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OFFICIAL STATEMENT
<br />relating to
<br />$8,320,000*
<br />INDIAN RIVER COUNTY, FLORIDA
<br />GENERAL OBLIGATION REFUNDING BONDS, SERIES 2003
<br />INTRODUCTION
<br />The purpose of this Official Statement, which includes the cover page, the Summary Statement,
<br />and the Appendices hereto, is to furnish information with respect to the issuance by Indian River County,
<br />Florida (the "County"), of its General ObligationRefunding Bonds, Series 2003 (the "Bonds"). The Bonds
<br />in the aggregate principal amount of $8,320,000*, are authorized to be issued by ResolutionNo. 92-146
<br />adopted by the Board of County Commissioners of the County (the"Board") on August 18, 1992, as
<br />supplemented by Resolution No. 95-83, adopted by the Board July 11, 1995, as further supplemented
<br />(the "Resolution"). The Resolution authorizes the issuance of not to exceed $26,000,000 aggregate
<br />principal amount of general obligation bonds, to be issued in one or more series, of which the Bonds are
<br />the third series to be issued. The County has previously issued its $15,000,000 Indian River County
<br />General Obligation Bonds, Series 1995 (the. "Refunded Bonds") whichwillbe Outstanding in the aggregate
<br />principal amount of $8,320,000 after giving effect to the July 1, 2003 principal payment, which are being
<br />refunded and redeemed with the proceeds of the Bonds. The County has also previously issued its
<br />$11,000,000 General Obligation Bonds, Series 2001, whichwillbe Outstanding in the aggregate principal
<br />amount of $9,925,000 after giving effect to the July 1, 2003 principal payment and which rank on a parity
<br />with the Bonds (the "Parity Bonds"). See "PARITY BONDS" herein.
<br />Capitalized terms used herein shall have the same meanings as given to them in the Resolution,
<br />unless otherwise defined herein or where the context would clearly indicate otherwise. The references,
<br />excerpts and summaries of all documents referenced herein do not purport to be complete statements of
<br />the provisions of such documents, and reference is made to the originals of all such documents for full and
<br />complete statements of all matters of fact relating to the Bonds, the security for the payment of the Bonds,
<br />and the rights and obligations of owners thereof. Copies of such documents may be obtained from Jeffrey
<br />K. Barton, Clerk of the Circuit Court, 1840 25th Street Vero Beach, Florida 32960, upon payment of
<br />reproduction costs and postage and handling expenses.
<br />The assumptions, estimates, projections and matters ofopinion contained in this Official Statement,
<br />whether or not so expressly stated, are set forth as such and not as matters of fact, and no representation
<br />is made that any of the assumptions or matters of opinion herein are valid or that any projections or
<br />* Preliminary, subject to change.
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