Laserfiche WebLink
Comprehensive Financial Report" attached hereto, Note 15, for additional information on <br />the County's post -employment benefit plans. <br />RISK FACTORS <br />General <br />The purchase of the Series 2025 Bonds involves a degree of risk, as is the case with <br />all investments. Factors that could affect the County's ability to perform its obligations <br />under the Resolution, including the timely payment of principal of and interest on the Series <br />2025 Bonds, include, but are not necessarily limited to, the following: <br />Limited Special Obligations <br />The Series 2025 Bonds are limited, special obligations of the County, the principal <br />of, premium, if any, and interest on which are payable from and secured solely by the <br />covenant to budget and appropriate Non -Ad Valorem Revenues described herein. <br />THE SERIES 2025 BONDS DO NOT CONSTITUTE A GENERAL <br />OBLIGATION OR INDEBTEDNESS OF THE COUNTY AND ARE NOT "BONDS" <br />WITHIN THE MEANING OF THE CONSTITUTION OF THE STATE OF FLORIDA. <br />NO REGISTERED OWNER OR BENEFICIAL OWNER OF ANY SERIES 2025 BOND <br />WILL EVER HAVE THE RIGHT (1) TO COMPEL THE LEVY OF AD VALOREM <br />TAXES TO PAY PRINCIPAL OF, PREMIUM, IF ANY, OR INTEREST ON THE <br />SERIES 2025 BONDS, OR (2) TO COMPEL THE COUNTY TO PAY THE PRINCIPAL, <br />PREMIUM, IF ANY, AND INTEREST ON THE SERIES 2025 BONDS FROM ANY <br />FUNDS OF THE COUNTY OTHER THAN NON -AD VALOREM REVENUES <br />APPROPRIATED IN THE MANNER PROVIDED IN THE RESOLUTION. THE <br />PRINCIPAL OF, PREMIUM, IF ANY, AND INTEREST ON THE SERIES 2025 BONDS <br />DO NOT CONSTITUTE A LIEN ON ANY PROPERTY OF OR IN THE COUNTY. <br />Economic Factors <br />The security for the Series 2025 Bonds consists primarily of the Non -Ad Valorem <br />Tax Revenues received by the County. Worsening economic conditions could impact the <br />County's ability to pay principal and interest on the Series 2025 Bonds. See "SECURITY <br />FOR THE SERIES 2025 BONDS — Covenant to Budget and Appropriate" and <br />"GENERAL INFORMATION REGARDING NON -AD VALOREM REVENUES" <br />herein. See "APPENDIX A - General Information Regarding Indian River County" <br />attached hereto. <br />43 <br />