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<br />ARTICLE II
<br />AUTHORIZATION, TERMS, EXECUTION AND
<br />REGISTRATION OF REVENUE BONDS
<br />2.01
<br />Authorization of Revenue Bonds. Subject and
<br />pursuant to the
<br />provisions of this instrument, obligations of 1
<br />the Issuer to be known as "Indian River County, Florida, Water
<br />and Sewer Revenue Bonds, Series 1979," (the "Bonds") are hereby
<br />authorized to be issued in an aggregate principal amount not ex-
<br />ceeding Four Hundred and Two Thousand Five Hundred Dollars ($402,500)
<br />for the purpose
<br />of providing funds to pay a part of the cost of the
<br />Project provided for in Section 1.02 hereof.
<br />2.02
<br />Descri2tion of Bonds. The Bonds shall be
<br />dated•as of the
<br />date of their delivery; shall bear interest at
<br />not exceeding the legal rate per annum, payable on September 1,
<br />1979, and annually thereafter on September 1 of each year; shall be
<br />numbered consecutively from one upward in order of maturity; shall be
<br />in the denomination of $1,000 or any multiple thereof to and includ-
<br />ing $10,000 (except bond number 12 which shall be in the denomination
<br />of $6,500), and
<br />shall mature on September 1 of each year as follows:
<br />YEAR
<br />AMOUNT YEAR AMOUNT
<br />:1981
<br />$4,000 2000 $ 91000
<br />•1982.
<br />4,000 2001 10,000
<br />1983,
<br />4,000 2002 1.0, 000
<br />1984
<br />4,000 2003 11,000
<br />1985
<br />5,000 2004 11,000
<br />1986
<br />5,000 2005 12,000
<br />1987
<br />5,000 2006 13,000
<br />1988
<br />5,000 2067 13,000
<br />1989
<br />6,000 2008 14,000
<br />1990
<br />6,000 2009 15,000
<br />1991
<br />6,000 2010 15,000
<br />1992
<br />6,500 2611 16,000
<br />1993
<br />7,000 2012 17,000
<br />1994
<br />7,000 2013 18,000
<br />1995
<br />.7,000 2014 19,000
<br />1996
<br />8,000 2015 20,000
<br />1997
<br />8,000 2016. 20 , 00.0
<br />1998
<br />91000 2017 21,000
<br />1999
<br />9,000 2018 23,000
<br />2..03
<br />Places of Payment. The Bonds shall be issued in
<br />coupon or fully
<br />registered form; shall be payable as to both prin-
<br />cipal and interest
<br />at -such place.or places as the Issuer shall here-
<br />ifter, by resolution
<br />designate, in lawful money of the United States
<br />,of America; and
<br />shall bear interest -from the date of issue,
<br />in accordance with
<br />and upon surrender of the appurtenant in-
<br />torest coupons
<br />as they severally mature, unless registered;
<br />provided, however,
<br />that Ronda held by the United Stakes of _ f.
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<br />@CGK �� PAGE40 1
<br />J AN2 3 1978
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