Okaloosa County BOCC — October 2, 2012 — reading text

agree that Micro-surfacing is more appropriate. It should be noted that the material overruns may cause the District 3 resurfacing to be over budget for the FY'12 roadways by a relatively small amount (+/-$1,000 pending final audit and invoicing from APS). District 1 - Finch and John Nix Roads will change from Micro-surfacing to Chip Seals Packet Pg. 96  7.9 District 2 - No change District 3 - No change District 4 - No change District 5 - Nassau Dr - will change from Double Chip Seal to Micro-surfacing (to be done later this year when the vendor mobilizes for the FY '13 road lists) OPTIONS: Approve/Disapprove RECOMMENDATIONS: Staff recommends moving forward with recommended changes to the roads treatment list. RECOMMENDED BY: APPROVED BY: James D. Curry, County Administrator Packet Pg. 97  8.1.1 BOARD OF COUNTY COMMISSIONERS AGENDA REQUEST DATE: November 6, 2012 TO: Honorable Chairman and Members of the Board SUBJECT: Law Enforcement Trust Fund Disbursement The Sheriff's Office submitted a request for LETF Disbursement in the following areas: 1.Crime Prevention: Crime Prevention Promotion Display, USO Golf For Heroes $500; Crime Prevention Presentation, Students with a Purpose $300 2. Donations: Crime Prevention Partnership, NAACP 2012 Freedom Fund $500 Total Disbursement Requested: $1,300 Packet Pg. 98 Packet Pg. 99 8.1.1.a Attachment: LETF Support Documents.pdf (1130 : Law Enforcement Trust Fund Disbursement)  8.1.1.a Packet Pg. 100 Attachment: LETF Support Documents.pdf (1130 : Law Enforcement Trust Fund Disbursement)  8.1.1.a Packet Pg. 101 Attachment: LETF Support Documents.pdf (1130 : Law Enforcement Trust Fund Disbursement)  8.1.1.a Packet Pg. 102 Attachment: LETF Support Documents.pdf (1130 : Law Enforcement Trust Fund Disbursement)  8.1.1.a Packet Pg. 103 Attachment: LETF Support Documents.pdf (1130 : Law Enforcement Trust Fund Disbursement)  8.1.1.a Packet Pg. 104 Attachment: LETF Support Documents.pdf (1130 : Law Enforcement Trust Fund Disbursement)  8.1.1.a Packet Pg. 105 Attachment: LETF Support Documents.pdf (1130 : Law Enforcement Trust Fund Disbursement)  8.1.1.a Packet Pg. 106 Attachment: LETF Support Documents.pdf (1130 : Law Enforcement Trust Fund Disbursement)  8.1.1.a Packet Pg. 107 Attachment: LETF Support Documents.pdf (1130 : Law Enforcement Trust Fund Disbursement)  8.1.1.a Packet Pg. 108 Attachment: LETF Support Documents.pdf (1130 : Law Enforcement Trust Fund Disbursement)  8.1.1.a Packet Pg. 109 Attachment: LETF Support Documents.pdf (1130 : Law Enforcement Trust Fund Disbursement)  8.2.1 BOARD OF COUNTY COMMISSIONERS AGENDA REQUEST DATE: November 6, 2012 TO: Honorable Chairman and Members of the Board FROM: Greg Donovan SUBJECT: Approval of Resolution to Refinance Capital Projects Loan DEPARTMENT: Airport BCC DISTRICT: All STATEMENT OF ISSUE: The BCC is requested to approve a resolution authorizing the refinancing of an existing $2 million loan. BACKGROUND: The Airport currently has a $2 million loan from the Florida Local Government Finance Commission for the purpose of financing various capital projects at County airports. There is an unspent balance of $875,742.51 from the previous loan which will be rolled into the new loan. Use of these funds will provide necessary matches to FAA and FDOT grants for new capital projects listed in Exhibit B. The refinancing is being done at this time because the loan principal is due in December 2012 and finance conditions are extremely favorable. The Airport intends to replace the loan with fixed rate bonds within the next year with BCC concurrence in conjunction with a potential refunding of its Series 2003 Bonds. Attached to the proposed BCC Resolution is a copy of the loan agreement which is for information only and should not be signed. The Loan Agreement will be executed at the same time as the closing