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of the facilities and the guaranteed entitlement portion of the <br />State revenue sharing trust funds, in the manner provided in the <br />Resolution. <br />The County in the Resolution has covenanted and agreed <br />with the holders of the bonds of this issue to fix, establish and <br />maintain such rates and collect such fees, rentals or other charges <br />for the services of the facilities and to revise the same from <br />time to time whenever necessary, as will always provide revenues <br />in each year sufficient to pay one (1) hundred per centum (100%) <br />of all operating and maintenance costs of the facilities in such <br />year, (2) one hundred per centum (100%) of all required deposits <br />into the Reserve Account in the Sinking Fund and into the Renewal <br />and Replacement Fund established by the Resolution in such year, and <br />(3) one hundred fifteen per centum (115%) of the amount of principal <br />and interest becoming due in such year on the bonds of this issue <br />and on all other obligations payable on a parity therewith, and <br />that such rates, fees, rentals or other charges shall not be reduced <br />so as to be insufficient to provide adequate revenues for such <br />purposes; and the County has entered into certain further covenants <br />with the holders of the bonds of this issue for the terms of which <br />reference is made to the Resolution. <br />It is hereby certified and recited that all acts, conditions <br />and things required to exist, to happen and to be performed precedent <br />to and in the issuance of this bond, exist, have happened and have <br />been performed in regular and due form and time as required by the <br />Laws and Constitution of the State of Florida applicable thereto, and <br />that the issuance of the bonds of this issue does not violate any <br />constitutional or statutory limitation or provision. <br />This bond and the coupons appertaining thereto are and <br />have all the qualities and incidents of a negotiable instrument <br />under the law merchant and the Laws of the State of Florida. <br />This bond may be registered as to principal only in <br />accordance with the provisions endorsed hereon. <br />IN WITNESS WHEREOF, Indian River County, Florida, has <br />issued this bond and has caused the same to be signed by the Chairman <br />-12- <br />