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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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amount of the Series 2024 Bonds to be redeemed, plus interest accrued thereon to the date <br />of redemption, commencing on July 1, 20_, and on each July 1 in the following years and <br />in the following Amortization Installments: <br />Amortization <br />Year Installment <br />*Final Maturity <br />Selection of Series 2024 Bonds to be Redeemed <br />The Series 2024 Bonds shall be redeemed only in the principal amount of $5,000 <br />each and integral multiples thereof. The County shall, at least thirty-five (35) days prior to <br />the redemption date (unless a shorter time period shall be satisfactory to the Registrar, but <br />in no event less than twenty-five (25) days) notify the Registrar of such redemption date <br />and of the principal amount of Series 2024 Bonds to be redeemed. For purposes of any <br />redemption of less than all of the outstanding Series 2024 Bonds of a single maturity, the <br />particular Series 2024 Bonds or portions of Series 2024 Bonds to be redeemed shall be <br />selected not more than thirty-five (35) days and not less than twenty-five (25) days prior to <br />the redemption date by the Registrar from the Outstanding Series 2024 Bonds of the <br />maturity or maturities designated by the County or by such method as the Registrar shall <br />deem fair and appropriate and which may provide for the selection for redemption of Series <br />2024 Bonds or portions of Series 2024 Bonds in principal amounts of $5,000 and integral <br />multiples thereof. If less than all of a Term Bond is to be redeemed, the aggregate principal <br />amount to be redeemed shall be allocated to the Amortization Installments on a pro -rata <br />basis unless the Issuer, in its discretion, designates a different allocation. <br />Notice of Redemption <br />Notice of such redemption, which shall specify the Series 2024 Bond or Bonds (or <br />portions thereof) to be redeemed and the date and place for redemption, shall be given by <br />the Registrar on behalf of the County, and (A) shall be filed with the Paying Agent of such <br />Series 2024 Bonds and (B) shall be mailed first class, postage prepaid, at least twenty (20) <br />days prior to the redemption date to all Holders of Series 2024 Bonds to be redeemed at <br />their addresses as they appear on the registration books kept by the Registrar as of the date <br />of mailing of such notice. Failure to mail notice to the Holders of the Series 2024 Bonds to <br />be redeemed, or any defect therein, shall not affect the proceedings for redemption of Series <br />2024 Bonds as to which no such failure or defect has occurred. Failure of any Holder to <br />11 <br />
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