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CONTINUING DISCLOSURE <br />The County has covenanted for the benefit of the holders and beneficial owners of the Series 1996 Bonds <br />to provide certain fmancial information and operating data relating to the County by not later than June 1 in <br />each year commencing June 1, 1997 (the "Annual Report"), and to provide notices of the occurrence of certain <br />enumerated events, if deemed by the County to be material. The Annual Report will be filed by the County with <br />each Nationally Recognized Municipal Securities Information Repository ("NRMSIR"), and with the State of <br />Florida Repository, if and when created. The notices of material events will be filed by the County with the <br />NRMSIR and with the State of Florida Repository, if and when created. The specific nature of the information <br />to be contained in the Annual Report or the notices of material events is summarized below under the caption <br />"APPENDIX E - Summary of Continuing Disclosure Certificate." These covenants have been made in order <br />to assist the Underwriters in complying with S.E.C. Rule 15c2 -12(b)(5). The County has never failed to comply <br />in all material respects with any previous undertakings with regard to said Rule to provide annual reports or <br />notices of material events. <br />AUTHORIZATION OF OFFICIAL STATEMENT <br />The delivery of this Official Statement has been duly authorized by the Board of County Commissioners <br />of the County. At the time of delivery of the Series 1996 Bonds, the Chairman of the Board of County <br />Commissioners ad the County Administrator, acting on behalf of the County, will furnish a certificate to the <br />effect that nothing has come to their attention which would lead them to believe that the Official Statement, as <br />of its date and as of the delivery of the Series 1996 Bonds, contains an untrue statement of a material fact or <br />omits to state a material fact which should be included therein for the purposes for which the Official Statement <br />is intended to be used, or which is necessary to make the statements contained therein, in the fight of the <br />circumstances under which they were made, not misleading. <br />INDIAN RIVER COUNTY, FLORIDA <br />Fran B. Adams, Chairman <br />Board of County Commissioners <br />James E. Chandler <br />County Administrator <br />30 <br />