Laserfiche WebLink
• <br />FCT Contract Number 00 -CT -C7 -99 -9A -A1-055 <br />FLORIDA COMMUNITIES TRUST <br />P9A Award Number 99-055-P9A <br />OSLO RIVERFRONT SOUTH <br />CONCEPTUAL APPROVAL AGREEMENT <br />THIS AGREEMENT is entered into on , the <br />date the last party executes this Agreement, by and between the FLORIDA COMMUNITIES <br />TRUST (FCT), a nonregulatory agency within the State of Florida Department of Community <br />Affairs, and INDIAN RIVER COUNTY (Recipient), a local government of the State of Florida. <br />The intent of this Agreement is to impose terms and conditions on the use of the proceeds of <br />certain bonds, hereinafter described, and the lands acquired with such proceeds (project site), that <br />are necessary to ensure compliance with applicable Florida law and federal income tax law and to <br />otherwise implement provisions of Sections 259.101, 375.045, and Chapter 380, Part III, Florida <br />Statutes (F.S.). <br />WHEREAS, Chapter 380, Part III, F.S., the Florida Communities Trust Act, creates a <br />nonregulatory agency within the Department of Community Affairs (Department) that will assist <br />local governments in bringing local comprehensive plans into compliance and implementing the <br />goals, objectives, and policies of the conservation, recreation and open space, and coastal <br />management elements of local comprehensive plans, or in conserving natural resources and <br />resolving land use conflicts by providing financial assistance to local governments to carry out <br />projects and activities authorized by the Florida Communities Trust Act; <br />WHEREAS, Section 259.101(3)(c) of the Florida Preservation 2000 Act provides for the <br />distribution of ten percent (10%) less certain reductions of the net Preservation 2000 Revenue <br />Bond proceeds to the Department to provide land acquisition grants and loans to local <br />governments through the FCT; <br />WHEREAS, the Governor and Cabinet have annually authorized the sale and issuance of <br />State of Florida Department of Environmental Protection Preservation 2000 Revenue Bonds <br />(Bonds); and Bonds have been annually sold, thereby producing revenues for distribution <br />according to Section 259.101(3)(c), F.S.; <br />WHEREAS, the Bonds are issued as tax-exempt bonds, meaning that the interest on the <br />Bonds is excluded from the gross income of bondholders for federal income tax purposes; <br />Funded/Joint Acquisition/99-055-P9A <br />11/30/1999 <br />FINAL <br />