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E PRELIMINARY OFFICIAL STATEMENT DATED SEPTEMBER 17, 1991 Ex
<br />IS,
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<br />Pa 1. g i fLLT
<br />NEW ISSUE R.
<br />WIsthew Oplmiam of dead Caen, swming as.diaeg aampiheoe by the Cagily with mewls ooausu to comfy with povltlss of the lama Ilwas, Cods of 1996. NO demadid. tam
<br />2 25 s the Serfs. 1991 Sods le included GWoes gram oes fm pad al potss Weion® b
<br />Wisdom sed is as Ito d Wi monism... for paps. of for im
<br />de.iImi iha minima leps tan a•d iedividu
<br />sed aorporstas weer minting mums, mauYiss sad judicial drcYm: ialthough b id should to said Iia th
<br />in e mss d corporations (as droned far bind is® tis papaws), such iuwast is tad I
<br />O. d v saoarm is domain* edju mnd einem sande. for impair d welt mhwesive seldimtm Wi. Flmthssmw, ion tis Opinion d Seed Owed. do Serio 1991 done odd tie Imo doodad a° sus
<br />• from iambus. tinder Ws laws d tis tilts d Flare, maps se mum tum sed ass Imposed by Copt! 220, Florida Suns, on imemst, imam oe profile as debt obligator oust by opwuie
<br />2 = bob sal savings incisions ism 'TAX F7(F7dt rlON' Wain for benne ifoemsfem).
<br />ad en to $9,085,000*
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<br />c INDIAN RIVER COUNTY, FLORIDA
<br />,�w
<br />�' = Water and Sewer Revenue Bonds, Series 1991
<br />O m tE Dated: October 1, 1991 Due: May 1, as shows belt
<br />a.. IC
<br />Eo = The Water and Sewer Revenue Bonds, Series 1991 (the "Series 1991 Bonds') are being iuued by Indian River County, Florida (the "Count]
<br />c 0 y in fully registered form in denominations of 85,000 and any integral multiple thereof. Interest on the Series 1991 Bonds is payable semiannually on M
<br />raw 0y 1 and November 1, commencing May 1, 1992, by check or daft of , u Paying Agent ("Paying Agent"), made out and nailed to the Register
<br />Eo r Owner, as shown on the registration books of the County maintained by ,u Bond Registrar ("Bond Registrar"), on the fifteenth d
<br />o ion y of the month next preceding the applicable interest payment date and as otherwise described herein. The principal of the Series 1991 Bonds, when di
<br />� and any premium thereon will be payable upon presentation and surrender thereof at theprincipal corporate trust office of the Paying Agent.
<br />O 0
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<br />m o The Series 1991 Bonds are subject to redemption, at the option of the County, prior to maturity as set forth herein. The Series 1991 Bonds d
<br />2▪ 0 ¢ are subject to mandatory redemption prior to maturity as described herein.
<br />ro
<br />re ▪ p to The Series 1991 Bonds are being issued pursuant to the authority of the Constitution and laws of the State of Florida, including chapters 1
<br />E 4 c' and 159, Florida Statutes, and other applicable provisions of law (the "Act') and Indian River County Resolution No. 89-19, as amended and supplement
<br />y c a including amendments and supplements made by Resolution No. 91-81, adopted by the County on July 23, 1991, as the same may be amended a
<br />uc F supplemented (collectively, the "Resolution').
<br />ar CU to
<br />U1 a ° The proceeds of Series 1991 Bonds, together with certain other legally available funds, shall be deposited and applied by the County to
<br />is , 'en establish the Construction Fund for the purpose of constructing the regional sludge treatment facility authorized under the Resolution (the "1991 Project'
<br />ecci d (ii) retire the Indian River County, Florida, Water Revenue Bonds, Series 1988, Anticipation Notes, dated December 1, 1988 (the 'Series 1988 Notes
<br />y 0 (iii) make a deposit to the Reserve Account established under the Resolution, (iv) fund the Sinking Fund in an amount to pay a portion of the interest fi
<br />E mei corning due on the 1991 Bonds, and (v) pay certain costs incurred in connection with the issuance of the Series 1991 Bonds, all as more particula
<br />E E o
<br />13 •- described herein.
