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SECOND DRAFT - November 23, 1992 <br />Resolution"), did authorize the issuance of a first installment of the bonds <br />authorized by the Master Bond Resolution, such installment of bonds being the <br />"Refunding and Improvement Revenue Bonds, Series 1985", dated as of November 1, <br />1985, in the aggregate principal amount of $9,855,000 (the "Series 1985 Bonds"), <br />to provide funds for and toward proper legal purposes set forth in the Master <br />Bond Resolution; and <br />WHEREAS, First Union National Bank of Florida (the "Paying Agent"), <br />having a corporate trust office in Jacksonville, Florida, pursuant to provisions <br />of the Series 1985 Bonds Enabling Resolution and of the Series 1985 Bonds, is the <br />paying agent with respect to the Series 1985 Bonds; and <br />WHEREAS, The Series 1985 Bonds Enabling Resolution provides, inter <br />alia, that the Series 1985 Bonds are stated to mature on September 1 of the years <br />1986 to 1997, both inclusive, 2000, 2002 and 2005; and <br />WHEREAS, The Series 1985 Bonds Enabling Resolution and the Series <br />1985 Bonds provide, inter alia, that the Series 1985 Bonds, or portions thereof, <br />maturing in the year 1996 and thereafter are redeemable prior to their stated <br />dates of maturity, at the option of the County, other than by operation of the <br />Bond Amortization Fund, as a whole, on any date, or in part on any interest <br />payment date, on or after September 1, 1995, at the applicable redemption price <br />or prices set forth in the Series 1985 Bonds Enabling Resolution, that the County <br />may select the maturities to be redeemed and that if less than all of the Series <br />- 2 - <br />