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r. <br />provisions hereof and at such time constituting part hereof, which term some- <br />times is referred to in this document by use of such words as "hereto", <br />"hereby", "herein", "hereof", "hereunder" or other descriptive words or phrases <br />having similar import. <br />"Series 1986 Notes" or "Notes" means the Water and Sever Revenue <br />Bonds, Series 1986, Anticipation Notes, dated as of a date to be determined, in <br />the maximum aggregate principal amount not to exceed $9,200,000, authorized for <br />issuance under this Resolution. <br />"State" means the State of Florida. <br />"United States" means United States of America. <br />SEDT i OtJ 2 . fit rrur R 1 iY rr)o RFSOUJr <br />pursuant to §215.431, Fla. Stat <br />provisions of law. <br />ION. This Resolution is adapted <br />(1985), as amended, and other applicable <br />SECTION 3. FINDINGS. It is hereby ascertained, determined and <br />declared that: <br />A. Pursuant to an agreement with the Government the <br />Board adopted the Bonds Enabling Resolution authorizing the <br />issuance of the Bonds for the purpose of providing funds to <br />the Issuer to acquire and construct the Project. By such <br />agreement the Government has contracted with the Issuer to <br />purchase the Bonds upon substantial completion of the <br />Project and compliance with certain other guidelines. <br />B. The Bonds will be payable from and secured by a <br />parity lien upon and pledge of the gross revenues to be <br />derived from the operation of the System in the manner <br />-4- <br />4 <br />