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applicable provisions of law. The above -referenced resolutions, as duly adopted by the Board of County Commissioners of the County are hereinafter referred to collectively as the "Resolution". This Bond is subject to all the terms and conditions of the Resolution. This Bond is one of the revenue bonds designated as Special Assessment Revenue Bonds, Series 1989, all of like date and tenor, except as to numbers, denominations, dates of maturity, rates of interest and provisions for redemption, in the aggregate principal amount of Dollars ) e make a depositintotheou "Impact Fee Trust Fund for the Expansion of the Indian River County Sewerage System" of the County, which shall be applied to the costs of expansion of the sewage disposal system of the County, including without limitation the acquisition and construction of a physically independent sewer system to be known as the North County Wastewater System, and (2) to establish certain other funds and accounts and to pay certain costs and expenses relating to issuance of the Bonds, all as more fully set forth in the Resolution. The Bonds and the interest due thereon are payable solely from, and are secured solely by a first lien upon and pledge of, the proceeds of certain Special Assessments in Lieu of Impact Fees (the "Assessments") levied upon property, with the consent of the owners thereof, pursuant to Ordinance No. 86- 88, Resolution No. 87-142, Resolution No. 89-12 and Resolution No. 89-20 of the County and, pursuant to and in accordance with the terms and provisions of the Intergovernmental Agreement between the County and the City of Sebastian, Florida (the "City"), dated February 3, 1987, Ordinance No. 0-87-01, Resolution No. R-87-85, Resolution No. R-89-07 and Resolution No. R-89-12 of the City; the interest, prepayment charges and penalties received in connection with the Assessments; the proceeds of the User Letters of Credit, as that phrase is defined in the Resolution, which secure payment of certain of the Assessments; and certain funds and accounts and the earnings thereon that have been pledged for the payment of the principal of, interest and premium, if any, on the Bonds, all as provided in the Resolution (collectively, the "Pledged Funds"). This Bond does not constitute an indebtedness of the County within the meaning of any constitutional or statutory provision or limitation. The liens upon property in connection with the Assessments may be released upon deposit with the County or the City, as applicable, of money or other adequate security, all as more particularly described and provided in the Resolution. This Bond does not constitute a general indebtedness of the County or the City within the meaning of any constitutional or statutory provision or limitation. It is expressly agreed by the Registered Owner of this Bond that such Registered Owner shall never have the right to require or compel the exercise of the ad valorem taxing power of the County or the City for the payment of the principal of, interest or premium, if any, on this Bond or the making of any other payments specified by the Resolution. It is further agreed between the County and the Registered Owner of this Bond that this Bond and the Mtom