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OFFICIAL STATEMENT
<br />relating to
<br />$50,000,000*
<br />INDIAN RIVER COUNTY, FLORIDA
<br />LIMITED GENERAL OBLIGATION BONDS, SERIES 2006
<br />INTRODUCTION
<br />The purpose of this Official Statement, which includes the cover page, the
<br />Summary Statement, and the Appendices hereto, is to furnish information with respect
<br />to the issuance by Indian River County, Florida (the "County"), of its Limited General
<br />Obligation Bonds, Series 2006 (the "Bonds"). The Bonds in the aggregate principal
<br />amount of $50,000,000*, are authorized to be issued pursuant to Resolution No. 2004-
<br />062 (the "Referendum Resolution), adopted by the Board of County Commissioners (the
<br />"Board") on June 22, 2004, as supplemented by Resolution 2005-059, adopted May 17,
<br />2005 (the "Bond Resolution"), as further supplemented (herein, collectively, the
<br />"Referendum Resolution and the Bond Resolution are hereinafter referred to as the
<br />"Resolution") and by the vote of the electors of the County on November 2, 2004, in
<br />accordance with Chapter 100, Florida Statutes; and the Referendum Resolution (the
<br />"Referendum"). The Referendum Resolution and the Referendum authorize the
<br />issuance of not to exceed $50,000,000 aggregate principal amount of limited general
<br />obligation bonds, to be issued in one or more series, payable from ad valorem taxes not
<br />exceeding %Z mil and having a maturity not exceeding fifteen years. The Bonds are the
<br />first series to be issued under the Resolution and the Referendum. The County has
<br />previously issued its $11,000,000 Indian River County General Obligation Bonds,
<br />Series 2001 (the "2001 Bonds") which are currently Outstanding in the aggregate
<br />principal amount of $8,685,000 and its $7,800,000 Indian River County General
<br />Obligation Bonds, Series 2003 (the "2003 Bonds"), which are currently Outstanding in
<br />the aggregate principal amount of $5,700,000, neither of which issues is subject to an
<br />annual limitation on the millage amount for repayment.
<br />THE BONDS ARE LIMITED OBLIGATIONS OF THE COUNTY. THE
<br />PRINCIPAL OF, REDEMPTION PREMIUM, IF ANY, AND INTEREST ON THE
<br />BONDS ARE PAYABLE FROM AND SECURED BY A LIMITED PLEDGE OF THE
<br />FAITH, CREDIT AND TAXING POWER OF THE COUNTY, PROVIDED THAT THE
<br />AMOUNT OF THE LEVY, IN EACH YEAR SHALL NOT EXCEED ONE HALF OF
<br />* Preliminary, subject to change.
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