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2024-023
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Last modified
6/7/2024 12:34:02 PM
Creation date
6/7/2024 12:29:12 PM
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Resolutions
Resolution Number
2024-023
Approved Date
06/04/2024
Agenda Item Number
8.K.
Resolution Type
Supplementing Resolution 2023-004
General Obligaton Bond
Entity Name
Indian River County
Subject
General Obligations Bond Preserving Environmentally Sensitive Lands
Authorizing the issuance of not exceeding $25,000,000 in aggregate principal
amount of Indian River County, Florida
Document Relationships
2023-004
(Agenda)
Path:
\Resolutions\2020's\2023
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Bonds will be evidenced by book -entry only. As long as Cede & Co. is the registered <br />owner as nominee of DTC, payments of principal, interest and premium, if any, will be <br />made directly to such registered owner which will in turn remit such payments to the Direct <br />Participants for subsequent disbursement to the Beneficial Owners. See "DESCRIPTION <br />OF THE SERIES 2024 BONDS — Book Entry Only System" herein. <br />The Series 2024 Bonds are being issued for the purpose of (1) financing costs of the <br />acquisition and, preservation of certain environmentally sensitive lands, and the <br />construction of public access improvements with respect thereto, as described in the plans <br />and specifications on file with the County, and (2) paying certain costs and expenses <br />relating to the issuance of the Series 2024 Bonds. <br />The Series 2024 Bonds are being issued by the County under the authority of Article <br />VII, Section 12 of the Constitution of the State of Florida, Chapter 125, Florida Statutes, <br />and other applicable provisions of law, and pursuant Resolution No. 2023-004 adopted by <br />the Board of County Commissioners (the "Board") of the County on January 31, 2023, as <br />supplemented by Resolution No. adopted by the Board on June _, 2024 <br />(collectively, the 'Bond Resolution"). The issuance of certain general obligation bonds <br />such as the Series 2024 Bonds was approved by a majority of the qualified electors of the <br />County voting in a bond referendum held on November 8, 2022 and validated by a <br />judgment of the Circuit Court of the Nineteenth Judicial Circuit of the State of Florida, in <br />and for the County, on April 27, 2023. <br />The Series 2024 Bonds are subject to redemption prior to their stated maturities, as <br />more particularly described herein. See "DESCRIPTION OF THE SERIES 2024 BONDS <br />— Redemption Provisions" herein. <br />The Series 2024 Bonds are general obligation bonds of the County to which the full <br />faith, credit and taxing power of the County are irrevocably pledged in the manner and to <br />the extent described in the Bond Resolution. The Series 2024 Bonds are payable from ad <br />valorem taxes levied without limitation as to rate or amount on all taxable property within <br />the County sufficient in amount to pay the principal of and interest on the Series 2024 <br />Bonds. See "SECURITY FOR THE SERIES 2024 BONDS" herein. <br />SEE INSIDE COVER PAGE FOR THE MATURITY SCHEDULE <br />This cover page and the inside cover page contains certain information for quick <br />reference only. They are not, and are not intended to be, a summary of this issue. Investors <br />must read the entire Official Statement, including the Appendices, to obtain information <br />essential to the making of an informed investment decision. <br />Electronic bids only for the Series 2024 Bonds pursuant to the provisions of the <br />Notice of Sale will be received by the County pursuant to the IHS Markit's <br />
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