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V D (iuestion 1. "unit ca local ynvertrtr,� tetra" (clef. ltt.c. 218.369j is re:stanytsililej(it Me rrctluisi,trrarr conslat-Orr matragement or Weradonrf the fgcility for a retained rtfig trarfaUw + fray c i.re p ltralr2f (tile to the ly1V_;erty on which rhe facility or a relamerl.rlamW framing franc hi.s i. oc + Indian River County is a political subdivision of the State of Florida whose boundaries are set forth in Section 7.31,1-lorida Statutes, and as such is a unit of local government as defined in Section 219.369, Ftorida Statutes. In accordance with the Memorandum (see: Tab A) and as set forth in the + Real Estate Contract (see: Tab B), Indian River County (the "County') has agreed to acquire the existing spring training facility complex located in Indian River County consisting of approximately 64 acres of land (the "Land") on which is constructed Holman Stadium, an eighty-nine unit player + housing facility, conference center, clubhouse, baseball practice fields, and other related baseball trairting facilities generally known as "Dodgertown". The actual acquisition of the Land will occur in conjunction with the issuance of revenue bonds by the County to finance the acquisition of Dodgertown. Assuming the receipt of certification of Dodgertown as a "retained spring training franchise facility' by January 1, 2001, the County anticipates that its bonds will be issued and Dodgertown acquired by March 31, 200:. Following; such acquisition, the County will hold the fee simple title to the Land and all improvements thereon, and will thereafter lease the Land and the improvements constituting Dodgertown to the Dodgers in accordance with the Facility Lease (see: Tab D). As such, the County satisfies the first requirement for certification of Dodgertown as a "retained spring training franchise facility". Following the acquisition of Dodgertown and the lease thereof to the Dodgers pursuant to the Facility Lease, the Dodgers have agreed to oversee the renovation and construction of improvements to Dodgertown, and to operate, manage and maintain Dodgertown for the term of the Facility Lease. In order to finance the costs of acquiring and improving Dodgertown, the County will issue its Bonds as revenue bonds in a principal amount sufficient to provide $17,000,000 of net Bond proceeds. These net proceeds will be allocated $10,000,000 to the costs of acquisition of Dodgertown, and $7,000,000 to the costs of the improvements. The County will pledge to the repayment of the Bonds (i) the fourth cent of the County's tourist development tax, (ii) the County's half -cent sales tax revenues, and (iii) the payments to be received from the State of Florida once Dodgertown is certified as a "retained sprint; training franchise facility". In addition, the County will fund a Capital Reserve Account for future repair and replacement costs of Dodgertown in the amount of $2,000,000, utilizing available funds on hand at the County as well as funds provided by the City of Vero Beach, Florida (the "City") under the Interlocal Agreement. (See: Tab Q. I-1