1995-083 - Laserfiche WebLink

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SECTION 3. The bid offering to purchase said Bonds at the lowest true interest cost in accordance with the Notice of Bond Sale was the bid of (the "Purchaser") offering to purchase the Bonds for $ , plus accrued interest. The bid of the Purchaser is hereby accepted and $15,000,000 Indian River County, Florida, General obligation Bonds, Series 1995 are hereby awarded to the Purchaser at the price offered for the Bonds, bearing interest at the rates set forth in the bid attached hereto as part of Exhibit A. SECTION 4. In accordance with the provisions of Resolution No. 95-75, the County Administrator and the County Attorney deemed the Preliminary Official Statement final as of June 28, 1995. Such action is hereby ratified and confirmed. The Preliminary Official Statement attached to Resolution No. 95-75 as Exhibit F is hereby ratified and approved. The Chairman of the Board of County Commissioners and the Director of Management and Budget are authorized and directed to execute and deliver an Official Statement in substantially the form of such Preliminary Official Statement, with such changes, insertions and omissions as shall be approved by the Chairman of the Board of County Commissioners and the Director of Management and Budget. SECTION 5. Pursuant to Section 13 of Resolution No. 95-75, AMBAC Indemnity Corporation (the "AMBAC Indemnity") has been selected as the bond insurer, and, pursuant to the Purchaser's bid, the Purchaser has elected to insure the Bonds. Selection of the AMBAC Indemnity is hereby ratified and confirmed and payment for such insurance is hereby authorized from proceeds of the Bonds in accordance with the Commitment for Municipal Bond Insurance from AMBAC Indemnity attached hereto as Exhibit B, and the terms, conditions and agreements relating to the Issuer set forth in such Commitment for Municipal Bond Insurance are hereby accepted and incorporated herein. A statement of insurance is hereby authorized to be printed on or attached to the Bonds for the benefit and information of the holders of the Bonds. SECTION 6. In addition to the covenants and agreements of the Issuer previously contained in the Resolution regarding the rights of AMBAC Indemnity which are hereby incorporated herein, the Issuer hereby makes the following additional covenants and agreements for the benefit of AMBAC Indemnity and the Holders of the Bonds while the Bond Insurance Policy insuring the Bonds is in full force and effect: (A) Definitions. "AMBAC Indemnity" shall mean AMBAC Indemnity Corporation, a Wisconsin -domiciled stock insurance company. "Authorized Investments" shall mean for all purposes, including defeasance investments in escrow accounts: