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$38,380,000•
<br />INDIAN RIVER COUNTY, FLORIDA
<br />Water and Sewer Revenue Bonds
<br />Series 1996
<br />INTRODUCTION
<br />This Official Statement, which includes the cover page and the appendices hereto, furnishes certain
<br />information relating to the sale by Indian River County, Florida (the "County") of $38,380,000• aggregate
<br />principal amount of its Water and Sewer Revenue Bonds, Series 1996 (the "Series 1996 Bonds").
<br />The Series 1996 Bonds are being issued pursuant to the authority of the Constitution and laws of the
<br />State of Florida, including Chapter 125, Florida Statutes, and other applicable provisions of law (the "Act") and
<br />Indian River County Resolution No. 93-80, as amended and supplemented (collectively, the "Master Bond
<br />Resolution"), including, but not limited to amendments and supplements made by Resolution No. 96-30 adopted
<br />by the County on February 20, 1996 (the "1996 Resolution"), on a parity with the $47,190,000 Indian River
<br />County, Florida, Water and Sewer Revenue Bonds, Series 1993A currently outstanding in the amount of
<br />$45,475,000 (the "Series 1993A Bonds") and the $3,330,000 Indian River County, Florida, Water and Sewer
<br />Revenue Bonds, Series 1993B, currently outstanding in the amount of $2,100,000 (the "Series 1993B Bonds"
<br />collectively with the Series 1993A Bonds, the "Series 1993 Bonds"). The Series 1996 Bonds together with the
<br />Series 1993 Bonds and any additional parity bonds hereafter issued are herein referred to as the "Bonds."
<br />The Series 1996 Bonds are limited obligations of the County, payable from and secured by a Gen upon
<br />and pledge of the Net Revenues (as herein defined) of the water and sewer system owned and operated by the
<br />County (the "System"), amounts on deposit in the Sinking Fund, the Bond Amortization Account and the Reserve
<br />Account established under the Master Bond Resolution, together with any other receipts, revenues and funds
<br />pledged thereunder (the "Pledged Funds"), on a parity with the Series 1993 Bonds.
<br />Neither the County, the State of Florida nor any political subdivision thereof has pledged Its full faith
<br />or credit or taxing power to the payment of the Series 19% Bonds. No holder of the Series 1996 Bonds shall
<br />ever have the right to compel the exercise of any ad valorem taxing power of the County or taxation in any
<br />form of any real property therein to pay the Series 1996 Bonds or the interest due thereon nor be entitled to
<br />payment of the Series 19% Bonds from any funds of the County except as described herein.
<br />Payment of the principal of and interest on the Series 1996 Bonds, when due, will be insured by a
<br />municipal bond insurance policy (the "Policy") issued by Financial Guaranty Insurance Company (the "Bond
<br />Insurer") simultaneously with the delivery of the Series 1996 Bonds. See "MUNICIPAL BOND INSURANCE"
<br />herein.
<br />The references, excerpts, and summaries of all documents referred to herein do not purport to be
<br />complete statements of the provisions of such documents, and are made subject to all of the detailed provisions
<br />of such documents, to which reference is directed for full and complete statements of all matters relating to the
<br />Master Bond Resolution, the 1996 Resolution, the Series 1996 Bonds, the security for the payment of the Series
<br />1996 Bonds and rights and obligations of the holders of the Series 1996 Bonds. Copies of these documents are
<br />available from Jeffrey K. Barton, Clerk of the Circuit Court, Indian River County, 1840 251h Street, Vero Beach,
<br />Florida 32960. Capitalized terms used but not defined herein have the same meaning as in the Master Bond
<br />• Preliminary, subject to change.
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