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PROVISION FOR REGISTRATION <br />This obligation may be registered as to principal only in the name of the holder on the books to be kept by <br />the Clerk of the Board of County Commissioners of Indian River County, Florida, as Registrar, or such other <br />Registrar as may be hereafter duly appointed, such registration being noted hereon by such Registrar in the <br />registration blank below, after which no transfer shall be valid unless made by written assignment on said books <br />by the registered holder or attorney duly authorized and similarly noted in the registration blank below, but it <br />may be discharged from registration by being transferred to bearer, after which it shall be transferable by <br />delivery, but it may be again registered as before. The registration of this obligation as to principal shall not <br />restrain the negotiability of the coupons by delivery merely. <br />DATE OF IN WHOSE NAME SIGNATURE OF <br />REGISTRATION REGISTERED REGISTRAR <br />®AA®® <br />SECTION 18. SEVERABILITY OF INVALID PROVISIONS. If any one or more of the covenants, <br />agreements or provisions herein contained shall be held contrary to any express provision of lav or contrary to <br />the policy of express law, though not expressly prohibited, or against public policy, or shall for any reason <br />whatsoever be held invalid, then such covenants, agreements or provisions shall be null and void and shall be <br />deemed separable from the remaining covenants, agreements or provisions and shall in no way affect the validity <br />of any of the other provisions hereof or of the Obligations or coupons issued hereunder. <br />SECTION 19. SALE OF OBLIGATIONS. The Obligations shall be issued and sold in such manner and at <br />such price or prices consistent with the Act, all at one time or in installments from time to time, as shall be <br />hereafter determined by the governing body of the Issuer. <br />SECTION 20. VALIDATION AUTHORIZED. The Attorney for the Issuer is authorized and directed to <br />prepare and file proceedings to validate the Obligations in the manner provided by law. , <br />SECTION 21. REPEALING CLAUSE. All resolutions or parts thereof of the Issuer in conflict with the <br />provisions herein contained are, to the extent of such conflict, hereby superseded and repealed. <br />SECTION 22. EFFECTIVE DATE. This resolution shall take effect in the manner provided by law. <br />JAN 1 8.1978 <br />B-6 <br />.BOOK 33 PA -UF 358 <br />t <br />