HomeMy WebLinkAboutCity of Tamarac Resolution R-2014-082Temp Reso. No. 12521
August 12, 2014
Page 1
CITY OF TAMARAC, FLORIDA
RESOLUTION NO. R-2014 - 0
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF
TAMARAC, FLORIDA, TO PROVIDE A MECHANISM FOR THE
FINANCING OF ENERGY CONSERVATION AND EFFICIENCY
IMPROVEMENTS, RENEWABLE ENERGY IMPROVEMENTS, AND
WIND RESISTANCE IMPROVEMENTS; AUTHORIZING THE
EXECUTION OF A NON-EXCLUSIVE INTERLOCAL SUBSCRIPTION
AGREEMENT WITH THE FLORIDA PACE FUNDING AGENCY FOR AN
INITIAL TERM OF THREE YEARS ENDING SEPTEMBER 30, 2017;
PURSUANT TO WHICH THE FLORIDA PACE FUNDING AGENCY WILL
ADMINISTER A FINANCING PROGRAM FOR SUCH IMPROVEMENTS
WITHIN THE MUNICIPAL BOUNDARIES OF THE CITY; AUTHORIZING
AND DIRECTING CITY OFFICIALS, OFFICERS, EMPLOYEES AND
AGENTS TO TAKE SUCH ACTIONS AS MAY BE NECESSARY OR
DESIRABLE IN FURTHERANCE OF THE PURPOSES OF THIS
RESOLUTION; PROVIDING FOR CONFLICTS; PROVIDING FOR
SEVERABILITY; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, Section 163.08, Florida Statutes (the "Supplemental Act"), authorizes
counties, municipalities and certain separate Local Government entities to establish and
administer financing programs pursuant to which owners of real property may obtain
funding for energy conservation and efficiency, renewable energy and wind resistance
improvements (as referred to therein, the "Qualifying Improvements"), and repay such
funding
through voluntary special assessments,
sometimes
referred to as
non -ad
valorem
assessments ("Special Assessments"),
levied upon
the improved
property
pursuant to financing agreements between the owner thereof and the local government
(the "Financing Agreements"); and
WHEREAS, pursuant to the Supplemental Act or as otherwise provided by law,
local governments may enter into a partnership with other local governments for the
purpose of providing and financing Qualifying Improvements, and a Qualifying
Temp Reso. No. 12521
August 12, 2014
Page 2
Improvement program may be administered by a third party at the discretion of the local
government; and
WHEREAS, installing Qualifying Improvements on existing structures can reduce
the burdens resulting from fossil fuel energy production, including greenhouse gas
reductions; and
WHEREAS, increased energy conservation, and installing wind resistance
improvements on existing structures can reduce repair and insurance costs, and the
burdens placed on
hurricanes; and
surrounding properties resulting from high wind storms and
WHEREAS, the Florida PACE Funding Agency (the "Agency"), is a separate legal
entity and
unit of
local government,
and was
established
by
separate interlocal
agreement
for the
express purpose of
providing
a scalable
and
uniform platform to
facilitate the financing of Qualifying Improvements to local governments throughout
Florida; and
WHEREAS, the mission of the Agency is to aspire to and undertake, cause and/or
perform all such acts as are necessary to provide a uniform, efficient, and scalable
statewide platform in Florida, so that, when and if embraced by individual local
governments and interested property owners, the Agency can facilitate the provision,
funding and financing of energy conservation, renewable energy, and wind -resistance
improvements to Florida properties; and
WHEREAS, the Agency has provided evidence to the City of Tamarac (the "City"
or "Tamarac") that: (1) the Agency's Program has assembled, at the Agency's sole cost
and expense, and not that of the taxpayers of Tamarac, open public governance and
Temp Reso. No. 12521
August 12, 2014
Page 3
oversight, staffing in the form of qualified third -party administration, active funding
provider servicing oversight, dedicated Program counsel, and an independent
institutional trustee, (2) the Agency is immediately ready to commence origination of
Special Assessments for Qualifying Improvements in the City of Tamarac, and (3) the
Agency presently has large scale funding in place and available under an executed bond
purchase agreement and trust indenture; and
WHEREAS, the availability of the non-exclusive Program offered by the Agency
(without cost to, assumption of liability by or demand upon the credit of the City of
Tamarac) and the voluntary participation in the Program by property owners will provide
a heretofore unavailable and alternative financing option to finance and repay the costs
to provide and install Qualifying Improvements to property owners desiring them in
Tamarac; and.
WHEREAS, the Agency now, by an through its funding provider, employs a
second and redundant Qualifying Improvement review process to avoid fraud, Program
misuse, or improvident funding - this additional review process is required and not only
serves the risk concerns of the funding provider, but serves to accomplish more careful,
sober and proper use of this financing alternative in achieving the purposes of the
Property Owner, the Agency, the City and the compelling State interests involved, while
at the same time better protecting the interests of mortgage or other lien holders not on
parity with taxes and assessments.
