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TABLE OF CONTENTS <br />Page <br />INTRODUCTION...............................................................................................................1 <br />INDIAN RIVER COUNTY................................................................................................ <br />2 <br />ESTIMATED SOURCES AND USES OF FUNDS...........................................................4 <br />DEBTSERVICE SCHEDULE........................................................................................... <br />5 <br />DESCRIPTION OF THE SERIES 2024 BONDS.............................................................. <br />6 <br />General............................................................................................................................. <br />6 <br />Book -Entry Only System................................................................................................. <br />6 <br />Transfer of Series 2024 Bonds........................................................................................ <br />9 <br />Redemption Provisions..................................................................................................10 <br />Selection of Series 2024 Bonds to be Redeemed.......................................................... <br />11 <br />Noticeof Redemption.................................................................................................... <br />l I <br />Redemption of Portions of Series 2024 Bonds.............................................................. <br />12 <br />Payment of Redeemed Series 2024 Bonds.................................................................... <br />12 <br />Purchase in Lieu of Optional Redemption....................................................................13 <br />SECURITY FOR THE SERIES 2024 BONDS................................................................14 <br />General...........................................................................................................................14 <br />Establishment of Funds and Accounts...........................................................................14 <br />NoDebt Service Reserve............................................................................................... <br />15 <br />Investments in Funds and Accounts.............................................................................. <br />15 <br />AD VALOREM TAXATION...........................................................................................16 <br />General...........................................................................................................................16 <br />Procedure for Property Assessment............................................................................... <br />16 <br />Settingthe Millage......................................................................................................... <br />18 <br />Historical and Current Millages..................................................................................... <br />18 <br />Procedures for Tax Collection and Distribution............................................................ <br />19 <br />Assessed Value of Taxable Property............................................................................. <br />21 <br />Ad Valorem Tax Levies and Collections...................................................................... <br />22 <br />PrincipalTaxpayers....................................................................................................... <br />23 <br />Constitutional Amendments and Legislative Initiatives Affecting Ad Valorem Taxes <br />23 <br />EMPLOYEE RETIREMENT PLANS AND OTHER POST EMPLOYMENT <br />BENEFITS.................................................................................................................. <br />31 <br />EmployeeRetirement Plans........................................................................................... <br />31 <br />FRSInvestment Plan..................................................................................................... <br />40 <br />Other Post -Employment Benefit Plans.......................................................................... <br />42 <br />LITIGATION.................................................................................................................... <br />48 <br />LEGALMATTERS.......................................................................................................... <br />49 <br />ENFORCEABILITY OF REMEDIES.............................................................................. <br />49 <br />FINANCIALADVISOR................................................................................................... <br />50 <br />TAXMATTERS............................................................................................................... <br />50 <br />Opinionof Bond Counsel.............................................................................................. <br />50 <br />iv <br />