Okaloosa County BOCC — August 19, 2014 — reading text

- 10 SPECIALTIES $ - 11 EQUIPMENT $ - 12 FURNISHINGS $ - 13 SPECIAL CONSTRUCTION $ - 14 CONVEYING $ - 15 MECHANICAL $ - 16 ELECTRICAL $ - 17 COMMUNICATIONS $ - uncategorized $ - SUBTOTAL $ 176,875 LIABILITY INSURANCE $ 88 CONTINGENCY $ - BUILDERS RISK $ 935 TOTAL COST + INSURANCE $ 177,898 FEE (5%) $ 8,895 TOTAL COST + O&P $ 186,793 BUILDING PERMIT $ - ADD FOR BOND $ 1,769 CONTRACT PRICE $ 188,562 Page 1 of 1 Packet Pg. 747  BOARD OF COUNTY COMMISSIONERS AGENDA REQUEST DATE: August 19, 2014 TO: Honorable Chairman and Members of the Board FROM: Roland Sims Jr. SUBJECT: Appointment to Value Adjustment Board DEPARTMENT: County Administrator BCC DISTRICT: All STATEMENT OF ISSUE: Request the Board consider the attached applicant and appointment to the Value Adjustment Board. BACKGROUND: At the June 17, 2014 BCC meeting, the Board elected to advertise for applicants for the citizen position on the Value Adjustment Board. RECOMMENDATIONS: Staff recommends consideration and appointment of applicant to the Value Adjustment Board. RECOMMENDED BY: APPROVED BY: Ernie Padgett, County Administrator Packet Pg. 748  BOARD OF COUNTY COMMISSIONERS AGENDA REQUEST DATE: August 19, 2014 TO: Honorable Chairman and Members of the Board FROM: Rick Owen SUBJECT: Short-term Capital Projects' Funding DEPARTMENT: County Administrator BCC DISTRICT: All STATEMENT OF ISSUE: Request Board consideration and approval of a resolution authorizing interim financing for public improvement projects. BACKGROUND: Currently, the county has three major non-enterprise capital construction projects in various stages of development. In the time between commencement of these projects and the Board approving long-term funding it is necessary to secure interim financing to fund these projects. RECOMMENDATION: Recommend Board consideration and approval of a resolution authorizing interim financing for public improvement projects. RECOMMENDED BY: APPROVED BY: Ernie Padgett, County Administrator Packet Pg. 749  NGN Draft No.2 8/11/14 019-19 OKALOOSA COUNTY, FLORIDA SALES TAX BOND ANTICIPATION NOTE RESOLUTION ADOPTED AUGUST 19, 2014 Packet Pg. 750  TABLE OF CONTENTS PAGE ARTICLE I GENERAL SECTION 1.01. DEFINITIONS..............................................................................................1 SECTION 1.02. AUTHORITY FOR RESOLUTION ............................................................5 SECTION 1.03. RESOLUTION TO CONSTITUTE CONTRACT.......................................5 SECTION 1.04. FINDINGS....................................................................................................5 SECTION 1.05. AUTHORIZATION OF PROJECTS ...........................................................5 ARTICLE II AUTHORIZATION, TERMS, EXECUTION AND REGISTRATION OF SERIES 2014 NOTE SECTION 2.01. AUTHORIZATION AND DESCRIPTION OF SERIES 2014 NOTE; THE SERIES 2014 NOTE............................................................................6 SECTION 2.02. APPLICATION OF SERIES 2014 NOTE PROCEEDS..............................6 SECTION 2.03. EXECUTION OF SERIES 2014 NOTE ......................................................7 SECTION 2.04. SERIES 2014 NOTE MUTILATED, DESTROYED, STOLEN OR LOST ............................................................................................................7 SECTION 2.05. INTERCHANGEABILITY, NEGOTIABILITY AND TRANSFER ..........7 SECTION 2.06. ADJUSTMENTS TO INTEREST RATE ....................................................8 SECTION 2.07. NON-USAGE FEE .......................................................................................9 SECTION 2.08. FORM OF SERIES 2014 NOTE ..................................................................9 ARTICLE III REDEMPTION OF NOTE SECTION 3.01. NOTICE OF REDEMPTION.....................................................................15 SECTION 3.02. PAYMENT OF REDEEMED NOTE.........................................................15 SECTION 3.03. PERMITTED AND REQUIRED REDEMPTIONS OF THE SERIES 2014 NOTE.................................................................................................15 ARTICLE IV SECURITY, SPECIAL FUNDS AND APPLICATION THEREOF SECTION 4.01. SERIES 2014 NOTE NOT TO BE INDEBTEDNESS OF COUNTY ......16 SECTION 4.02. SECURITY FOR SERIES 