WHEREAS, the statewide platform offered by the Agency does not require
exclusivity, has in fact attracted immediately available capital that does not require any
City financial back-up, is fundamentally designed to be the most market competitive
Temp Reso. No. 12521
August 12, 2014
Page 4
program available in terms and rates, offers significant advantages over any other
imitator program or individualized local approaches including, but not limited to, limited
liability for local government subscribers to a platform uniform throughout Florida, can
presently demonstrate the successful attraction of financial resources to begin funding
immediately and to also fund growing demand, cost savings resulting from efficiencies of
scale and reduced startup and implementation expenditures, presents a higher quality
and more competitive set of program attributes and review processes, and a greater
ability to foster locally advantageous statewide partnerships with commercial and -
industrial groups, educators, energy auditors, contractors, suppliers and installers; and
WHEREAS, the City is presently without adequate, currently available and
recurring funds to establish a program similar to the Agency's Program; and recognizes
that if it does initiate its own program it may be necessary that it commit significant time,
staffing and monetary resources derived from all taxpayers, and that if it borrows the
moneys necessary for such purpose and secures repayment thereof by the proceeds
derived from non -ad valorem assessments it imposes, it will likely face a demand from
credit markets for an additional pledge of other City revenues; however, as an alternative
or supplement to any other program or approach chosen by the City, the City can
concurrently and presently authorize and approve the Agency to separately make the
Agency's non-exclusive Program and funding for Qualified Improvements immediately
available to Property Owners and the local economy in the City of Tamarac; and
WHEREAS, the City finds that local needs and conditions reasonably warrant the
establishment of the Agency's non-exclusive Program within the jurisdiction of the City
as a direct and immediate means to non -exclusively implement and advance positive
Temp Reso. No. 12521
August 12, 2014
Page 5
local economic activity, job creation, energy efficiency, renewable energy and wind
resistant activities; and
WHEREAS, it is reasonable and in the interest of the health, safety, and welfare
of the City and its inhabitants and taxpayers that the City subscribe to and authorize the
availability of the Agency's Program within Tamarac in the manner authorized herein by
law; and
WHEREAS, this Agreement is for a term of three years with renewal options and
provides an alternative, supplemental and non-exclusive means to achieve, inter alia,
immediate and careful local economic development, commerce and job creation, as well
as the compelling State interests and public purposes. described in the Supplemental
Act; and
WHEREAS, the Director of Community Development and the Director of
Financial Services recommends executing an agreement between the Florida PACE
Funding Agency and the City of Tamarac for a term of three years with renewal options,
in an effort to provide an alternative, supplemental, and non-exclusive means to achieve,
inter alia,
immediate and careful local economic
development, commerce and
job
creation,
as well compelling State interests and
public purposes described in
the
Supplemental Act; and
WHEREAS, the City Commission of the City of Tamarac, Florida deems it to be
in the best interest of the citizens and residents of the City of Tamarac to authorize the
appropriate City officials to accept and execute an agreement between the Florida
PACE Funding Agency and the City of Tamarac for a term of three years with renewal
Temp Reso. No. 12521
August 12, 2014
Page 6
options, in an effort to provide an alternative, supplemental, and non-exclusive means to
achieve, inter alia, immediate and careful local economic development, commerce and
job creation, as well compelling State interests and public purposes described in the
Supplemental Act.
NOW THEREFORE BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF TAMARAC, FLORIDA, AS FOLLOWS:
SECTION 1. RECITALS. The foregoing recitals are incorporated in this
Resolution as if fully set forth herein and are approved and adopted.
SECTION 2. NON-EXCLUSIVE
AGREEMENT. The Non -Exclusive Interlocal
INTERLOCAL
SUBSCRIPTION
Subscription Agreement ("Subscription
Agreement"), a copy of which is attached hereto as Exhibit "A," and incorporated herein,
is hereby approved. The City Manager is hereby authorized and directed to execute the
Subscription Agreement on behalf of the City. The City hereby delegates to the City
Manager, or his or her designee, the discretion and authority to allow the Agency to use
and display the City logo for communicative purposes associated with the Program. The
City Manager or the City Manager's designee, City Attorney, City staff, officials and
agents are hereby authorized and directed to take such actions and execute and deliver
such other documents as may be necessary or desirable in furtherance of the purposes
set forth herein and in the Subscription Agreement.
SECTION 3. AUTHORIZATION.
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August 12, 2014
Page 7
Through adoption of this Resolution and
execution of the Subscription Agreement as provided hereunder, the City of Tamarac is
expressly authorizing the Agency to provide its services, as set forth in the Agency's
charter, within the City pursuant to the Subscription Agreement. This Resolution is and
shall be deemed to constitute a resolution of the City authorizing the transfer of the
function or power to provide the Agency's services and conduct its affairs within the City
to the Agency in conformance with Article VIII, Section 4 of the Florida Constitution.
Adoption of this Resolution evidences the express authority and concurrent transfer of all
necessary powers to the Agency, if required, and the covenant to cooperate by the City,
so that the Agency may facilitate, administer, implement and assist in providing
Qualifying Improvements, facilitate Financing
Agreements
and non -ad
valorem
assessments only on properties subjected to
same by the
record owners
thereof,
develop markets, structures and procedures to finance same, and to take any actions
associated therewith or necessarily resulting from the mission of the Agency, as
contemplated by the Supplemental Act as the same may be amended from time to time.
All power and authority available to the Agency under its Charter and general law,
including without limitation, Chapters 163, 189 and 197, Florida Statutes, shall be
deemed to be authorized and may be implemented by the Agency within the boundaries
of the City.
SECTION 4: All resolutions or parts of resolutions on in conflict herewith be,
and the same are hereby repealed to the extent of such conflict.
Temp Reso. No. 12521
August 12, 2014
Page 8
SECTION 5: If any clause, section, other part or application of this Resolution
is held by any court of competent jurisdiction to be unconstitutional or invalid, in part or
application, it shall not affect the validity of the remaining portions or applications of this
Resolution.
SECTION 6:
passage and adoption.
This Resolution shall become effective immediately upon its
PASSED AND ADOPTED BY THE CITY COMMISSION OF THE CITY OF TAMARAC,
FLORIDA THIS DAY OF .fie' , 2014.
-ATTEST:
4
a�-
�-{ PATRIjCt TEUFEL, CMC
w CITY`` CLERK
D i♦
I HEREBY CERTIFY THAT I HAVE
APPROVED THIS RESOLUTION
AS TO FORM:
SAM
CITY
v
EL S. GOREN,
Y ATTORNEY
CITY OF TAMARAC FLORIDA
HARRY DRESSLER, MAYOR
RECORD OF COMMISSION VOTE:
MAYOR
DRESSLER
DIST
1:
COMM.
BUSHNELL
DIST
2:
V/M
GOMEZ
DIST
3:
COMM. GLASSER
DIST
4:
COMM.
PLACKO
Temp Reso. No. 12521
August 12, 2014
Page 9
EXHIBIT "A"
NON-EXCLUSIVE INTERLOCAL SUBSCRIPTION AGREEMENT
NON-EXCLUSIVE INTERLOCAL SUBSCRIPTION AGREEMENT
RELATING TO THE FUNDING AND FINANCING
OF QUALIFYING IMPROVEMENTS BY THE
FLORIDA PACE FUNDING AGENCY
Between
THE CITY OF TAMARAC, FLORIDA,
and
THE FLORIDA PACE FUNDING AGENCY
0 40 s
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SECTION 1.01.
SECTION 1.02.
SECTION 1.03.
SECTION 1.04.
SECTION 2.01.
SECTION 2.02.
SECTION 2.03.
SECTION 2.04.
SECTION 2.05.
SECTION 2.06.
SECTION 2.07.
SECTION 2.08.
SECTION 3.01.
SECTION 3.02.
SECTION 3.03.
SECTION 3.04.
SECTION 3.05.
SECTION 3.06.
