Title:
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Approve and Authorize the Chairman to execute a Resolution of the Board of County Commissioners of Seminole County, Florida, approving, solely for the limited purposes of Section 147(f) of the Internal Revenue Code, the issuance by the Orange County Industrial Development Authority of industrial development revenue and refunding bonds (Central Florida YMCA Project) Series 2024 in an aggregate principal amount not exceeding $18,000,000, in one or more series, for the purpose of providing funds to the Young Men’s Christian Association, Inc. to refinance such entity’s obligations with respect to the Authority’s Industrial Development revenue and refunding bonds, Series 2014 for the acquisition, construction, renovation and equipping of social service facilities, including social service center facilities located in Seminole County at 665 Longwood-Lake Mary Road, Lake Mary, and 7900 Red Bug Lake Road, Oviedo, further described in the Resolution; and providing an effective date. Countywide (Kate Latorre, County Attorney)
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Division:
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County Attorney Office
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Authorized By:
Kate Latorre, County Attorney
Contact/Phone Number:
Kate Latorre/407-665-7257
Background:
The required public hearing was held by the Orange County Industrial Development Authority on April 2, 2024.
Approval of the Resolution does not obligate Seminole County to incur liability, pecuniary or otherwise, in the subject transaction.
Requested Action:
Staff requests the Board adopt the Resolution approving, solely for the limited purposes of Section 147(f) of the Internal Revenue Code, the issuance by the Orange County Industrial Development Authority of industrial development revenue and refunding bonds Series 2024 in an aggregate principal amount not exceeding $18,000,000, in one or more series, for the purpose of proving funds to the Young Men’s Christian Association, Inc. to refinance such entity’s obligations with respect to the Authority’s Industrial Development revenue and refunding bonds, Series 2014 for the acquisition, construction, renovation and equipping of social service facilities, including social service center facilities located in Seminole County at 665 Longwood-Lake Mary Road, Lake Mary, and 7900 Red Bug Lake Road, Oviedo.