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be sold at this time at private sale by negotiation; <br />WHEREAS, William R. Hough & Co. (the "Purchaser"), has offered to purchase <br />the Bonds on the terms and conditions hereinafter described; <br />WHEREAS, the County desires to purchase municipal bond insurance in <br />connection with the Bonds; <br />WHEREAS, the County desires to appoint a Paying Agent and Bond Registrar <br />for the Bonds, to ratify the distribution of a Preliminary Official Statement and <br />to authorize the execution and distribution of an Official Statement; <br />WHEREAS, the County desires to provide for the retirement of Retired Bonds; <br />WHEREAS, the County desires to authorize the execution and delivery of the <br />Escrow Agreement and to appoint an Escrow Agent in connection with said <br />retirements; and <br />WHEREAS, the County desires to provide for certain other matters in <br />connection with the foregoing. <br />NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF <br />INDIAN RIVER COUNTY, FLORIDA: <br />SECTION 1. The Series 1993A Bonds shall be in the aggregate principal <br />amount of $47,190,000. The Series 1993B Bonds shall be in the aggregate <br />principal amount of $3,330,000. The Bonds shall be dated as of April 1, 1993, <br />shall be in fully registered form, shall be in denominations of $5,000 or any <br />integral multiple thereof, shall bear interest payable semiannually, on March 1 <br />and September 1 of each year, commencing September 1, 1993, until the principal <br />amount thereof is paid, by check mailed by the Paying Agent to the Registered <br />Owners thereof at their addresses as the same appear on the registration books <br />kept by the Bond Registrar on behalf of the County at 5:00 p.m. local time at the <br />location of the Bond Registrar on the fifteenth (15th) day of the month <br />2 <br />