HomeMy WebLinkAboutCity of Tamarac Resolution (55)Temp Reso #9568
February 15, 2002
CITY OF TAMARAC, FLORIDA
RESOLUTION NO. R-2002-55
A RESOLUTION OF THE CITY COMMISSION OF THE CITY
OF TAMARAC, FLORIDA, AUTHORIZING A
MEMORANDUM OF AGREEMENT WITH INTERNATIONAL
BULLION AND METAL BROKERS, INC., A NEW YORK
CORPORATION, WITH RESPECT TO THE FINANCING OF
THE CONSTRUCTION AND EQUIPPING OF A
MANUFACTURING PROJECT IN THE CITY OF TAMARAC,
FLORIDA; PROVIDING FOR THE ISSUANCE OF
INDUSTRIAL DEVELOPMENT REVENUE BONDS OF THE
CITY OF TAMARAC, FLORIDA, IN AN ORIGINAL
PRINCIPAL AMOUNT NOT TO EXCEED $6,000,000 FOR
THE PURPOSE OF PAYING ALL OR ANY PART OF THE
COST OF THE PROJECT; PROVIDING CERTAIN OTHER
DETAILS WITH RESPECT THERETO; PROVIDING FOR
CONFLICTS; PROVIDING FOR SEVERABILITY; AND
PROVIDING FOR AN EFFECTIVE DATE.
BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF
TAMARAC, FLORIDA, AS FOLLOWS:
SECTION 1. AUTHORITY FOR THIS RESOLUTION. This Resolution is
adopted pursuant to the provisions of the Florida Industrial Development Financing Act,
Chapter 159, Part II, Florida Statutes, as amended and other applicable provisions of law
(the "Act").
SECTION 2. FINDINGS. It is hereby ascertained, determined and declared that:
A. The City of Tamarac, Florida (the "Issuer") is authorized and empowered by
the Act to provide for the issuance of and to issue and sell its revenue bonds for the
purpose of paying all or any part of the cost of any "project", as that term is defined in the
Act.
B. International Bullion and Metal Brokers, Inc., a New York corporation,
organized, existing and in good standing under the laws of the State of New York and
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February 15, 2002
authorized to do business in the State of Florida (the "Company"), has informed the Issuer
of its intent to acquire land, construct and make certain improvements, which
improvements include constructing an approximately 80,500 square foot building, and
related parking and site improvements, and acquiring certain equipment for the
manufacture of jewelry and related products at Westpointe Center (on the northwest
corner of Hiatus Road and Commercial Boulevard) within the municipal boundaries of the
Issuer (the "Project"), and has made application to the Issuer to finance such Project
through the issuance of revenue bonds.
C. The Company has requested the Issuer to exercise its powers to issue
revenue bonds, pursuant to the Act, for the purpose of financing the Project.
D. In order to promote development and the economic growth within the
municipal boundaries of the Issuer and the industrial economy of the State of Florida, to
increase opportunities for gainful employment, to advance and improve the economic
prosperity and the general welfare of the State and its people, and to facilitate the
development of a commercial manufacturing project, it is desirable that the Issuer provide
for the issuance and sale of its Industrial Development Revenue Bonds (International
Bullion and Metal Brokers, Inc. Project), Series 2002, in the aggregate amount of not to
exceed $6,000,000 (the 'Bonds") and that the Issuer use the proceeds thereof to pay any
"cost" (as defined in the Act) of the Project.
E. The Issuer is willing to finance the Project for the Company from proceeds of
the sale of its revenue bonds, and loan the proceeds to the Company, such loan to be
payable by the Company in installments, guaranteed by the Company, sufficient to pay the
principal of, premium (if any), interest and other costs due on such revenue bonds when
and as the same become due.
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February 15, 2002
F. The Project will be a "Project" within the meaning of Section 159.27(5) of the
Act in that, without limiting the generality of the foregoing, the Project is a
"manufacturing plant." The Company has represented that the Project will enable the
employment of approximately 120-150 workers. The Project will be developed and owned
by the Company.
