Broward County Commission Regular Meeting
Director's Name: Stephen Farmer (Acting Director)
Department: Finance and Administrative Services Division: Administration
Information
Requested Action
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MOTION TO ADOPT Resolution, the title of which is as follows:
A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF BROWARD COUNTY, FLORIDA APPROVING THE ISSUANCE BY THE MIAMI-DADE COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY OF ITS REVENUE BONDS (CARE RESOURCE HEALTH FACILITIES PROJECT) IN AN AGGREGATE PRINCIPAL AMOUNT NOT EXCEEDING $26,000,000, IN ONE OR MORE TAX-EXEMPT AND/OR TAXABLE SERIES, IN ORDER TO PROVIDE FUNDS TO MAKE ONE OR MORE LOANS TO CARE RESOURCE COMMUNITY HEALTH CENTERS, INC. TO (I) FINANCE AND REFINANCE (INCLUDING THROUGH REIMBURSEMENT) THE COSTS OF ALL OR A PORTION OF CERTAIN HEALTH CARE FACILITIES LOCATED WITHIN BROWARD COUNTY, FLORIDA, (II) FUND A DEBT SERVICE RESERVE, IF NECESSARY, (III) FUND CAPITALIZED INTEREST, AND (IV) PAY CERTAIN BOND ISSUANCE COSTS; APPROVING AN INTERLOCAL AGREEMENT BETWEEN THE MIAMI-DADE AUTHORITY AND BROWARD COUNTY AND AUTHORIZING THE EXECUTION AND DELIVERY OF SUCH AGREEMENT; PROVIDING OTHER DETAILS AND 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.
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Previous Action Taken
None.
Summary Explanation/Background
THE FINANCE AND ADMINISTRATIVE SERVICES DEPARTMENT RECOMMENDS APPROVAL OF THE ABOVE MOTION.
This item seeks approval of the proposed Resolution (Exhibit 1) authorizing the Miami-Dade County Industrial Development Authority ("IDA") to issue, in one or more series, up to $26 million in tax-exempt industrial development revenue bonds on behalf of Care Resource Community Health Centers, Inc. The bond proceeds will be used to finance and/or refinance ...
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