Broward County Commission Regular Meeting
Director's Name: Leonard Vialpando
Department: Resilient Environment Division: Housing Finance Division
Information
Requested Action
title
MOTION TO ADOPT Resolution, the title of which is as follows:
A Resolution of the Board of County Commissioners of Broward County, Florida, authorizing the issuance by the Housing Finance Authority of Broward County, Florida (the "HFA") in the aggregate amount not to exceed $19,000,000 of its Multifamily Housing Revenue Bonds, Series 2023 (The Palms of Deerfield Townhomes) (the "Senior Bonds") and its subordinate Multifamily Housing Revenue Note, Series 2023 (The Palms of Deerfield Townhomes) (the "Subordinate Note" and, together with the Senior Bonds, the "Bonds") for the purpose of financing the acquisition, rehabilitation, and equipping of The Palms of Deerfield Townhomes located in Broward County, Florida (the "Project"); establishing parameters for the award of the sale thereof and establishing criteria for determining the terms thereof, including interest rates, interest payment dates, maturity schedule, and other terms of such Bonds; approving the forms of and authorizing the execution and delivery of the following documents in connection with (i) the Senior Bonds: (a) a Trust Indenture by and between the HFA and The Bank of New York Mellon Trust Company, N.A., as Trustee (the "Trustee"); (b) a Loan Agreement by and between the HFA and The Palms of Deerfield Townhomes, LLC (the "Borrower"); (c) a Land Use Restriction Agreement by and among the HFA, the Trustee, and the Borrower (the "Land Use Restriction Agreement"); (d) a Bond Purchase Agreement by and among the HFA, the Borrower, and Raymond James & Associates, Inc. ("Raymond James") and RBC Capital Markets, LLC ("RBC"), as Bond Purchaser (collectively, the "Purchaser"); (e) a Trustee Fee Agreement by and between the HFA and the Trustee (the "Trustee Fee Agreement"); and (f) a Collateral Funds Agreement...
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