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INSTALLMENT PURCHASE TRUST AGREEt~lENT
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 t
(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 the "Trustee"):
jtTITNESSETH :
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 economy of the State of Florida ~
and to i.mprove living conditions and otherwise contribute ~
to the welfare of the State; and ~
~
~ E
WHEREAS, to accomplish such purposes the Issuer proposes }
to cause the acquisition, construction and equipping of a capital °
project consisting ~of equipment, machinery and related facilities
for use as an air and water pollution control facility which
is vital and necessary in the processing and handling of citrus
products at a citrus processing plant (hereinafter called
the "Project") a further description of which is contained
in Exhibit D to the Agreement, 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 Issuer's rights, title and interest
in the Project to the Company; and ~i
~ WHEREAS, THE Project, as designed, is in furtherance
k of the purpose of abating or controlling air and water pollutioi.
and a certificate to that effect has been, or prior to the
issuance of the Bonds will be, obtained from the Department
of Pollution Control of the State of Florida; and
WHEI2EAS, 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 P~llution Control Revenue Bonds hereinafter described
(hereinafter called the "Bonds") pursuant to the Act and ~
a resolution of the Issuer duly adopted on sEq,~~,9~ y/3. /S`7_3.
1973 (hereinafter called the "Resolution") wiTic~is y re rence
made a part hereof, which issue and sale will induce the
Company to purchase the Project as a pollution control facility
in St. Lucie County, Florida; and
WH~REAS, 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 times and in the manner hereinafter
provided; and
.
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