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• <br />WHEREAS, the Governing Body deems it necessary and <br />desirable at this time to fix the maturity and interest payment <br />dates for the Bonds, and to award the Bonds at negotiated sale to <br />the Purchaser, subject to the condition subsequent of an appeal <br />being taken from the validation proceeding for the Bonds within <br />the time prescribed by law; now, therefore, <br />BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF <br />INDIAN RIVER COUNTY, FLORIDA: <br />SECTION 1. REMAINING FISCAL DETAILS FOR BONDS. The <br />Bonds shall bear interest payable on February 1, 1983, the first <br />day of each month thereafter, and at maturity; and shall mature <br />on December 28, 1992. <br />SECTION 2. AWARD OF BONDS. The Bonds, in the form of a <br />single, fully registered Bond, are hereby awarded and sold to <br />Barnett Bank of South Florida, N.A., Miami, Florida, at the price <br />of par and upon the remaining terms and conditions of the Bond <br />Purchase Agreement, subject to the condition subsequent of an <br />appeal being taken from the validation proceeding for the Bonds <br />within the time prescribed by law. If an appeal is taken, the <br />Bonds shall be redelivered to the Issuer and the proceeds of <br />their sale repaid to the Purchaser in accordance with the terms <br />of the Escrow Agreement described below. The Governing Body <br />hereby authorizes and directs its Chairman to execute and its <br />Clerk to attest under the official seal of the Issuer, the Bond <br />Purchase Agreement. <br />SECTION 3. ESCROW AGREEMENT. The proceeds of the sale <br />of the Bonds, the Bonds and all closing documents shall be held <br />by Mr. Robert A. Koppen, Attorney at Law, in escrow pursuant to <br />an Escrow Agreement between the Issuer, the Purchaser, and the <br />escrow holder, a substantial form of which is attached hereto as <br />Exhibit B. The proper officers of the Governing Body are hereby <br />authorized to execute and seal the Escrow Agreement with such <br />changes, alterations and corrections as may be approved by the <br />Chairman of the Governing Body, such approval to be presumed by <br />his execution thereof. <br />SECTION 4. EFFECTIVE DATE. This resolution shall take <br />effect immediately upon its adoption. <br />-2- <br />