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No. <br />5 <br />$100,000.00 <br />Dated: December 8, 1978 <br />UNITED ATES OF AMERICA <br />STATE OF FLORIDA <br />COUNTY OF INDIAN RIVER <br />n <br />kW TER AND SEWER REVENUE BONDS, SERIES 1979 <br />' FM �TLUE RYCNIVED, the County of Indian River, Florida <br />(Ve"INdr" herby promises to pay to the order of THE FIRST <br />CNK O NDIAN RIVER COUNTY, at its principal office in the <br />City of Vero Beach, Florida, on or before September 30, 1979, solely <br />from the special funds hereinafter mentioned, in lawful money of the <br />United States of America, the principal sum of ONE HUNDRED THOUSAND <br />DOLLARS ($100,000.00) and, quarterly from.the date hereof, solely <br />from such special funds, interest on such principal sum from the date <br />hereof at the rate of six per centum (6%) per annum, until such <br />principal sum shall be paid. <br />This Note is issued pursuant to the Contitution and laws of the <br />State of Florida, particularly Section 215.431, Florida Statutes (1975), <br />and a resolution duly adopted by the Issuer on January 23, 1978, (the <br />"Resolution"), in anticipation of the receipt by the Issuer of the <br />proceeds from the sale of not exceeding $402,500 principal amount of <br />Water and Sewer Revenue Bonds, Series,•1979, of the Issuer (the "Bonds"). <br />This Note and the interest due thereon are payable solely from and <br />secured by a prior lien upon and a pledge of the proceeds to be derived <br />• <br />from the sale of the Bonds and, if.necessary, from and secured by a prior <br />lien upon and a pledge of the gross revenues to be derived from the <br />I. <br />operation of the Issuer's water and sewer system, all in the manner <br />provided in the Resolution. <br />This Note shall not constitute a general obligation of the Issuer, <br />and the holder thereof shall never have the right to require of compel <br />the exercise of the power of the Issuer to levy ad valorem taxes for <br />the payment of the principal or interest on this Note. <br />NOV` Fp, <br />1978 <br />