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their issuance. The board shall determine the place or places of payment <br />of the principal and interest which may be at any bank or trust company <br />within or without the state. The bonds shall be signed either by manual <br />or facsimile signatures of the Chairman and Clerk of the board, provided <br />that such bonds shall bear at least one (1) signature which is manually <br />executed thereon, and the coupons attached to such bonds shall bear the <br />facsimile signature or signatures of such officer or officers as shall be <br />designated by the board. The bonds shall have the seal of the board affixed, <br />imprinted, reproduced or lithographed thereon, all as may be prescribed <br />in the resolution or resolutions authorizing. the issuance thereof. The <br />bonds shall be sold at public sale or private sale at such price or prices <br />as the board shall determine to be in the best interest, provided that the <br />price shall be not less than ninety-five per centum (95%) of the par value <br />of the bonds sold. <br />SECTION 3. The principal of and interest on the bonds <br />issued hereunder will be payable from the race track funds and jai alai <br />fronton funds accruing annually to Indian River County, pursuant to <br />Chapters 550 and 551, Florida Statutes, as allocated to the board pursuant <br />to law. <br />SECTION 4. The bonds shall also be and they are hereby <br />constituted negotiable instruments under the law merchant and the laws <br />of the State of Florida. <br />SECTION 5. The bonds shall be and they are hereby con- <br />stituted as legal investments for any state, county, municipal or other <br />public funds or for any bank, savings bank, trustees, executors, guardians, <br />or any trust or fiduciary funds whatsoever. Such bonds shall also be and <br />constitute legal securities which may be deposited by any bank or trust <br />company for the security of state, county, municipal or other public funds. <br />SECTION 6. No referendum or election in Indian River <br />County shall be required for the exercise of any of the provisions of this <br />ordinance, unless such referendum or election is required by the Constitution <br />-2- <br />am 19 PAGE 44 <br />