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EXHIBIT A $43,000,000 INDIAN RIVER COUNTY, FLORIDA WATER AND SEWER REVENUE BONDS, SERIES 1996 DISCLOSURE STATEMENT County Commission of the Indian River County Indian River, Florida Ladies and Gentlemen: In connection with the proposed issuance by the Indian River County, Florida (the "Issuer") of $ ,000 principal amount of the issue of bonds referred to above (the "Bonds"), William R. Hough & Co. and Smith Barney, Inc. (the "Underwriters"), are underwriting a public offering of the Bonds. Arrangements for underwriting the Bonds will include a Bond Purchase Contract between the Issuer and the Underwriters. The purpose of this letter is to furnish, pursuant to the provisions of Section 218.385(6), Florida Statutes, as amended, certain information in respect to the arrangement contemplated for the underwriting of the Bonds as follows: (a) The nature and estimated amount of expenses to be incurred by the Underwriters and paid by the Underwriters in connection with the purchase and reoffering of the Bonds are set forth on Schedule I attached hereto. (b) No person has entered into an understanding with the Underwriters, or to the knowledge of the Underwriters, with the Issuer for any paid or promised compensation or valuable consideration, directly or indirectly, expressly or implied, to act solely as an intermediary between the Issuer and the Underwriters or to exercise or attempt to exercise any influence to effect any transaction in the purchase of the Bonds. (c) The amount of underwriting spread, including the management fee, expected to be realized is as follows: Per $1,000 Bod Takedown $ Underwriters' Expenses y Total Underwriting Spread $. (d) No other fee, bonus or other compensation is estimated to be paid by the Underwriters in connection with the issuance of the Bonds to any person not regularly employed or retained by the Underwriters (including any "finder", as defined in Section 218.386(1)(a), Florida Statutes ), except as specifically enumerated as expenses to be incurred and paid by the Underwriters, as set forth in Schedule I attached hereto.