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2006-067
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Last modified
6/21/2017 3:39:40 PM
Creation date
9/30/2015 4:37:34 PM
Metadata
Fields
Template:
Resolutions
Resolution Number
2006-067
Approved Date
05/23/2006
Agenda Item Number
7.G.
Resolution Type
General Obligation Bonds
Entity Name
Series 2006
Subject
General Obligation Bonds Not to Exceed $50 Million
Archived Roll/Disk#
3129
Supplemental fields
SmeadsoftID
1858
Document Relationships
2005-059
(Agenda)
Path:
\Resolutions\2000's\2005
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Section 218.38(1)(b)1, Florida Statutes requires that the County file, within 120 days after <br />delivery of the Series 2006 Bonds, an information statement with the Division of Bond Finance of the <br />State of Florida (the "Division") containing the following information: (a) the name and address of <br />the managing underwriter, if any, connected with the Series 2006 Bonds; (b) the name and address <br />of any attorney or financial consultant who advised the County with respect to the Series 2006 <br />Bonds; and (c) any fee, bonus, or gratuity paid, in connection with the bond issue, by an <br />underwriter or financial consultant to any person not regularly employed or engaged by such <br />underwriter or consultant and (d) any other fee paid by the County with respect to the Series 2006 <br />Bonds, including any fee paid to attorneys or financial consultants. The Successful Bidder will be <br />required to deliver to the County at or prior to the time of delivery of the Series 2006 Bonds, a <br />statement signed by an authorized officer containing the same information mentioned in (a) and (c) <br />above. The Successful Bidder shall also be required, at or prior to the delivery of the Series 2006 <br />Bonds, to furnish the County with such information concerning the initial prices at which a <br />substantial amount of the Series 2006 Bonds of each maturity were sold to the public as the County <br />shall reasonably request. <br />Pursuant to Section 218.385(2) and (3) of the Florida Statutes, as amended, a truth -in - <br />bonding statement will be required from each bidder as to the Series 2006 Bonds as part of their bid <br />in the following form: <br />"Indian River County, Florida, is proposing to issue $50,000,000 original aggregate <br />principal amount of Limited General Obligation Bonds, Series 2006, for the purpose <br />of paying (i) a portion of the costs of the Projects, and (ii) the costs of issuing the <br />Series 2006 Bonds, all as further described in Resolution No. 2006- . The final <br />maturity date of the Series 2006 Bonds is July 1, 2021, and the Series 2006 Bonds are <br />expected to be repaid over a period of fifteen (15) years. At a forecasted average <br />interest rate of % per annum, total interest paid over the life of the Series 2006 <br />Bonds will be $ . The source of repayment or security for this proposal is <br />the County=s ad valorem tax revenues and moneys and investments held in the <br />funds created under the said Resolution. Authorizing the Series 2006 Bonds will <br />result in $ not being available to finance the other capital projects of the <br />County. This truth -in -bonding statement prepared pursuant to Section 218.385(2) <br />and (3) of the Florida Statutes, as amended, is for informationalpurposes only and <br />shall not affect or control the actual terms and conditions of the Series 2006 Bonds." <br />8 <br />
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