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M.G. Lewis also proposed to use the discount factor of 2.34% for under- <br />writing, expenses and discount on this transaction. The 2.34% factor is <br />more favorable than we obtained when we issued the original bonds in <br />1980. (At that time the issue was 2.48%.) <br />RECOMMENDATION <br />It is my recommendation that the Board of County Commissioners accept the <br />purchase offer of M.G. Lewis. <br />$9,830,000* <br />INDIAN RIVER COUNTY, FLORIDA <br />REFUNDING AND IMPROVEMENT REVENUE BONDS <br />SERIES 1985 <br />Dated: <br />November 1, 1985 <br />Due: September 1, <br />as shown below <br />PRINCIPAL <br />INTEREST <br />EQUIVALENT - <br />DUE <br />AMOUNT* <br />RATE <br />PRICE <br />YIELD <br />1986 <br />$ 200,000 <br />5.50% <br />100% <br />5.50% <br />1987 <br />235,000 <br />6.00 <br />100 <br />6.00 <br />1988 <br />250,000 <br />6.375 <br />100 <br />6.375 <br />1989 <br />265,000 <br />6.875 <br />100 <br />6.875 <br />1990- <br />285,000 <br />7.20 <br />100 <br />7;20 <br />1991 <br />305,000 <br />7.40 <br />100 <br />7.40 <br />1992 <br />330,000 <br />7.625 <br />100 <br />7.625 - <br />1993 <br />350,000 <br />7..875 <br />100 <br />7;875 <br />1994 <br />385,000 <br />8.125 <br />100 <br />8:125 <br />1995 <br />410,000 <br />8.375 <br />100 <br />8.375 <br />1996 <br />450,000 <br />8.625 <br />100 <br />8.625 <br />1997 <br />485,000 <br />8.75 <br />100 <br />8.75 <br />2000 <br />1,735,000 <br />9.00 <br />99 <br />9.121 <br />2002 <br />1,440,000 <br />9.125 <br />99h <br />9.181 <br />2005 <br />2,705,000 <br />9.125 <br />98h <br />9.289 <br />*Preliminary, subject to final numbers. <br />Al a <br />19 <br />Boos 62 ME 488 <br />