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WHEREAS, after due consideration it appears that the pro- <br />posal of Smith Barney Harris Upham of Tampa, Florida <br />ssoc. <br />offering to pay the sum of $ 4,970,017_60 plus accrued <br />interest from April 1, 1983, for said Bonds, bearing interest at <br />the rates hereinafter set forth, is the best bid received; now, <br />therefore, <br />BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF <br />INDIAN RIVER COUNTY, FLORIDA: <br />SECTION 1. The $5,000,000 General Obligation Bonds, dated <br />April 1, 1983, offered for public sale on sealed bids, shall bear <br />interest, payable on October 1, 1983, and semiannually thereafter <br />on April 1 and October 1, at the rates per annum, as follows: <br />INTEREST <br />YEAR AMOUNT RATE <br />1984 <br />$ 890,000 <br />6.00 <br />1985 <br />940,000 <br />6.00% <br />1986 <br />990,000 <br />6.10% <br />1987 <br />1,055,000 <br />6.30% <br />1988 <br />1,125,000 <br />6.50% <br />SECTION 2. Said Bonds be, and the same are hereby awarded <br />and sold to Smith Barney Harris Upham & Assoc. , of Tampa <br />Florida , at the purchase price of $ 4,970,017.60 <br />and accrued interest from April 1, 1983, to the date of delivery <br />thereof, bearing interest at the rates per annum set forth in <br />Section 1 hereof. <br />SECTION 3. The Bonds shall be payable as to both prin- <br />cipal and interest at the Florida National Bank, Jacksonville, <br />Florida. <br />SECTION 4. The distribution of the Preliminary Official <br />Statement is hereby ratified and confirmed and the proper officers <br />of the County be and they are hereby authorized and directed to <br />execute a final Official Statement and to deliver same to the <br />Purchaser of the Bonds upon the delivery thereof. <br />SECTION 5. The proper officers of the County be and they <br />are hereby authorized and directed to execute the Bonds when pre- <br />-2- <br />