1984-040A - Laserfiche WebLink

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A. Indian River County, Florida (the "Issuer"), is authorized by the Act to make and execute financing agreements, contracts, deeds and other instruments necessary or convenient for the purpose of facilitating the financing of certain projects, including machineryl equipment, land, rights in land and other appurtenances and facilities related thereto, to the end that the Issuer may be able to promote the economic develop- ment of the State of Florida (the "State"), increase oppor- tunities for gainful employment and otherwise aid in improving the prosperity and welfare of the State and its inhabitants; and to provide such financing through the issuance of industrial development revenue bonds. B. The acquisition, construction and equipment of an approximatley 40,000 square foot indust-Aal facility for the design, engineering and manufacture of computer systems, sub- systems and peripherals, and other electronic systems, including any necessary utilities, by HETRA Computer and Communications Industries, Inc., a Delaware corporation (the "Borrower"), the owner thereof, to be located at the street address of 10300 County Road 12 (Fellsmere), entirely within the unincorporated area of the Issuer (the "Project"), is appropriate to the needs and circumstances of the coimnunit,r of the Issuer, and the loca- tion of the Project within the jurisdictional territorial limits of the Issuer will make a significant contribution to the econo- mic growth of such community, will provide gainful employment and will serve a public purpose by advancing the economic prosperity and the general welfare of the State and its people. C. Giving due regard to the ratio of the Borrower's current assets to its current liabilities, the net worth and ear- nings trends of the Borrower, coverage of all its fixed charges, the nature of the business involved, its inherent stability and all other factors determinative of the Borrower's capabilities, financial and otherwise, of fulfilling its obligations con- sistently with the purposes of the Act, the Borrower is finan- cially responsible and fully capable and willing to fulfill its obligations under the Loan Agreement, including the obligation to make payments thereunder in the amounts and at the times required pursuant to the terms of the Loan Agreement and the obligation to operate, repair and maintain the Project, at its own expense; and the Borrower is desirous of fully performing all other obliga- tions and responsibilities .imposed upon it pursuant to the provi- sions of the Loan Agreement. D. The Issuer is able to cope satisfactorily with the impact of the Project, and all the necessary public facilities, -2-