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t <br />the sale thereof; <br />WHEREAS, the County desires to appoint a Paying Agent <br />and Bond Registrar for the Bonds, to ratify the distribution of a <br />Preliminary Official Statement and to authorize the execution and <br />distribution of an Official Statement therefor; <br />WHEREAS, Gulfstream Financial Associates, Inc., as <br />manager (the "Purchaser"), has offered to purchase the Bonds on <br />the terms and conditions hereinafter described; and <br />WHEREAS, it is necessary and desirable to authorize the <br />purchase, redemption and retirement of certain outstanding bonds of <br />the County. <br />NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY <br />COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA: <br />SECTION 1. The Bonds shall be in the aggregate <br />principal amount of $6,510,000, shall be dated as of April 15, <br />1989, shall be in fully registered form, shall be in denominations <br />Of $5,000 or any integral multiple thereof, shall bear interest <br />payable semiannually on May 1 and November 1 of each year, <br />commencing November 1, 1989, until the principal amount thereof is <br />paid, by check mailed by the Paying Agent to the Registered Owner <br />thereof at his address as the same appear on the registration books <br />kept by the Bond Registrar on behalf of the County at 5:00 p.m. <br />local time at the location of the Bond Registrar on the fifteenth <br />(15th) day of the month immediately preceding the applicable <br />interest payment date, at the interest rates per annum set forth in <br />the Preliminary Official Statement hereinafter referred to, shall <br />2 <br />