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NOTICE OF DEFEASANCE <br />CUSIP NUMBERS: <br />SCHEDULE C <br />Notice is hereby given by Indian River County, Florida (the "Issuer") of the defeasance of <br />the Issuer's Limited General Obligation Bonds, Series 2006 maturing in the years 2017 through <br />2021 (the "Refunded Bonds"). The Issuer has caused to be deposited in trust with The Bank of <br />New York Mellon Trust Company, N.A., pursuant to an Escrow Deposit Agreement, dated as of <br />April 1, 2015 (the "Escrow Deposit Agreement") obligations of the United States of America the <br />principal and interest on which will be available for the payment of interest on the Refunded <br />Bonds through July 1, 2016 and to redeem the Refunded Bonds on July 1, 2016 at a price of <br />100% of the principal amount thereof. <br />In accordance with the provisions of Resolution No. 2005-059, adopted May 17, 2005, as <br />amended and supplemented, the Refunded Bonds have been paid and the holders thereof shall <br />have the right to look only to amounts held pursuant to the Escrow Deposit Agreement for <br />payment of the Refunded Bonds. The Refunded Bonds will be redeemed in full on July 1, 2016. <br />This notice is an informational notice only and is not a notice of redemption. No action is <br />required of registered owners of Refunded Bonds at this time. Registered owners of Refunded <br />Bonds will be notified at least 30 days prior to July 1, 2016 of the redemption of the Refunded <br />Bonds on July 1, 2016, which notice will include the correct address for forwarding of bonds for <br />payment. <br />INDIAN RIVER COUNTY, FLORIDA <br />/s/ Wesley S. Davis <br />Chairman <br />