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[• <br />"A RESOLUTION AUTHORIZING THE ISSUANCE OF NOT <br />EXCEEDING $9,200,000 WATER AND SEWER REVENUE <br />BONDS, SERIES 1986, ANTICIPATION NOTES OF <br />INDIAN RIVER COUNTY, FLORIDA; PROVIDING FOR THE <br />PAYMENT THEREOF AND THE SECURITY THEREFOR; <br />PROVIDING FOR THE RIGHTS OF THE HOLDERS OF <br />SUCH NOTES; MAKING CERTAIN COVENANTS AND <br />AGREEMENTS IN CONNECTION THEREWITH; PROVIDING <br />FOR RELATED MATTERS; AND PROVIDING AN <br />EFFECTIVE DATE." <br />(hereinafter called the "Note Resolution" <br />B. It is necessary and desirable to amend the Note <br />Resolution with regard to certain redemption provisions applicable <br />to the Series 1986 Notes and to supplement the Note Resolution by <br />establishing certain provisions regarding the application of the <br />proceeds of the Series 1986 Notes, the application of the <br />Construction Fund with respect to the Series 1986 Notes, and the <br />satisfaction, by the County, of certain requirements contained in <br />the Original Resolution and the Loan Commitment. <br />SECTION 4. Amendments to Note Resolution. The Note <br />Resolution is hereby amended as follows: <br />A. The form of Notes referenced in Subsection B of <br />Section 6 of the Note Resolution, as appearing on pages 12 through <br />22, inclusive, of the Note Resolution, is amended by deleting in <br />its entirety the third (3rd) complete paragraph on page 19 thereof. <br />B. Section 8 of the Note Resolution, beginning on page <br />28 thereof, is amended by deleting, in its entirety, the second <br />(2nd) paragraph thereof, beginning with the words "The Series 1986 <br />Notes are subject", through and including the words "prior to <br />January 1, 1988.- <br />C. Subsection C of Section 9 of the Note Resolution is <br />amended by adding the following subparagraph: <br />"(v) Loan Commitment Etc The County shall in good <br />faith endeavor to comply with the terms and conditions of the Loan <br />Commitment and Section 3.04(J) of Original Resolution, as emended <br />and supplemented, regarding the issuance of other obligations, and <br />shall exercise its best efforts to issue the Series 1986 Bonds or <br />to issue and Pell other bond anticipation notes in order to have <br />funds available from the issuance of such other obligations to pair <br />the Series 1986 Notes and the interest thereon as the same shall <br />become due. In the event that the Government for any reason does <br />not purchase the Series 1986 Bonds, the County shall in good faith <br />endeavor to otherwise issue and sell the Series 1986 Bonds or to <br />2 <br />