HomeMy WebLinkAboutCity of Tamarac Resolution R-94-118"Temp Reso. # 6743"
CITY OF TAMARAC, FLORIDA
RESOLUTION NO. R-94- //F
A RESOLUTION OF THE COUNCIL OF THE CITY OF
TAMARAC, FLORIDA DECLARING THE OFFICIAL INTENT
OF THE CITY TO ISSUE NOT EXCEEDING $16,000,000
CITY OF TAMARAC REVENUE BONDS HEALTH CARE
FACILITIES REVENUE BONDS (THE GARDENS OF
TAMARAC PROJECT) SERIES 1994 AND TO REIMBURSE
JEWISH GERONTOLOGICAL CARING CENTER OF SOUTH
FLORIDA, INC. AND WOODMONT GARDENS FROM THE
PROCEEDS OF TAX-EXEMPT OBLIGATIONS FOR
CERTAIN EXPENSES TO BE INCURRED WITH RESPECT
TO THE ACQUISITION, CONSTRUCTION AND EQUIP-
PING OF CERTAIN ADULT CONGREGATE LIVING
FACILITIES; AUTHORIZING CERTAIN INCIDENTAL AC-
TIONS; AND PROVIDING FOR AN EFFECTIVE DATE..
WHEREAS, in connection with the acquisition, construction and equipping by the
Jewish Gerontological Caring Center of South Florida, Inc. (the "Borrower") of certain adult
congregate living facilities described on Exhibit A hereto (Whc "Project"), the Borrower and
Woodmont Gardens (the "Seller") expect to incur expenses for which the Borrower and the
Seller will advance internal funds; and
WHEREAS, the Borrower intends to reimburse itself and the Seller for all or a
portion of such expenses from the proceeds of tax-exempt obligations (the 'Bonds" as
hereinafter defined) to be issued by the City in an amount not exceeding $16,000,000.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF
TAMARAC, FLORIDA:
Section 1. Declaration f Official Intent. The City hereby declares its official intent
to issue not exceeding $16,000,000 City of Tamarac Revenue Bonds Health Care Facilities
Revenue Bonds (The Gardens of Tamarac Project) Series 1994 and to reimburse the
Borrower and the Seller from the proceeds of the above -mentioned Bonds to be issued by
the City for expenses incurred with respect to the Project within 60 days prior to the date
of this Resolution and to be incurred subsequent to the date of this Resolution, including,
but not limited to, fees and expenses relating to legal, accounting, engineering, architectural,
printing, advertising, feasibility and financial consulting services associated with the Project,
costs of permits and licenses and fees and expenses of the City and its staff relating to the
Project. This Resolution is intended as a declaration of official intent under Treasury
Regulation § 1.150-2. The obligations to be incurred to finance the Project are expected not
to exceed an aggregate principal amount of $16,000,000.
Section 2. Incidental Aciiann. The appropriate members of the City and officials and
staff are hereby authorized to take such actions as may be necessary to carry out the
purpose of this Resolution.
Section 3. Effective Date. This Resolution shall take effect immediately upon its
adoption.
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"Temp Resp. #6743"
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PASSED AND ADOPTED AND APPRO D this day o�1994.
Norman Abramowitz
Mayor
ATTEST: -
Carol vans, City Clerk
MAYOR
DIST.1:
DIST. 2:
DIST. 3:
DIST. 4:
RECORD OF COUNCIL VOTE
ABRAMOWITZ 6&41,
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EXHIBIT "A"
The Project shall consist of the acquisition of land in the City of Tamarac, Florida
and the construction and equipping of three two-story residential pods of 86,650 square feet
in enclosed space with a total of 144 beds.
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