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RESOLUTION N0. 95- 83 A RESOLUTION OF INDIAN RIVER COUNTY, FLORIDA AWARDING THE SALE OF $15,000,000 GENERAL OBLIGATION BONDS OF INDIAN RIVER COUNTY, FLORIDA; RATIFYING PREVIOUS ACTIONS TAKEN BY THE DIRECTOR OF MANAGEMENT AND BUDGET IN CONNECTION THEREWITH; APPROVING THE MATURITIES AND OTHER TERMS OF SUCH BONDS; AUTHORIZING THE PURCHASE OF MUNICIPAL BOND INSURANCE; SUPPLEMENTING RESOLUTION NO. 95-63 TO PROVIDE ADDITIONAL COVENANTS RELATING TO MUNICIPAL BOND INSURANCE APPLICABLE TO THE BONDS; AMENDING CERTAIN COVENANTS TO PROVIDE CONTINUING DISCLOSURE CONTAINED IN RESOLUTION NO. 95-75; PROVIDING CERTAIN OTHER MATTERS IN CONNECTION THEREWITH; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, on May 16, 1995, the Board of County Commissioners of Indian River County, Florida (the "Issuer") adopted Resolution No. 95-63 (the "Resolution") to provide for the issuance of not to exceed $26,000,000 General Obligation Bonds of Indian River County, Florida payable from ad valorem taxes levied by the Issuer; and WHEREAS, pursuant to Resolution No. 95-75, the Issuer provided for the public sale of $15,000,000 of such General Obligation Bonds (the "Bonds") pursuant to an official Notice of Bond Sale; and WHEREAS, Resolution No. 95-75 delegated certain responsibili- ties in connection with the award and issuance of such Bonds to the Director of Management and Budget, and the Issuer wishes to ratify the actions taken; and NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA as follows: SECTION 1. In accordance with the provisions of Resolution No. 95-75, the Issuer published a Summary Notice of Sale in zhg Bond Buyer and distributed an Official Notice of Bond Sale calling for bids to be received by 11:00 a.m., E.D.T. on July 11, 1995. Such action is hereby ratified and confirmed. SECTION 2. In accordance with the provisions of Resolution 95-75 the Director of Management and Budget accepted the bids submitted pursuant to the Official Notice of Bond Sale, and at the hour stated in said Official Notice of Bond Sale, bidding was closed and the bids attached as Exhibit A to this Resolution were found to have been filed and to comply in all respects with the terms of the said Notice of Bond Sale. The Official Notice of Bond Sale set forth the maturities, subject to adjustment as provided therein, and redemption provisions for the Bonds, and such maturities, as may have been adjusted, and redemption provisions, are hereby ratified and approved.