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$15,M,M*
<br />INDIAN RIVER COUNTY, FLORIDA
<br />GENERAL OBLIGATION BONDS, SERIES 1995
<br />Sealed proposals will be received by Indian River County, Florida (the "County") at the Office of the
<br />Director of Management and Budget, 1840 25th Street, Vero Beach, Florida 32960, by 11:00 a.m. (Eastern
<br />Daylight Time) on July 11, 1995 for the purchase of the Indian River County, Florida, General Obligation Bonds,
<br />Series 1995 (the "Series 1995 Bonds"). Each proposal, together with the good faith deposit described below,
<br />should be enclosed in a sealed envelope marked "Proposal for $16,000,000• Indian River County, Florida,
<br />General Obligation Bonds, Series 1995; Do Not Open Until 11:00 a.m. (Eastern Daylight Time), July 11,1995",
<br />or such similar legend which appropriately identifies the contents thereof.
<br />Form of Series 1995 Bonds - Full Book Entry
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<br />The Series 1995 Bonds shall be issued in book -entry form, as fully registered Bonds without coupons,
<br />shall be dated July 1, 1995 and shall bear interest as set forth herein, payable semiannually on January 1 and July
<br />1 of each year, commencing on January 1, 1996.
<br />The Series 1995 Bonds will be issued by means of a book -entry system with no physical distribution of
<br />bond certificates made to the public. One bond certificate for each maturity will be registered in the name of
<br />Cede & Co., as nominee of The Depository Trust Company, New York, New York ("DTC") and immobilized
<br />in its custody. The Successful Bidder (as defined below), as a condition to delivery of the Series 1995 Bonds,
<br />shall be required to (i) deposit the certificates with DTC, registered in the name of Cede & Co., its nominee
<br />and (ii) take all actions required by DTC of a managing underwriter in this regard. The book -entry system will
<br />evidence ownership interests in the Series 1995 Bonds in the principal amount of $5,000 and any integral multiple
<br />thereof, with transfers of ownership interests of€ie ted on the records of DTC and its participants pursuant to
<br />rules and procedures established by DTC. Transfer of principal and interest payments to participants of DTC
<br />will be the responsibility of DTC, and transfer of principal and interest payments to beneficial owners of the
<br />Series 1995 Bonds by participants of DTC will be the responsibility of such participants and other nominees of
<br />beneficial owners. The County will not be responsible or liable for such transfers of payments or for maintaining,
<br />supervising, or reviewing the records maintained by DTC, its participants or persons acting through such
<br />participants.
<br />DTC may discontinue providing its services with respect to the Series 1995 Bonds at any time by giving
<br />notice to the County and discharging its responsibilities with respect thereto under applicable law, or the County
<br />may terminate its participation in the system of book -entry transfers through DTC at any time. Upon either such
<br />event, if the County fails to identify another qualified securities depository to replace DTC, the County will
<br />deliver replacement bonds in the form of fully registered certificates in denominations of $5,000 and any integral
<br />multiple thereof pursuant to the resolution under which the Bonds are issued. However, definitive replacement
<br />bonds shall be issued only upon surrender to the Bond Registrar of the bond of each maturity by DTC,
<br />accompanied by registration instructions for definitive replacement bonds for such maturity from DTC. Neither
<br />the County nor the Bond Registrar shall be liable for any delay in delivery of such instructions and conclusively
<br />may rely on and shall be protected in relying on such instructions of DTC.
<br />*Preliminary, subject to change.
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