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they severally fall due, unless registered. <br />interest on this Bond are payable at <br />U <br />United States of America. <br />Both principal of and <br />.r <br />, in lawful money of the <br />This Bond is one of an authorized issue of Bonds in the <br />aggregate principal amount of $236,000 of like nate, tenor and <br />effect, except as to number, denomination and date of maturity, <br />issued to finance a part of the cost of acquiring, erecting and <br />constructing extensions and improvements to the combined water and <br />sewer system of the Issuer (the "System"), under the authority of <br />and in full compliance with the Constitution and Statutes of the <br />State of Florida, particularly Part I of Ch. 159, Florida Statutes <br />(1977), and a resolution duly adopted by the Issuer on January 23, <br />1978, as supplemented by a resolution duly adopted by the Issuer on <br />, 1979 (jointly, the "Resolution"), and is subject to <br />all the terms and conditions of the Resolution. <br />This Bond and the interest thereon are payable solely <br />from and secured by a prior lien upon and a pledge of the gross <br />revenues to be derived from the operation of the System, in the <br />manner described in the Resolution. It is expressly agreed by the <br />holder of this Bond that the full faith and credit of the Issuer <br />are not pledged to the payment of the principal of and interest on <br />this Bond and that such holder shall never have the right to <br />require or compel the exercise of any taxing power of the Issuer to <br />the payment of such principal and interest or the cost of main- <br />taining, repairing and operating the System. This Bond and the <br />obligation evidenced hereby shall not constitute a lien upon the <br />System or any part thereof or upon any other property of the Issuer <br />or situated within its corporate limits, but shall constitute a <br />lien only on the gross revenues derived from the operation of. the <br />System. <br />The Bonds of this issue are payable on a parity, equally <br />and ratably, from such gross revenues with the Issuer's <br />Water and Sewer Revenue Bonds, Series 1979 authorized pursuant to <br />said resolution adopted by the Issuer on January 23, 1978 (the <br />-10- <br />