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INDIAN RIVER COUNTY, FLORIDA <br />RESOLUTION NO. 91 - 151 <br />A RESOLUTION AUTHORIZING THE EXECUTION AND DELIVERY OF <br />A BOND PURCHASE AGREEMENT FOR THE SALE AND AWARD OF <br />$9,205,000 AGGREGATE PRINCIPAL AMOUNT OF WATER AND SEWER <br />REVENUE BONDS, SERIES 1991, OF INDIAN RIVER COUNTY, <br />FLORIDA, AT PRIVATE SALE BY NEGOTIATION, TO THE <br />PURCHASERS THEREOF; AUTHORIZING AND APPROVING CERTAIN <br />TERMS OF SAID BONDS; RATIFYING THE DISTRIBUTION OF A <br />PRELIMINARY OFFICIAL STATEMENT; AUTHORIZING THE <br />EXECUTION AND DISTRIBUTION OF AN OFFICIAL STATEMENT IN <br />CONNECTION WITH THE MARKETING OF SAID BONDS; AUTHORIZING <br />OTHER APPROPRIATE AND NECESSARY ACTIONS IN CONNECTION <br />WITH THE ISSUANCE AND DELIVERY OF SAID BONDS; APPOINTING <br />A PAYING AGENT AND BOND REGISTRAR FOR SAID BONDS; AND <br />SPECIFYING AN EFFECTIVE DATE HEREOF. <br />WHEREAS, the Board of County Commissioners of Indian River County, <br />Florida (the "Board" and the "County", respectively), by Resolution No. 91-81, <br />duly adopted on July 23, 1991, heretofore authorized the issuance of Water and <br />Sewer Revenue Bonds, Series 1991, of the County in an aggregate principal amount <br />not to exceed $11,175,000 (the "Bonds"); and <br />WHEREAS, the County deems it to be in its long term best interest <br />that the Bonds be sold at this time at private sale by negotiation; and <br />WHEREAS, it is necessary and appropriate to authorize and approve <br />certain terms and provisions with respect to the Bonds and the sale thereof; and <br />WHEREAS, the County desires to appoint a Paying Agent and Bond <br />Registrar for the Bonds, to ratify the distribution of a Preliminary Official <br />Statement, to authorize the execution and distribution of an Official Statement, <br />and to authorize and direct the making of certain deposits from the proceeds of <br />sale of the Bonds; and <br />