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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 suc:- Jonds 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 lithograph --d 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';16) 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 lave. <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 small 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 bo and <br />MISWULC 1Cga1 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 ti. No referendu111 or election in Indian ]diver <br />County shall be required for th.. Cxercisc of any of the provisions of this <br />ordim a e, un]eti ,;uc•h rc•ferc•udurn (w c ]c Blinn is rc•ttuirc•d by t1w Uow;ti1111!­!1 <br />.. 2 - <br />