1991-080 - Laserfiche WebLink

Home Browse Search

'/fAdit A le IUO, 7, -50 $6,015,000 INDIAN RIVER COUNTY, FLORIDA, RECREATIONAL REVENUE BONDS, SERIES 1991 BOND PURCHASE AGREEMENT Board of County Commissioners of Indian River County 1840 25th Street Vero Beach, Florida 32960 Ladies and Gentlemen: The undersigned, WILLIAM R. HOUGH & CO. (the "Underwriter"), offers to enter into this Bond Purchase Agreement with you, the Board of County Commissioners of Indian River County, Florida (the "Issuer"), which upon the Issuer's acceptance hereof will be binding upon the Issuer and the Underwriter. This offer is made subject to the written acceptance of this Bond Purchase Agreement by the Issuer and the delivery of such acceptance to the Underwriter on or prior to midnight on July 23, 1991, the date of this Bond Purchase Agreement. 1. Upon the terms and conditions and upon the basis of the representations and warranties hereinafter set forth, the Underwriter hereby agrees to purchase from the Issuer, and the Issuer hereby agrees to sell to the Underwriter, for reoffering to the public all (but not less than all) of $6,015,000 aggregate principal amount of the Issuer's Recreational Revenue Bonds, Series 1991 (the "Bonds"). The Bonds will bear interest at the rates and mature and be subject to redemption at the times and in the principal amounts set forth in the Term Sheet attached as Exhibit "A" hereto. The purchase price of the Bonds shall be $5,877,154.05 (the aggregate principal amount less underwriter's discount of $72,180 and original issue discount of $6.,665.95), plus accrued interest in the amount of $22,060.49 from August 1, 1991, to the Closing Date (as defined herein). 2. The Bonds shall be as described in and shall be ise11 d pursuant to the general bond resolution adopted by the Issuer on July 17, 1985, as amended, and the resolutions amending and supplementing the above -referenced general bond resolution adopted by the Issuer on June 18, 1991 and July 23, 1991 (collectively, the "Resolution"). The Bonds will be issued under, pursuant to and in full compliance with Chapter 125, Florida Statutes (1989) and other applicable provisions of Florida law, Indian River County Ordinance No. 77-19 (collectively, the "Act"), and this Bond Purchase Agreement. The Bonds will be issued for the following purposes: (i) constructing an eighteen hole addition to the Issuer's Sandridge