1995-083 - Laserfiche WebLink

Home Browse Search

A�M AMBAC Indemnity Corporation One State Street Plaza New York, New York 10004 (212) 668-0340 Fax: (212) 509-9190 July 6, 1995 Robert C. Reid, Esq. Bryant, Miller and Olive, P.A. 201 South Monroe Street Suite 500 Tallahassee, FL 32301 RE: 515,000,000 Indian River County, Florida, General Obligation Bonds, Series 1995, dated July 1, 1995. Dear Mr. Reid: Enclosed please find the original and one certified copy of the Commitment for Municipal Bond Insurance, Commitment No. 12235 (the "Commitment"), relating to the above -captioned obligations (the "Bonds"). The original of this Commitment should be delivered to or held on behalf of the issuer of the Bonds, and if not exercised, should be disregarded. Please note the following: I . If this issue of Bonds sells with AMBAC insurance, please notify Janine Feudi at (212) 208-3301, who will assign a closing coordinator who will be responsible for the financing throughout the closing. Enclosed in AMBAC's STANDARD PACKAGE is the bond legend which should appear on the Bonds. The policy number to be printed as part of the bond legend can be obtained from the closing coordinator. 2. In order to ensure a timely closing, please notify your closing coordinator as soon as possible if you will require rating letters from Fitch Investors Service, Inc., Moody's Investors Service or Standard & Poor's Corporation. If any requests are made of you by any rating agency for documentation regarding this issue or any related or parity debt issue, please respond promptly since this will facilitate the timely receipt of the rating letters. NOTE: ENCLOSED FIND INFORMATION REGARDING MOODY'S RATINGS AND FEES FOR INSURED ISSUES AND STANDARD & POOR'S RATINGS AND FEES FOR INSURED ISSUES AND ASSIGNMENT OF INSURER'S CLAIMS -PAYING RATINGS TO INSURED ISSUES. (Fitch Investors Service, Inc., Moody's Investors Service and Standard & Poor's Corporation assess separate rating fees which are payable directly to them. All questions regarding the payment of such fees must be addressed to the applicable rating agency.) 3. if requested, an opinion of AMBAC's counsel regarding the fairness and accuracy of the language included in the Official Statement describing AMBAC and the Policy will be delivered at closing. The delivery of such opinion is dependent upon the prior review of such official statement by our legal department. 4. Enclosed for your use in preparing the Official Statement are (i) a sample Municipal Bond Insurance Policy (the "Policy") and any applicable endorsements thereto; and (ii) AMBAC's STANDARD PACKAGE, which includes suggested Official Statement disclosure language and the official AMBAC logo. Please send all drafts of the Official Statement to AMBAC's Closing Department, attention of your closing coordinator. Receipt, by the closing coordinator, of SIX COPIES of the FINAL OFFICIAL STATEMENT will ensure timely preparation of AMBAC's Policy for submission to the rating agencies.