HomeMy WebLinkAbout2135 Said Resolution No. 73-132 amended Resolution No. 73-118 to
re~uce the amount of bonds authorized by said Resolution No.
73-118 to an amount not to exceed $25 million dollars for the
purpose of paying the cost o£ the First Phase Project and which
is to be acquired, constructed and installed in or on or to the
benefit of Unit No. 1 at the CoMpany's St. Lucie Plant.
(n) The County, froM time to tiMe, under the conditions,
limitations and restrictions set forth in the Indenture, may issue
additional series of bonds on a parity with all otlier bonds issued
under the Indenture for the purpose of completinq payment of the
cost of the Project, payin_q all or any part of the cost of
Improvements (as defined in the Indenture) and refunding bands
of any series issued under the Indenture.
(o) The Contract, in accordance with and as required by
the Act, provides for the payment by the Company of the purchase
price for the Project in install~ents sufficient to pay the
principal of and the interest on and the premium, if any, on
tlie bonds as the same shall become due and payable and the
~ Contract f_urther obligates the Company to pay the cost of main-
~ taining, repairing and operating the Project. The Contract
i provides that the purchase price installments shall be paid
~ directly to the Trustee for the account of the County and shall
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$ be deposited to the credit of a special fund created by the
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~ Indenture anc~ designated "St. Lucie County Pollution Control
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k Revenue IIonds (Florida Power & Light Company) Bond Fund" (herein
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~ called the "Bond Fund") which special fund is pledged to.and
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~ chargecl with the payment of the principal of and the interest
~s; on and the premium, if any, on all bonds issued under the Inderture. ;
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The Contract provides that the Cornpany unconditionally guarantees ~
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~ to meet the ohligations to pay the purchase price req~~r~a by the :
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Contract and to perform and observe the other agreer.ients on its
part contained therein.
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