SECTION 3.07.
SECTION 3.08.
SECTION 3.09.
SECTION 3.10.
SECTION 3.1.1.
SECTION 3.12.
Non -Exclusive Interlocnl Subscription Agreement
The Cibj of Tamarac
TABLE OF CONTENTS
PAGE
ARTICLE I
DEFINITIONS AND CONSTRUCTION
DEFINITIONS.....................................................................................................1
CONSTRUCTION............................................................./................................. 3
SECTIONHEADINGS.......................................................................................3
FINDINGS.................... ,..................................................... 4
ARTICLE II
SUBSCRIP' ON
AUTHORITY.............. ................................................... a...................... V
CREATION OF STATE, COUNTY
OR MUNICIPAL DEBTS PROHIBITED.......................................................... b
ADOPTION OF RATES, FEES AND CHARGES................................,.........o 7
FINANCING AGREEMENTS...........................................................................7
IMPOSITION OF SPECIAL ASSESSMENTS PURSUANT TO
FINANCING AGREEMENTS.:.................................................o.......................S
COLLECTION OF SPECIAL ASSESSMENTS................................................8
PLEDGE OF PROCEEDS
FROM NON AD VALOREM ASSESSMENTS ............................................... 8
CARBON OR SIMILAR CREDITS...............................................woo* ........,.,...,. 9
ARTICLE III
GENERAL PROVISIONS
INTERLOCAL AGREEMENT PROVISIONS...............................................10
DISCLOSURESURE....................................................................... ............................. 10
TERM OF AGREEMENT,
DURATION OF AGREEMENT; EXCLUSIVITY..........................................10
AMENDMENTS AND WAIVERS..................................................................11
NOTICES............ ..................•//........... .......... •f•/..... ,.•\..... �2
QUALITY CONTROL AND COMMUNICATION.....................................12
IMMUNITY; LIMI'i`ED LIABILITY...........................................0....................13
BINDINGEFFECT............................................................................................13
SEVEIZABILITY.................................................................................................13
EXECUTION IN COUNTERPARTS..............................................................1.4
APPLICABLELAW...............................................................a..0.......................14
ENTIREAGREEMENT....................................................................................14
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NON-EXCLUSIVE INTERLOCAL SUBSCRIPTION AGREEMENT
RELATING TO THE FUNDING AND FINANCING
OF QUALIFYING IMPROVEMENTS BY THE
FLORIDA PACE FUNDING AGENCY
THIS NON --EXCLUSIVE INTERLOC,A►L SUBSCRIPTION AGREEMENT is made and
entered into as of 1, 20 (the "Subscription Agreement"), by and between the City of
Tamarac, Florida (the "Subscriber"), and the Florida PACE Funding Agency, a separate legal
entity and public body and unit of local government, established pursuant to Section
163.01(7)(g), Florida Statutes, (the "Agency"), by and through their respective governing bodies.
The purpose of the Subscription Agreement is to secure, in an efficient and uniform manner, for
the Property owners (as hereinafter defined) within the jurisdiction and boundaries of the
Subscriber the privileges, benefits, powers and terms provided for herein and by law, and
particularly by Section 163.08, Florida Statutes, as amended (the "Supplemental Act"), relating
to the voluntary determination by affected property owners to obtain and finance certain
improvements to property for energy efficiency, renewable energy or wind resistance.
WITNESSETH:
NOW, THEREFORE, in consideration of the mutual covenants herein contained and for
other good and valuable consideration each to the other, receipt of which is hereby
acknowledged by each party, the Subscriber and the Agency hereby agree, stipulate and
covenant as follows:
ARTICLE I
DEFINITIONS AND CONSTRUCTION
SECTION 1,01, DEFINITIONS. As used in this Agreement, the following terms
shall have the meanings as defined unless the context requires otherwise:
"Board of Directors" means the governing body of the Agency.
"Agency" means the Florida PACE Funding Agency, a separate legal entity and public
body and unit of local government. The name or acronym PACE is derived from the concept
commonly referred to as 'property assessed clean energy' and relates hereto to the provisions of
general law related to energy efficiency, renewable energy and wind resistance improvements
encouraged by Section 163.08, Florida Statutes.
"Agency Charter Agreement" or "Charter" means, unless the context otherwise
requires, the separate interlocal agreement which created and established the Agency, including
any amendments and supplements hereto executed and delivered in accordance with the terms
thereof.
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Non -Exclusive Interlocal Subscription Agreement
The Cihj of Tamarac
"Financing Agreement" means the agreement authorized hereunder and by the Act
(specifically including section 163.08(4) thereof) between the Agency and a Property Owner
providing for the funding to finance Qualifying Improvements and the imposition of a non --ad
valorem Special Assessment against the Property Owner's assessed property.
"Financing Documents" shall mean the resolution or resolutions duly adopted by the
Agency, as well as any indenture of trust, trust agreement, interlocal agreement or other
instrument relating to the issuance or security of any bond or Obligations of the Agency and
any agreement between the Agency and the Subscriber, pursuant to which the Subscriber and
Property Owners obtain access to funds provided by the Agency.
"Obligations" shall mean a series of bonds, obligations or other evidence of
indebtedness, including, but not limited to, notes, commercial paper, certificates or any other
obligations of the Agency issued hereunder or pursuant hereto, or under any general law
provisions, and pursuant to the Financing Documents. The term shall also include any lawful
obligation committed to by the Agency or pursuant to an interlocal agreement with another
governmental body or agency and/or warrants issued for services rendered or administrative
expenses.
"Pledged Francis" shall mean (A) the revenues derived from Special Assessments and
other Y moneys received b the Agency or its designee relating to some portion thereof, (B) until
applied in accordance with the terms of the Financing Documents, all moneys in the funds,
accounts and sub -accounts established thereby, including investments therein, and (C) such
other property, assets and moneys of the Agency as shall be pledged pursuant to the Financing
Documents; in each case to the extent provided by the Board of Directors pursuant to the
Financing Documents. The Pledged Funds pledged to one series of Obligations may be different
than the Pledged Funds pledged to other series of Obligations. Pledged Funds shall not include
any general or performance assurance fund or account of the Agency.
,Program" means the program operated by the Agency to provide financing for
Qualifying hmprovements undertaken within the jurisdiction of the Subscriber. [finless
determined otherwise by. the Subscriber, the Agency's Program will be non-exclusive; and, the
Subscriber may embrace or authorize any similar program under the Act as the Subscriber sees
fit and in the interest of the public.
