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PRELIMINARY OFFICIAL STATEMENT DATED JUNE 29, 1995
<br />NEW ISSUE - BOOK -ENTRY ONLY
<br />Draft #2
<br />June 9, 1995
<br />(See "Bond Ratings" herein)
<br />In the opinion of Bond Counsel, under existing laws, regulations and judicial decisions, interest
<br />on the Bonds is excluded from gross income for purposes of federal income taxation and the Bonds are
<br />exempt frora all present intangible personal property taxes imposed pursuant to Chapter 199, Florida
<br />Statutes, but are subject to Florida estate taxes and taxes imposed by Chapter 220, Florida Statutes, as
<br />applicable. See, however "Tax Exemption " herein for a description of certain federal minimum and other
<br />special taxes that may affect the tax treatment of interest on the Bonds.
<br />Dated: July 19 1995
<br />$15,0009,000 *
<br />INDIAN RIVER COUNTY, FLORIDA
<br />GENERAL OBLIGATION BONDS, SERIES 1995
<br />Due: August 1, as shown below
<br />Indian River County, Florida (the "County"), is issuing its General Obligation Bonds, Series 1995
<br />(the "Bonds"), as fully registered bonds in the denomination of $5,000 or any integral multiple thereof.
<br />Interest on the Bonds will be payable February 1, 1996, and semiannually thereafter (February 1 and
<br />August 1 of each year) to their respective dates of maturity. The Bonds will be initially registered only
<br />in the name of Cede & Co., as nominee of The Depository Trust Company, New York, New York
<br />("DTC"), which will act as securities depository for the Bonds. The Bonds will be available to
<br />purchasers only under the book -entry system maintained by DTC through brokers and dealers who are,
<br />or act through, DTC Participants. Purchasers will not receive delivery of the Bonds. So long as any
<br />purchaser is the Beneficial Owner (as defined herein) of a Bond, he must maintain an account with a
<br />broker or dealer who is, or acts through, a DTC Participant to receive payment of principal of and
<br />interest on such Bond. See "DESCRIPTION OF THE BONDS - BOOK -ENTRY ONLY SYSTEM"
<br />herein.
<br />Certain of the Bonds are subject to optional redemption as described herein.
<br />The Bonds are being issued under the authority of, and in full compliance with, the Constitution
<br />and Statutes of the State of Florida, including particularly Chapter 125, Florida Statutes, and other
<br />applicable provisions of law, and pursuant to the terms and conditions of Resolution No. 95-63 (the
<br />"Resolution"), adopted by the Board of County Commissioners of the County (the "Board"), on May 16,
<br />1995, as supplemented, to (1) finance the cost of acquiring environmentally significant land to protect
<br />water quality, open spaces and wildlife habitat, as more specifically set forth in the Resolution (the
<br />"Project"); and (2) pay certain expenses related to the issuance and sale of the Bonds. See the discussion
<br />under the heading "PURPOSE OF ISSUANCE" herein.
<br />The Bonds and the interest thereon will be payable from and will be secured forthwith equally
<br />and ratably by a lien upon ad valorem taxes levied without limit as to rate or amount upon all taxable
<br />property in the County (the "Ad Valorem Taxes"). The County has pledged its full faith, credit and ad
<br />valorem taxing power to the payment of the principal, premium, if any, and interest on the Bonds. For
<br />a discussion of the security for the Bonds, see the information under the heading "SECURITY AND
<br />SOURCES OF PAYMENT FOR THE BONDS" herein.
<br />3247/IND38002-9/POS-COVER- 1
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