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$9,700,000
<br />INDIAN RIVER COUNTY, FLORIDA
<br />RECREATIONAL REVENUE REFUNDING BONDS, SERIES 1993
<br />INTRODUCTION
<br />This Preliminary Official Statement, which includes the cover page and appendices hereto, provides
<br />certain information relating to the sale by Indian River County, Florida (the "Issuer" or the "County'), of its
<br />$9,700,1100• Recreational Revenue Refunding Bonds, Series 1993 (the "Series 1993 Bonds"). The Series 1993
<br />Bonds are being issued pursuant to Chapter 125, Florida Statutes, as amended, County Home Rule Ordinance
<br />No. 77-19, enacted August 3, 1977, as amended, and other applicable provisions of law (collectively the "Act"),
<br />and Indian River County Resolution No. 93-_, adopted , 1993, as amended and supplemented (the
<br />"Resolution").
<br />The Series 1993 Bonds are limited obligations of Indian River County, Florida, payable by the County
<br />from and secured by a lien upon and pledge of the Pledged Funds (as described herein) including amounts on
<br />deposit in the Sinking Fund, the Bond Amortization Account and the Reserve Account established under the
<br />Resolution, all as described herein.
<br />Neither the County, the State of Florida nor any political subdivision thereof has pledged its faith or
<br />credit or taxing power to the payment or the Series 1993 Bonds. No holder of the Series 1993 Bonds shall ever
<br />have the right to compel the exercise of any ad valorem taxing power of the County or taxation in any form
<br />of any real property therein to pay the Series 1993 Bonds or the interest due thereon nor be entitled to payment
<br />of the Series 1993 Bonds from any funds of the County except as described herein.
<br />The references, excerpts and summaries of all documents referred to herein do not purport to be
<br />complete statements of the provisions of such documents, and are made subject to all of the detailed provisions
<br />of such documents, to which reference is directed for full and complete statements of all matters relating to the
<br />Resolution, the Series 1993 Bonds, the security for the payment of the Series 1993 Bonds and rights and
<br />obligations of the holders of the Series 1993 Bonds. Capitalized terms used but not defined herein have the same
<br />meaning as in the Resolution unless the context would indicate otherwise. A copy of the Resolution is attached
<br />hereto as Appendix C.
<br />PURPOSE OF THE SERIES 1993 BONDS
<br />The Series 1993 Bonds are being issued by the County to provide funds, together with other available
<br />funds, to (a) retire all of the Countys outstanding bonds relating to the Sandridge Golf Course and related
<br />clubhouse facilities which consist of the $2,720,000 Recreational Revenue Bonds, Series 1985 currently
<br />outstanding- in the aggregate principal amount of $2,635,000 (the "Series 1985 Bonds") and the $6,015,000
<br />Recreational Revenue Bonds, Series 1991 currently outstanding in the aggregate principal amount of $6,015,000
<br />(the "Series 1991 Bonds") (collectively the "Refunded Bonds"), (ii) make a deposit to the Reserve Account
<br />established under the Resolution, and (iii) pay certain costs incurred in connection with the issuance of the Series
<br />1993 Bonds, all as more particularly described herein.
<br />"Preliminary, subject to change
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