HomeMy WebLinkAbout0162 (cc) The Contract, in accordance with and as required
by the Act, provides for the payment by the Comoany of the
purchase price for the Pro~ect in installments sufficient to
pay the principal of and the interest on and the premium, if
any, on all bonds issued under the Inden~ure as the same
shall become due and payahle and the Contract further obiigates
the Company to pay the cost of maintaining, repairing and
operating the Pro~ect. The Contract provides that ~he
ourchase price installments shall be paid directly to the •
Trustee for the account of the County and shall be deposited
to the credit of a soecial fund created by the Indenture and
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designated "St. Lucie County Pollution Con~rol Revenue.Bonds
{F?orida Power ~ Z.ight Compan~) Bond Fund" (her~in called
the "Bond Fund") which special :und is oled~ed to and charged
with the oayment o° the principal of and the interest on and
the premium, if any, on all bonds issued under the Indenture.
The Contract provides that ~he Compar.y unconditionallq '
~uarantees to pay all a:nounts oayable under the ~ontract and
~he Indentu^e.
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(dd)~Ir. accordance w{th the criteria and ~equ~rements o~' the
Act, the Count;~ deterr~.i~ed ir. sai3 Resolutior~ ~lo. ?3-I~o, and
confir~:~ed in the Ser~es B Bond ~eso~ution, i ts findir.gs and
determina~ions as to ~ne ?ro~e~i, as :o~lo~~rs:
C1) the Proiec* ;~rhieh ~nc~udes ~he Second
?rase Proj ect; Yrili m2ke a sig:~i°icar.t contr~~u~ior.
to ~ne ecenomic gro:at'r, of the ~ounty, *r~; ? 1 provide
~ain_°ul e~nplc;~~:en~ and Wlii serv~ a~ub~~c purpcse
. by adva*~cing ~ne econom~c ~rosrer'_~y and ~::e ~?nera~
~re~ °3»e e~' ~~:e ~~ate oi : iori3a and i.s ~e~~~~;
~ ~ ~ ~;2E' ~i oieC~ { S ~f?i;:c SCiC,~. ~C 3 `~I;:2^C~3? ~ ~
:'?St;4C~8iv1? C;~:'~02'3`v~.r',n rrhiCll ~.S ~;,i~ i~ C2i2G~? a::C~
~r~~l~ng ~o ~'uI°;11 ~~s ~b~~gat~.or.s un~.er ,?~.e Ccn~ract,
inc? ud{ng t::e ob? igation *.o o~~~ ;he pur^Y~~ase price
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800K ~+uti PRGE a.~
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