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eer additions thereto as shall be approved by the Chairman or Vice Chairman in accordance with the provisions of this Section, their execution thereof being deemed conclusive evidence of the approval of such changes and full satisfaction of the conditions set forth in this Section. The Bond Purchase Contract shall not be executed by the Chanman or Vice Chairman until such time as all of the following conditions have been satisfied. (A) Receipt by the Chairman or Vice Chairman ofa written offer to purchase the Bonds by the Underwriter substantially in the form of the Bond Purchase Contract, said offer to provide for, among other things (i) the issuance of not exceeding $18,000,000 aggregate principal amount of Bonds at a net interest rate not to exceed 6.00% (ii) an underwriting discount (including management fees and all expenses) not in excess of $6 per $1,000 of principal amount of Bonds, (iii) the final maturity of the Bonds shall be not later than 2031 and (iv) the dated date of the Bonds shall be August I, 2001. (B) Receipt by the Chaimnan from the Underwriters ofa disclosure statement and truth -in - bonding information complying with Section 218.385, Florida Statutes. (C) The Bonds shall be subject to optional redemption at the option of the Issuer in whole or in part on and after a date that is not later than 2012 at a redemption price not to exceed 102%. The County Administrator, or his designee, is hereby authorized to approve the payment of the costs of issuing the Bonds, including, but not limited to fees and expenses of Bond Counsel, Disclosure Counsel, Financial Advisor, Underwriter's Counsel, Issuer's Counsel, Registrar and Paying Agent, Rating Agency fees, Bond Insurance premiums and printing fees. SECTION 2. The Bonds shall be issued under and secured by the Resolution and shall be executed and delivered by the Chairman or Vice Chairman of the Issuer, and attested by the Clerk in substantially the fonn set forth in the Resolution, with such additional changes and insertions therein as conform to the provisions of the Bond Purchase Contract, and such execution and delivery shall be conclusive evidence of the approval thereof by such officers SECTION 3. The Serial and Term Bonds shall be subject to such redemption provisions and amortizations as set forth m the Bond Purchase Contract, the form of which is attached hereto as Exhibit A., SECTION 4. A book -entry -only system of registration is hereby authorized for the Bonds. So long as the Issuer shall maintain a book -entry -only system with respect to the Bonds, the following provisions shall apply: The Bonds shall initially be issued in the name of Cede & Co. as nominee for the Depository Trust Company ("DTC"), which will act as secunties depository for the Bonds and so long as the Bonds are held in book -entry -only form, Cede & Co. shall be considered the registered owner for all purposes hereof. On original issue, the Bonds shall be deposited with DTC, which shall be responsible for maintaining a book -entry -only system for recording the ownership interests of its participants ("DTC Participants"), and other instituuons who clear through ormaintain a custodial relationship with DTC Participants ("Indirect Participants"). The DTC Participants and Indirect Participants will be responsible for maintaining records with respect to the beneficial ownership interests of individual purchasers of the Bonds (`Beneficial Owners"). Principal and interest prior to and at maturity shall be payable directly to Cede & Co., in care of DTC. Disbursal of such amounts to DTC Participants shall be the responsibility of DTC. Payments to Indirect Participants shall be the responsibility of DTC Participants, and payments by DTC Participants and Indirect Participants to Beneficial Owners shall be the responsibility of DTC Participants and Indirect Participants and not of DTC, the Paying Agent or the Issuer. AUGUST 7, 2001 -101- BR 119 PG 116 • }