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„Gr,EIIWrU'C s&Soa 1nG <br />December p �- 1987 <br />County of Inrli.an River, Florin? <br />1.840 25th street <br />Vero Reach, F'l, 17960 <br />+un rbni aeik/we-Ark.tn KjW <br />$01 Laurd OWA Lone, Suite NN <br />N,p n. Ft ))%) <br />to M -:rig <br />Re: x9,200,000 IniiAn Rtver CouOt:y, F'Iorl tn__ 't <br />Water and S,A*d+r Pivenu” Hong-., `,=riser 1?,4r,, <br />I.adiess and rentlemrn: <br />In c:onno�ction with rho prnp,n:sed Issue by Indian River <br />Costnty, Florida (th<, "Cnnnty") of $9,700,000 principal amount <br />of Indian River. Cnisnty, Florida Nater and sewer Revenue <br />Benda, "erien 1986, Ant .ic.Ipati<on ttote:s, (the "Notes") <br />A. G. F,dward I. ';onrs, Ine:, and Paynen i Jn"a i Associates, <br />Inc. (the "un,P-rwrit:nr..s") iro to underwrite a public Offerinry <br />of the Note!:. Arran p.,+ent.n for underwrlt.tnl t.hp Bonds will <br />ineludn :i Note F'urc:hone Agrsement botwe.en the County and the <br />Underwr I to 1.!;. <br />'I'he purpo:ne of t.hirs Lotter IT; to furni::h, pursuant to <br />trip provisions or .'.r,,.:t..ton 21A.1s15(4), Florid,% Statutes, as <br />amended, certain Information In renprct or the arrangements <br />contemplated for the undotwritinrt of the Nnten an follow:;: <br />(a) The nature and estimated amounts of <br />expenses to he incurred by the Underwriters in <br />connection with the purchase and renffe.ring of thn <br />Notes are not forth in Schedule I att•:iched hereto. <br />(b) No person has entered into an understanding <br />with the Underwriters or, to the knowledge of the <br />Underwriters, with tho County for any paid or promised <br />compensation or valuable consideration, directly or <br />indirectly, expressly or Implied, to act solely as an <br />intermediary between the County and the Underwriters or <br />to exercise or attempt to exercise any influence to <br />effect any transaction in the purchase of the Notes. <br />(c) The underwriting spread (i.e., the diffe- <br />rence between the price at which the Notes will be <br />initially offered to the public by the Underwriters(/OL% <br />of the principal amount) and he rice to be paid to <br />the County for the Notes <br />(J:?. 17 � of the principal <br />amount), exclusive of accrued interest in both cases) <br />will be,., <br />of the principal amount of the Notes. <br />FXH(9Ii "(� 0 <br />