G. The Project will make a significant contribution to the economic growth
within the municipal boundaries of the Issuer and the area in which it is located, will
provide gainful employment and will serve a public purpose by advancing the economic
prosperity and the general welfare of the State of Florida and its people.
H. The Issuer finds that it will be able to cope satisfactorily with the impact of
the Project and is able to provide, or cause to be provided when needed, the public
facilities, including utilities and public services, that will be necessary for the construction,
operation, repair and maintenance for the Project and on account of any increase in
population or other circumstances resulting therefrom.
I. It is believed essential by the Company that the acquisition and construction
of the Project commence at the earliest practical date, and the Company is unwilling to
make commitments therefore without satisfactory assurances from the Issuer that, upon
satisfaction of all requirement of law, and other conditions to be met by the Company, the
revenue bonds will be issued and sold and the proceeds thereof will be made available to
finance the cost of the Project, to the extent of such proceeds.
J. It is necessary and desirable and in the best interest of the Issuer that the
Issuer and the Company enter into a Memorandum of Agreement (the "Memorandum of
Agreement"), providing among other things for the issuance of the Bonds by the Issuer and
the sale of the Bonds in $100,000 denominations; for the use and application of the
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February 15, 2002
proceeds of the issuance and sale of the Bonds to pay all or any part of the "cost" (as
defined in the Act) of the Project, to the extent of such proceeds; and for the loan of the
proceeds of the sale of the Bonds by the Issuer to the Company pursuant to a financing
agreement requiring the Company to pay the loan in installments sufficient to pay all of
the interest, principal, redemption premiums (if any) and other costs due under and
pursuant to the Bonds when and as the same become due and payable, to operate, repair
and maintain the Project at the Company's own expense, and to pay all other costs
incurred by the Issuer in connection with the financing, construction and administration of
the Project which are not paid out of the Bond proceeds or otherwise.
K. Based in part on a letter of credit to be issued by SunTrust Bank, the
Company is financially responsible and fully capable and willing to fulfill its obligations
under the proposed financing agreement, including the obligation to make installment
payments on the loan for the Project financed with the proceeds of the sale of the bonds in
the amount and at the times to be required by the financing agreement; the obligation to
operate, repair and maintain such Project at its own expense; and to serve the purpose of
the Act and other responsibilities to be imposed under the financing agreement, due
consideration having been given to various factors determinative of the financial capability
of the Company.
L. Neither the Issuer, Broward County, the State of Florida, nor any other
political subdivision of said State shall be obligated to pay the principal of, premium, if
any, or interest on the Bonds or other costs incident thereto, and all payments required on
the Bonds shall be payable solely from the proceeds derived by the Issuer from the
Company under a financing agreement, and the Issuer shall never be required to (i) levy ad
valorem taxes on any property within its area of operation to pay the principal of and
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February 15, 2002
premium, if any, and interest on the Bonds or to make any other payments provided for
under any financing agreement, or (ii) pay the same from any funds of the Issuer other
than those derived by the Issuer from the Company under any financing agreement; and
such Bonds shall not constitute a lien upon any property owned by or situated within the
municipal boundaries of the Issuer except the Project and any other property that may be
pledged as security therefore by the Company, in the manner provided in any financing
agreement. Neither the full faith and credit of the Issuer nor the full faith and credit or
taxing power of the State of Florida, Broward County, or any other political subdivision of
said State is pledged to the payment of the principal of, premium, if any, or interest on the
Bonds or other costs incident thereto, such Bonds are limited special obligations of the
Issuer payable solely from the sources identified above. No member or officer of the Issuer
will be subject to any personal liability by reason of the issuance of the Bonds.
M. The costs to be paid from the proceeds of the Bonds will be "costs of a project"
within the meaning of the Act.
