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EXHIBIT B <br />DISCLOSURE STATEMENT AND TRUTH -IN -BONDING STATEMENT <br />[BPA Date] <br />Board of County Commissioners <br />Indian River County <br />Vero Beach, Florida <br />Re: $[Bond Amount] Indian River County, Florida, <br />General Obligation Refunding Bonds, Series 2003 <br />Dear Commission Members: <br />In connection with the proposed issuance by Indian River County, Florida (the "County") of <br />$[Bond Amount] General Obligation Refunding Bonds, Series 2003 (the "Series 2003 Bonds"), William <br />R Hough & Co. (the "Underwriter") is underwriting a public offering of the Series 2003 Bonds. <br />The purpose of the following sevenparagraphs of this letter is to furnish, pursuant to the provisions <br />of Section 218.385(6), Florida Statutes, as amended, certain information in respect of the arrangements <br />contemplated for the purchase and sale of the Series 2003 Bonds, as follows: <br />(a) The nature and estimated amount of expenses to be incurred by the Underwriter in <br />connectionwiththe purchase and re -offering of the Series 2003 Bonds are set forth in Schedule I attached <br />hereto. <br />(b) There are no "finders," as defined in Section 218.386, Florida Statutes, as amended, <br />connected with the sale and purchase of the Series 2003 Bonds. <br />(c) The combined underwriting spread, the difference between the price at which the Series <br />2003 Bonds will be initially offered to the public by the Underwriter and the price to be paid to the County <br />for the Series 2003 Bonds, exclusive of net original issue premium and accrued interest, will be <br />approximately $ per $1,000 of Series 2003 Bonds issued. The underwriting spread for the Series 2003 <br />Bonds will be approximately %. <br />B-1 <br />