFECTIVE DATE. This resolution shall take effect immediately upon its
adoption this 15th day of August, 2000.
(SEAL)
CITY COMMISSION OF THE CITY OF OCOEE,
FLORIDA d
S~- CA,,4
S. Scott Vandergrift, Mayor .
A TrEST:
FOR USE AND RELIANCE ONLY
BY THE CITY OF OCOEE,
APPROVED AS TO F9RM AND
LEGALIL!' this , ~
day of . IjUv..T~, 2000
FOLE?7 & LARDN" -.1L. J
By: (J~~~ I ~
City Attorney
APPROVED BY THE OCOEE CITY
CO~~ISSION AT A MEETING HELD
ON L\.ClUS-r-- I:; ,2000
UNDER AGENDA ITEM NO-w. B
J: \Bondsl43 23\REIMRES
2