"Property owner" means, collectively, all of the record owners of real property subject to a
Financing Agreement.
-"Qualifying Improvements" means those improvements for energy efficiency,
renewable energy, or wind resistance described in the Supplemental Act authorized to be
affixed and/or installed by the record owner of an affected property. The term does not include
similar improvements underwritten or financed by local, state or federal programs including,
but not limited to State Housing initiatives Partnership or SFIIP Program, which are not secured
by a special or non -ad valorem assessment.
"Special Assessments" means the non -ad valorem assessments authorized by the
Supplemental Act and levied by the Agency on property owned by participating property
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Non -Exclusive InterIocat Subscription Agreement
The City o, f Tamarac
owner who has entered into a Financing Agreement with the Agency to fund the costs of
Qualifying Improvements.
"Subscriber" means the City of Tamarac, Florida, a municipal corporation and
general purpose local government duly organized and existing under and by virtue of
the laws of the State of Florida.
"Subscription Agreement" means this interlocal agreement, or if the context requires a
similar interlocal agreement between the Agency and any municipality, county or other
government or separate legal entity permitted by the Supplemental Act to enter into Financing
Agreements as provided for therein. At a minimum, each such Subscription Agreement shall
provide for (I) the authority of the Agency to act, provide its services, and conduct its affairs
within the subscribing government's jurisdiction; (2) the Agency to facilitate the voluntary
acquisition, delivery, installation or any other manner of provision of Qualifying Improvements
to record owners desiring such improvements who are willing to enter into Financing
Agreements as provided for in the Supplemental Act and agree to the imposition of non -ad
valorem assessments which shall run with the land on their respective properties; (3) the
Agency to levy, impose and collect nomad valorem assessments pursuant to such Financing
,Agreements; (4) the issuance of Obligations of the Agency to fund and finance the Qualifying
Improvements; (5) for the proceeds of such non -ad valorem assessments to be timely and
faithfully paid to the Agency; (6) the withdrawal from, discontinuance of or termination of the
Subscription Agreement by either party upon reasonable notice in a manner not detrimental to
the holders of any Obligations of the Agency or inconsistent with any Financing Documents; (7)
and such other covenants or provisions deemed necessary and mutually agreed to by the
parties to carry out the purpose and mission of the Agency.
"Supplemental Act' means the provisions of, and additional and supplemental
authority described in, Section 168.08, Florida Statutes, as amended.
SECTION 1.02 CONSTRUCTION.
(A) Words importing the singular number shall include the plural in each case and
vice versa, and words importing persons shall include firms and corporations. The terms
"herein.." „hereunder," "hereby," "hereto," "hereof,"" and any similar terms, shall refer to this
Subscription Agreement; the term "heretofore" shall mean before the date this Subscription
Agreement is executed; and the term "hereafter" shall mean after the date this Subscription
Agreement is executed.
(B) Each recital, covenant, agreement, representation and warranty made by a party
herein shall be deemed to have been material and to have been relied on by the other party to
this Subscription Agreement. Both parties have independently reviewed this Subscription
Agreement with their own counsel and covenant that the provisions hereof shall not be
construed for or against either the Subscriber or the Agency by reason of authorship.
SECTION 1.03. SECTION HEADINGS. Any headings preceding the texts of
the several Articles and Sections of this Interlocal Agreement and any table of contents or
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Page 3 of 17
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Non -Exclusive hn%rlocal Subscription Agreement
The Ci%j of Tamarac
marginal notes appended to copies hereof shall be solely for convenience of reference and shall
neither constitute a part of this Subscription Agreement nor affect its meaning, construction or
effect.
SECTION 1.04. FINDINGS. It is hereby ascertained, determined and declared
that:
(A) The State has declared it the public policy of the State to develop energy
management programs aimed at promoting energy conservation and wind resistance or
`hardening' programs achieving hurricane and wind damage mitigation.
(B) Home and business energy consumption accounts for approximately 70% of the
overall usage of electric energy. The State of Florida has adopted a schedule for increasing the
energy performance of buildings subject to the Florida Energy Efficiency Code for Building
Construction Chapter 553, Florida Statutes.
(C) A significant contributor to statewide and local greenhouse gas emissions is the
inefficient use of energy by existing building stock. Installing energy efficiency and renewable
energy improvements on existing structures can reduce the burdens resulting from fossil fuel
energy production, including greenhouse gas reductions and increased energy conservation.
(D) Reductions in greenhouse gas emissions will in all reasonable likelihood
contribute to improved air quality, lower fossil fuels use, energy independence and security,
promote the creation of jobs and economic development by stimulating "green industries" and
save consumers money by reducing energy consumption.
(E) Hardening improvements on properties by advancing resistance to wind damage
is smart and proactive hurricane mitigation and attracts sustainable long term employment and
uniquely local commerce. Such actions serve to avoid huge unbudgeted expenditures in
reacting to climatic disasters such as hurricanes and storms, reduce insurance claims, reduce
insurance rates, reduce risk and liability, and protect persons, and property, and improvements
to real property.
(F) There exists a vast quantity of existing structures with many years of remaining
life before replacement, and these structures are not nearly as energy efficient as typical newly
constructed buildings, nor do many existing buildings have renewable energy systems installed
to provide some or all of their electric energy needs, nor are these structures as well protected
from wind and storm damage as they could be.
(G) The State Legislature has determined there is a compelling state interest in
enabling property owners to voluntarily finance Qualifying Improvements with local
government assistance. The actions authorized by the Supplemental Act, including the
financing of Qualifying Improvements through the execution of Financing Agreements and the
related imposition of a Special Assessment, are reasonable and are necessary for the prosperity
and welfare of the State, the Subscriber and its property owners and inhabitants.
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Non-Exchisive Interlocal Subscription Agreement
The Cifhj of Tamarac
(Id) The expected life of energy efficiency, renewable energy, and wind resistance
Qualifying Improvements may require a longer -term cost recovery period than offered by
traditional equity financing may afford, necessitating an alternative financing option to pay the
costs to install the Qualifying Improvements while sharing the costs of the Qualifying
Improvements over "the useful life of the Qualifying Improvements.
(I) Existing homeowners and business property owners may find it not cost
effective to refinance their properties to install Qualifying Improvements and/or the lending
markets may effectively discourage property owners from financing Qualifying Improvements
with traditional equity financing options.
