Okaloosa County BOCC — February 3, 2015 — reimb-inducement resolution

Jon Motris From: Greg Stewart Sent: Tuesday, January 20, 2015 2:27 PM To: Jon Morris Cc: 'Miller, Steve"; 'William Case'; Sunil Harman; 'jtomec@aol.com'; mmustian@ngnlaw.com Subject: RE: CLEAN 2015--Reimbursement Resolution 1.doc Jon - You can process the reimbursement resolution for BCC approval. Gregory T. Stewart County Attorney Okaloosa County, Florida Please note: Due to Florida's very broad public records laws, most written communications to or from County employees regarding County business are public records, available to the public and media upon request. Therefore, this written e-mail communication, including your e-mail address, may be subject to public disclosure. From: Jon Morris Sent: Tuesday, January 20, 2015 1:53 PM To: Greg Stewart Cc: 'Miller, Steve'; 'William Case'; Sunil Harman; 'jtomec@aol.com' Subject: CLEAN 2015--Reimbursement Resolution 1.doc Greg, | have updated this resolution with Steve’s recommendations. | show the ARFF to be constructed on NWF Regional Airport’s Leasehold. This separate leasehold is in the middle of the Eglin runway system to provide better, quicker access to aircraft incidents. May we have your concurrence to submit as shown to the BCC? Thanks, ]m Jon Morris, C.M. Administration & Finance Manager Okaloosa County Airports (850)651-7160 Ext 1005 A RESOLUTION OF OKALOOSA COUNTY, FLORIDA WITH RESPECT TO REIMBURSEMENT OF CERTAIN COSTS AND EXPENDITURES RELATING TO IMPROVEMENTS IN AND FOR OKALOOSA COUNTY, FLORIDA. WHEREAS, Okaloosa County, Florida (the "County")has incurred various costs and expenditures relating to certain capital costs associated with improvements to County airports; and WHEREAS, the County has determined it is in its best interest to reimburse such costs from proceeds of tax-exempt debt; and WHEREAS, the United States Department of Treasury has issued various regulations in regard to reimbursement of governmental costs through the issuance of tax-exempt debt; NOV, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF OKALOOSA COUNTY, FLORIDA: SECTION 1. It is the intent of the County to reimburse various costs and expenditures relating to the acquisition of certain capital costs associated with improvements to the County airports. The major capital projects anticipated include the Aircraft Rescuc and Fire Fighting facility to be constructed on Northwest Florida Regional Airport’s leaschold, the Air Traffic Control Tower to be constructed at Destin Airport, a new access road at Bob Sikes Airport, and the Baggage Handling/Explosive Detection System upgrade at Northwest Florida Regional Airport. The County reasonably anticipates that it will pay for such costs and expenditures from general revenues of the County’s Airports. It is reasonably expected that reimbursement of such costs and expenditures shall come from the issuance of tax-exempt debt which is not expected to exceed $5,000,000 aggregate principal amount. It is currently the intention of the County to principally secure such tax-exempt debt by revenues derived from operation of the airports. The expenditures to be reimbursed shall be consistent with the County's budgetary and financial policy as being the type of expenditures which shall be paid on a long-term basis. SECTION 2. The County shall comply with all applicable law in regard to the public availability of records of official acts (i.e., adoption of this resolution) by public entities such as the County including making this resolution available to public inspection. SECTION 3. It is the intent of this resolution to meet the requirements of Treasury Regulations Section 1.150-2 and to be a declaration of official intent under such Section. SECTION 4. This resolution shall take effect immediately. ADOPTED this __ day of February, 2015, ATTEST: Clerk of the Circuit Court and ex officio Clerk of the Board of County Commissioners OKALOOSA COUNTY, FLORIDA Chairman, Board of County Commissioners