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EXECUTION COPY RESOLUTION NO. M 15. 0 9 5 A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, AUTHORIZING THE REDEMPTION OF A PORTION OF THE COUNTY'S WATER AND SEWER REVENUE REFUNDING BONDS, SERIES 2005; PROVIDING CERTAIN OTHER MATTERS IN CONNECTION THEREWITH; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, on March 9, 2005, the Board of County Commissioners of Indian River County, Florida (the "County" or the "Issuer") issued its Water and Sewer Revenue Refunding Bonds, Series 2005 (the "Series 2005 Bonds") pursuant to Resolution No. 93-80, as amended and supplemented (collectively, the "Existing Resolution") for purposes of refunding certain prior indebtedness; and WHEREAS, the Series 2005 Bonds are subject to optional redemption on and after September 1, 2015; and WHEREAS, the County desires to redeem a portion of the Series 2005 Bonds; NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, as follows: SECTION 1. AUTHORIZATION OF PARTIAL REDEMPTION. The County hereby authorizes the redemption, from available amounts derived from water and wastewater revenues, of up to $7,200,000 in aggregate principal amount of the Series 2005 Bonds on any date after September 1, 2015, the exact principal amount and date of redemption to be established by the County finance director. SECTION 2. AUTHORIZATION OF CERTAIN ACTION. The County hereby authorizes the publishing of a notice of redemption to accomplish the foregoing and the payment of all costs associated with such redemption. SECTION 3. GENERAL AUTHORITY. The members of the Board of County Commissioners of the County and the officers, attorneys and other agents or employees of the County and the Clerk are hereby authorized to do all acts and things required of them by this Resolution or the Existing Resolution, or desirable or consistent with the requirements hereof or the Existing Resolution, for the full punctual and complete performance hereof or thereof. Each member, employee, attorney and officer of the County is hereby authorized and directed to execute and deliver any and all papers and instruments and to be and cause to be done any and all acts and things necessary or proper for carrying out the transactions contemplated hereunder.