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$18,000,000' INDIAN RIVER COUNTY,FLORIDA REVENUE BONDS (SPRING TRAINING FACILITY) SERIES 2001 INTRODUCTION This Official Statement, which includes the cover page and appendices hereto, provides certain information relating to the sale by Indian River County, Florida (the "County"), of its $18,000,000* Revenue Bonds(Spring Training Facility),Series 2001(the"Series 2001 Bonds"). The Series 2001 Bonds are being issued pursuant to Chapter 125,Florida Statutes, as amended, County Home Rule Ordinance No. 95-16,enacted July 18, 1995,as amended,and other applicable provisions of law(collectively the "Act"), and Indian River County Resolution No. 2001-[ ], adopted August , 2001, as amended and supplemented(the "Resolution"). The Series 2001 Bonds are limited obligations of Indian River County, Florida, payable by the County from and secured by alien upon and pledge of the Pledged Revenues (as described herein) including amounts on deposit in the funds and accounts established under the Resolution(other than the Rebate Fund), all as described herein. Neitherthe County,the State of Florida nor any political subdivision thereof has pledged its faith or credit or taxing power to the payment of the Series 2001 Bonds. No holder of the Series 2001 Bonds shall ever have the right to compel the exercise of any ad valorem taxing power of the County or taxation in any form of any real property therein to pay the Series 2001 Bonds or the interest due thereon nor be entitled to payment of the Series 2001 Bonds from any funds of the County except as described herein. The references,excerpts and summaries of all documents referred to herein do not purport to be complete statements of the provisions of such documents, and are made subject to all of the detailed provisions of such documents,to which reference is directed for full and complete statements of all matters relating to the Resolution,the Series 2001 Bonds,the security for the payment ofthe Series 2001 Bonds and rights and obligations ofthe holders ofthe Series 2001 Bonds. Capitalized terms used but not defined herein have the same meaning as in the Resolution unless the context would indicate otherwise. A copy of the Resolution is attached hereto as Appendix C. Preliminary, subject to change.