1983-027 - Laserfiche WebLink

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PAYING AGENTS. The principal of and interest on the Bonds will be payable at the Florida National Bank, Jacksonville, Florida. SECURITY. The Bonds will be valid and binding general obligations Of the County for which the full fait'1 and credit of the County is irrevocably pledged. The authorizing resolution provides that so long as any of the Bonds shall be outstanding, there shall be levied, assessed and collected an ad valorem tax, unli- mited as to rate or amount, upon all taxable property within the County sufficient in amount to pay the principal of and interest on the Bonds as the same become due. The issuance of the Bonds was approved by the qualified electors of the County at an elec- tion duly called and held in the County on November 2, 1982. PURPOSE. The Bonds were authorized by a resolution duly adopted by the County on November 17, 1982, as supplemented, and are to be issued for the purpose of financing the cost of acquiring beachfront land on the Atlantic Ocean in the County for recrea- tional purposes. PROPOSALS. Proposals are desired on forms which will be furnished by the County and envelopes containing Proposals should have endorsed thereon "Proposals for $5,000,000 Indian River County, Florida, General Obligation Bonds; Do Not Open Until 11:00 A.M., Eastern Standard Time, Wednesday, April 20, 1983", or words of equivalent import, and should be addressed to the Board of County Commissioners at the above address. Each Proposal must be accompanied by a certified or bank cashier's check, drawn on an incorporated bank or trust company payable unconditionally to the order of the County, in a sum equal to two percent (2%) of the par value of the Bonds, as evi- dence of good faith. If the successful bidder shall fail to comply promptly with the terms of his Proposal, the amount of such check will be forfeited as liquidated damages. The good faith check of unsuccessful bidders will be returned to the bid- ders by registered mail at the address stated in their Proposals, or delivered to a representative of the bidder immediately after the award of the Bonds to the successful bidder. The proceeds of -3-