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date for which notice may be given following the issuance of the Series 2009 Bonds is hereby authorized. The form of Escrow Deposit Agreement to be used in connection with the defeasance and redemption of the Series 1993 Bonds attached hereto as Exhibit "A" and incorporated herein by reference is hereby approved. The Chairman, or in his absence the Vice Chairman, are hereby authorized to execute such Escrow Deposit Agreement in substantially the form attached as Exhibit "A" upon the approval of the County Attorney as to form and legal sufficiency, with such additional changes, insertions and omissions therein as do not change the substance thereof and as may be approved by the said officers of the County executing the same, such execution to be conclusive evidence of such approval. The County hereby selects The Bank of New York Mellon Trust Company, N.A., Jacksonville, Florida, to serve as Escrow Holder under the Escrow Deposit Agreement. SECTION 5. RESOLUTION TO CONSTITUTE CONTRACT. In consideration of the acceptance of the Bonds authorized to be issued hereunder by those who shall hold the same from time to time, this Resolution shall be deemed to be and shall constitute a contract between the County and such Holders. The covenants and agreements herein set forth to be performed by the County shall be for the equal benefit, protection and security of the legal Holders of any and all of the Bonds, all of which shall be of equal rank and without preference, priority or distinction of any of the Bonds over any other thereof, except as expressly provided therein and herein. SECTION 6. AUTHORIZATION OF SERIES 2009 BONDS. There is hereby authorized and directed to be issued the County's Water and Sewer Revenue Refunding Bonds, Series 2009 (the "2009 Bonds"), in the principal amount not to exceed $30,000,000. The Series 2009 Bonds shall be issued under and secured by the Original Resolution. The Series 2009 Bonds shall mature in the amounts and at the times, shall bear interest at the rates, be redeemable at the redemption prices and upon the terms and shall have all of the other characteristics, all as to be approved by the Chairman or Vice Chairman and the County Administrator or the Director of Management and Budget prior to sale of said Bonds, as provided in this resolution. The Series 2009 Bonds shall be executed, authenticated and delivered by the officers of the County authorized below in substantially the form set forth in the Original Resolution in fully registered form. The Series 2009 Bonds are hereby designated "qualified tax-exempt obligations' pursuant to Section 265(b)(3)(B) of the Code. SECTION 7. DESCRIPTION OF SERIES 2009 BONDS. The Series 2009 Bonds shall be issued in fully registered form as current interest bonds; shall be dated; shall be numbered; shall be in the denomination of $5,000 each, or integral multiples thereof, or such other denominations as shall be approved by the County in a subsequent resolution prior to the delivery of the Series 2009 Bonds; shall bear interest at such rate or rates not exceeding the maximum rate allowed by Florida law, the actual rate or rates 4