File #: RES. NO. 2019-27    Version: Name: Village on the Isle - Debt Conduit Financing
Type: Resolution Status: Passed
File created: 11/1/2019 In control: City Council
On agenda: 11/12/2019 Final action: 11/12/2019
Title: A Resolution of the City Council of the City of Venice, Florida, Providing for the Issuance of Not to Exceed $23,000,000 in Aggregate Principal Amount of its Retirement Community Revenue Improvement Bonds in One or More Tax-Exempt and Taxable Series for the Principal Purpose of Loaning the Proceeds Thereof to Southwest Florida Retirement Center, Inc. D/B/A Village On The Isle to Finance and Refinance Certain Costs Related to the Acquisition, Construction and Equipping of Various Capital Improvements to Existing Continuing Care Retirement Facilities; Providing For Certain Rights of the Owners of Such Bonds and for the Payment Thereof; Making Certain Other Covenants and Agreements in Connection with the Issuance of Such Bonds; Authorizing a Delegated Negotiated Sale of Such Bonds to the Underwriter Referred to Herein; Authorizing the Execution and Delivery of a Bond Trust Indenture, Loan Agreement, Bonds, Purchase Agreement and All Other Related Agreements and Instruments Including, With...
Attachments: 1. Resolution, 2. Memorandum from Larson Consulting Services

Title

A Resolution of the City Council of the City of Venice, Florida, Providing for the Issuance of Not to Exceed $23,000,000 in Aggregate Principal Amount of its Retirement Community Revenue Improvement Bonds in One or More Tax-Exempt and Taxable Series for the Principal Purpose of Loaning the Proceeds Thereof to Southwest Florida Retirement Center, Inc. D/B/A Village On The Isle to Finance and Refinance Certain Costs Related to the Acquisition, Construction and Equipping of Various Capital Improvements to Existing Continuing Care Retirement Facilities; Providing For Certain Rights of the Owners of Such Bonds and for the Payment Thereof; Making Certain Other Covenants and Agreements in Connection with the Issuance of Such Bonds; Authorizing a Delegated Negotiated Sale of Such Bonds to the Underwriter Referred to Herein; Authorizing the Execution and Delivery of a Bond Trust Indenture, Loan Agreement, Bonds, Purchase Agreement and All Other Related Agreements and Instruments Including, Without Limitation, a Tax Agreement; Authorizing the Distribution of a Preliminary Official Statement and a Final Official Statement in Connection with the Sale of the Bonds; Providing for Other Miscellaneous Matters in Connection with the Foregoing; and Providing for an Effective Date for this Resolution