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preceding sentence, the deposit of Federal Securities in irrevo- <br />cable trust with a banking institution or trust company, for the <br />sole benefit of the Registered Owners of such Bonds, in an amount <br />such that the principal of and interest on such Federal <br />Securities will be sufficient to pay when due the principal, <br />interest and redemption premiums, if any, on such outstanding <br />Bonds, shall be considered "provision for payment." Nothing <br />herein shall be deemed to require the Issuer to call any of such <br />outstanding Bonds for redemption prior to maturity pursuant to <br />any applicable optional redemption provisions, or to impair the <br />discretion of the Issuer in determining whether to exercise any <br />such option for early redemption. <br />SECTION 19. SALE OF BONDS. The Bonds shall be sold and <br />issued in such manner and at such price or prices consistent with <br />the provisions of the Act and this resolution as shall be deter- <br />mined by subsequent resolution of the Board adopted prior to such <br />sale and issuance, respectively; provided, however, that no Bonds <br />shall be sold or delivered until the Outstanding Obligations <br />shall have been advance refunded. <br />SECTION 20. VALIDATION AUTHORIZED. The Attorney for <br />the Issuer is hereby authorized, at his option, to institute pro- <br />ceedings in the Circuit Court for Indian River County, Florida, <br />for the validation of the Bonds. <br />SECTION 21. MODIFICATION OR AMENDMENT. No material <br />modification or amendment of this resolution or of any resolution <br />amendatory hereof or supplemental hereto, may be made without the <br />- consent in writing of the Registered Owners of 51% or more in <br />aggregate principal amount of the Bonds then outstanding, or the <br />Registered Owners of all the Bonds to be affected by such modifi- <br />cation or amendment; provided, however, that no modification or <br />amendment shall permit a change in the maturity of such Bonds or <br />a reduction in the rate of interest thereon or in the amount of <br />the principal obligation, or affect the unconditional promise of <br />the Issuer to pay the principal of and interest on the Bonds as <br />-32- <br />JL 17 1985 BOOK F'',GE 586 <br />