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40 <br />40 <br />Q, <br />This document prepared by; <br />Ann J. Wild <br />Florida Communities Trust <br />Department of Community Affairs <br />2555 Shumard oak Blvd. <br />Tallahassee, FL 32399 <br />FLORIDA COMMUNITIES TRUST <br />pBA AWARD# 98-058-P8A <br />FCT Contract# <br />GRANT AWARD AGREEMENT <br />THIS AGREEMENT is entered into this 2Aday of,56g A,1 r -z—, <br />2001, by and between the FLORIDA COMMUNITIES TRUST ("FCT"), a <br />nonregulatory agency within the State of Florida Department of <br />Community Affairs, and INDIAN RIVER COUNTY, a political <br />subdivision of the State of Florida ("FCT Recipient"), in order <br />to impose terms, conditions, and restrictions on the use of the <br />proceeds of certain bonds, hereinafter described, and the lands <br />acquired: with such proceeds and as described in Exhibit "A" <br />attached hereto and made a part hereof ("Project Site"), as shall <br />be necessary to ensure compliance with applicable Florida Law and <br />federal income tax law and to otherwise implement provisions of <br />Chapters 253, 259, and 380, Florida Statutes. <br />WHEREAS, Part III Chapter 380, Florida Statutes, the Florida <br />Communities Trust Act, creates a nonregulatory agency within the <br />Department of Community Affairs, which will assist local <br />governments in bringing into compliance and implementing the <br />conservation, recreation and open space, and coastal elements of <br />their comprehensive plans and in otherwise conserving natural <br />resources and resolving land use conflicts by providing financial. <br />assistance to local governments to carry out projects and <br />activities authorized by the Florida Communities Trust Act; <br />WHEREAS, Section 1 of the Florida preservation 2000 Act <br />provides for the distribution of ten percent (10%) of the net <br />Preservation 2000 Revenue Bond proceeds to the Department of <br />Community Affair's to provide land acquisition grants and loans to <br />local governments through the FCT; <br />WHEREAS, the Governor and Cabinet authorized the sale and <br />issuance of State of Florida Department of Natural Resources <br />Preservation 2000 Revenue Bonds ("Bonds"); <br />WHEREAS, the Bonds were issued as tax-exempt bonds, meaning <br />that the interest on the Bonds is excluded from the gross income <br />of Bondholders for federal income tax purposes; <br />GAA/98-058-P8A <br />01/.') 1/ 01 <br />