HomeMy WebLinkAbout2132 security for the performance by the Company of its obligations
under the Contract, a mortgage on the Project, which mortgage as
so granted is subject to the First Mortgage Liens and equal to,
but not superior to, the Debenture Liens (as defined in the
Contract) all as set forth in the Contract, which Contract
,and mortgage are adequate within the meaning of the Act for
the security of the bonds, all for the purpose of fostering the
industrial and business development and improving living conditions
in St. Lucie County, Florida, and otherwise contributing to the
welfare of the State of Florida and its inhabitants through
assisting the Company in protectinq the environrient of the State
froM pollution by waste emissions in compliance with the regulations
and standards of the Department of Pollution Control of the State
of Florida and of the U.S. AtoMic Energy Commission.
(j) In accordance with the criteria and requireMents of
the Act and in compliance therewith, the County has further
detern7ined that :
(i) the Project will make a significant contribution
~ to the economic growth of the County, will provide gainful
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; employment and will serve a public purpose of advancing
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~ the economic prosperity and the general welfare of the
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s State of Florida and its people,
~ (ii) the Project is being sold to a financially
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~ responsible corporation which is fully capable and
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~ willing to fulfill its obligations under the Contract,
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~ including the obligation to pay the purchase price in _
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; installments in the amounts and at the times required, -
~ the obligation to operate, repair and maintain the Project ~
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=4 at its own exnense and such other obligations and .
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_ responsibilities as are imposed under the Contract,
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(iii) the County will be able to cope satisfactorily -
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with the impact of the Project and will be able to provide,
or cause to be provided when needed, the public facilities,
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