()) Facilitating the provision of Qualifying Improvements, the funding, and the
repayment by participating property owners through the use of Special Assessments not only
will relieve burdens emanating from and provide benefits to assessed property in terms of
increased value, use and enjoyment, but will serve the public interest by preserving and
protecting the environment, implementing hurricane mitigation, and promoting reasonable,
smart and local economic activity.
(K) The Agency has secured a binding final judgment, binding and only advantageous
to the Agency, which has statewide effect. Such judgment carefully relieves the Subscriber from
cost and liability associated with implementation of the Agency's Program.
(L) The Agency has provided evidence to the Subscriber that: (1) the Agency's ,
Program has assembled, at the Agency's sole cost and expense, open public governance and
oversight, staffing in the form of qualified -third-party administration, active funding provider
servicing oversight, dedicated Program counsel, and an independent institutional trustee, (2)
that the Agency is immediately ready to commence origination of Special Assessments for
Qualifying Improvements, and (3) that the Agency presently has large scale funding in place
and available under an executed bond purchase agreement and trust indenture.
(NI) The availability of the non-exclusive Program offered by the Agency (without
cost to, assumption of liability by or demand upon the credit of the City of Tamarac) and the
voluntary participation in the Program by Property Owners will provide a heretofore
unavailable or alternative financing option to finance and repay the costs to provide and install
Qualifying Improvements in Tamarac.
. (N) The provision of financing to a Property Owner who decides to participate in the
Program requires by law using non -ad valorem assessments levied by the Agency on the
property pursuant to the Supplemental Act which must be collected pursuant to Chapter 197,
Florida Statutes. Such collection method minimizes risk of failure for non-payment and
provides a more efficient, fair and cost effective means of enforcement of any Special
Assessment to both the Property Owner and the Agency's funding providers. In addition, the
Agency now, by an through its funding provider, employs a second and redundant Qualifying
Improvement review process to avoid fraud, Program misuse, or improvident funding. This
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Non -Exclusive InterlocaI Subscription Agreement
The Cihj of Tamarac
additional review process is required by and not only serves the risk concerns of the funding
provider, but serves to accomplish more careful, sober and proper use of this financing
alternative in achieving the purposes of the Property {owner, the Agency, the Subscriber and the
compelling State interests involved.
(0) The Subscriber is presently without adequate, currently available and recurring
funds to establish a program similar to the Agency's Program; and recognizes that if it does initiate
its own program it may be necessary that it commit time, staffing and monetary resources and that
it borrow the moneys necessary for such purpose and secures repayment thereof by the proceeds
derived from non -ad valorem assessments it imposes. However, alternatively and supplementally
to any other program or approach chosen by the Subscriber, the Subscriber can concurrently and
presently authorize and approve the Agency to separately make the Agency's non-exclusive
Program and funding for Qualified Improvements immediately available to Property Owners and
local economy in Tamarac.
(P) The Subscriber finds that local needs and conditions warrant the establishment of
the Agency's non-exclusive Program within the jurisdiction of the Subscriber as a direct and
immediate means to non -exclusively implement and advance positive local economic activity,
job creation, energy efficiency, renewable energy and wind resistant activities.
(Q) It is reasonable and in the interest of the health, safety, and welfare of the Subscriber
and its inhabitants that the Subscriber subscribe to the availability of the Program within the
Subscriber's jurisdiction. The Agency is authorized hereby, by law and pursuant to the provisions
of the Supplemental Act to undertake the Program.
(R) This Agreement provides an alternative, supplemental and non-exclusive means to
achieve, inter alia, immediate and careful local economic development, commerce and job creation,,
as well as the compelling State interests and public purposes described in the Supplemental Act.
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Ilion -Exclusive Intertocal Subscription Agreement
The Ciihj of Tamarac
ARTICLE II
SUBSCRIPTION
SECTION 2.01. AUTHORITY,
(A) The execution hereof has been duly authorized by the resolution of the
governing bodies of each party hereto.
(B) The Agency by this Subscription Agreement is hereby authorized to act to
provide its services, and conduct its affairs, within the boundaries of the Subscriber's
jurisdiction.
(C) The execution of this Subscription Agreement evidences the express authority
and concurrent transfer of all necessary powers to the Agency, and the covenant to reasonably
cooperate by the Subscriber, so that the Agency may facilitate, administer, implement and
provide Qualifying Improvements, facilitate Financing Agreements and non -ad valorem
assessments only on properties subjected to same by the record owners thereof, develop
markets, structures and procedures to finance same, and to take any actions associated
therewith or necessarily resulting there from as contemplated by the Supplemental Act as the
same may be amended from time to time.
(D) By resolution of the governing bodies of each of the parties and as implemented
pursuant by this Subscription .Agreement, all power and authority available to the Agency
under its Charter and general law, including without limitation, Chapters 163, 189 and 197,
Florida Statutes, shall be deemed to be authorized and may be implemented by the Agency
within the boundaries of the Subscriber.
(E) This Subscription Agreement may be amended only by written amendment
hereto.
SECTION 2.02. CREATION OF STATE„ COUNTY OR MUNICIPAL DEBTS
PROHIBITED. The Agency shall not be empowered or authorized in any manner to
create a debt as against the State, county, or any municipality, and may not pledge the full faith
and credit of the State, any county, or any municipality. All revenue bonds or debt obligations
of the Agency shall contain on the face thereof a statement to the effect that the State, county or
any municipality shall not be obligated to pay the same or the interest and that they are only
payable from Agency revenues or the portion thereof for which they are issued and- that neither
the full faith and credit nor the faxing power of the State or of any political subdivision thereof
is pledged to the payment of the principal of or the interest on such bonds. The issuance of
revenue or refunding bonds under the provisions of law, the Charter Agreement, or this
Subscription Agreement shall not directly or indirectly or contingently obligate the State, or any
county or municipality to levy or to pledge any form of ad valorem taxation whatever therefore
or to make any appropriation for their payment.
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Non -Exclusive InterIocal Subscription Agreement
The Cihj of Tamarac
SECTION 2.03. ADOPTION of RATES, FEES AND CHARGES.
(A) The Board of Directors may adopt from time to time by resolution such rates,
fees or other charges for the provision of the services of the Agency to be paid by the record
owner of any property, pursuant to a Financing Agreement described in the Supplemental Act.
