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<br />In the opinion of Bond Counsel, the interest on the Bonds is, under existing laws, regulations and judicial decisions, exempt from all
<br />Federal income taxation and the Bonds and the income tbereon are exempt from taxation under the laws of the State of Florida, except as .to
<br />taxes imposed by Cbapter 220, Florida Statutes, on interest, income or profits on debt obligations owned by corporations.
<br />NEW ISSUE Ratings:
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<br />8%l®® Standard & Poor's: A
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<br />Solid Waste Disposal System Revenue Bonds
<br />Series 1977
<br />Dated: September 1, 1977 Due: September 1, as shown below
<br />The Bonds will be issued as coupon bonds in the denomination of $5,000, registrable as to principal only, shall' bear
<br />interest payable initially on March 1, 1978 and semi-annually thereafter on each September 1 and March 1, payable with
<br />respect to both principal and interest at Florida First National Bank of Jacksonville, Jacksonville, Florida and shall mature on
<br />September 1 in the years and amounts as follows:
<br />(Plus. accrued interest)
<br />The Bonds maturing in the years 1980 to 1985, both inclusive, are not redeemable prior to their stated dates of maturity. The Bonds
<br />maturing in the year 1986 and thereafter shall be redeemable prior to their stated dates of maturity, at the option of the County, in whole or in
<br />part, in inverse numerical order if less than all, on September 1, 1985 or on any interest payment date thereafter, at par and accrued interest
<br />plus a premium of 2% if redeemed on September 1, 1985. Such premium shall decrease at the rate of '/a of 1% on each September 1 thereafter,
<br />but shall in no event be less than 1% of the par value of the Bonds.
<br />The Bonds are being issued to finance the cost of construction and acquisition of a landfill site and other facilities for a solid waste
<br />disposal system. The Bonds shall be secured by an irrevocable first lien on and pledge of the net revenues derived from the operation of the
<br />County's solid waste disposal system and shall be additionally secured by an irrevocable first lien on and pledge of the guaranteed entitlement
<br />portion of state revenue sharing trust funds distributable to the County pursuant to Chapter 218, Florida Statutes. The pledge of said net
<br />revenues and guaranteed entitlement is subject to certain conditions set forth herein. The Bonds do not constitute general obligations or
<br />indebtedness of the County within the meaning of any constitutional or statutory provisions or limitations. The ad valorem taxing power of the
<br />County is not pledged for the payment of the Bonds.
<br />The Bonds are offered when, as and if issued and received by the Underwriters, subject to the unqualified approval of legality by
<br />Freeman, Ricbardson,. Watson, Slade, AlcCarthy.& Kelly, P.A., Jacksonville, Florida, Bond Counsel to the County and certain other conditions.
<br />The Bonds in definitive form are expected to be delivered to the Underwriters on or about January 12, 1978.
<br />William L HouAh & Co.
<br />December 21, 1977
<br />JAN 181978 8COK 33 �PnF-'Juj
<br />Coupon
<br />Coupon
<br />Year
<br />Amount
<br />Rate
<br />Yield
<br />Year
<br />Amount
<br />Rate
<br />Yield
<br />1980
<br />$ 75,000
<br />5.30%
<br />4.15%
<br />1988
<br />$125,000
<br />5.30%
<br />5.10%
<br />1981
<br />80,000
<br />5.30
<br />4.30
<br />1989
<br />135,000
<br />5.30
<br />5.15
<br />1982
<br />85,000
<br />5.30
<br />4.45
<br />1990
<br />140,000
<br />5.30
<br />5.20
<br />1983
<br />90,000
<br />5.30
<br />4.60
<br />1991
<br />150,000
<br />5.30
<br />5.25
<br />1984
<br />100,000
<br />5.30
<br />4.70
<br />1992
<br />160,000
<br />5.30
<br />5.30
<br />1985
<br />105,000
<br />5.30
<br />4.80
<br />1993
<br />165,000
<br />5.30
<br />5.35
<br />1986
<br />110,000
<br />5.30
<br />4.90
<br />1994
<br />175,000
<br />5.30
<br />5.40
<br />1987
<br />120,000
<br />5.30
<br />5.00
<br />(Plus. accrued interest)
<br />The Bonds maturing in the years 1980 to 1985, both inclusive, are not redeemable prior to their stated dates of maturity. The Bonds
<br />maturing in the year 1986 and thereafter shall be redeemable prior to their stated dates of maturity, at the option of the County, in whole or in
<br />part, in inverse numerical order if less than all, on September 1, 1985 or on any interest payment date thereafter, at par and accrued interest
<br />plus a premium of 2% if redeemed on September 1, 1985. Such premium shall decrease at the rate of '/a of 1% on each September 1 thereafter,
<br />but shall in no event be less than 1% of the par value of the Bonds.
<br />The Bonds are being issued to finance the cost of construction and acquisition of a landfill site and other facilities for a solid waste
<br />disposal system. The Bonds shall be secured by an irrevocable first lien on and pledge of the net revenues derived from the operation of the
<br />County's solid waste disposal system and shall be additionally secured by an irrevocable first lien on and pledge of the guaranteed entitlement
<br />portion of state revenue sharing trust funds distributable to the County pursuant to Chapter 218, Florida Statutes. The pledge of said net
<br />revenues and guaranteed entitlement is subject to certain conditions set forth herein. The Bonds do not constitute general obligations or
<br />indebtedness of the County within the meaning of any constitutional or statutory provisions or limitations. The ad valorem taxing power of the
<br />County is not pledged for the payment of the Bonds.
<br />The Bonds are offered when, as and if issued and received by the Underwriters, subject to the unqualified approval of legality by
<br />Freeman, Ricbardson,. Watson, Slade, AlcCarthy.& Kelly, P.A., Jacksonville, Florida, Bond Counsel to the County and certain other conditions.
<br />The Bonds in definitive form are expected to be delivered to the Underwriters on or about January 12, 1978.
<br />William L HouAh & Co.
<br />December 21, 1977
<br />JAN 181978 8COK 33 �PnF-'Juj
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