SUBJECT:
Title
Request Approval to Adopt a Resolution Relating to the Issuance of a Florida Special Obligation Revenue Note
Body
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INITIATOR: |
DEPARTMENT: |
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Matthew G. Minter, County Attorney |
Legal |
DESCRIPTION/BACKGROUND:
Attached is a resolution which was received from Nabors, Giblin & Nickerson, P.A., bond counsel for Marion County. The resolution relates to the issuance of a Florida Special Obligation Revenue Note by the County of a Note not to exceed $1,298,274.00, Series 2021, in order to finance the cost of the acquisition of a public safety vehicle. Pursuant to a Development Agreement with Golden Ocala, Golden Ocala previously “front-ended” a payment to County of $1,298,274.00 to enable County to purchase a fire ladder truck of sufficient size to serve the hotels at the project. The County has purchased the new truck, which will be available for other County emergency needs as well. This resolution provides for the County’s repayment of this amount to Golden Ocala.
BUDGET/IMPACT:
None
RECOMMENDED ACTION:
Recommended action
Motion to adopt the attached Resolution and authorize the Chairman and Clerk to execute same.
end