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> PRELIMINARY OFFICIAL STATEMENT DATED MARCH 7, 1996
<br />S
<br />This Prallmbtaty O&W Statement 6 "Deemed Final" by the County as of Its date for purposes o4
<br />NEW ISSUE end a sept for mislo omiwbns perteltted by, SEC Rale 13c2-12(b) (1). Rail Shn
<br />(See "Rallap" banV)
<br />15 In the opGUon of eryanf Miller and OIty , PA., Bond Com* auumins eompltana wUh amain covenants in the 1996 Resolution (asr h�
<br />J3 def 6wd), ueder a dstIV Taws roguIadorer and Judictal deci,Nonx interest on the Serlsr 1996 Bondr it excluded from arae income for p-W-1 ojj
<br />2 as t5 Income taxation and b not an iter" of tax pnjennoe jos purparer oJ'the jtderol alternative minimum tax Impcusd on Ind hldua4 and
<br />a ,,, howe er a portion ojthe innrest on the Series 1996 Bonds owned bye tions may be sub/at to the federal alternative minimum tax whichff
<br />3 in part on a4/usted current earning. The Seder 1996 Bonds are exempt from taxation under the laws of the State of Florida except ar to mate taxes and
<br />8 t aoaebt oar d by Chapter 170, Florida Statutes, at amended on interest, income or profits on debt obllptlons owed by corporations, banks and saving
<br />e See "Tax Exemption" herrin jar a description of certain federal minimum and other special taxes that may affect the tax treatment of
<br />W~ on the Seder 1996 Bonds.
<br />o'
<br />$38,M,000t
<br />INDIAN RIVER COUNTY, FLORIDA
<br />WATER AND SEWER REVENUE BONDS
<br />SERIES 1996
<br />D"- March 1,15x% Doer September 1, u sham below
<br />The Water and Sewer Revenue Bonds, Series 1996 (the "Series 1996 Bonds") arc being issued by Indian River County, Florida (the "County") in
<br />fully mBistered farm in denominations of $5,000 or any integral multiple thereof. Interest on the Sena 19% Bonds b le semiannually on March 1
<br />e sad September 1, commencing September I, 19%, by check or draft or, at the option of the registered owners of $1,000,000 or more in principal amount
<br />g " _ of then Series 19% Bonds, by domestic wire under, of The Chase Manhattan Bank, N.A., New York, New Yore, as Parisi Agent (' a Agent"),
<br />r made out and mailed to the Registered Owner, u shown on the rcgllstration books of the County maintained by The Chug Manhattan BsnL N,A., New
<br />o York, Now York, es Bond Registrar ("Bond Registrar"), on the fifteenth day of the month next preceding the applicable interest payment date and ss
<br />n r-N otherwise described heroin. a principal of the Series 19% Bonds, when due, and any premium thereon will be payable upon presentation and
<br />surrender thereof at the principal corporate trust office of the Paying Agent. The Series 1996 Bonds aro subject to optional and mandatory redemption
<br />prior to maturity u set forth berein.
<br />yThe Serle 1996 Bonds aro being issued pursuant to the authority of the Constitution and laws of the State of Florida, includlnt Chapter 125,
<br />Florida Statutes, and other applicable provisions of law (the "Act") and Indian River County Resolution No. 93-80, as amended and supplemented
<br />(edlactively, the "Muter Bond Resolution"). including, but not limited to, amendments and supplements made by Resolution No. 9630, adopted by
<br />o the County on February 20, 19% (the "1996 Resolution"), as the same may be amended and supplemented.