N. Prior to issuance of the Bonds, the Issuer will receive an opinion from its
bond counsel to the effect that the Bonds will be validly issued and that the interest on the
Bonds will, under existing laws of the United States, be excluded from gross income of the
holders for federal income tax purposes.
O. Section 147(f) of the Internal Revenue Code of 1986, as amended (the
"Code"), requires as a condition of exclusion from gross income for federal income tax
purposes of the interest on private activity bonds, that the issuance of private activity
bonds, as defined in Section 141(a) of the Code, such as the Bonds, in a principal amount
not to exceed $6,000,000 be approved, after a public hearing following reasonable public
notice, by the governmental unit on behalf of which such obligation is to be issued and the
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February 15, 2002
governmental unit having jurisdiction over the area in which the private activity
bond -financed facility is to be located. The Issuer has authorized, properly noticed and
held a public hearing as required by law prior to adopting this resolution. Proof of
publication of such notice is attached hereto as Exhibit B, which is incorporated herein by
reference.
SECTION 3. AUTHORIZATION OF EXECUTION AND DELIVERY OF
MEMORANDUM OF AGREEMENT.
A. The Mayor or the Vice -Mayor of the Issuer shall be and are hereby
authorized and directed to execute the Memorandum of Agreement in substantially the
form attached hereto as Exhibit A, which is incorporated herein by reference, together with
such changes therein, whether made prior to or after adoption of this Resolution, as shall
be approved from time to time by the officers executing the same on behalf of the City, such
approval to be conclusively evidenced by their execution of the Memorandum of Agreement.
B. Execution of the Memorandum of Agreement shall be in the name of and on
behalf of the Issuer, and the City Clerk is hereby authorized and directed to attest the
same, and to deliver the Memorandum of Agreement to the Company.
C. Such officers and all other proper officers, Commissioners, directors, agents
and employees of the Issuer are hereby authorized, empowered and directed to execute and
deliver such further agreements, instruments and documents and to take such further
action as may be necessary and desirable to effectuate and carry out the intent and
purposes of the Memorandum of Agreement, when executed and delivered by the Issuer,
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and are further authorized to take such other steps and actions as may be required and
necessary in order to issue such Bonds.
SECTION 4. APPROVAL OF ISSUANCE. The issuance of the City of Tamarac,
Florida Industrial Development Revenue Bonds (International Bullion and Metal Brokers,
Inc. Project), Series 2002, in the aggregate amount not to exceed $6,000,000, for the
purpose of providing financing for the construction and equipping of a jewelry
manufacturing facility and related facilities, all of which will be owned and operated by
International Bullion and Metal Brokers, Inc., and located in WestPointe Center on the
northwest corner of Hiatus Road and Commercial Boulevard, Tamarac, Florida, is hereby
approved pursuant to and in accordance with Section 147(f) of the Code and the Act.
SECTION 5. AUTHORIZATION TO MAKE APPLICATION. The Director of
Finance or bond counsel acting on behalf of the Issuer, is hereby authorized to apply to the
Division of Bond Finance of the State of Florida for an allotment of Florida's volume cap for
private activity bonds in an amount not to exceed $6,000,000.
SECTION 6. EFFECT OF RESOLUTION. This Resolution is an "initial
resolution" and is the Issuer's declaration of "official intent" within the meaning of the Act
and official action toward issuance of the Bonds for purposes of Sections 103 and 141
through 150 of the Internal Revenue Code of 1986, as amended, and the regulations
promulgated thereunder, including, but not limited to Section 1.103-18, as amended.
SECTION 7. REPEALING CLAUSE. All resolutions or orders and parts thereof
in conflict herewith, to the extent of such conflicts, are hereby superseded and repealed.
SECTION 8. SEVERABILITY. If any clause, section, other part or application of
this Resolution is held by any court of competent jurisdiction to be unconstitutional or
applications of this Resolution.
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February 15, 2002
SECTION 9. EFFECTIVE DATE. This resolution shall take effect immediately
upon its adoption.
