Broward County Commission Regular Meeting
Director's Name: Stephen Farmer (Acting Director)
Department: Finance and Administrative Services Division: Choose a 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, APPROVING, SOLELY FOR THE LIMITED PURPOSES OF SECTION 147(F) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED, THE ISSUANCE BY THE CAPITAL TRUST AUTHORITY OF ITS REVENUE BONDS, IN ONE OR MORE SERIES OF TAX-EXEMPT QUALIFIED 501(C)(3) BONDS OR TAXABLE BONDS, SENIOR AND SUBORDINATE, PURSUANT TO A PLAN OF FINANCE, AS SET FORTH HEREIN, FOR THE PURPOSE OF FINANCING OR REFINANCING THE FACILITIES HEREIN DESCRIBED; AND PROVIDING AN EFFECTIVE DATE.
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Why Action is Necessary
Formal approval by the Broward County Board of County Commissioners ("Commission") is necessary for the adoption of a Resolution.
What Action Accomplishes
Enables the adoption of the Resolution.
Goal Related Icon(s)
N/A County Commission
N/A Go Green
N/A MAP Broward
Previous Action Taken
None.
Summary Explanation/Background
THE FINANCE AND ADMINISTRATIVE SERVICES DEPARTMENT RECOMMENDS APPROVAL OF THE ABOVE MOTION.
By letter dated July 30, 2026, attached as Exhibit 1, the Capital Trust Authority ("CTA") requested that the Board adopt a resolution approving, solely for purposes of Section 147(f) of the Internal Revenue Code of 1986, as amended (the "Code"), CTA's proposed issuance of revenue bonds in an aggregate principal amount not to exceed $210,000,000. CTA proposes to issue the bonds to loan the proceeds to MUNIficent USR, LLC, and certain related entities whose sole direct or indirect member is MUNIficent Foundation, a nonprofit organization described in Section 501(c)(3) of the Code.
The bond proceeds would be used to finance or refinance, including through reimbursement, the acquisition, construction, expansion, rehabilitation...
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