HomeMy WebLinkAbout2740 1~ ~
3G-0205
~~g Page 1
t
~
DBCI.ARATION OF TRUST
41HEREAS, 'PEtR prnlSTw: n1r1'Rniti'IY THS CITY OF F~RT IBRCg~ .[~RiDA
(herein called the "Local Authority"), a public body corporate and politic
duly created and orgaaized pursuant to aad ia accordance vith the provisioas of
the lawa of the state of Florida ,
aad the Uaited Statea of /~erica (bereia called the "Gover~sent") purauant to
the United States.Housiag Act of 1937, as amended (42 U.S.C. 1401, et seg.) and
the Departoeat of Housing and Urbaa Developoeat Act (5 U.S.C. 624, et aeg.)
entered into a certaia coatract dated as of May 14 , 19 69 ,
(hereia cal2ed the "Annual Contributions Coatract") providing for a loan aad for
aanusl contributioas to be made by the Goveroment to assist the Local Authority
in develaQing, and in achieviag and maintaining the law-rent character of, low- ,
rent housiag project(s); and
NHEREkS, as of the date of the executioa of this Declaratioa of Trust the
Anaual Coatributioas Coatract pravides for the development aad operation by the
Local Authority of certain lowrent housing ia the Citv of
gart ~iar~~ , ~:,.:~t~ af S~. ~ie , ~trt~
of Florida which will provide approximately 105
dwellings; and which low-rent housiug will be l~ova as (Pro3ect No. Fla-41-8
and ~
WHEREAS, the Local Authority (1) proposes to issue snd deliver its Bonds aad
Permaaent NQtes to sid in financiag the Projects from time to time provided for
under the te:ms of the Mnual Cantributions Contract to Which Contract reference
is 6erebq made for definitions of the Bonds, Perananent Notes, and Projects, and
(2) may fraai time to time issue and deliver its obligations (herein called-"Re-
funding Boads")-to refund said Bonds aad Permanent Notes; and
f
i
WHEREAS, each Project and the site or sites thereof will have been coastructed
~ or acquired vith the proceeds of the Bonds and/or advances by the Government on
accouat of the loan provided for ia the Aanual Coatributions Coatract and the Bonds
and Permaneot Notes vill be-secured (1) severally, by pledges of specific amouats
of the anaual coatributions payable to the Local-Authority bq the Government
pursuant to said Coatract; and (2) by a pledge of certain revenues of the Projects
fiasaced by an issue or issues of Boada to the extent aad in the maaner described
in the Aanual Coatributiais Contract and the resolutioas of the Loca1 Authorfty `
authorizing such Bonds aad Permanent Notea: ~
r
NdW, THEREFORE, to assure the Gavernmeat and the holder or holders of the Boads, ~
Q...°fi!'.l~3R$ ~!l~3~ OZ Pe~~aer_*_ ~Otgg~ ~~1 ogrh Lsf tl~o~w~ e€ L~?p jl~~f!?!~!'3Cp 4f Lh~ ~
Local Authority of the caveaants caatained in the Mnual Contributioas Coatract
and the resolutions of the Local Authoritq authorizing the issusnce of the Boads,
Refunding Boads, or Pe:maneat Notes, the Local Authority does hereby ackna+ledge
and declare that it is poesessed of aad~holds in trust for the benefit of the
Goverameat aad said holdere of the Boada, Refunding Bonds, or Permaaeat Notes for
the purposes hereiaafter stated, the folloving described real property situated ia the
Citv of Fort Pierce s ~~ty .
of St. Lucie , State of Florida ,
TO NIT:
Project No. Fla-41-S
. ~ ~~~~?~7
. _1_ i
- -
~ ~