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approve certain terms and provisions with respect to the Bonds and <br />the sale thereof; <br />WHEREAS, the County desires to appoint a Paying Agent <br />and Bond Registrar for the Bonds, to ratify the distribution of a <br />Preliminary Official Statement and to authorize the execution and <br />distribution of an Official Statement therefor; and <br />WHEREAS, William R. Hough & Co., (the "Purchaser"), has <br />offered to purchase the Bonds on the terms and conditions <br />hereinafter described. <br />NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY <br />COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA: <br />SECTION 1. The Bonds shall be in the aggregate <br />principal amount of $6,015,000, shall be dated as of August 1, <br />1991, shall be in fully registered form, shall be in denominations <br />of $5,000 or any integral multiple thereof, shall bear interest <br />payable semiannually on March 1 and September 1 of each year, <br />commencing March 1, 1992, until the principal amount thereof is <br />paid, by check mailed by the Paying Agent to the Registered Owner <br />thereof at his address as the same appear on the registration <br />books kept by the Bond Registrar on behalf of the County at 5:00 <br />p.m. local time at the location of the Bond Registrar on the <br />fifteenth (15th) day of the month immediately preceding the <br />applicable interest payment date, at the interest rates per annum <br />set forth in the Bond Purchase Agreement hereinafter referred to, <br />shall mature on September 1 of the years and in the principal <br />amounts set forth in the Bond Purchase Agreement and shall be <br />2 <br />