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40 •® SECTION 3. RESOLUTION TO CONSTITUTE CONTRACT. In con- sideration of the acceptance of the Notes by those who shall hold the same from time to time, this resolution shall be deemed to be and shall constitute a contract between the Issuer and such holders. The covenants and agreements herein set forth to be performed by the Issuer shall be for the equal benefit, protec- tion and security of the legal holders of the Notes and the coupons attached thereto, all of which shall be of equal rank and without preference, priority or distinction of any of the Notes or coupons over any other thereof, ex-ept as expressly provided therein and herein. SECTION 4. AUTHORIZATION, DESCRIPTION AND FORM OF NOTES AND COUPONS. There are hereby authorized to be issued "Water and Sewer Revenue Bonds, Series 1982, Anticipation Notes" of the Issuer in an aggregate principal amount of not exceeding $2,750,000. -3- The Notes shall be issued as coupon Notes, shall be dated December 1, 1982, shall mature on May 1, 1985, and may be in such denomination or denominations as shall be acceptable to the purchaser thereof. The Notes shall be payable at the prin- cipal office of First National Bank of Florida Tampa Florida, and shall bear interest from their date at the rate of� % per annum, payable on May 1, 1983, and semiannually thereafter on November 1 and May 1 of each year until maturity, upon surrender of the appurtenant interest coupons as they severally mature. The Notes shall be payable to bearer in lawful money of the United States of America. If the Issuer has not received by July 1, 1984, a final corur,itment letter from the Government with respect to the Project acknowledging the intention of the Government to purchase the Bonds, the Issuer shall redeem the Notes on September 1, 1984, at a price of par and accrued interest to the date of redemption, from funds on deposit in the Construction Fund (including the Notes Payment Account therein), created and established by the Enabling Instrument, and from other legally available funds of the Issuer as provided herein. Notice of such redemption shall - be published by the Trustee at least 10 days prior to the redemp- tion date in a financial journal published in the Borough of Manhattan, City and State of New York. Interest shall cease to accrue on the Notes duly called for prior redemption, on the redemption date, if payment thereof has been duly provided. Pending preparation of definitive Notes, the Issuer may issue temporary Notes, in coupon form or fully registered form, in a manner not inconsistent with the provisions of this resolution. -3-