PASSED, ADOPTED, AND APPROVED this 27th day of February, 2002.
ATTEST:
MARION S ENSON, CMC
CITY CLERK
I HEREBY CERTIFY that I
have ap r ve this
RESO U 101 as toArm.
ITCHELL S. KRAFT
CITY ATTORNEY
la-c e&�- 2
JOE SCHREIBER
MAYOR
RECORD OF COMMISSION VOTE:
MAYOR SCHREIBER A-M
DIST 1: COMM. PORTNER Avg
DIST 2: COMM. MISHKIN A ei
DIST 3: V/M .ULTANOF_Avel
OtSf4— COMM. ROBERTS Aye,
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MEMORANDUM OF AGREEMENT
This MEMORANDUM OF AGREEMENT, dated as of this 271h day of February, 2002,
between the CITY OF TAMARAC, FLORIDA, a municipal corporation duly created and
existing under and by virtue of the laws of the State of Florida (the "Issuer" or the "City") and
INTERNATIONAL BULLION AND METAL BROKERS, INC., a New York corporation duly
organized and existing under the laws of the State of New York and authorized to do business
in the State of Florida (the "Company").
SECTION 1. The matters of mutual inducement and reliance which resulted in the
execution of this Memorandum of Agreement are as follows:
(a) The Issuer is a local agency under the provisions of Chapter 159, Part II,
Florida Statutes, as amended (the "Act"), to provide for the issuance of and to issue and sell its
Industrial Development Revenue Bonds for the purpose of paying all or any part of the cost of
any "project" as defined in the Act.
(b) In order to improve the economic base of the City and the industrial
economy in the State of Florida (the "State"), to promote the economic growth of the City and
the State, to increase purchasing power and opportunities for gainful employment, and to
advance and improve the economic prosperity and the general welfare of the State and its
people, it is desirable that the Issuer issue and sell its Industrial Development Revenue Bonds
(International Bullion and Metal Brokers, Inc. Project), Series 2002, in the aggregate principal
amount of not to exceed $6,000,000 (the "Bonds").
(c) The Issuer intends to use the proceeds thereof, to the extent of such
proceeds, as follows: (i) to pay all or any part of the cost of issuance of the Bonds, (ii) to pay all
or any part of the cost of acquiring lands, constructing improvements thereon and developing
and equipping of a manufacturing facility and facilities directly related or ancillary thereto, (iii)
to pay all or any part of the cost of certain appurtenances and facilities incidental thereto, and
other improvements necessary and convenient therefore (the land, improvements to be acquired
and developed, such appurtenances and facilities incidental thereto, being referred to herein,
collectively, as the "Project"), and (iv) to pay any other "cost" (as defined in the Act) of the
Project.
(d) The Issuer intends to finance the Project for the Company from proceeds
of the sale of its Bonds, such loan to be payable by the Company in installments sufficient to
pay the principal of, premium (if any), interest and costs due on the Bonds when and as the
same become due.
(e) The Company has requested that the Issuer enter into this Memorandum
of Agreement for the purpose of declaring the Issuer's intention to provide financing to pay all
or a portion of the cost of the Project.
(f) The Issuer, by resolution duly passed and adopted, has made certain
findings and determinations and has approved and authorized the execution and delivery of
this Memorandum of Agreement.
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(g) The Company represents that Bond proceeds will not be used to finance
any costs for the Project incurred prior to the date of this Memorandum of Agreement, except to
the extent allowed by federal tax law.
