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<br />PRELIMINARY OFFICIAL STATEMENT DATED SEPTEMBER 17, 1991 Ex al) -
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<br />8 as $9,085,000*
<br />PS c o INDIAN RIVER COUNTY, FLORIDA
<br />2 t A Water and Sewer Revenue Bonds, Series 1991
<br />S2'2m Dated: October 1, 1991 Due: May 1, as shown hallow
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<br />e o o - The Water and Sewer Revenue Bonds, Series 1991 (the "Series 1991 Bonds') are being issued by Indian River County, Florida (the 'County')
<br />IIM as as
<br />deo in fully registered form in denominations of $5,000 and any integral multiple thereof. Interest on the Series 1991 Bonds is payable semiannually on May
<br />mc d 1 and November 1, commencing May 1, 1992, by check or draft of , as Paying Agent ('Paying Agent"), made out and mailed to the Registered
<br />E o $ Owner, as shown on the registration books of the County maintained by ,as Bond Registrar ("Bond Registrar"), on the fifteenth day
<br />o e22 d of the month next preceding the applicable interest payment date and as otherwise described herein. The principal of the Series 1991 Bonds, when due,
<br />:51 c and any premium thereon will be payable upon presentation and surrender thereof at the principal corporate trust office of the Paying Agent.
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<br />a. y eo The Series 1991 Bonds are
<br />being issued pursuant to the authority of the Constitution and laws of the State of Florida, including chapter 125
<br />E .. m on c and 159, Florida Statutes, and other applicable provisions of law (the 'Act') and Indian River County Resolution No. 89-19, as amended and supplemented,
<br />W m c o including amendments and supplements made by Resolution No. 91-81, adopted by the County on July 23, 1991, as the same ray be amended and
<br />gc c supplemented (collectively, the 'Resolution").
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<br />to S .c The proceeds of Series 1991 Bonds, together with certain other legally available funds, shall be deposited and applied by the County to (i)
<br />to li'e establish the Construction Fund for the purpose of constructing the regional sludge treatment facility authorized under the Resolution (the '1991 Project'),
<br />c E (ii) retire the Indian River County, Florida, Water Revenue Bonds, Series 1988, Anticipation Notes, dated December 1, 1988 (the 'Series 1988 Notes'),
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<br />(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 first
<br />Eye•. coining due on the 1991 Bonds, and (v) pay certain costs incurred in connection with the issuance of the Series 1991 Bonds, all as more particularly
<br />d d 'c described herein.
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<br />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 be
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<br />OD issued simultaneously with the delivery of the Series 1991 Bonds by
<br />o a Financial Guaranty Insurance
<br />a0.) I' lYIC. Company
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<br />m NEITHER TIIE COUNTY, TIIE STATE OF FLORIDA NOR ANY POLITICAL SUBDIVISION THEREOF IIAS PLEDGED ITS FAITH
<br />oOR CREDIT OR TAXING POWER TO THE PAYMENT OF TIIE SERIES 1991 BONDS. NO HOLDER OF TIIE SERIES 1991 BONDS SIIALI.
<br />EVER HAVE THE RIGIIT TO COMPEL THE EXERCISE OF ANY AD VALOREM TAXING POWER OF THE COUNTY OR TAXATION
<br />:0(.6 INN ANY FORM OF ANY REAL PROPERTY THEREIN TO PAY TIIE SERIES 1991 BONDS OR THE INTEREST DUE THEREON NOR BE
<br />ENTITLED TO PAYMENT OF THE SERIFS 1991 BONDS FROM ANY FUNDS OF TIIE COUNTY EXCEPT AS DESCRIBED HEREIN.
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<br />5 $ % Tenn Bonds due - Price %
<br />$ % Tenn Bonds due - Price _%
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<br />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 due
<br />are subject to mandatory redemption prior to maturity as described herein.
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<br />The Series 1991 Bonds are limited obligations of Indian River County, Florida. The Series 1991 Bonds are payable by the County from
<br />and secured by a Gen upon and pledge of the Net Revenues of the System and amounts on deposit in the Sinking Fund, the Bond Amortization
<br />Account and the Reserve Account established under the Resolution, all as described herein. The Series 1991 Bonds together with the outstanding
<br />Indian River County, Florida, Water and Sewer Revenue Refunding Bonds, Series 1989 (the "Series 1989 Bonds") and any other Additional Party
<br />Bonds that may be secured under the Resolution (collectively the "Bonds") are equally and ratably secured by a lien upon and pledge of the Net
<br />Revenues. Such lien and pledge of the Net Revenues of the System are subordinate to a lien granted for certain bonds issued to Farulers Howe
<br />Administration, United States Department of Agriculture ("Fm11A") pursuant to Resolution No. 82-61 of the County, as further described herein.
<br />The aggregate aluount of indebtedness relating to such bonds is $9,650,000. Other than such bonds, the County shall not issue any bonds or
<br />obligations senior to or having priority over the Bonds. See "ADDITIONAL FINANCING ARRANGEMENTS - Senior Lien Bonds."
<br />MATURITIES, AMOUNTS, RATES AND YIELDS
<br />Principal Interest Yield at Principal Interest Yldd or
<br />Amount Kele Prism Dur Amount Raw Price
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<br />in The Series 1991 Bonds are offered when, as and ((issued and received by the Underwriter, subject to the approval of kgaUty by Rhoads & Sian,
<br />rat Boca Raton, Florida, Bond Counsel to the Gummy. Certain kraal matters will be passed upon for the County by G7earks P. Vitwtac, Esquire, County
<br />V Atwn1ey and for she Underwdar by came*, Fields, Wand, Emmanuel, Snaith & Ostler, P.A., West Pabn Beach, Florida. 11 is expected that the Series
<br />1991 Bonds will be availabk for delivery in New York, New York, in definitive fonts on or about
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<br />September, lel Raymond James & Associates, Inc,
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