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approving the form of an authorizing the execution and delivery of an Escrow Deposit Agreement between the County and the Escrow Holder, Appointing an Escrow Holder; and authorizing other required actions. RESOLUTION NO. 2000- 086 A RESOLUTION OF INDIAN RIVER COUNTY. FLORIDA PROVIDING FOR THE DEFEASANCE OF THE OUTSTANDING INDIAN RIVER COUNTY, FLORIDA REFUNDING REVENUE BONDS, SERIES 1992; APPROVING THE FORM OF AND AUTHORIZING THE EXECUTION AND DELIVERY OF AN ESCROW DEPOSIT AGREEMENT BETWEEN THE COUNTY AND THE ESCROW HOLDER; APPOINTING AN ESCROW HOLDER. AUTHORIZING OTHER REQUIRED ACTIONS; PROVIDING FOR SEVERABILITY AND AN EFFECTIVE DATE. BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA: SECTION 1. AUTHORITY FOR THIS RESOLUTION. This Resolution is adopted pursuant to the provisions of Chapter 125, Florida Statutes, County Home Rule Ordinance No. 77-19, enacted August 3, 1977 and effective August 9, 1977, as amended, and other applicable provisions of law. SECTION 2. FINDINGS. It is hereby found and determined that: A. Pursuant to Resolution No. 92-216 adopted by the County Commission on November 24. 1992 (the "1992 Bond Resolution, together with the 1985 Bond Resolution. the "Bond Resolution, ), the County has previously issued and sold its Refunding Revenue Bonds. Series 1992 (the "Series 1992 Bonds"). B. The County has determined that it has sufficient available funds, together with funds on deposit in the funds and accounts securing the Series 1992 Bonds to use to defease all of the outstanding Series 1992 Bonds and to pay the costs of such defeasance. SECTION 3. AUTHORIZATION OF DEFEASANCE. There is hereby authorized the defeasance all of the Series 1992 Bonds set forth in Exhibit A hereto on the respective call date set forth on Exhibit A hereto, and the payment of all costs associated therewith. SECTION 4. APPROVAL OF THE ESCROW DEPOSIT AGREEMENT. The Escrow Deposit Agreement in substantially the form attached hereto as Exhibit B is hereby approved and the C'hainnan or Vice -Chairman and the Clerk are hereby authorized and directed to execute and deliver the Escrow Deposit Agreement on behalf of and in the name of the County, with such additional changes, insertions and omissions therein as may be otherwise made and approved by said officers of the County executing the same, such execution to be conclusive evidence of such approval. August 15, 2000 70