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EXECUTION COPY RESOLUTION NO. 2015 - 01 `i RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA AMENDING AND SUPPLEMENTING RESOLUTION NO. 93- 80 OF THE COUNTY, AS PREVIOUSLY AMENDED AND SUPPLEMENTED; AUTHORIZING THE ISSUANCE OF $7,171,000 IN PRINCIPAL AMOUNT OF ITS WATER AND SEWER REVENUE REFUNDING NOTE, SERIES 2015, IN ORDER TO REFUND A PORTION OF THE COUNTY'S WATER AND SEWER REVENUE REFUNDING BONDS, SERIES 2005; MAKING CERTAIN OTHER COVENANTS AND AGREEMENTS IN CONNECTION WITH THE ISSUANCE OF SUCH NOTE; PROVIDING CERTAIN TERMS AND DETAILS OF SUCH NOTE, INCLUDING AUTHORIZING THE SALE OF SAID NOTE TO WHITNEY BANK D/B/A HANCOCK BANK; APPOINTING THE PAYING AGENT AND REGISTRAR WITH RESPECT TO SAID NOTE; AUTHORIZING THE DELIVERY OF A DIRECTION LETTER REGARDING THE REFUNDING; AND PROVIDING AN EFFECTIVE DATE. BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, as follows: SECTION 1. FINDINGS. It is hereby found and determined that: (A) On April 13, 1993, the Board of County Commissioners of Indian River County, Florida (the "County" or "Issuer") duly adopted Resolution No. 93-80, which was amended and supplemented by Resolution No. 2005-021, adopted February 15, 2005 and Resolution No. 118, adopted July 21, 2009 (as amended and supplemented prior to the date hereof, the "Original Resolution.") (B) The Original Resolution, as amended and supplemented hereby, is referred to herein as the "Bond Resolution." (C) The Original Resolution provides for the issuance of Additional Parity Bonds, upon meeting the requirements set forth in the Original Resolution. (D) The County deems it to be in the best interests of its citizens and taxpayers to issue its Water and Sewer Revenue Refunding Note, Series 2015 (the "Series 2015 Note") for the purpose of 1