<br />N d.. d
<br />ea Ca=The payment of the principal of, and interest on the Series 1991 Bonds when due will be insured by a municipal bond insurance policy to
<br />a73 . issued simultaneously with the delivery of the Series 1991 Bonds by
<br />Iii 0 e 0 !-Financial Guaranty Insurance
<br />ae Fuc
<br />Company
<br />arm
<br />Ere a.....or. tawto, r.raw.al/.aurin.brew, .pd. .' ON aell.Wd.x1, u..L�.,a.r..,"a, raw,..
<br />el 5
<br />cThe Series 1991 Bonds are limited obligations of Indian River County, Florida. The Series 1991 Bonds are payable by the County fir(
<br />8'y • and secured by a lien upon and pledge of the Net Revenues of the System and amounts on deposit in the Sinking Fund, the Bond Aurortizati
<br />cz n alt Account and the Reserve Account established under the Resolution, all as described herein. The Series 1991 Bonds together with the outstandi
<br />• H N Indian River County, Horida, Water and Sewer Revenue Refunding Bonds, Series 1989 (the "Series 1989 Bonds") and any other Additional II%
<br />s
<br />w = .- Bonds that may be secured under the Resolution (collectively the "Bonds") are equally and ratably secured by a lien upon and pledge of the I'
<br />at . Revenues. Such lien and pledge of the Nei Revenues of the System are subordinate to a lien granted for certain bonds issued to Farmers Iloi
<br />es e H o Administration, United States Department of Agriculture ("Fm1IA") pursuant to Resolution No. 82-61 of the County, as further described here
<br />.• soul to The aggregate amount of indebtedness relating to such bonds is 89,650,000. Other than such bonds, the County shall not issue any bonds
<br />ID
<br />03 •p obligations senior to or having priority over the Bonds. See "ADDITIONAL FINANCING ARRANGEMENTS - Senior Lien Bonds."
<br />w
<br />Ear a`: NEITILER THE COUNTY, THE STATE OF FLORIDA NOR ANY POLITICAL SUBDIVISION THEREOF HAS PLEDGED ITS FAI
<br />E
<br />.v n OR CREDIT OR TAXING POWER TO TIIE PAYMENT OF THE SERIFS 1991 BONDS. NO IIOLDER OF TIIE SERIES 1991 BONDS SIIA
<br />c> 0 EVER HAVE THE RIGIIT TO COMPEL THE EXERCISE OF ANY AD VALOREM TAXING POWER OF TIIE COUNTY OR TAXATII
<br />c F a IN ANY FORM OF ANY REAL PROPERTY THEREIN TO PAY TIIE SERIES 1991 BONDS OR TIIE INTEREST DUE THEREON NOR
<br />Wco so
<br />ENTITLED TO PAYMENT OF THE SERIFS 1991 BONDS FROM ANY FUNDS OF THE COUNTY EXCEPT AS DESCRIBED IIEREIN.
<br />o•3 MATURITIES, AMOUNTS, RATES AND YIELDS
<br />C p Principal Interest Vlei! m Principal Interest Yield a
<br />0 u– C
<br />.S — a Die Amount win him Din Amount Rats Mlle
<br />c 0c Ls i 7�4cH//� SeN-Eove :z:
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<br />00 c
<br />E d ^ $ % Term Bonds due - Price _%
<br />an > S % Tenn Bonds due - Price %
<br />Nv m (Accrued interest to be added)
<br />Vw C_
<br />.E .
<br />w wflee Series 1991 Bonds are offered when, as and jf issued and received by the Under.s *er, subject to the approval of kgalry by Rhoads & Sin
<br />EBoca Raton, Florida, Bond Counsel so she County. Certain legal mattes will be paced upon for the County by (Barks P. Mow, &quire, Cor
<br />..... r = Attorney and for the Underwriter by Carlton, Fields, Ward, Emmanuel, Smith & Clukr, P.A., West Palm Beach, Florida. It Je expected that the Se
<br />gh a 1991 Bonds will be available for delivery in New York, New York, in definitive forn on or about
<br />C:st16Q, September _, 1991
<br />Raymond James & Associates, Inc.
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