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RESOLUTION NO. 2006- 067 A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, SUPPLEMENTING AND AMENDING RESOLUTION NO. 2005-059 PROVIDING FOR THE SALE OF NOT TO EXCEED $50,000,000 LIMITED GENERAL OBLIGATION BONDS OF INDIAN RIVER COUNTY, FLORIDA; FIXING REDEMPTION PROVISIONS AND SERIES DESIGNATION FOR THE BONDS; SETTING FORTH THE FORM OF THE NOTICE OF BOND SALE AND SUMMARY NOTICE OF BOND SALE RELATING TO THE SALE OF SUCH BONDS; DIRECTING PUBLICATION OF THE SUMMARY NOTICE OF SALE RELATING TO SUCH BONDS; PRO- VIDING FOR THE OPENING OF BIDS RELATING TO THE SALE OF THE BONDS; SETTING FORTH THE OFFICIAL NOTICE OF SALE AND BID FORMS; PROVIDING THAT SUCH BONDS SHALL BE ISSUED IN FULL BOOK ENTRY FORM; APPROVING THE FORM OF A PRELIMINARY OFFICIAL STATEMENT; COVENANTING TO PROVIDE CONTINUING DISCLOSURE; AUTHORIZING THE SELECTION OF A REGISTRAR AND PAYING AGENT; AUTHORIZING MUNICIPAL BOND INSURANCE; PROVIDING CERTAIN OTHER MATTERS IN CONNECTION THEREWITH; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, on May 17, 2005, the Board of County Commissioners of Indian River County, Florida (the "County" or the "Issuer.") adopted Resolution No. 2005-059, (the "Authorizing Resolution") to provide for the issuance of not to exceed $50,000,000 in aggregate principal amount of Indian River County General Obligation Bonds (the "Bonds") payable from the County's ad valorem taxes without limit on all taxable property in the County as provided in the Authorizing Resolution; provided, however, that the Bonds shall be structured in such a manner that at the time of issuance of any series thereof, the millage rate required to make the maximum annual payment of the principal of and interest on the Bonds shall not exceed 1/2 mil of the then assessed value of all lands situated in the County subject to ad valorem taxation; and WHEREAS, the Authorizing Resolution must be amended to correct the scope of the limitation on the County's ability to levy ad valorem taxes for the debt service on the Bonds; and WHEREAS, it is in the best interest of the County to provide for the current public sale of not to exceed $50,000,000 of such Bonds;