2015-070A - Laserfiche WebLink

Home Browse Search

5 CERTIFICATE AS TO ARBITRAGE AND CERTAIN OTHER TAX MATTERS I, Jeffrey R. Smith, Clerk of the Circuit Court and ex -officio Clerk of the Board of County Commissioners of Indian River County, Florida (the "Issuer"), with respect to the $20,369,000 Limited General Obligation Note, Series 2015 (the "Note"), dated April 9, 2015 and being issued this day, DO HEREBY CERTIFY that: 1. AUTHORIZATION AND DEFINITIONS. The Note is being issued pursuant to the authority contained in Chapter 125, Part I, Florida Statutes, and other applicable provisions of law, and Resolution No. 2005-059 of the Issuer, adopted May 17, 2005, as amended and supplemented, and particularly as supplemented by Resolution No. 2015-047 of the Issuer, adopted April 7, 2015 (collectively, the "Resolution"). The Note constitutes a "Bond" for purposes of the Resolution. The terms defined in the Resolution shall retain the meanings set forth therein when used in this Certificate unless the context clearly indicates another meaning is intended. Other terms used in this Certificate shall have the meanings set forth for same in other provisions hereof or in the Internal Revenue Code of 1986, as amended, and the applicable Treasury Regulations promulgated thereunder and under the Internal Revenue Code of 1954, as amended (collectively, the "Code") or in the Arbitrage Rebate Statement attached hereto as Exhibit A, in each case unless the context clearly indicates another meaning is intended. 2. PURPOSE; ALLOCATION. The Note is being issued to provide funds sufficient, together with other available moneys of the Issuer, to (i) refund the Issuer's Limited General Obligation Bonds, Series 2006, maturing in the years 2017 through 2021 (the "Refunded Bonds") and (ii) pay certain costs and expenses related to issuance of the Note. 3. FACTS, ESTIMATES AND CIRCUMSTANCES. On the basis of the facts, estimates and circumstances in existence on the date hereof, I reasonably expect the following with respect to the Note and with respect to the proceeds of the Note: (a) NET PROCEEDS (i) Total. The amount of proceeds received by the Issuer from the sale of the Note (the "Net Proceeds"), is the principal amount of $20,369,000.