HomeMy WebLinkAbout0003 1:9
INSTALLAlENT PURCHASE TRUST AGREEMENT
THIS AGREEMENT, made as of the first day of December,
1972, by and between St. Lucie County, Florida, a political
subdivision of the State oF Florida (hereinafter called the
"Issuer"), TreeSweet Products Co., a corporation organized
under and existing by virtue of the laws of the State of
California and authorized to do business in the State of Florida
(hereinafter called the "Company"), and Barnett Bank of
Jacksonville, National Association, a national banking.organization
having its principal office in the City of Jacksonville,
Florida (hereinafter called th~ "Trustee"):
WITNESSETH:
WHEREAS, the Issuer is authorized and empowered by the
provisions of Chapter 159, Part II, Florida Statutes (hereinafter ~
called the "ACt"), to enter into transactions contemplated by
this Agreement and to carry out its obligations hereunder in
~ order to promote industrial development of the State of Florida
and develop and maintain trade by inducing manufacturing and
~_p commercial enterprises to locate and remain in Florida, and thus
7"'utilize and employ the manpower, agricultural products and
~ ~ natural resources of the State; and
WHEREAS, to accomplish such purposes the Issuer proposes
to cause the acquisition, construction and equipping of an
~ addition consisting of buildings, improvements, equipment,
machinery and related facilities to increase the efficiency
and industrial capacity of a citrus processing plant (hereinafter
called the "Project") such Project to be located at the Company's
citrus processing plant in St. Lucie County, Florida, and further,
~ ~ to accomplish such purposes the Issuer proposes to sell the
~l Issuer's rights, title and interest in the Project to the
Company; and
~
ti
WHEREAS, the Issuer in order to provide funds to pay the
~~~cost of the acquisition and construction of the Project and for
incidental and related costs, will issue and sell its Industrial
~L 1~ Development Revenue Bonds hereinafter described (hereinafter
a called the "Bonds") pursuant to the Act nd a resolution of the
~ Issuer duly adopted on , 197 3 (hereinafter
called the "Resolution" which is by reference made a part hereof,
`1 0.~ which issue and-sale will induce the Company to purchase the
Project as an industrial enterprise in St. Lucie County, Florida;
I~i . and
~ ~
;
i ' WHEREAS, the principal of and interest on the Bonds shall
be payable solely from the proceeds to be derived from such sale
~ of the Issuer's rights, title and interest in the Project to
~ the Company, as the installments upon the purchase price are
received at the ti.mes and in the manner hereinafter provided;
and
WHEREAS, the Act permits and the parties intend that the
Project be financed by the Issuer as provided in the Act and
' be constructed by the Company as independent contractor of
the Issuer on the site of the Project set forth in Exhibit A
; hereto, which site has been or, prior to the issuance of the
Bonds will be, mortgaged to the Issuer (hereinafter called the
i "Mortgaged Property"); and
i
i .
~
; r e~~~ ~ _p'~
~ ~
~
- - - - _
_ _ Y _
, : , ._F_
~ ~
_ ,