1996-042 - Laserfiche WebLink

Home Browse Search

$43,000,000 INDIAN RIVER COUNTY, FLORIDA WATER AND SEWER REVENUE BONDS, SERIES 1996 BOND PURCHASE CONTRACT Indian River County 1840 25th Street Vero Beach, Florida 32960 Ladies and Gentlemen: William R. Hough & Co. and Smith Bamey; Inc., (the "Underwriters"), hereby offer to enter into this Bond Purchase Contract with Indian River County, Florida (the "Issuer"), for the purchase by the Underwriters and the sale by the Issuer of the Bonds referred to in Section 1 hereof. This offer is made subject to acceptance by the Issuer of this Bond Purchase Contract, evidenced by action taken by the Issuer on 1996, and by the execution of this Bond Purchase Contract by duly authorized officers of the Issuer forthwith after such action has been taken. Upon such acceptance and execution, this Bond Purchase Contract shall be in full force and effect in accordance with its terms and shall be binding upon the Issuer and the Underwriters. 1. Agreement to Upon the terms and conditions and in reliance on the representations and covenants hereinafter set forth, the Underwriters hereby agree to purchase from the Issuer, and the Issuer hereby agrees to sell to the Underwriters, all (but not less than all) of S in aggregate principal amount of the Issuer's Water and Sewer Revenue Bonds, Series 19%. at an aggregate purchase price of $ which takes into account an Underwriters's discount of $_ _, and an original issue discount of S , plus accrued interest thereon from March 1, 1996, to the date of Closing (hereinafter defined) in the amount of $ The statement required by Section 218.385 (2)(3) and (6), Florida Statutes, is attached hereto as Exhibit A. 2. Description of Bonds. The Bonds are described in, and will be issued and secured under and pursuant to the authority of the Constitution and laws of the State of Florida including Chapter 125, Florida Statutes and other applicable provisions of the law (the Act) and Indian River County Resolution No. 93-80 as amended and supplemented (collectively, the "Resolution") including, but not limited to amendments and supplements made by Resolution No. 96-30 adopted by the County on February 20, 1996, and amendments and supplements made by Resolution No. adopted by the County on _. The Bonds shall mature in such years and in the amounts, shall bear interest payable on March 1 and September 1 of each year commencing on September 1, 1996, at the rates set forth in Exhibit B attached hereto and shall be subject to optional redemption at the times and price set forth in Exhibit C attached hereto. In addition, in connection with the issuance of the Bonds, Financial Guaranty Insurance Company ("FGIC") will issue a municipal bond insurance policy (the "Insurance Policy") insuring payment of the Bonds, dated the day of the Closing. 3. cerin . The Underwriters intends intend to make an offering of all of the Bonds at not in excess of the offering price (or yield) set forth on the cover page of the Official Statement referred to in Section 4 hereof. The Underwriters, however, ftwryes reserve the right to change such offering price (or yield) as the Underwriters shall deem necessary in connection with the marketing of the Bonds at any time.