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SECTION 2. The redemption provisions for the Bonds shall
<br />be as follows:
<br />The bonds maturing in the years 1982 through 1991
<br />shall not be redeemable prior to maturity. The bonds
<br />maturing in the years 1992 and thereafter shall be
<br />redeemable, at the option of the County, on October 1,
<br />1991, or on any interest payment date thereafter, at
<br />the price of par and accrued interest to the date of
<br />redemption plus a premium of 38 0£ the par value thereof
<br />if redeemed in 1991. Such premium shall reduce at the
<br />rate of 1/4 of 18 on each October 1 thereafter.
<br />SECTION 3. The Bonds shall be payable as to both prin-
<br />cipal
<br />r.in-cipal and interest at Florida National Bank, Jacksonville, Florida ,
<br />Florida.
<br />SECTION 4. The Board, in compliance with Section
<br />218.385(2)(a), Florida Statutes, hereby finds, determines and
<br />declares that a negotiated sale of the Bonds is in the best
<br />interests of the County for the following reasons:
<br />(1) The Bonds will not be submitted for rating by any
<br />of the rating agencies because the Board has been advised that a
<br />satisfactory rating would not be received;
<br />(2) The extremely small size of the issue does not make
<br />it feasible to sell the Bonds at public sale; and
<br />(3) Because of the junior lien position of the Bonds,
<br />the narrow coverage factor and the security for the Bonds, the
<br />Board has been advised that no bids would be received at a public
<br />sale.
<br />SECTION 5. The Bonds are hereby awarded and sold to the
<br />Purchaser at the price of $ 688,750 and accrued interest
<br />from October 1, 1981, to the date of delivery thereof, said Bonds
<br />to bear interest at the rates set forth in Section. 1 hereof,
<br />-2-
<br />Interest
<br />Interest
<br />Year
<br />Amount
<br />Rate
<br />Year
<br />Amount
<br />Rate
<br />1982
<br />$ 5,000
<br />13.808
<br />1992
<br />$30,000
<br />13.80%
<br />1983
<br />5,000
<br />13.80
<br />1993
<br />35,000
<br />13.80
<br />1984
<br />10,000
<br />13.80
<br />1994
<br />40,000
<br />13.80
<br />1985
<br />10,000
<br />13.80
<br />1995
<br />45,000
<br />13.80
<br />1986
<br />10,000
<br />13.80
<br />1996
<br />50,000
<br />13.80
<br />1987
<br />15,000
<br />13.80
<br />1997
<br />60,000
<br />13.80
<br />1988
<br />20,000
<br />13.80
<br />1998
<br />65,000
<br />13.80
<br />1989
<br />20,000
<br />13.80
<br />1999
<br />75,000
<br />13.80
<br />1990
<br />25,000
<br />13.80
<br />2000
<br />85,000
<br />13.80
<br />19991
<br />30.000
<br />13:80
<br />2001
<br />90.000
<br />1.3.80
<br />SECTION 2. The redemption provisions for the Bonds shall
<br />be as follows:
<br />The bonds maturing in the years 1982 through 1991
<br />shall not be redeemable prior to maturity. The bonds
<br />maturing in the years 1992 and thereafter shall be
<br />redeemable, at the option of the County, on October 1,
<br />1991, or on any interest payment date thereafter, at
<br />the price of par and accrued interest to the date of
<br />redemption plus a premium of 38 0£ the par value thereof
<br />if redeemed in 1991. Such premium shall reduce at the
<br />rate of 1/4 of 18 on each October 1 thereafter.
<br />SECTION 3. The Bonds shall be payable as to both prin-
<br />cipal
<br />r.in-cipal and interest at Florida National Bank, Jacksonville, Florida ,
<br />Florida.
<br />SECTION 4. The Board, in compliance with Section
<br />218.385(2)(a), Florida Statutes, hereby finds, determines and
<br />declares that a negotiated sale of the Bonds is in the best
<br />interests of the County for the following reasons:
<br />(1) The Bonds will not be submitted for rating by any
<br />of the rating agencies because the Board has been advised that a
<br />satisfactory rating would not be received;
<br />(2) The extremely small size of the issue does not make
<br />it feasible to sell the Bonds at public sale; and
<br />(3) Because of the junior lien position of the Bonds,
<br />the narrow coverage factor and the security for the Bonds, the
<br />Board has been advised that no bids would be received at a public
<br />sale.
<br />SECTION 5. The Bonds are hereby awarded and sold to the
<br />Purchaser at the price of $ 688,750 and accrued interest
<br />from October 1, 1981, to the date of delivery thereof, said Bonds
<br />to bear interest at the rates set forth in Section. 1 hereof,
<br />-2-
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