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14. Not an Obligation of the Issuer. THE BONDS AND THE INTEREST ON THE <br />BONDS DO NOT AND WILL NOT CONSTITUTE A GENERAL INDEBTEDNESS OF THE <br />ISSUER WITHIN THE MEANING OF ANY CONSTITUTIONAL PROVISION OR <br />STATUTORY LIMITATION BUT WILL BE PAYABLE SOLELY FROM THE MONEYS AND <br />SOURCES PLEDGED FOR PAYMENT OF THE BONDS. NEITHER THE FAITH AND <br />CREDIT NOR THE AD VALOREM TAXING POWER OF THE ISSUER, THE STATE OF <br />FLORIDA OR ANY POLITICAL SUBDIVISION OF EITHER IS PLEDGED TO THE <br />PAYMENT OF THE PRINCIPAL OF OR INTEREST ON THE BONDS OR OTHER COSTS <br />INCIDENTAL TO THE BONDS, THE OBLIGATION OF THE ISSUER BEING LIMITED AS <br />PROVIDED IN THE LOAN AGREEMENT. <br />15. Resolution Constitutes a Contract. The Issuer covenants and agrees that <br />this Resolution constitutes a contract between the Issuer and the Purchaser from time <br />to time of the Bonds and that all covenants and agreements provided in this <br />Resolution, the Loan Agreement and the Loan Documents to be performed by the <br />Issuer will be for the equal and ratable benefit and security of any and all bondholders. <br />16. Severability. If any one or more of the covenants, agreements, or <br />provisions contained in this Resolution or in the Bonds are held contrary to any <br />express provisions of law or contrary to the policy of express law, though not <br />expressly prohibited, or against public policy, or shall for any reason whatsoever be <br />held invalid, then those covenants, agreements or provisions will be null and void and <br />will be deemed separable from the remaining covenants, agreements, or provisions <br />and will in no way affect the validity of any of the other provisions of this Resolution, <br />the Loan Agreement, the Bonds or any other Loan Document. <br />17. Reaealer. All resolutions or parts any resolution of the Issuer in conflict <br />with the provisions contained in this Resolution are, to the extend of any such conflict <br />superseded and repealed. <br />18. Effective Date. This Resolution will take effect immediately upon approval <br />by the Board of County Commissioners of Indian River County, Florida. <br />PASSED AND ADOPTED at a duly called meeting at which a quorum was <br />present on the 8th day of April, 1997. <br />(SEAL) <br />ATTEST: <br />{{ <br />By: <br />Name: Jeffrey K. Barton <br />Tit C rk of' <br />C' ;it Court <br />APPROVED AS TO LEGA FORM <br />AND CONTENT <br />�--- <br />Y <br />Name: Charles P. Vitunac <br />Title: County Attorney <br />34 <br />April 8, 1997 <br />BOARD OF COUNTY COMMISSIONERS <br />OF INDIAN RIVER COUNTY, FLORIDA <br />By: z <br />Name: Caro!0 K. EggegVJ <br />Title: Chairman <br />