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OFFICIAL NOTICE OF BOND SALE <br />$50,000,000 <br />INDIAN RIVER COUNTY, FLORIDA <br />LIMITED GENERAL OBLIGATION BONDS, SERIES 2006 <br />NOTICE IS HEREBY GIVEN that electronic (as explained below) proposals will be received <br />electronically via PARITY in the manner described below, until 11:00 a.m., Eastern Standard Time, <br />on. , 2006. <br />Bids must be submitted electronically via PARITY in accordance with this Notice of Bond <br />Sale, until 11:00 a.m., Eastern Daylight Time, but no bid will be received after the time for receiving <br />bids specified above. To the extent any instructions or directions set forth in PARITY conflict with <br />this Notice of Bond Sale, the terms of this Notice of Bond Sale shall control. For further information <br />about PARITY, potential bidders may contact the financial advisor to the County, First Southwest <br />Company, 20 N. Orange Avenue, Suite 1209, Orlando, Florida 32801, Attention: John White, <br />telephone (407) 426-9611, or Dalcomp at 395 Hudson Street, New York, NY 10014, telephone (212) <br />806-8304. In the event of a malfunction in the electronic bidding process, the bid date will <br />automatically change to the next business day as confirmed in a communication through Thompson <br />Municipal Market Monitor (TM3). <br />Form of Series 2006 Bonds <br />The Series 2006 Bonds will be issued in book entry only form, without coupons, in <br />denominations of $5,000 or any integral multiples thereof, and shall be dated May 1, 2006. Principal <br />of the Series 2006 Bonds shall be paid to the registered owners at the designated corporate trust <br />office of J.P. Morgan Trust Company, N.A., Jacksonville, Florida (the "Paying Agent" and <br />"Registrar"), upon presentment and surrender of the Series 2006 Bonds. Interest on the Series 2006 <br />Bonds shall be paid to the registered owners as shown on the registration books maintained by the <br />Registrar, by check or draft mailed to each such owner's address as shown on the registration books <br />maintained by the Registrar as of the date fifteen (15) days prior to each interest payment date. <br />Interest will be payable each January 1 and July 1, commencing January 1, 2007. Interest will be <br />calculated on the basis of a 360 -day year of twelve 30 -day months. For so long as The Depository <br />Trust Company, New York, New York, or its nominee, Cede & Co. (collectively, "DTC") is the <br />registered owner of the Series 2006 Bonds, payments of principal of, redemption premium, if any, <br />and interest on the Series 2006 Bonds will be made directly to DTC. Disbursements of such <br />payments to the DTC participants is the responsibility of DTC and further disbursement of such <br />payments from the DTC participants to the beneficial owners of the Series 2006 Bonds is the <br />responsibility of the DTC participants. <br />Initially one bond will be issued for each maturity of the Series 2006 Bonds in the aggregate <br />principal amount of each such maturity and registered in the name of DTC. DTC, an automated <br />clearing house for securities transactions, will act as securities depository for the Series 2006 Bonds. <br />