(B) Such rates, fees and charges shall be adopted and revised so as to provide
moneys, which, with other funds available for such purposes, shall be at least sufficient at all
times to pay the expenses of administering; managin& and providing for the services and
administration of the activities of the Agency, to pay costs and expenses provided for by law or
the Charter Agreement and the Financing Documents, and to pay the principal and interest on
the Obligations as the same shall become due and reserves therefore, and to provide for
necessary administration and reasonable margin of safety over and above the total amount of
such payments. Notwithstanding any other provision in the Charter Agreement or this
Subscription Agreement, such rates, fees and charges shall always be sufficient to comply fully
with any covenants contained in the Financing Documents.
(C) Such rates, fees and charges may vary from jurisdiction. to jurisdiction, but shall
be just and equitable and uniform at the time of imposition for the record owners in the same
class of or within each subscribing local governmental jurisdiction electing to enter into any
Financing Agreement described in the Supplemental Act and may be based upon or computed
upon any factor (including, by way of example and not limitation, competitive or market
conditions, distinguishing between residential and nonresidential properties or uses,
distinguishing between variable costs of administrative services over time) or combination of
factors affecting the demand or cost of the services furnished or provided to administer the
services and affairs of the Agency as may be determined by the Board of Directors from time to
time.
(D) Notwithstanding anything in this Subscription Agreement to the contrary, the
Agency may establish a general fund and/or performance assurance account into which moneys
may be deposited from an annual surcharge upon the Special Assessments imposed, pledged to
or collected by the Agency. Any moneys deposited to such general fund account from such a
surcharge shall be considered legally available for any lawful purpose approved by the Board of
Directors. Moneys in such general fund and/or performance assurance account may be used to
pay for or reimburse initial costs and expenses advanced or associated with start-up costs,
feasibility studies, economic analysis, financial advisory services, program development or
implementation costs or enhancements, public education, energy audits, administration, quality
control, vendor procurement, and any other purpose associated with the purpose or mission of
the Agency approved by the Board of Directors.
SECTION 2.04. FINANCING AGREEMENTS.
(A) The Agency shall prepare and provide to each participating property owner the
form of the Financing Agreement which complies with the Supplemental Act and is in
accordance with the Financing Documents as designated by the Board of Directors from time to
time.
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Non -Exclusive Interiacat Subscription Agreement
The Citj of Tamarac
(B) The Agency, not the Subscriber, shall be solely responsible for all matters
associated with origination, funding, financing, collection and administration of each of the
Agency's authorized non -ad valorem assessments.
SECTION 2.05. IMPOSITION of SPECIAL ASSESSMENTS PURSUANT To
FINANCING AGREEMENTS.
(A) Upon execution by the record owners and the Agency, the Financing Agreement
or a summary or memorandum thereof shall be recorded by the Agency within five (5) days of
execution as required by Section 163.08(8), Florida Statutes. The recorded Financing
Agreement, or summary or memorandum thereof, provides constructive notice that the non -ad
valorem assessment to be levied on the subject property constitutes a lien of equal dignity to ad
valorem taxes and assessments from the date of recordation.
(B) In a reasonably cooperative and uniform manner the Agency is authorized to
and sha11 provide a digital copy to the property appraiser or tax collector of the recorded
Financing Agreement or summary thereof, the most recent property identification number and
annual amount of the non -ad valorem assessment along with such other efficient and
reasonable information necessary for the tax collector to collect such amounts on behalf of the
Agency pursuant to Sections 197.3632 and 163.08, Florida Statutes, as a non -ad valorem
assessment.
SECTION 2.06. COLLECTION OF SPECIAL ASSESSMENTS.
(A) The Agency shall be solely responsible for professionally coordinating all
interface with the tax collector or property appraiser, and minimize to the greatest
extent reasonably possible the time, effort and attention of these public officials to
accomplish the public purposes and direction of the Supplemental Act subscribed to by
the City. Subscriber hereby respectfully requests and encourages the tax collector or
property appraiser to only impose, charge, or deduct the minimum amount allowed by
general law for the collection or handling of the Special Assessments which are the
subject of this Subscription Agreement.
(B) To advance Program acceptance and to minimize Program participation
costs, and because each Property Owner is voluntarily undertaking to achieve and
underwrite the unique and compelling State interests described in the Supplemental
Act, the Subscriber urges either the waiver of such fees by the tax collector. and property
appraiser or a flat five dollar ($5) fee per year per tax parcel for such purposes which
shall be paid by the Agency via deduction, by the institutional trustee required by the
Financing Documents, or as otherwise reasonably agreed to by the Agency and these
parties.
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Non -Exclusive Intertocal Subscription Agreement
The Ciiij of Tamarac
SEsCTION 2.07. PLEDGE OF PROCEEDS FROM NON AD VALOREM
ASSESSMENTS.
(A) The Agency will take such actions as are necessary for the lawful levy of the
Special Assessments against all lands and properties specially benefitted by the acquisition,
construction and financing of Qualifying Improvements. If any assessment made with respect
to any property shall be either in whole or in part annulled, vacated or set aside by the
judgment of any court, or if the Agency or Subscriber shall be satisfied that any such assessment
is so irregular or defective that the same cannot be enforced or collected, the Agency is
authorized to take all necessary steps to cause a new assessment to be made for the whole or
any part of any Qualifying Improvements or against any property specially benefitted by. such
improvement, to the extent and in the manner provided by law.
(B) Pursuant to the Financing Documents and this Subscription Agreement, the
Agency shall irrevocably pledge and, to the fullest extent permitted by law, pledge and assign
any and all revenues derived from Special Assessments to the repayment of any debt obligation
issued by the Agency pursuant to the Financing Documents.
(C) The Subscriber shall not incur or ever be requested to authorize any obligations
secured by Special Assessments associated with Qualifying Improvements imposed by the
Agency-
(D) Each series of Financing Documents shall be secured forthwith equally and
ratably Y a b a of and lien upon the Special Assessments. The obligations of the Agency
pledge �
under and pursuant to the Financing Documents shall not be or constitute general obligations
or an indebtedness of the Subscriber as "bonds" within the meaning of the Constitution of
Florida, but shall be payable from and secured solely by a lien upon and pledge of the Special
Assessments as provided herein. Neither the Agency nor any holder of any debt obligation
issued by Agency the A en pursuant to the Financing Documents shall ever have the right to compel
the exercise of the ad valorem taxing power of the Subscriber or taxation in any form of
property therein to pay any amount due under any Financing Documents or any Special
Assessment. The Financing Documents shall not constitute a lien upon any property of or in the
Subscriber except as to the respective Special Assessments in the manner provided herein and by
law.
