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Indian River County <br />The Bank of New York <br />September 1, 2000 <br />Page 2 <br />We are of the opinion that the holders of the Series 1992 Bonds, currently outstanding in the <br />aggregate principal amount of $3,505,000 and as further identified in the Escrow Deposit Agreement, <br />have no further pledge of and lien on the Pledged Revenues under the Resolution, other than the right <br />to receive payment from the Escrow Account created for such purpose and that the Series 1992 <br />Bonds being defeased pursuant to the Escrow Deposit Agreement have been legally defeased in <br />accordance with the Resolution. In rendering this opinion we have relied on the report prepared by <br />Causey Demgen & Moore Inc., Certified Public Accountants, verifying the arithmetical accuracy of <br />certain computations, and have assumed the enforceability of the Escrow Deposit Agreement. As <br />used herein, the term "Pledged Revenues" shall have the meaning set forth in the Resolution. <br />Any capitalized terms not defined herein shall have the meaning set forth in the Resolution. <br />Yours truly, <br />BRYANT, MILLER AND OLIVE, P.A. <br />%/4/-/e,"„4?„0„,eee.za <br />