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Ar known as hater arxi Sewer Revenue Bonds, Series 1986, Anticipation Notes (the "Notes"), all of like date and tenor, except as to nuTbers and denominations, and all issued pursuant to the Constitution and laws of the State of Florida, particularly §215.431, Fla. Stat. (1985) and a resolution duly adopted by the Issuer on June 18, 1986 (the "Resolution"), in anticipation of the receipt by the Issuer of the proceeds from the sale of not exceeding $9,200,000 Water and Sewer Revenue Bonds, Series 1986 of the Issuer (the "Bonds"). Reference is made to the Resolution, a copy of which, duly certified by the Clerk of the Issuer, is on file at the principal corporate trust office of the Paying Agent, for, inter alia, a statement of the particular money of the Issuer pledged for payment of the principal of and interest on the Notes, the nature, extent and n-onner of enforcerT>ent of the security for the Notes, the rights of holders of the Notes and of the Paying Agent with respect to such security and the terms and conditions upon which notes of other series may be issued thereunder. This Note is payable from and secured by a prior lien upon and a pledge of the proceeds to be derived from the sale of the Bonds or the sale of bond anticipation notes issued to extend and renew the indebtedness evidenced hereby, This Note shall not constitute a general obligation of the Issuer, and the holder thereof shall never have the right to require or cooper the exercise of the power of the Issuer to levy ad valorem taxes for the payment of the principal of and interest on this Note. -ME TE13NS AND PROV I S I MS OF -1-1-11S NOTE ARE Mrr I PRIED ON T11E REVERSE HEREOF AJC Sim MiT I NUED TF:r- SAS AM PFrNI S I ONS SIV\1_1_ F Z ALL PUTOSES i LAVE 11 IE SAME EFFECT' AS TF I0O0-er l RJLLY SET F-U%n-I AT TF l I S PLJ CE. This Note shall not be entitled to any benefit under the Resolution nor shall it be valid, obligatory or enforceable for :my purpOSO until this Mote shall have been authenticated by the Paying Agent. -14--