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INDIAN RIVER COUNTY, FLORIDA RESOLUTION NO. 93 - 146 A RESOLUTION SPECIFYING CERTAIN TERMS AND PROVISIONS FOR THE $9,875,000 AGGREGATE PRINCIPAL AMOUNT OF RECREATIONAL REVENUE REFUNDING BONDS, SERIES 1993, OF INDIAN RIVER COUNTY, FLORIDA; APPROVING, ACCEPTING AND AUTHORIZING THE EXECUTION AND DELIVERY OF A BOND PURCHASE AGREEMENT FOR THE AWARD AND SALE OF THE BONDS, AT PRIVATE SALE BY NEGOTIATION, TO THE PURCHASER THEREOF; AUTHORIZING THE PURCHASE OF MUNICIPAL BOND INSURANCE WITH RESPECT TO THE BONDS; APPOINTING A PAYING AGENT AND BOND REGISTRAR FOR THE BONDS; RATIFYING THE DISTRIBUTION OF A PRELIMINARY OFFICIAL STATEMENT; AUTHORIZING THE EXECUTION AND DISTRIBUTION OF AN OFFICIAL STATEMENT IN CONNECTION WITH THE MARKETING OF THE BONDS; PROVIDING FOR THE RETIREMENT OF THE RETIRED BONDS; AUTHORIZING THE EXECUTION AND DELIVERY OF AN ESCROW AGREEMENT IN CONNECTION WITH SAID RETIREMENTS; APPOINTING AN ESCROW AGENT; PROVIDING FOR CERTAIN OTHER MATTERS RELATING TO THE BONDS AND SAID RETIREMENTS; AUTHORIZING ALL OTHER NECESSARY, DESIRABLE AND/OR APPROPRIATE ACTIONS IN CONNECTION WITH THE SALE, ISSUANCE AND DELIVERY OF THE BONDS AND SAID RETIREMENTS AND SPECIFYING THE EFFECTIVE DATE HEREOF. WHEREAS, the Board of County Commissioners of Indian River County, Florida (the "Board" and the "County", respectively), by Resolution No. 93- 145, duly adopted on August 17, 1993 (the "Resolution"), authorized the issuance of Recreational Revenue Refunding Bonds, Series 1993, in an aggregate principal amount not to exceed $9,875,000 (the "Bonds") and authorized the retirement of the Retired Bonds, as defined in the Resolution; WHEREAS, it is necessary and desirable to specify certain terms and provisions with respect to the Bonds; } WHEREAS, the County deems it in its long term best interest that the Bonds i be sold at this time at private sale by negotiation; WHEREAS, William R. Hough & Co. (the "Purchaser"), has offered to purchase the Bonds on the terms and conditions hereinafter described;