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s <br />40 <br />RESOLUTION NO. 85-39 <br />A RESOLUTION AWARDING A $2,750,700 WATER <br />AND SEWER REVENUE BOND, SERIES 1982, OF <br />INDIAN RIVER COUNTY, FLORIDA, TO FARMERS <br />HOME ADMINISTRATION AT NEGOTIATED SALE; <br />AND PROVIDING AN EFFECTIVE DATF_ <br />BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF <br />INDIAN RIVER COUNTY, FLORIDA (the "Issuer"), as follows: <br />SECTION 1. AUTHORITY FOR RESOLUTION. This resolution <br />is adopted pursuant to Chapter 159, Florida Statutes (1983), and <br />other applicable provisions of law. <br />SECTION 2. FINDINGS. It is hereby ascertained, deter- <br />mined and declared that: <br />A. On July 7, 1982, the Board of County Commissioners <br />of the Issuer duly adopted a resolution (the "Resolution") <br />authorizing the issuance of not exceeding $2,750,700 aggregate <br />principal amount of Water and Sewer Revenue Bonds, Series 1982, <br />of the Issuer (the "Bonds"), for the purpose expressed therein. <br />B. Due to the characteristics of the Bonds and pre- <br />vailing municipal bond market conditions, it is necessary, <br />desirable and in the best public interest that the Bonds be sold <br />at negotiated sale to the U. S. Department of Agriculture, <br />Farmers Home Administration (the "Government"), at the price of <br />par, bearing interest at the rate of 5% per annum, since such <br />terms are substantially more favorable than the Issuer could <br />reasonably expect to receive if the Bonds were sold at public <br />sale. <br />SECTION 3. AWARD OF BONDS. The Bonds are hereby <br />awarded and sold to the Government at the price of par, bearing <br />interest at the rate of 5% per annum, and shall be issued in the <br />form of a single, fully -registered bond, payable in installments, <br />as provided in the Resolution. <br />SECTION 4. EFFECTIVE DATE. This resolution shall take <br />effect immediately upon its adoption. <br />-1- <br />