SECTION 2. The Issuer will cooperate with the Company and its agents in the
Company's efforts to find one or more institutional purchasers for the Bonds, and if purchase
arrangements satisfactory to the Company can be made by the Company and its agents, the
Issuer will authorize the issuance and sale of the Bonds, and will issue and sell the Bonds to
such purchaser or purchasers of the Bonds as may be designated by the Company all upon such
terms and conditions as shall be approved by the Company and authorized by law; provided,
however, the Issuer will approve the sale of the Bonds solely to accredited investors which will
at no time cause the Bonds to be offered for sale to the public. The Bonds will be credit
enhanced through the issuance of a letter of credit from SunTrust Bank, and will not constitute
a debt, liability or obligation of the Issuer, Broward County, or of the State or of any other
political subdivision thereof. The Issuer shall not be obligated to pay the same nor interest,
premium (if any) or costs thereon except from the revenues and proceeds pledged therefore, and
neither the faith and credit nor the taxing power of the Issuer or of the State or of any other
political subdivision thereof will be pledged to the payment of the principal of, premium (if any),
interest or costs due pursuant to or under such Bonds.
From the date hereof, until the sale of the Bonds, the Company will, within ten (10) days
after its occurrence, notify the Issuer of any material change, whether or not adverse, in the
business, operations or financial condition of the Company. In the event the Issuer shall, at
any time prior to the sale of the Bonds, determine in its sole discretion that there has been a
material adverse change in the business, operations or financial condition based upon financial
statements or notices provided by the Company in accordance herewith, the obligation of the
Issuer to issue and sell the Bonds shall, at the option of the Issuer, be terminated.
SECTION 3. The Issuer will, at the proper time, and subject in all respects to the prior
advice, consent and approval of the Company, submit applications, adopt such proceedings and
authorize the execution of such documents as may be necessary and advisable for the
authorization, sale and issuance of the Bonds and the acquisition, improving, constructing and
equipping of the Project, all as shall be authorized by law mutually satisfactory to the Issuer
and the Company.
SECTION 4. The Bonds issued shall be in such aggregate principal amount, shall bear
interest at such rate or rates, shall be payable at such times and places, shall be in such forms
and denominations, shall be sold in such manner and at such time or times, shall have such
provisions for redemption, shall be executed, and shall be secured, all as shall be authorized by
the Act and all on terms mutually satisfactory to the Issuer and the Company.
SECTION 5. The Issuer will use and apply the proceeds of the issuance and sale of the
Bonds, or cause such proceeds to be used and applied, to the extent of such proceeds, to pay the
cost of the Project, and will loan such Bond proceeds to the Company for the Project pursuant to
a financing agreement requiring the Company to make payment for the account of the Issuer in
installments sufficient to pay all of the interest, principal, redemption premiums (if any) and
other costs due under and pursuant to the Bonds when and as the same become due and
payable, to operate, repair and maintain the Project at the Company's own expense, to pay all
other costs incurred by the Issuer in connection with the financing of the acquisition,
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construction, equipping and administration of the Project which are not paid out of the Bond
proceeds or otherwise for so long as any of the Bonds remain outstanding.
SECTION 6. The Company hereby agrees to acquire, construct, improve and equip the
Project, it being understood and agreed that the Company shall provide all services incident to
the construction, improving and equipping of the Project (including, without limitation, the
preparation of plans, specifications and contract documents, the award of contracts, the
inspection and supervision of work performed, the employment of engineers, architects,
building and other contractors) and that the Company shall pay all costs of the Project, subject
to reimbursement by the Issuer upon the issuance and sale of the Bonds and the use and
application of the proceeds thereof as provided above, the Issuer shall have no responsibility for
the provision of the aforesaid services. It is expected that the cost of the Project will not exceed
Six Million Dollars ($6,000,000), including interest during the period of expansion, and legal,
accounting and financing expenses. The Company agrees that to the extent that the proceeds
derived from the sale of the Bonds are not sufficient to complete the Project, the Company, as
the owner of the Project, will be responsible for supplying all additional funds which are
necessary for the completion of the Project. All risk of loss to the Project will be borne by the
Company.
