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Recently the Board of County Commissioners directed staff to move forward issuing the <br />remaining $11,000,000 General Obligation Bonds to purchase environmentally sensitive land. <br />Staff has done an analysis (see attached) and is not concerned with Indian River County <br />exceeding the 1/2 mill cap. The $11,000,000 Bond Issue will be done by competitive sale which <br />is presently scheduled for Tuesday, Nov. 13, 2001. In order for staff to proceed, the Board of <br />County Commissioners must approve the attached Resolutions. <br />Recommendation: <br />It is recommended the Board of County Commissioners approve the attached Resolutions <br />for the competitive sale of the $11,000,000 General Obligation Bond Issue. <br />ON MOTION by Commissioner Macht, <br />SECONDED by Commissioner Stanbridge, the <br />Board unanimously adopted Resolution 2001-107 <br />supplementing Resolution No. 95-63; providing <br />for the sale of not to exceed $11,000,000 general <br />obligation bonds of Indian River County, Florida; <br />fixing redemption provisions and series <br />designation for the bonds; setting forth the form of <br />the notice of bond sale and summary notice of <br />bond sale relating to the sale of such bonds; <br />directing publication of the summary notice of sale <br />relating to such bonds; providing for the opening <br />of bids relating to the sale of the bonds; setting <br />forth the official notice of sale and bid forms; <br />providing that such bonds shall be issued in full <br />book entry form; approving the form of a <br />preliminary official statement; covenanting to <br />provide continuing disclosure; authorizing the <br />selection of a Registrar and Paying Agent; <br />OCTOBER 23, 2001 <br />-75- <br />L 0 v <br />