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JUL 71982 FIVE THOUSAND DOLLARS and to pay interest thereon, from the date of the delivery of this Bond to the purchaser thereof, solely from such special funds, at the rate of per centum ( W) per annum, payable on 1, 198, and semiannually thereafter on the first day of and of each year upon the presentation and surrender of the annexed coupons as they severally fall due, unless registered. Both principal of and interest on this Bond are payable at IT , , in lawful money of the United States of America. This Bond is one of an authorized issue of Bonds in the aggregate principal amount of $7,000,000 of like date, tenor and effect, except as to number, interest rate and date of maturity, issued to finance the cost of acquiring and constructing additions, extensions and improvements to the combined water and sewer system of the Issuer (the "System"), under the authority of and in full compliance with the Constitution and Statutes of the State of Florida, particularly Ch. 159, Fla. Stat. (1981), and a resolution duly adopted by the Issuer on June , 1982, as supplemented by a resolution duly adopted by the Issuer on June 1982 (collectively, the "Resolution"), and is subject to all the terms and conditions of the Resolution. This Bond and the interest thereon are payable solely from and secured by a lien upon and a pledge of the gross reve- nues to be derived from the operation of the System, in the manner described in the Resolution. It is provided in the Resolution that the Bonds of this issue will rank on a parity with the outstanding Water and Sewer Revenue Bonds, Series 1979, dated August 30, 1979, and Water and Sewer Revenue Bonds, Second Series 1979, dated May 21, 1979, of the Issuer; and the Water Revenue Bonds, Series 1980 (South County Water System) of the Issuer, authorized but unissued (all 3 issues of bonds collectively, the "Parity Obligations"); which have a lien of equal dignity upon such gross revenues. The lien of the holders of the Bonds of this issue on the portion of the gross revenues of the System consisting of the revenues of the South County Water System is junior, subordinate and inferior to the lien thereon of the holders of the out- standing Water Revenue Bonds, Series 1980 (South County Water System), Anticipation Notes, dated May 1, 1981 (the "Bond Anticipation Notes"), of the Issuer. However, upon the issuance of the Water Revenue Bonds, Series 1980 (South County Water - System), and the retirement of the Bond Anticipation Notes, the - -8-