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AI- 5366   4. A. 4.    
Commissioners Court - Regular
Meeting Date: 06/18/2014  
Tax Exempt Financing - South Texas Lighthouse for the Blind
Submitted By: Tyner Little, Commissioners Court Admin
Department: Commissioners Court Admin  

Information
RECOMMENDATION
Discuss and consider adopting a resolution authorizing the County Judge to execute a certificate of approval concerning the issuance of tax-exempt financing to South Texas Lighthouse for the Blind in satisfaction of the requirements contained in Section 147(f) of the Internal Revenue Code of 1986, as amended, for the purposes of financing the construction of a facility located on Agnes Street, Corpus Christi, Texas.
BACKGROUND
The purpose of this request is to obtain approval of Commissioners Court of tax exempt financing for the South Texas Lighthouse for the Blind in an amount not to exceed $3,000,000.  The Lighthouse for the Blind will use the financing to construct a facility on Agnes Street, Corpus Christi. 
DISCUSSION
The financing will not constitute a liability of Nueces County and the County is not responsible for any expenses related to the financing, however, approval by the County is required under the Internal Revenue Code in order for the financinig to go forward.

Budget Information
Information about available funds
Budgeted: Funds Available: Adjustment: Amount Available:
Unbudgeted: Funds NOT Available: Amendment:
Account Code(s) for Available Funds
1:
Fund Transfers

Attachments
Request Letter - Lighthouse
resolution - Lighthouse
Approval of Certificate - Lighthouse
Certificate of Public Hearing - Lighthouse
Publisher's Affidavit-Lighthouse

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