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Board of County Commissioners Meeting Minutes - Final October 7, 2025 <br />U.C. 25-0957 Resolution Authorizing Capital Improvement Revenue Bonds for the <br />Sandridge Golf Club New Clubhouse <br />Recommended Action: The County Attorney's Office recommends that the Board approve the attached <br />Resolution. <br />Attachments: 10.7.25 Bond Resolution Final <br />Sandridge Golf Club Clubhouse Budget <br />County Attorney Jennifer Shuler presented a Resolution that authorized the issuance <br />of the County's Capital Improvement Revenue Bonds, Series 2025, in an amount not <br />to exceed $13,000,000. The proceeds from these bonds were intended for the <br />construction of a new clubhouse for the Sandridge Golf Club and for making related <br />improvements to the golf course. She stated the Bonds were expected to be sold <br />through a competitive sale. The Resolution approved the form of the Official Notice of <br />Sale, the Preliminary Official Statement, and the Continuing Disclosure Certificate <br />necessary for completing the sale. Additionally, it authorized the Chair and Clerk to <br />execute any further documents required for closing. The Resolution also established <br />the County's obligation to repay the bondholders, secured by a covenant that required <br />the County to budget and appropriate legally available non -ad valorem County <br />revenues. <br />There were no further discussions on the Item. <br />A motion was made by Commissioner Adams, seconded by Chairman Flescher, <br />to approve staff's recommendation and Resolution 2025-061, authorizing the <br />issuance of not exceeding $13,000,000 in aggregate principal amount of its Indian <br />River County, Florida Capital Improvement Revenue Bonds, Series 2025 to <br />provide funds to finance certain capital improvements within the County; <br />covenanting to budget and appropriate certain legally available non -ad valorem <br />revenues to pay debt service on the bonds; providing for the rights of the holders <br />of bonds issued hereunder; making certain other covenants and agreements in <br />connection with bonds issued hereunder; authorizing the awarding of said bonds <br />pursuant to a public bid; delegating certain authority to the Chairman for the <br />award of the bonds and the approval of the terms and details of said bonds; <br />authorizing the publication of an official notice of sale for the bonds or a <br />summary thereof; appointing the paying agent and registrar for said bonds; <br />authorizing the distribution of a preliminary Official Statement and the execution <br />and delivery of an Official Statement with respect to such bonds; authorizing the <br />execution; authorizing the execution and delivery of a continuing disclosure <br />certificate with respect to the bonds and the appointment of a dissemination <br />agent thereto; and providing for an effective date for this Resolution. The motion <br />carried by the following vote: <br />Aye: 5- Chairman Flescher, Vice Chairman Loar, Commissioner Adams, Commissioner <br />Earman, and Commissioner Moss <br />15. COMMISSIONERS MATTERS <br />Indian River County, Florida Page 23 <br />