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o ® r After consolidating the Jail, Minimum Security Facility and some of the Sheriff's Building expenses, we show a deficit of $2,152,005. The total short -fall will defi- nately be more. In addition to the above mentioned projects the County is looking into construct- ing a Health Facility. Sonny Dean and I are calculating the total cost of the project and will present it to the Honorable Board of County Commissioners at a future meeting. $9,855,000 INDIAN RIVER COUNTY, FLORIDA REFUNDING AND IMPROVEMENT REVENUE BONDS Series 1985 INTRODUCTION This Official Statement, which includes the cover page, sum- mary statement and appendices hereto, provides certain informa- tion relating to the sale by Indian River County, Florida (the "County"), of its $9,855,000 Refunding and Improvement Revenue Bonds, Series 1985 (the "Bonds"). The Bonds are being issued pursuant to Chapters 125 and 279, Florida Statutes, as amended, County Home Rule Ordinance No. 77-19, enacted August 3, 1977, as amended, and other applicable provisions of law (collectively the "Act"); and Indian River County Resolution No. 85-75, adopted July 10, 1985, as amended and supplemented, (the "Resolution"). All summaries herein of documents and agreements and all summaries herein of the Bonds are qualified in their entirety by reference to the aforesaid documents and agreements, copies of which are available for inspection at the office of the County Attorney. The validity of the Bonds has been determined by a Final Judgment of the Circuit Court of the Nineteenth Judicial Circuit in and for Indian River County, Florida, rendered and filed on August 26, 1985. The time for an appeal expired on September 25, 1985. The attached Appendices are integral parts of this Official Statement and must be read together with all of the statements herein contained. THE PROJECTS Courtroom The County has completed the construction of a fourth court- room to be used by the Circuit Court. It is the largest court- room in the court system and was necessary for capital offense cases and condemnation proceedings. The cost of the facility was $175,000. Office Building (Court Function) The County purchased and renovated a building of 6,000 square feet along with a parking lot adjoining the Courthouse at the corner of 21st Street and 15th Avenue. This space is to be used by the State Attorney's Office. The cost of these.facili- ties was $325,000. 34 JUN, 4 1986 BOOK 64 F}U,t6908