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<br />C
<br />Agreement"), shall be issued in the name of and delivered to the Underwriter or as
<br />otherwise directed by the Chairman. The sale of the Bonds to the Underwriter in
<br />an aggregate principal amount which shall not exceed $18,000,000 at the purchase
<br />price set forth in the Bond Purchase Agreement (the "Purchase Price") and at an
<br />initial rate of interest, as approved by the Chairman, of not to exceed 12% (the
<br />"Maximum Initial Rate"), is hereby authorized, the Chairman's approval of the
<br />initial rate to be conclusively evidenced by the execution by the Chairman of an
<br />order to the Trustee to authenticate and deliver the Bonds to or upon the order of
<br />the Underwriter.
<br />The Chairman is hereby authorized and directed to award the sale of
<br />the Bonds in the aggregate principal amount of not to exceed $18,000,000, at the
<br />Purchase Price, to the order of the Underwriter.
<br />The Bonds shall be dated such date, shall bear interest at such rates,
<br />shall be payable or shall mature on such date or dates, shall be issued in such
<br />denominations, shall be subject to optional, extraordinary and mandatory
<br />redemption at such time or times, and upon such terms and conditions, shall be
<br />subject to optional tender at such time or times and upon such terms and
<br />conditions, shall be payable at the place or places and in the manner, shall be
<br />executed, authenticated and delivered, shall otherwise be in such form and subject
<br />to such terms and conditions, all as provided in the Trust Agreement, as may be
<br />established by resolution of the Issuer adopted prior to the issuance of the Bonds, or
<br />as may be approved by the Chairman, and the authority to approve such matters is
<br />hereby expressly delegated to the Chairman, with such approval to be conclusively
<br />evidenced by the Chairman's execution of any documents including such terms.
<br />The Bonds and the premium, if any, and the interest thereon shall not
<br />be deemed to constitute a general debt, liability or obligation of the Issuer the State
<br />of Florida or of any political subdivision thereof, or a pledge of the faith and credit
<br />nor the taxing power of the Issuer, or the State of Florida or of any political
<br />subdivision thereof, but shall be payable solely from the revenues provided therefor,
<br />and the Issuer is not obligated to pay the Bonds or the interest thereon except from
<br />the revenues and proceeds pledged therefor and neither the faith and credit of the
<br />Issuer, nor the taxing power of the State of Florida or any political subdivision
<br />thereof is pledged to the payment of the principal of or the interest on the Bonds.
<br />SECTION 7. In order to secure the payment of the principal of,
<br />premium, if any, and the interest on the Bonds herein authorized, according to their
<br />tenor, purport and effect, and in order to secure the performance and observance of
<br />all of the covenants, agreements and conditions in said Bonds, the execution and
<br />delivery of the Trust Agreement, a proposed form of which is attached hereto as
<br />Exhibit "A," is hereby authorized. The form of the Trust Agreement is hereby
<br />approved, subject to such changes, insertions and omissions and such filling of
<br />blanks therein as may be approved and made in such form of Trust Agreement by
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