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$6,0$$,000X1 INDIAN RIVER COUNTY FLORIDA RECREATIONAL REVENUE BONDS, Series 1991 INTRODUCTION This Official Statement, which includes the cover page and appendices hereto, provides certain information relating to the sale by Indian River County, Florida (the "Issuer" or the "County") , of its $6,025,000 Recreational Revenue Bonds, Series 1991 (the "Series 1991 Bonds"). The Series 1991 Bonds are being issued pursuant to Chapter 125, Florida Statutes, 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. 85-78, adopted July 17, 1985, as amended and supplemented (the "Resolution"). All summaries herein of documents and agreements and all summaries herein of the Series 1991 Bonds are qualified in their entirety by reference to the aforesaid documents, copies of which are available for inspection at the office of the County Attorney. The validity of the Series 1991 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 on July 17, 1991. The time for an appeal will expire on August 16, 1991. The Series 1991 Bonds will not be issued if an appeal is pending on the proposed closing date. The references, excerpts and summaries of all documents referred to herein do not purport to be complete statements of the provisions of such documents, and are made subject to all of the detailed provisions of such documents, to which reference is directed for full and complete statements of all matters relating to the Resolution, the Series 1991 Bonds, the security for the payment of the Series 1991 Bonds and rights and obligations of the holders of the Series 1991 Bonds. Capitalized terms used but not defined herein have the same meaning as in the Resolution unless the context would clearly indicate otherwise. *--pr+ei axy :_subject ~ to- change . 1