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RESOLUTION NO. 1995-075 <br />A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF <br />INDIAN RIVER COUNTY, FLORIDA, SUPPLEMENTING RESOLUTION <br />NO. 95-63; PROVIDING FOR THE SALE OF NOT TO EXCEED <br />$15,000,000 GENERAL OBLIGATION BONDS OF INDIAN RIVER <br />COUNTY, FLORIDA; FIXING REDEMPTION PROVISIONS AND SERIES <br />DESIGNATION FOR THE BONDS; SETTING FORTH THE FORM OF THE <br />NOTICE OF BOND SALE AND SUMMARY NOTICE OF BOND SALE <br />RELATING TO THE SALE OF SUCH BONDS; DIRECTING PUBLICATION <br />OF THE SUMMARY NOTICE OF SALE RELATING TO SUCH BONDS; <br />PROVIDING FOR THE OPENING OF BIDS RELATING TO THE SALE OF <br />THE BONDS; SETTING FORTH THE OFFICIAL NOTICE OF SALE AND <br />BID FORMS; PROVIDING THAT SUCH BONDS SHALL BE ISSUED IN <br />FULL BOOK ENTRY FORM AND AUTHORIZING THE EXECUTION AND <br />DELIVERY OF A LETTER OF REPRESENTATION WITH THE <br />DEPOSITORY TRUST COMPANY; APPROVING THE FORM OF A <br />PRELIMINARY OFFICIAL STATEMENT; COVENANTING TO PROVIDE <br />CONTINUING DISCLOSURE; AUTHORIZING THE SELECTION OF A <br />REGISTRAR AND PAYING AGENT; AUTHORIZING THE SELECTION OF <br />A PROVIDER OF MUNICIPAL BOND INSURANCE; PROVIDING CERTAIN <br />OTHER MATTERS IN CONNECTION THEREWITH; AND PROVIDING AN <br />EFFECTIVE DATE. <br />WHEREAS, on May 16, 1995, the Board of County Commissioners of <br />Indian River County, Florida (the "County" or the "Issuer") enacted <br />Resolution No. 95-63 (the "Resolution") to provide for the issuance <br />of not to exceed $26,000,000 Indian River County General Obligation <br />Bonds (the "Bonds") payable from the County's ad valorem taxes <br />without limit on all taxable property in the County as provided in <br />the Resolution; provided, however, that the Bonds shall be <br />structured in such a manner that at the time of issuance of any <br />series thereof, the millage rate required to make the maximum <br />annual payment of the principal of and interest on the Bonds shall <br />not exceed 1/2 mil of the then assessed value of all lands situated <br />in the County subject to ad valorem taxation; and <br />WHEREAS, it is in the best interest of the County to provide <br />for the current public sale of not to exceed $15,000,000 of such <br />Bonds as the initial series thereof, and to reserve the remaining <br />$11,000,000 authorized amount for subsequent issuance by the <br />County; <br />NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY <br />COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, as follows: <br />SECTION 1. SERIES DESIGNATION. The series designation for <br />the initial series of Bonds is hereby determined to be Series 1995 <br />(and hereinafter the Bonds are referred to as the "Series 1995 <br />Bonds"). <br />