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2015-047
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2015-047
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Last modified
3/16/2018 4:20:40 PM
Creation date
1/4/2017 12:07:18 PM
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Template:
Resolutions
Resolution Number
2015-047
Approved Date
04/07/2015
Agenda Item Number
12.E.1
Resolution Type
Bonds
Entity Name
Indian River County
Subject
General Obligation Bonds Series 2006
Regions Bank Limited General Obligation Refunding Note Series 2015
Document Relationships
2015-070A
(Cover Page)
Path:
\Official Documents\2010's\2015
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No. R- <br />EXHIBIT A <br />FORM OF SERIES 2015 NOTE <br />4 I RIFE COPY <br />3ERTIEICATION ON LAST PAGE <br />J.R. SMITH. CLERK <br />$20,369,000 <br />UNITED STATES OF AMERICA <br />INIDIAN RIVER COUNTY, FLORIDA <br />LIMITED GENERAL OBLIGATION REFUNDING NOTE, SERIES 2015 <br />Interest Rate Maturity Date Date of Original Issue <br />1.66%* July 1, 2021 April 95 2015 <br />Registered Holder: Regions Capital Advantage, Inc. <br />Principal Amount: TWENTY MILLION THREE HUNDRED SIXTY-NINE THOUSAND <br />DOLLARS <br />Indian River County, Florida (the "County"), for value received, hereby promises to pay <br />to the Registered Holder identified above, or registered assigns as hereinafter provided, on the <br />Maturity Date identified above, the Principal Amount identified above and to pay interest on <br />such Principal Amount identified above or from the most recent interest payment date to which <br />interest has been paid at the Interest Rate per annum identified above on January 1 and July 1 of <br />each year commencing July 1, 2015 until such Principal Amount shall have been paid, except as <br />the provisions hereinafter set forth with respect to redemption prior to maturity may be or <br />become applicable hereto. <br />Payment of the Principal Amount of this Note shall be due as follows: <br />Year <br />Principal <br />(July 1) <br />Amount <br />2015 <br />$320,000 <br />2016 <br />343,000 <br />2017 <br />4,053,000 <br />2018 <br />4,158,000 <br />2019 <br />4,227,000 <br />2020 <br />4,298,000 <br />2021 <br />2,970,000 <br />Interest on this Note shall be calculated on basis of twelve 30 -day months over a year of <br />360 days. The Interest Rate on this Note is subject to adjustment upon certain events as set forth <br />in the Resolution described below. Upon and during the continuance of an Event of Default, this <br />Note shall bear interest at a default rate equal to the lesser of (a) the rate per annum equal to the <br />sum of (i) 6% and (ii) the interest rate otherwise applicable to this Note but for the occurrence of <br />an Event of Default and (b) any statutory maximum interest rate imposed by the State of Florida <br />and applicable to this Note, until all amounts then due hereunder are paid in full. <br />*Subject to adjustment as described herein. A-1 <br />
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