SECTION 2.0$. CARBON CAR SIMILAR CREDITS. The form. of Financing
Agreement in each instance shall provide for the transfer of any carbon or similar mitigation
credits derived from Qualifying Improvements to the Agency, with such revenues therefrom, if
any ever materialize, to be used by the ,Agency to underwrite generally its operation, mission
and purpose. The Financing Agreement, in each instance, shall separately and expressly
confirm that consideration therefore is in the form and substance of economies of scale
provided by the Agency and its programs and $1 and other good and valuable consideration
provided to and received by the Property Owner, or such other statement of consideration as
shall be appropriate under the circumstances. By execution hereof any such interest in
mitigation credits shall be assigned by the Subscriber to the Agency without any future action
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Non -Exclusive Interlocal Sitbscription Agreement
Vie Cihj of Tamarac
by the parties. Provided, however, the Subscriber shall upon request from time to time execute
and deliver all such documents as may be reasonably required to further evidence the
assignment and transfer of such interests to the Agency. Such credits expressly exclude
investment tax credits available under the Internal Revenue Code or monetary rebates available
to the Property Owner.
ARTICLE III
GENERAL PROVISIONS
SECTION 3.01. INTERLOCAL AGREEMENT PROVISIONS. This Subscription
,Agreement constitutes a joint exercise of power, privilege or authority by and between the
Subscriber and the Agency and shall be deemed to be an "interlocal agreement' within the
meaning of the Florida Interlocal Cooperation Act of 1969, as amended. This Interlocal
Agreement shall, be filed by the .Agency with the Clerk of the Circuit Court of the county in
which the Subscriber is located.
SECTION 3.02. DISCLOSURE,
(A) The Agency has provided a copy of (1) the Supplemental Act, (2) the Agency's
Charter Agreement, (3) the Final judgment in Fla. PACE Funding Agency v. State, No. 2011-CA-
1824 (Fla. 2d Cir. Ct. 2011), and (4) other relevant disclosure information and background
materials to the Subscriber prior to execution hereof. Subscriber, through its own staff and
advisors, has independently reviewed and considered the foregoing and other relevant
information of its choosing.
(B) The objective of the Agency's mission is to offer a uniform, standardized and
scalable approach that provides efficiencies and economies of scale intended to attract
voluntary .financing of Qualifying Improvements and stimulate a substantial and meaningful
flow of private sector economic activity and new job creation. In doing so, each subscribing
local government by entering into a subscription agreement of this nature authorizes the
availability of the Agency's uniform program to property owners in the subscribing jurisdiction.
Accordingly, the Agency has engaged, and may engage in the fixture, various advisors,
consultants, attorneys or other professionals or firms with recognized expertise necessary to
accomplish the Agency's mission.
(C) Each of the various advisors, consultants, attorneys or other professionals
engaged by the Agency has been, and shall in the future be, disclosed to the Subscriber. The
Subscriber and Agency recognize, consider and acknowledge the fact or possibility that one or
more of the various professionals or firms may serve as the advisor to the Agency in its mission,
and to the Subscriber or another client in providing other similar professional services, outside
of the provision, funding and financing of Qualifying Improvements. Such circumstance is
acceptable and will not be construed as a conflict, be objected to unreasonably, nor be used as
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Non -Exclusive Interlocal Subscription Agreement
The Cihj of Tamarac
the basis for its disqualification of such professionals or firms from any continued or fixture
representation of either party hereto which can otherwise be resolved by a reasonable waiver.
SECTION 3.03. TERM OF AGREEMENT; DURATION OF AGREEMENT;
EXCLUSIVITY,
(A) The term of this Interlocal Agreement shall commence as of the date first above
written, and initially continue for the next three (3) full fiscal years (ending September 30)
following execution hereof. The term of this Agreement shall then be renewed for successive
three-year periods, unless either party provides notice to the other in writing of intent to
terminate not later than 180 days prior to the end of any three-year term, or as otherwise agreed
to by the parties in writing. Provided, however either party may unilaterally terminate this
Agreement prior to any Financing Agreements being executed or, if earlier, the issuance of any
Obligations of the .agency secured by Pledged Revenues derived from within the jurisdiction or
boundaries of the Subscriber.
(B) In the event of any termination hereunder, and so long as the Agency has
Obligations outstanding which are secured by fledged Revenues derived from Financing
Agreements relating to any properties within the jurisdiction or boundaries of the Subscriber, or
the Agency has. projects for Qualified Improvements underway therein, the applicable
provisions, authority and responsibility under this Agreement reasonably necessary to carry out
the remaining aspects of the Program and responsibilities of Agency then underway, shall
remain in effect and survive such termination until such time as those obligations and all
associated remaining Program responsibilities are fulfilled (including; but not limited to the
collection of assessments in due course).
(C) In light of the unique nature of the Agency's program and in recognition of the
capital investment made by the Agency and its contracting parties, and in order to maximize
the benefits of a uniform implementation of a program under the Supplemental Act, the
Subscriber covenants that it will not terminate this Agreement without cause. Provided,
however, the Agency's powers to be employed and exercised hereunder shall be nor -exclusive,
and the Subscriber is free to and reserves the right to enter into or otherwise commence another
program for financing Qualified Improvements using non -ad valorem assessments either under
the Supplemental Act or pursuant to its home rule powers upon written notice to the Agency of
its decision to do so.
SECTION 3.04. AMENDMENTS AND WAIVERS.
(A) Except as otherwise provided herein., no amendment, supplement, modification
or waiver of this Subscription Agreement shall be binding unless executed in writing by the
Subscriber and Agency.
(8) To the extent the Agency has no outstanding bonds, Obligations or other
evidence of indebtedness, this Subscription Agreement may be amended or modified or
provisions hereto waived upon the written consent of all parties hereto.
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Ton -Exclusive Interlocal Subscription Agreeinent
The Cihj of Tamarac
(C) To the extent the Agency has outstanding bonds, Obligations or other evidence
of indebtedness arising from. Financing Agreements relating to properties within the
jurisdiction or boundaries of the Subscriber, this Subscription Agreement may not be amended
or modified in any way that is materially adverse to holders of such bonds, Obligations or other
evidence of indebtedness without the consent in writing of the holders of at least two-thirds
(2/3) or more in principal amount of such bonds, Obligations or other evidence of indebtedness
(exclusive of any warrants issued by the Agency) then outstanding or any insurer duly
authorized to provide such consent on behalf of such holders.