<br />a The Seder 1996 Bonds aro being issued by the County to provide funds, together with certain other IegaBy available funds, to (i) make certain
<br />eariltol improvements and additions to the water and sewer system owned and operated by the County (u described under "SERIES 19%
<br />-P OJECfS" herein); (ii) reimburse the County for the cat of acquiring (including tie in costa) a water and sewer system from the City of Sebasdae,
<br />Florida, (W) rchass for deposit to the Reserve Account established under the Muter Bond Resolution a surety bond in an amount equal to the
<br />Reserve RRequ went for the Series 1996 Bonds, (iv) fund the Sinking Fund in an amount to pay a portion of the interest Ant coming due on the
<br />g_ Series 19 6 Bonds, and (v) pay certain cats incurred in connection with the issuance of the Seri. If% Bonds. all as mora particularly described
<br />S O herein.
<br />32 Payment of the principal of and interest on the Series 1996 Bonds when due will be insured by a municipal bond insurance policy to be issued by
<br />.s Financial Guaranty Insuraaa Company simultaneously with the delivery of the Series 1996 Bonds. See' MUNICIPAL BOND INSURANCE'
<br />aEs herd". Fbnanew Guaranty Insurance
<br />Company
<br />H y
<br />The Sella 1996 Bonds are limited obligations of the County. The Series 196 Bonds are payable b the County from, and secured by a Ben upon
<br />and pledge of the Pledged Funds, consisting of the Net Revenues (ss herein defined), amounts on deposit in the Sinking Fund, the Bond Amortisation
<br />" *g Account and the Reserve Account established under the Muter Bond Resolution, together with any other receippts, revenues and Ands plow
<br />thereunder, on a parity with the $47.190,000 Indian River County, Florida, Water and Sewer Revenue Bonds, Series 1993A currently outstanding is the
<br />,=
<br />of $45,475 000 and the $3,330,000 Indian Riva County, Florida, Water and Sewer Revenue Bonds, Series 19938, currently outstanding in the
<br />amount of $2,100,b00.
<br />NEITHER THE COUNTY THE STATE OF FLORIDA NOR ANY POLITICAL SUBDIVISION THEREOF HAS PLEDGED ITS FULL
<br />FAITH OSHALL EVElt CREDIff R HAlt VE RIGHTRTO G M EL THE PAYMENT
<br />XERCISE OF ANY AD VALOREM OF THE SERIES 19% BONDS. NO
<br />POWER THE
<br />V
<br />g OR TAXATION IN THE FORM OF ANY REAL. PROPERTY THEREIN TO PAY THE SERIES I ti BONDS OR THE LNTEREST DUE
<br />THEREON NOR RE ENTITLED TO PAYMENT OF THE SERIFS 19% BONDS FROM ANY FUNDS OF THE COUNTY EXCEPT AS
<br />DESCRIBED HEREIN.
<br />SERIES 1906 BONDS
<br />MATURITIES, AMOUNTSS, INTERESTSerb) Bonds S, PRICE OR YIELDS•
<br />`.
<br />to" Pflocw low"
<br />S' Matter � -RM YMis MON&I Ameut RM YM
<br />.G $ % —% $ %
<br />iJ $ % Term Bonds, , due _ Price C0 R m Yield %
<br />uPrice S to Yield 9i
<br />(plus accrued interest from March 1, 1996)
<br />y This cover contain certain information for quick reference only. it it not a summary of this issue. Investors must read the entire OAldal Statement
<br />to obtain information essential to the making of an informed investment decision.
<br />The Serio 196 Bonds are offered when, a and if issued and received by the Underwriters, subject to the�pp�v� of lepllry by Bryryou►t, Miller and
<br />Oft P.A., Tdlahwee, Florida, Bond Couneel to the County. Certain legal matters wW be pasecd upon for the County by Cicala PVitunac, Esquire
<br />Cowl, CoAttomey and by Bryant, Miller and Olive, P.A., Disclosure Counsel. Fishkind t Associate, Inc., Orlando, Florida b nn* as l
<br />g Advisor to the Canty with respect to the Soria 1996 Bonds. It is expected that the Soria 1996 Bonds witl be available for delivery in New York, New
<br />York, in dd dtiw form on or about , 19%.
<br />William B. Neu# & Ca
<br />Dated 19% Smith Barney Inc.
<br />Preliminary, subject to change.
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