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03 - GG 1 <br /> � QG � V11 �iV11 -' <br /> FCT Contract Numbel,07 CT- 76, <br /> FLORIDA COMMUNITIES TRUST <br /> 02 - 059 -FF2 <br /> JNDI..AN RIVER FARMS COASTAL PRESERVE <br /> J/ <br /> GRANT CONTRACT <br /> THIS AGREEMENT is entered into on rt braAry `t' 2003_ the date the last <br /> party executes this Agreement, by and between the FLORIDA COMMUNITIES TRUST (FCT) , <br /> a nonregulatory agency within the State .of Florida Department of Community Affairs , and <br /> INDIAN RIVER COUNTY , local government of the State of Florida (Recipient) . The intent of <br /> this Agreement is to impose terms and conditions on the use of the proceeds of certain bonds , <br /> hereinafter described, and the lands acquired with such proceeds (Project Site) , that are necessary <br /> to ensure compliance with applicable Florida law and federal income tax law and to otherwise <br /> implement provisions of Sections 259 . 105 , 259 . 1051 , and Chapter 380 , Part III, Florida Statutes <br /> (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 and nonprofit <br /> environmental organizations to carry out projects and activities authorized by the Florida <br /> Communities Trust Act ; <br /> WHEREAS , Section 259 . 105 (3 ) (c) , F . S . , of the Florida Forever Act provides for the distribution <br /> of twenty-two percent (22 %) less certain reductions of the net Florida Forever Revenue Bond <br /> proceeds to the Department to provide land acquisition grants to local governments or nonprofit <br /> environmental organizations through the FCT for acquisition of community-based projects , urban <br /> open spaces , parks , greenways , and recreational trail systems to implement local comprehensive <br /> plans ; <br /> WHEREAS , the Bonds are issued as tax- exempt bonds , meaning that the interest on the Bonds is <br /> excluded from the gross income of bondholders for federal income tax purposes ; <br /> WHEREAS , Rule Chapter 9K-7 , Florida Administrative Code (F . A. C . ) , describes the procedures <br /> for evaluation and selection of lands proposed for acquisition using funds allocated to the FCT <br /> through the Department from the Florida Forever Trust Fund; <br /> 02-059-FF2 <br /> 12/ 11 /2002 <br /> Joint Acquisition- <br /> - 1 - <br />