2014 NOTE .....................................................16 SECTION 4.03. NOTE CONSTRUCTION FUND ..............................................................16 SECTION 4.04. DEBT SERVICE FUND ............................................................................17 SECTION 4.05. APPLICATION OF SALES TAX REVENUES........................................17 SECTION 4.06. ARBITRAGE REBATE .............................................................................17 SECTION 4.07. INVESTMENTS.........................................................................................18 SECTION 4.08. SEPARATE ACCOUNTS..........................................................................18 Packet Pg. 751 SECTION 4.09. PAYMENT COVENANT ..........................................................................18 SECTION 4.10 SPECIAL COVENANT .............................................................................18 ARTICLE V COVENANTS OF THE COUNTY SECTION 5.01. BOOKS AND RECORDS..........................................................................20 SECTION 5.02. ISSUANCE OF ADDITIONAL INDEBTEDNESS ..................................20 SECTION 5.03 ANNUAL AUDIT ......................................................................................20 SECTION 5.04. NO IMPAIRMENT ....................................................................................20 SECTION 5.05. FEDERAL INCOME TAX COVENANTS ...............................................20 SECTION 5.06. COLLECTION OF SALES TAX REVENUES.........................................21 SECTION 5.07. OTHER MONEYS .....................................................................................21 SECTION 5.08. ADDITIONAL COVENANTS WITH RESPECT TO THE SERIES 2014 NOTE.................................................................................................21 ARTICLE VI DEFAULTS AND REMEDIES SECTION 6.01. EVENTS OF DEFAULT............................................................................22 SECTION 6.02. REMEDIES ................................................................................................22 SECTION 6.03. REMEDIES CUMULATIVE .....................................................................23 SECTION 6.04. WAIVER OF DEFAULT ...........................................................................23 ARTICLE VII SUPPLEMENTAL RESOLUTIONS SECTION 7.01. SUPPLEMENTAL RESOLUTIONS .........................................................24 ARTICLE VIII MISCELLANEOUS SECTION 8.01. DEFEASANCE ..........................................................................................25 SECTION 8.02. SALE OF SERIES 2014 NOTE .................................................................25 SECTION 8.03. NO ADVISORY OR FIDUCIARY RELATIONSHIP ..............................26 SECTION 8.04. VALIDATION AUTHORIZED.................................................................26 SECTION 8.05. APPOINTMENT OF PAYMENT AGENT AND REGISTRAR ..............26 SECTION 8.06. SEVERABILITY OF INVALID PROVISIONS .......................................26 SECTION 8.07. REPEAL OF INCONSISTENT RESOLUTIONS .....................................27 SECTION 8.08. EFFECTIVE DATE....................................................................................27 EXHIBIT A -- THE PROJECTS EXHIBIT B -- FORM OF DRAW CERTIFICATE Packet Pg. 752  A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF OKALOOSA COUNTY, FLORIDA, AUTHORIZING THE ISSUANCE BY THE COUNTY OF A $_________ OKALOOSA COUNTY, FLORIDA SALES TAX BOND ANTICIPATION NOTE, SERIES 2014, IN ORDER TO FINANCE AND REFINANCE CERTAIN CAPITAL COSTS ASSOCIATED WITH COUNTY FACILITIES; PLEDGING THE PROCEEDS OF THE COUNTY'S SALES TAX REVENUE BONDS, SERIES 2014 AND THE MONEYS RECEIVED BY THE COUNTY FROM THE COUNTY'S HALF-CENT SALES TAX REVENUES AS SECURITY THEREFOR; PROVIDING FOR THE RIGHTS OF THE HOLDERS OF SAID NOTE; AWARDING THE SALE OF SAID NOTE; AND PROVIDING FOR AN EFFECTIVE DATE FOR THIS RESOLUTION. BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF OKALOOSA COUNTY, FLORIDA, AS FOLLOWS: ARTICLE I GENERAL SECTION 1.01. DEFINITIONS. When used in this Resolution, the following terms shall have the meanings set forth below, unless the context clearly otherwise requires. All capitalized but undefined terms shall have the meanings set