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0 <br />. The bonds of this issue maturing in the years 1980 to 1985, both inclusive, are not redeemable prior to <br />their respective stated dates of maturity. The bonds maturing in the year 1986 and thereafter are redeemable <br />prior to their respective stated dates of maturity, at the option of the County, in whole or in part, in inverse <br />numerical order if less than all, on September 1, 1985, or on any interest payment date thereafter, at par and <br />accrued interest to the date of redemption, plus a premium of two per centum (2%) of the par value thereof if <br />redeemed on. September 1, 1985. Such premium shall reduce at the rate of one-fourth of one per centum ('/a%) on <br />each September 1 thereafter; provided, however, that such premium shall never be less than one per centum (1%) <br />of the par value thereof. <br />Notice of such redemption shall be given in the manner required by the Resolution. <br />This bond does not constitute an indebtedness of the County within the meaning of any constitutional or <br />statutory provision or limitation, and it is expressly agreed by the holder of this bond and the coupons <br />appertaining thereto that such holder shall never have the right to require or compel the exercise of the ad <br />valorem taxing power of the County for the payment of the principal of and interest on this bond or the making <br />of any sinking fund, reserve or other•payments provided for in the Resolution. <br />It is further agreed between the County and the holder of this bond that this bond and the obligation <br />evidenced thereby shall not constitute a lien upon the facilities or any part thereof, or on any other property of <br />or in the County, but shall constitute a lien only on the net revenues derived from the operation of the facilities <br />and the guaranteed entitlement portion of the State revenue sharing trust funds, in the manner provided in the <br />Resolution. <br />The County in the Resolution has covenanted and agreed with the holders of the bonds of this issue to fix, <br />establish and maintain such rates and collect such fees, rentals or other charges for the services of the facilities <br />and to revise the same from time to time whenever necessary, as will always provide revenues in each year <br />sufficient to pay (1) one hundred per centum (100%) of all operating and maintenance costs of the facilities in <br />such year, (2) one hundred per centum (100%) of all required deposits into the Reserve Account in the Sinking <br />Fund and into the Renewal and Replacement Fund established by the Resolution in such year, and (3) one <br />hundred fifteen per centum (115%) of the amount of principal and interest becoming due in such year on the <br />bonds of this issue and on all other obligations payable on a parity therewith, and that such rates, fees, rentals or <br />other charges shall not be reduced so as to be insufficient to provide adequate revenues for such purposes; and the <br />County has entered into certain further covenants with the holders of the bonds of this issue for the terms of <br />which reference is made to the Resolution. <br />It is hereby certified and recited that all acts, conditions and things required to exist, to happen and to be <br />performed precedent to and in the issuance of this bond, exist, have happened and have been performed in <br />regular and due form and time as required by the Laws and Constitution of the State of Florida applicable <br />thereto, and that the issuance of the bonds of this issue does not violate any constitutional or statutory limitation <br />or provision. <br />This bond and the coupons appertaining thereto are and have all the qualities and incidents of a negotiable <br />instrument under the law merchant and the Laws of the State of Florida. <br />'This bond may be registered as to principal only in accordance with the provisions endorsed hereon. <br />IN WITNESS WHEREOF, Indian River County, Florida, has issued this bond and has caused the same to be <br />signed by the Chairman of the Board of County Commissioners and attested and countersigned by the Clerk of <br />such Board, either manually or with their facsimile signatures, and the corporate seal of said County or a facsimile <br />B-4 <br />JAN ��1 Box 33 PAGGE <br />