HomeMy WebLinkAbout2136 As Conclusion of Law from the foregoing facts, the Court
finds:
1. The Aet fully authorizes the issuance of not exceeding
$25,OOQ,000 St. Lucie County Pollution Control Revenue ~onds (Florida
Power & Light Company Project), Series A, of the County, for the
purposes and in the manner and form and having the details provided
in Resolutions No. 73-118 and 73-132 and the Indenture, and fully
authorizes the execution and delivery of the Contract.
2. Resalutions No. 73-118 and 73-132 were properly adopted by
the IIoard and are sufficient in forM and in substance to authorize ;
the issuance of the revenue bonds in the manner and form and for £
the ptirposes proposed and to authorize the execution and delivery
of the Indenture and the Contract.
3. Resolutions No. 73-1?8 and 73-I32 are valid resolutions
of the County, and the Indenture and the Contract will be, when
executed and delivered, valid and binding documents and agreements
of the County. `
i ~
; 4. Said $25,000,000 Series A Bonds have been duly authorized
~
! for proper public purposes and in the r.tanner as required by law,
i
and when issued as provided by Resolutions No. 73-118 and 73-132
and the Indenture as authorized by the Act will be valid and binding
obligations of the County in accordance with their terms.
5. The bonds and the interest thereon shall not be deened
to constitute a debt, liability or obligation of St. Lucie County,
or of the State of Florida or of any political subdivision thereof,
~
or a pledge of the faith and credit of St. Lucie County or of the
State of Florida, or of any political subdivision thereof, but
shall be payable solely frorl the revenues provided therefor.
The County is not obligated to pay the bonds or the interest
thereon except frorl the revenues and proceeds pledged therefor ,
and neither the faith and credit nor the taxing power of St. Lucie~
;
County or of th~ State of Florida or ot any political subdivision
thereof is p~edced to the payment of the princi~al of or the
interest on the bonds. '
11
a~K zzz PA~E z13s
-