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Dollars ($10,000,000) during the 1992 calendar year and, accordingly, hereby <br />designates each of the Bonds as a "qualified tax-exempt obligation", as defined <br />in Section 265(b)(3)(B) of the Code, for the purposes and effect contemplated by <br />Section 265 of the Code. <br />SECTION 3. It is hereby found, ascertained, determined and declared by <br />the Board that a negotiated sale of the Bonds is in the long term best interest <br />of the County. <br />SECTION 4. In compliance with Subsection 218.385(4), Florida Statutes, as <br />amended, the Purchaser has provided to the County, prior to the adoption of this <br />Resolution, a disclosure statement containing the information required by <br />paragraphs (a) through (g) of said Subsection 218.385(4). Said disclosure <br />statement is attached to the Bond Purchase Agreement. <br />SECTION 5. The Bonds are hereby awarded and sold to the Purchaser at a <br />total price of $7,425,774.20 (the aggregate principal amount less original issue <br />discount of $39,994.90 and underwriter's discount of $64,230.90) plus accrued <br />interest from December 1, 1992 to the date of delivery thereof. The Contract of <br />Purchase dated November 24, 1992 by and between the Purchaser and the County, in <br />the form attached hereto (the "Bond Purchase Agreement"), is hereby approved and <br />accepted and the proper officers of the County are authorized and directed to <br />execute the acceptance thereof in the space provided therefor on the Bond <br />Purchase Agreement. <br />SECTION 6. The purchase of -municipal bond insurance with respect to the <br />Bonds from Municipal Bond Investors Assurance Corporation is hereby authorized <br />and directed. The Chairman, the Vice Chairman and the Clerk of the Board and the <br />proper officers of the County are each hereby authorized and directed to take all <br />actions on behalf of the County as may be necessary, desirable and/or appropriate <br />in connection with such insurance, including without limitation the payment of <br />the premium therefor. <br />SECTION 7. NationsBank of Florida, N. A., Fort Lauderdale, Florida, is <br />hereby appointed Paying Agent and Bond Registrar for the Bonds. <br />SECTION 8. The Preliminary Official Statement with respect to the Bonds, a <br />copy of which is attached to the Bond Purchase Agreement (the "Preliminary <br />.rv'' <br />Official Statement"), is hereby approved and ratified by the County, and the <br />45 <br />OV 2 41992 <br />