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1995-075
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1995-075
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Last modified
6/13/2018 2:25:34 PM
Creation date
6/13/2018 2:20:48 PM
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Resolutions
Resolution Number
1995-075
Approved Date
06/20/1995
Resolution Type
Bonds
Entity Name
Indian River County
Subject
General Obligation Bonds $15,000,000
Supplementing Resolution 1995-063
Document Relationships
1995-063
(Agenda)
Path:
\Resolutions\1990'S\1995
1995-083
(Cover Page)
Path:
\Resolutions\1990'S\1995
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InforinaUgg Statement <br />Section 218.38(1)(b)1, Florida Statutes, as amended, requires that the County file, within 120 days after <br />delivery of the Series 1995 Bonds, an information statement with the Division of Bond Finance of the State of <br />Florida (the "Division") containing the following information: (a) the name and address of the managing <br />underwriter, if any, connected with the Series 1995 Bonds; (b) the name and address of any attorney or financial <br />consultant who advised the County with respect to the Series loXIS Bonds; and (c) any fee, bonus, or gratuity <br />paid, in connection with the bond issue, by an underwriter or financial consultant to any person not regularly <br />employed or engaged by such underwriter or consultant and (d) any other fee paid by the County with respect <br />to the Series 1995 Bonds, including any fee paid to attorneys or financial consultants. The Successful Bidder will <br />be required to deliver to the County at or prior to the time of delivery of the Series 1995 Bonds, a statement <br />signed by an authorized officer containing the; same information mentioned in (a) and (c) above. The Successful <br />Bidder shall also be required, at or prior to the delivery of the Series 1995 Bonds, to furnish the County with <br />such information concerning the initial prices at which a substantial amount of the Series 1995 Bonds of each <br />maturity were sold to the public as the County shall reasonably request. <br />LMI 0010lon <br />The Successful Bidder will be furnished, without cost, the approving opinion of Bryant, Miller and Olive, <br />PA., Tallahassee, Florida, to the effect that based on existing law, and assuming compliance by the County with <br />certain covenants and requirements of the Internal Revenue Code of 1986, as amended (the "Code"), regarding <br />use, expenditures, investment of proceeds and the timely payment of certain investment earnings to the United <br />States Treasury, the interest on the Series 1995 Bonds is not includable in the gross income of individuals, <br />however, interest on the Series 1995 Bonds will be included in the calculation of the alternative minimum tax <br />of corporations. The Code contains other provisions that could result in tax consequences, upon which Bond <br />Counsel renders no opinion, as a result of ownership of the Series 1995 Bonds or the inclusion in certain <br />computations (including, without limitation, those related to the corporate alternative minimum tax and <br />environmental tax) of interest that is excluded from gross income. <br />Official Statement <br />The Preliminary Official Statement, copies of which may be obtained as described below, is in a form <br />"deemed final" by the County for purposes of SEC Rule 15c2 -12(b)(1) (except for certain permitted omissions <br />as described in such rule) but is subject to revision, amendment and completion in a linal Official Statement. <br />After the sale of the Series 1995 Bonds, the County will prepare a final Official Statement in substantially the <br />same form as the Preliminary Official Statement. Copies of the final Official Statement will be provided, at the <br />County's expense, on a timely basis in such quantities as may be necessary for the Successful Bidder's regulatory <br />compliance. <br />mbers and DTC Eliei <br />It is anticipated that CUSIP identification numbers will be printed on the Series 1995 Bonds, but neither <br />the failure to print such number on any Series 1995 Bonds nor any error with respect thereto shall constitute <br />cause for failure or refusal by the Successful Bidder to accept delivery of and pay for the Series 1995 Bonds in <br />accordance with its agreement to purchase the Series 1995 Bonds. All expenses in relation to the printing of <br />CUSIP numbers on the Series 1995 Bonds shall be paid for by the County; provided, however, that the CUSIP <br />Service Bureau charge for the assignment of said number shall be the responsibility of and shall be paid for by <br />the Successful Bidder. <br />The successful bidder shall be required to deposit the Series 1995 Bonds with DTC. It is anticipated <br />that the Series 1995 Bonds will be eligible for custodial deposit with DTC; however, it will be the responsibility <br />of the successful bidder to obtain such eligibility. <br />7 <br />
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