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on the first day of September of each year upon the presentation <br />and surrender of the annexed coupons as they severally fall due, <br />unless registered. Both principal of and interest on this Bond <br />are payable at <br />in lawful money of the United States of America. <br />This Bond is one of an authorized issue of Bonds in <br />the aggregate principal amount of $402,500 of like date, tenor and <br />effect, except as to number, denomination, interest rate (if all <br />Bonds do not bear the same rate of interest) and date of maturity, <br />issued to finance a part of the cost of acquiring a combined water <br />and sewer system in the Issuer and erecting and constructing ex- <br />tensions and improvements thereto (the "System"), under the auth- <br />ority of and in full compliance with the Constitution and Statutes <br />of the State of Florida, particularly Ch. 159, Florida Statutes <br />. (1975), and a resolution duly adopted by the Issuer on <br />1977 (the "Resolution"), and is subject to all the terms and condi- <br />tions 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 Svstern, 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 are <br />not pledged to the payment of the principal of and interest on this <br />Bond and that such holder shall never have the right to require or <br />compel the exercise of any taxing power of the Issuer to the payment <br />of such principal and interest or the cost of maintaining, repairing <br />and operating the System. This Bond and the obligation evidenced <br />hereby shall not constitute a lien upon the System or any part <br />thereof or upon any other property of the Issuer or situated within <br />its corporate limits, but shall constitute a lien only on the <br />gross revenues derived from the operation of the System. <br />In and by the Resolution, the Issuer has covenanted <br />and agreed with the holders of. the Bonds of ilii,- issue that it <br />Will fix, establish, revise from time to time whenever necessary, <br />-9- <br />