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SEP 2 21982 e�fl� <br />- RESOLUTION NO:i g 82-29-1: <br />A RESOLUTION AWARDING A $5,825,900 WATER <br />REVENUE BOND, SERIES 1980 (SOUTH COUNTY <br />WATER SYSTEM), OF INDIAN RIVER COUNTY, <br />FLORIDA, TO FARMERS HOME ADMINISTRATION <br />AT NEGOTI4TED SALE; AND PROVIDING AN <br />EFFECTIVE DATE. <br />BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF <br />INDIAN RIVER COUNTY, FLORIDA (the "Issuer"), as follows: <br />SECTION 1, AUTHORITY <br />is adopted pursuant to Ch. 159, <br />applicable provisions of law. <br />SECTION 2t FINDINGS. <br />mined and declared that: <br />FOR RESOLUTION. This resolution <br />Fla. Stat. (1981), and other <br />r <br />_It is hereby ascertained, deter - <br />A. On June 25, 1980, the Board of County Commissioners <br />of the Issuer duly adopted a resolution (the "Resolution") <br />authorizing the issuance of not exceeding $5,825,900 aggregate <br />principal amount of Water Revenue Bonds, Series 1980 (South <br />County Water System), of the Issuer (the "Bonds"), for the pur- <br />pose expressed therein. <br />B. Due to the characteristics of the Bonds and pre- <br />vailing municipal bond market conditions, it is necessary, <br />desirable and in the best public -interest that the Bonds be sold <br />at negotiated sale to the U. S. Department of Agriculture, <br />Farmers Home Admin$stration (the "Government"), at the price of <br />par, bearing interest at the rate of 5% per annum, since such <br />terms are substantially more favorable than the Issuer could <br />reasonably expect to receive if the Bonds were sold at public <br />sale. <br />SECTION 3, AWARD OF BONDS. The Bonds are hereby <br />awarded and sold to the Government at the price of par, bearing <br />interest at the rate of 5% per annum, and shall be issued in the <br />form of a single, fully -registered bond,'payable in installments, <br />as provided in the Resolution. - <br />SECTION 4, EFFECTIVE DATE. This resolution shall take <br />effect immediately upon its adoption. <br />The foregoing resolution was offered by Commissioner <br />Lyons who moved its adoption. The motion was <br />_seconded by CoMmissioner Bird and, upon being put to a <br />vote, the vote was as follows: <br />Chairman Don C. Scurlock, Jr. Aye. <br />Vice -Chairman A. Grover Fletcher Nay <br />Commissioner Patrick B. Lyons Aye <br />Commissioner William C. Wodtke, Jr. Aye <br />Commissioner Dick Bird Aye <br />The Chairman thereupon declared the resolution duly <br />passed and adopted this 22nd day of September, 1982. <br />Attest: p <br />FRLDA WRIGHT, ClVk <br />APPROVED -, TO <br />AND LEGA SUS' <br />B <br />ty Attor y _ <br />BOARD OF COUNTY COMMISSIONERS <br />OF INDIAN RIVER COUNTY, FLORIDA <br />,By G <br />DON C. SCUR CK, JR. <br />Chairman I <br />70 <br />