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WHEREAS, it is necessary and appropriate to authorize <br />and approve certain details and provisions with respect to the <br />Series 1987 Bonds; and <br />WHEREAS, this County desires to appoint a Paying Agent <br />and Bond Registrar for the Series 1987 Bonds, to authorize the <br />printing of an insurance legend on the Series 1987 Bonds, and to <br />authorize the execution and distribution of an Official Statement <br />therefor; and <br />WHEREAS, Smith Barney, Harris Upham & Co. Incorporated, <br />Tampa, Florida (the "Purchaser") has offered to purchase the <br />Series 1987 Bonds at a total price of $3,621,965 plus accrued <br />interest from July 1, 1987, to the date of delivery thereof, <br />bearing interest, maturing at such times and in such amounts and <br />containing such other terms and provisions as are hereinafter <br />stated. <br />NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY <br />COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA: <br />.SECTION 1. (a) $3,655,000 aggregate principal amount <br />of Capital Improvement Revenue Bonds, Series 1987 (the "Series <br />1987 Bonds"), shall be issued at this time, shall be dated as of <br />July 1, 1987, shall be in fully registered form, shall be in the <br />denominations of $5,000 or any integral multiple thereof, shall <br />bear interest payable initially on September 1, 1987, and <br />semiannually thereafter on March 1 and September 1 of each year <br />until the principal amount thereof is paid, by check mailed to the <br />Registered Owner thereof whose address appears as set forth on the <br />registration books of the County fifteen (15) days prior to each <br />