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No. R - <br />UNITED STATES OF AMERICA <br />STATE OF FLORIDA <br />INDIAN RIVER COUNTY <br />WATER AND SEWER REVENUE REFUNDING BOND, SERIES 1989 <br />RATE OF INTEREST MATURITY DATE DATE OF ORIGINAL ISSUE CUSIP <br />REGISTERED OWNER: <br />PRINCIPAL AMOUNT: <br />KNOW ALL MEN BY THESE PRESENTS, that INDIAN RIVER COUNTY, <br />FLORIDA (the "County"), for value received, hereby promises to pay to the <br />Registered Owner named above, or registered assigns, solely from the <br />Pledged Funds, hereinafter defined, on the Maturity Date specified above, <br />the Principal Amount specified above and to pay, solely from such Pledged <br />Funds, interest on this Water and Sewer Revenue Refunding Bond, Series <br />1989 (the "Bond"), from the Date of Original Issue specified above, or <br />from the most recent interest payment date to which interest has been <br />paid, as applicable, at the Rate of Interest specified above, per annum, <br />such interest being payable initially on 198_ and semi- <br />annually thereafter on each and until the <br />Principal Amount hereof is paid in full. The Principal Amount hereof <br />shall be payable, upon presentation and surrender hereof, on or after the <br />Maturity Date or date of earlier redemption, at a principal corporate <br />trust office of Florida, as Paying Agent and Bond <br />Registrar. The interest hereon shall be paid, when due, by check mailed <br />to the Registered Owner at his address as the same appear at 5:00 P.M. <br />local time at the location of the Bond Registrar on the fifteenth (15th) <br />day of the month immediately preceding the applicable interest payment <br />date on the registration books kept by the Bond Registrar on behalf of the <br />County. The principal of, premium, if any, and interest on this Bond are <br />payable in lawful money of the United States of America. <br />This Bond is one of the revenue bonds authorized by the County <br />under the authority of and in full compliance with the Constitution and <br />laws of the State of Florida, including particularly Chapters 125 and 159, <br />Florida Statutes (1987) and Resolution No. of the County, <br />all as amended and supplemented, and other applicable provisions of law. <br />The above -referenced resolution as amended and supplemented from time to <br />time is hereinafter referred to as the "Resolution". This Bond is <br />subject to all the terms and conditions of the Resolution. <br />This Bond is one of the revenue bonds designated as Water and <br />Sewer Revenue Refunding Bonds, Series 1989, all of like date and tenor, <br />except as to numbers, denominations, dates of maturity, rates of interest <br />and provisions for redemption, in the aggregate principal amount of Seven <br />- 10 - <br />