SECTION 7. At or prior to the time of issuance and sale of the Bonds, the Issuer will
enter into a trust indenture with a corporate trustee (the "Trustee"), to secure the Bonds,
whereby the Issuer's interest in the Project, the financing agreement with the Company, and all
fees, rents, charges, proceeds from the operation of the Project, and other funds and revenues in
respect of the Project, will be pledged and assigned to the Trustee, and held by the Trustee in
trust, for the benefit of the holders, from time to time, of the Bonds.
SECTION 8. At or prior to the time of issuance and sale of the Bonds, the following
conditions precedent shall have been satisfied:
(a) The Company shall have satisfactorily completed all procedures
established by the Issuer for the review and approval of industrial development revenue bond
issues.
(b) The Issuer shall have duly passed and adopted a resolution making all
findings required by law and authorizing the issuance and sale of the Bonds and the execution
and delivery of the financing agreement, the trust indenture and such other agreements,
instruments and documents as may be required to be specifically authorized. It is an express
condition of this Memorandum of Agreement that the Bonds be sold only in the manner and to
a purchaser or purchasers approved by the Issuer.
(c) The Company shall have authorized the execution, delivery and
performance of the financing agreement, and approved the trust indenture and the issuance
and sale of the Bonds, and authorized or approved such other agreements, instruments and
documents for which specific authorization or approval may be required.
(d) The Company shall have provided a reasonably satisfactory opinion of its
counsel with respect to the due authorization, execution and delivery of the financing
agreement, and related agreements, instruments and documents, their legality, validity,
binding effect and enforceability in accordance with their respective terms subject to the usual
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qualification regarding creditors' rights, and the absence of any material violation (to the extent
it may adversely affect the enforceability of the financing agreement against the Company) of
applicable laws, rules, regulations, judgments, decrees or orders of any court or other agency of
government and agreements, indentures or other instruments to which the Company is a party
or by which it or any of its property, is or may be bound (such opinion shall not relate, however,
to any environmental matters) and to such other matters as may be reasonably requested.
(e) The Company and the Issuer shall have executed and delivered such
non -arbitrage certificates and representations, as may be required to comply with Section 148 of
the Internal Revenue Code of 1986, as amended, or any similar successor provisions and the
regulations, rulings and interpretative court decisions thereunder.
(f) Bryant, Miller and Olive, P.A., as bond counsel, shall have delivered its
opinion with respect to the validity of the Bonds, and to the income tax status of the interest on
the Bonds.
(g) The Company shall have provided such other or additional
representations, warranties, covenants, agreements, certificates, financial statements, and
other proofs as may be reasonably or customarily required by the Issuer or by Bryant, Miller
and Olive, P.A., as bond counsel.
(h) There shall have been obtained confirmation of any allocation from The
Division of Bond Finance of the State of Florida or any successor thereto for issuance of the
Bonds to finance the Project.
SECTION 9. In the event that the Bonds are not issued and sold and the transactions
contemplated hereby are not closed within the time limit permitted by the confirmation of an
allocation (referred to in 8(h) above) for any reason whatsoever and whether or not as a result of
any failure to find one or more purchasers for the Bonds, any default or failure of performance
by the Issuer, the inability of the Issuer to issue and sell the Bonds or the failure or inability of
the Issuer and the Company to agree to the terms and conditions of the agreements,
instruments and other documents provided for herein or contemplated hereby, the Company
agrees unless waived in the sole discretion of the Issuer that:
(a) The Company will (i) pay all its costs and expenses, including any fees due
any attorneys, financial agents or others employed by the Company, (ii) pay the reasonable fees
and expenses of bond counsel, and (iii) reimburse the Issuer for all reasonable out-of-pocket
costs and expenses, including reasonable fees and expenses of the Issuer's counsel, if any, which
the Issuer may have incurred in connection with this Memorandum of Agreement or the Bond
issue.
(b) The Company will indemnify and hold the Issuer, and the Issuer's
members, officers, employees and agents (except with respect to any intentional willful acts by
any member or agent of the Issuer), harmless against any liabilities, allegations or claims of
loss or damage (including attorneys' fees and expenses) pertaining to the Project, the Bonds, or
any transaction contemplated hereunder, or arising out of or predicated upon this
Memorandum of Agreement, any action or non -action taken or omitted in reliance upon this
Memorandum of Agreement, or any default or failure of performance hereunder.