SECTION 3.05. NOTICES.
(A) All notices, certificates or other communications hereunder shall be sufficiently
given and shall be deemed given when hand delivered (or confirmed electronic facsimile
transmission) or mailed by registered or certified mail, postage prepaid, or sent by nationally
recognized overnight courier (with delivery instructions for "next business day" service) to the
parties at the following addresses:
Subscriber: The City of Tamarac
ATTN: City Manager
7525 NW 881h Avenue
Tamarac, Florida 33321-2401
With a copy to: The City of Tamarac
ATTN: City Attorney
7525 NW 881h Avenue
Tamarac, Florida 33321 2401
Agency: Executive Director
Florida FACE Funding Agency
c/o City of Kissimmee
101 North Church Street, Fifth Floor
Kissimmee, Florida 34741
With a copy to: Program Counsel for the Florida PACE Funding Agency
P.O. Box 14043
Tallahassee, Florida 32317-4043
(B) Any of the parties may, by notice in writing given to the other, designate any
further or different addresses to which subsequent notices, certificates or other communications
shall be sent. Any notice shall be deemed given on the date such notice is delivered by hand (or
confirmed electronic facsimile transmission) or three days after the date mailed.
SECTION 3.06. QUALITY CONTROL AND COMMUNICATION. For quality
control purposes the Agency and Subscriber desire, and the Agency covenants to develop,
implement and employ policies, systems and procedures which are within industry standards;
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Non -Exclusive Interlocal Stibscription Agreement
The CitJ1 of Tamarac
with such standards being reasonably expected to change and evolve over time. An ongoing
positive and informal line of communication between staff and agents for the parties is
encouraged. At any time, notwithstanding lack of default or lack of material breach hereunder,
the Subscriber is encouraged to objectively and specifically communicate to the Agency in
writing as provided for herein any concerns, suggestions or disapproval with performance,
policies, systems or procedures being employed by the Agency. The Agency through its
administrator, Executive Director, or a duly authorized designee, will promptly respond in
writing, to all such communications (reasonably within fifteen (15) days of receipt of any such
written communication, but sooner if necessary) and follow-up accordingly; and, also promptly
communicate any such response, follow-up, and all related communication to the Board of
Directors for review.
SECTION 3.07. IMMUNITY; LIMITED LIABILITY.
(A) All of the privileges and immunities from liability and exemptions from laws,
ordinances and rules which apply to the activity of officials, officers, agents or employees of the
parties shall apply to the officials, officers, agents or employees thereof when performing their
respective functions and duties under the provisions of this Subscription Agreement.
(B) The Subscriber and Agency are and shall be subject to Sections 768.28 and
I63.01(9)(c), Florida Statutes, and any other provisions of Florida law governing sovereign
immunity. Pursuant to Section 163.01(5)(o), Florida Statutes, and this covenant of the parties
hereto, the local governments who are either or both the incorporators or members of the
Agency shall not be held jointly liable for the torts of the officers or employees of the Agency, or
any other tort attributable to the Agency, and that the Agency alone shall be liable for any torts
attributable to it or for torts of its officers, employees or agents, and then only to the extent of
the waiver of sovereign immunity or limitation of liability as specified in Section 768.28, Florida
Statutes. The Subscriber and Agency acknowledge and agree that the Agency shall have all of
the privileges and immunities From liability and exemptions from laws, ordinances, rules and
common law which apply to the municipalities and counties of the State. Nothing in this
Subscription Agreement is intended to inure to the benefit of any third -party for the purpose of
allowing any claim, which would otherwise be barred under the doctrine of sovereign
immunity or by operation of law.
(C) Neither the Subscriber, nor the local governments who are either or both the
incorporators or members of the Agency, nor any subsequently subscribing or participating
local government in the affairs of the Agency shall in any manner be obligated to pay any debts,
obligations or liabilities arising as a result of any actions of the Agency, the Board of Directors
• or any other agents, employees, officers or officials of the Agency, except to the extent otherwise
mutually and expressly agreed upon, and neither the Agency, the Board of Directors or any
other agents, employees, officers or officials of the Agency have any authority or power to
otherwise obligate either the Subscriber, the local governments who are either or both the
incorporators or members of the Agency, nor any subsequently subscribing or participating
local government in the affairs of the Agency in any manner.
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Non -Exclusive Interlocal Subscription Agreement
The City of Tamarac
SECTION 3.08. BINDING EFFECT. This Subscription Agreement shall be
binding upon the parties, their respective successors and assigns and shall inure to the benefit
of the parties, their respective successors and assigns.
SECTION 3.09. SEVERABILITY In the event any provision of this
Subscription Agreement shall be held invalid or unenforceable by any court of competent
jurisdiction, such holding shall not invalidate or render unenforceable any other provision
hereof.
SECTION 3.10. EXECUTION IN COUNTERPARTS. This Subscription
Agreement may be simultaneously executed in several counterparts, each of which shall be an
original and all of which shall constitute but one and the same instrument.
SECTION 3,1.1, APPLICABLE LAW, The exclusive venue of any legal or
equitable action that arises out of or relates to this Subscription Agreement shall be the
appropriate state court in Leon County. In any such action, Florida law shall apply and the
parties waive any right to jury trial.
SECTION 3.12. ENTIRE AGREEMENT, This Subscription Agreement
constitutes the entire agreement among the parties pertaining to the subject matter hereof, and
supersedes all prior and contemporaneous agreements, understandings, negotiations and
discussions of the parties, whether oral or written, and there are no warranties, representations
or other agreements among the parties in connection with the subject matter hereof, except as
specifically set forth herein.
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Von -Exclusive .Interlocal Subscription ,Agreement
Fite City of Tamarac
IN WITNESS WHEREOF, the undersigned have caused this Non -Exclusive
Subscription Agreement to be duly executed and entered into as of the date first above written.
Patricia Teufel, City Clerk
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TNF CTTY nF TAMARAC
Approved as to forum:
el S. Goren,
9/n
Attarney
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Non-exclusive Interlocal Subscription Agreement
The City of Tamarac
IN WITNESS WHEREOF, the undersigned have caused this Interlocal Agreement to be
duly executed and entered into as of the date first above written.
Donald T. Smallwood, Assistant Secretary
THE FLORIDA PACE FUNDING AGENCY
By:
Michael H. Steigerwald, Executive Director
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