documents a week or so before closing. OPTIONS: Approve, Reject or Table RECOMMENDATIONS: Approve and sign the Resolution and authorize the signature of the Loan Agreement when required for the closing. RECOMMENDED BY: Packet Pg. 110  8.2.1 APPROVED BY: James D. Curry, County Administrator Packet Pg. 111  8.2.1.a Attachment: Okaloosa Loan Agreement (Airport Revenues) (1111 : Approval of Resolution to Refinance Capital Projects Loan) LOAN AGREEMENT (AIRPORT REVENUES) AMONG FLORIDA LOCAL GOVERNMENT FINANCE COMMISSION AND OKALOOSA COUNTY, FLORIDA AND JPMORGAN CHASE BANK, N.A. Dated as of December 4, 2012 FLORIDA LOCAL GOVERNMENT FINANCE COMMISSION POOLED COMMERCIAL PAPER LOAN PROGRAM Packet Pg. 112  8.2.1.a TABLE OF CONTENTS Page Attachment: Okaloosa Loan Agreement (Airport Revenues) (1111 : Approval of Resolution to Refinance Capital Projects Loan) ARTICLE I DEFINITIONS SECTION 1.01. DEFINITIONS ...................................................................................... 6 ARTICLE II REPRESENTATIONS AND WARRANTIES OF PUBLIC AGENCY SECTION 2.01. REPRESENTATIONS AND WARRANTIES .................................. 17 ARTICLE III LOAN TERM AND THE LOANS SECTION 3.01. COMMENCEMENT OF LOAN TERM ............................................ 20 SECTION 3.02. TERMINATION OF LOAN TERM .................................................. 20 SECTION 3.03. THE LOANS. ..................................................................................... 20 SECTION 3.04. NOTICE OF DRAW........................................................................... 21 ARTICLE IV LOAN TERM AND LOAN CLOSING REQUIREMENTS SECTION 4.01. COMMENCEMENT DATE SUBMISSIONS ................................... 23 SECTION 4.02. CONDITIONS PRECEDENT TO LOANS AND DRAWS .............. 23 SECTION 4.03. LOAN SUBMISSIONS ...................................................................... 24 SECTION 4.04. DRAW SUBMISSIONS ..................................................................... 24 ARTICLE V LOAN REPAYMENTS SECTION 5.01. PAYMENT OF LOAN REPAYMENTS ........................................... 26 SECTION 5.02. CALCULATION OF LOAN RATE .................................................. 28 SECTION 5.03. LOAN REPAYMENTS ...................................................................... 29 SECTION 5.04. MAXIMUM LEGAL INTEREST RATE. ......................................... 30 SECTION 5.05. COSTS OF ISSUANCE ..................................................................... 30 SECTION 5.06. MANDATORY PREPAYMENT ....................................................... 31 SECTION 5.07. OBLIGATIONS UNCONDITIONAL ............................................... 31 SECTION 5.08. COORDINATION WITH AIRPORT INDENTURE ........................ 31 ARTICLE VI SECURITY FOR LOANS AND PUBLIC AGENCY COVENANTS SECTION 6.01. STATUS OF LOAN OBLIGATIONS ............................................... 33 i Packet Pg. 113  8.2.1.a SECTION 6.02. SECURITY FOR LOAN REPAYMENTS ........................................ 33 SECTION 6.03. PLEDGED REVENUES .................................................................... 33 Attachment: Okaloosa Loan Agreement (Airport Revenues) (1111 : Approval of Resolution to Refinance Capital Projects Loan) SECTION 6.04. COVENANT TO BUDGET AND APPROPRIATE ......................... 34 SECTION 6.05. PAYMENT COVENANT .................................................................. 35 SECTION 6.06. ADDITIONAL COVENANTS .......................................................... 36 ARTICLE VII ASSIGNMENT AND PAYMENT BY THIRD PARTIES SECTION 7.01. ASSIGNMENT BY COMMISSION .................................................. 41 SECTION 7.02. ASSIGNMENT BY PUBLIC AGENCY ........................................... 41 ARTICLE VIII EVENTS OF DEFAULT AND REMEDIES SECTION 8.01. EVENTS OF DEFAULT DEFINED. ................................................. 42 SECTION 8.02.