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SECTION 10. No covenant or agreement contained in this Memorandum of Agreement
or the Bonds, the trust indenture, the financing agreement, or in any other instrument relating
to the Bonds or the Project, shall be deemed to be a covenant or agreement or any member,
officer, employee or agent of the Issuer in an individual capacity, and neither the members of
any other officer of the Issuer executing the Bonds or any such agreements or instruments shall
be liable personally thereon or be subject to any personal liability or accountability by reason
thereof.
IN WITNESS WHEREOF, the parties have executed this Memorandum of Agreement
and affixed their respective seals, as of the date first written above.
CITY OF TAMARAC, FLORIDA
(OFFICIAL SEAL)
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By:
�-)oeSchreiber, Mayor
ATTEST:
By: qX4,4A�
Marion Swenson, City Clerk
I hereb rtify that I have appro d
this gree t a form.
(y,:
h 11 S. ra , ty Attorney
(CORPORATE SEAL)
J:\Bonds\4401\moa1.doc
INTERNATI
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Temp Reso #9568
February 15, 2002
EXHIBIT B
PROOF OF PUBLICATION
OF
NOTICE OF PUBLIC HEARING
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Temp Reso #9568
February 15, 2002
Exhibit `B"
CITY OF TAMARAC, FLORIDA
NOTICE OF MEETING AND PUBLIC HEARING
For the purpose of Section 147(f) of the Internal Revenue Code of 1986, as amended, notice is hereby
given that the City Commission of the City of Tamarac, Florida, will hold a public meeting and hearing
with respect to the proposed issuance and sale of not exceeding $6,500,000 Industrial Development
Revenue Bonds, by the City of Tamarac, Florida, at its regular meeting of the City Commission to be held
Wednesday, February 27, 2002, beginning at or after 9:00 A.M. in the City Commission Chambers,
located in Tamarac City Hall, 7525 NW 88th Avenue, Tamarac, Florida.
The proceeds of such bond issue would be used to finance the acquisition, development, equipping and
construction of a jewelry manufacturing facility in the City of Tamarac industrial area (West Pointe
Center) at the northwest corner of Hiatus Road and Commercial Boulevard on approximately 7.59 acres
(the "Project"). The owner and operator of the Project would be International Bullion and Metal Brokers
[USA], Inc., or its subsidiaries (the "Company").
The bonds will not constitute a debt of the State of Florida or the City of Tamarac but will be payable
solely from payments made by the Company.
The public hearing will be conducted in a manner that provides a reasonable opportunity to be heard for
persons with differing views on both issuance of the Bonds and the location and nature of the proposed
Project. Any person desiring to be heard on this matter is requested to attend the public hearing or send
a representative. Written comments to be presented at the hearing may be submitted to the City Clerk
of the City of Tamarac.
The City Commission will also consider and act upon such other business, including but not limited to a
resolution approving issuance of the Bonds, as may properly come before the City Commission at said
hearing.
Comments made at the hearing are for the consideration of the City Commission, and will not bind any
legal action to be taken by the City Commission.
Pursuant to Chapter 286.0105, Florida Statutes, if a person decides to appeal any decision made by the
City Commission with respect to any matter considered at such meeting or hearing, he will need a record
of the proceedings and for such purpose, he may need to ensure that a verbatim record of the proceedings
is made which record includes the testimony and evidence upon which the appeal is based.
The City of Tamarac complies with the provisions of the Americans With Disabilities Act. If you are a
disabled person requiring any accommodations or assistance, please notify the City of such need at least
72 hours (3) days in advance.
Marion Swenson, CMC
City Clerk
SEAL
Publish: Sun Sentinel
On or before February 13, 2002
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