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A R R 10 1985 <br />BOOK 60 FACE 528 <br />AND IMPROVEMENTS TO THE COMBINED WATER AND <br />SEWER SYSTEM OF INDIAN RIVER COUNTY, FLORIDA; <br />AUTHORIZING THE ISSUANCE BY THE COUNTY OF <br />NOT EXCEEDING $2,750,700 WATER AND SEWER <br />REVENUE BONDS, SERIES 1982, TO FINANCE THE <br />COST THEREOF; PLEDGING THE GROSS REVENUES <br />OF SUCH SYSTEM TO SECURE PAYMENT OF THE <br />PRINCIPAL OF AND INTEREST ON THE BONDS; AND <br />PROVIDING FOR THE RIGHTS OF THE HOLDERS OF <br />THE BONDS." <br />(hereinafter called "Resolution"). <br />B. It is necessary and desirable to amend the <br />Resolution by deleting authorization for the issuance of coupon <br />bonds in order to comply with current federal tax laws. <br />SECTION 3. AMENDMENTS TO RESOLUTION. The Resolution is <br />amended in the following manner. <br />A. Section 2.06 of the Resolution is hereby amended to <br />read as follows: <br />"2.06 Negotiability, Registration and Exchange. The <br />Bonds shall be and shall have all the qualities and incidents of <br />negotiable instruments under laws of the State of Florida, and <br />each successive holder, in accepting any of the Bonds or the <br />coupons appertaining thereto, shall be conclusively deemed to <br />have agreed that the Bonds shall be and have all of the qualities <br />and incidents of negotiable instruments. <br />The coupon Bonds may be registered, at the option of <br />the holder, as to both principal and interest upon the books kept <br />for the registration and transfer of Bonds by the Clerk, as Bond <br />-2- <br />97 <br />