Holland & Knight I
200 South Orange Avenue. Suite 2600
Orlando. FL 32801-3461
Leighton D. Yates, Jr.
Direct Dial: 407-244-1126
Honorable Richard T. Crotty
Orange County Mayor
Orange County Administration Center
201 South Rosalind Avenue, 5th Floor
Orlando, FL 32801
October 7, 2008 Board Agenda Item/Request for Approval - Not to
exceed $65,000,000 of Orange County Industrial Development
Authority Industrial Development Revenue Bonds (Roman Catholic
Diocese of Orlando, Florida Projects) Series 2008
Dear Mayor Crotty:
The Orange County Industrial Development Authority (the "Authority")
respectfully requests that the Orange County Board of County Commissioners (the
"Board") approve the issuance of the above-referenced Bonds by the Authority in an
aggregate principal amount not to exceed $65,000,000 (the "Bonds") at the Board's
October 7, 2008 meeting.
The Authority adopted Resolution No. 2008-02 (the
"Authority's Resolution") on September 16, 2008 after conducting an advertised public
hearing with respect to the Bonds.
As requested in the Application for Industrial Development Revenue Bond
Financing to finance the Project which has been submitted to the Authority (the "Bond
Application"), the proceeds from the sale of the Bonds will be loaned to Thomas G.
Wenski, Bishop of the Roman Catholic Diocese of Orlando, Florida, a corporation sole,
and his successors in office (the "Diocese"), (which is a not-for-profit corporation
existing under the common law of the State of Florida and is exempt from taxation under
Section 501(c)(3) of the Internal Revenue Code), for the purpose of financing and/or
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