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HomeMy WebLinkAbout1993 12 09 - Distribution List1=2/09/93 14:23 $4074268022 NGN ORLANDO -jai CITY OF SEBASTIA 2001/020 NABORS, GIBLIN & NICKERSON. P. A. ATTORNEYS AT LAW SIGNATURE PLAZA, SUITE 1060 201 SOUTH ORANGE AVENUE ORLANDO, FLORIDA 32601 SARAH M. BLEAKLEY TELEPHONE (407) 426-7585 BARNETT DANK BUILDING. SUITE BOO MAUREEN McCARTHY DAYGHTON TELECOPY(407) 426-8022 315 SOUTH CALHOUN STREET THOMAS H. DUFFY TALLAHASSEE. FLORIDA 32301 L. THOMAS GIBLIN (90xl 22.•4070 MARK G. LAwSON TELCCOPY (90.) 224.4073 STEVEN C. MILLER MARK T. MUSTIAN THE POINT(. SUITE 1060 ROBERT L. NABORS 2302 ROCKY POINT DRIVE GEORGE H. NICKERSON. JR. GREGORY T. 9TEWART TAMPA FLORIDA 33507 JOHN R. STONES TELCPNONE(8131281-2222 WILLIAM 0. TYLER TELECOPT (BI3) 291-0128 JEwN E. WIL50N Thr infarna4n mnlamed in#his OmYmis+balcaCPlncypNWegtdmldmnfalmtiaL dl is inrmded onlyfur#he use ufshe individual or cntily named below. j(Ne rmderaflhiy musagc o rta! Osa in/mdrd ruipienL you an hereby srotifid d� any dGseminaNan, danibudan or mpy of lhtr mmmunir n is s6idlypmhibikA lfyou have rtseivd #hL mmmuntmdon N error, please notify ur mumedmidy by telephane called and retia the origkal merrage to ur at the above addrerr Tia the U. S. p4aal Service. We will rarj0 neyouforpostage_ Thanlryou. '4 VIA FACSIMILE /-Z Q DATE: v 12-x-93 RE: Telecopy consists ofpage(s), including cover sheet. If you have any questions or ail to receive any portion of the telecopy, please call (407) 426-7595. 12/09/93 14:23 '$4074268022 CITY OF SEBASTIAN Kathryn O'Halloran, Acting City Manager x38 lifJlarilyn Swichkow, Finance Director x40 "ichard Votapka, Utilities Director x45 1225 Main Street Sebastian, Florida 32958 Phone: (407) 589.5330 Fax: (407) 589.5570 CITY COUNSEL Charl�h, Esquire FRESE, NASH & TORPY, P.A. 930 South Harbor City Boulevard Suite 505 Melbourne, Florida 32901 Phone: (407) 984-3300 Fax: (407F 951-3741 BOND COUNSEL Mark T. Mustian, Esquire NABORS, GIBLIN & NICKERSON, 315 South Calhoun Street Suite 800 Tallahassee, Florida 32301 Phone: (9041224.4070 Fax: (904) 224-4073 JAan E. Wilson, Esquire 201 South Orange Avenue Suite 1060 Orlando, Florida 32801 Phone: (4071426-7595 Fax: (407) 426.8022 UNDERWRITER Arthur Ziev RAYMOND JAMES & ASSOCIATES, INC. 2255 Glades Road, Suite 120A Boca Raton, Florida 33431 Phone: (800) 327.1055 Fax: (407) 998.0198 NCel�ill Ur CITY OF SEBASTIAN Utilities System Revenue Bonds, Series 1993A Uistribution List Page 1 of 2 .++ CITY OF SEBASTIA UNDERWRITER'S COUNSEL Robert Freeman, Esquire z SQUIRE, SANDERS & DEMPSEY One Enterprise Center 225 Water Street, 21st Floor Jacksonville, Florida 32202 Phone: (904) 353-1264 Fax: (904) 356-2986 PROJECT ENGINEERS Hal Schmidt HARTMAN & ASSOCIATES, INC. 201 East Pine Street Suite 1000 Orlando, Florida 32801 Phone: (800) 881-3955 Fax: (407) 8393790 Q1002/020 B-10 eu55a CERTIFIED PUBLIC ACCOUNTANTS Debbie Bradley HOYMAN, DOBSON & COMPANY, P.A. 6767 North Wickham Road Melbourne, Florida 32940 Phone: (407) 255-0088 Fax: (407) 259.8648 RATE ANALYSTS Robert Ori HARTMAN & ASSOCIATES, INC. 201 East Pine Street Suite 1000 Orlando, Florida 32801 Phone: (800) 881-3955 Fax: (4071839-3790 w m..e 4.19ese c:uaoxaa, 1;00 . 1:2/09/93 14:24 '8'4074268022 NGN ORLANDO X44 CITY OF SEBASTIA 0 003/020 PAYING AGENTIREGISTRAR Jenny Reid BARNETT BANKS TRUST COMPANY, N.A. 9000 Southside Boulevard Building 100 Jacksonville, Florida 32256 Phone: (904) 464-2804 Fax: (904) 464.2255 MUNICIPAL BOND INSURER Larry E. Levitz MUNICIPAL BOND INVESTORS ASSURANCE CORPORATION 113 King Street Armonk, New York 10504 Phone: )914) 765-3513 Fax (914) 765.3163 WWOK.6A. 10938 Page 2 of 2 c123010@ IM. ,. 1,2/09/93 14:24 $4074268022 NGN ORLANDO +44 CITY OF SEBASTIA Z004/020 NABORS, GIBLIN & NICKERSON, P. A. ATTORNEYS AT LAW SIGNATURE PLAZA, SUITE 1060 201 SOUTH ORANGE AVENUE ORLANDO, FLORIDA 32801 SARAH M ELEAKLEY MAWOEEN MICYRTHY OAUGMTON THOMAS M, DAFFY L. TMOMAS GIBLIN MARK G. LAWSON STEVEN C, MILLER MARK T. MU5TI11 ROCCPT L. NASORS GEORGE M. NICKERSON. JR. GREGORT T. STEWART JOHN R. STOKES WILLIAM 0, TYLER JEAN E. WILSON TELEPHONE (407) 026-7595 TELEGOPY (4O7) 428-8022 December 9, 1993 VIA FACSIMILE DK.RNETT CANS 6LII10ING. SUITE 800 315 SOVTM GALHOYN STREET TALLAHASSEE, FLORIDA 32301 (RO4)224-x070 TELECOPY 1904) 224.4073 TO THE PERSONS ON THE ATTACHED DISTRIBUTION LIST THE POINTE. SUITE 1COD 2502 ROCKY POINT DRIVE TAMPA, FLORIDA 33607 TELEPHONE (813) 281-2222 TELECOPY (813) 281-0129 Re: City of Sebastian Utilities System Revenue Bonds, Series 1993 Ladies & Gentlemen: Enclosed please find a complete bond form for the first bond, and first pages of the remaining 13 bonds. The bonds will be printed and forwarded to the City of Sebastian tonight,' so your comments or revisions are requested by 3:30 this afternoon. Please telephone if you have any questions. Very truly yours, Jean E. Wilson /jew enclosure G:U23R2.Z 1,2/09/93 14:24 No. R-1 $4074268022 NGN ORLANDO ... CITY OF SEBASTIA Q005/020 UNITED STATES OF AMERICA STATE OF FLORIDA CITY OF SEBASTIAN UTILITIES SYSTEM REVM4US BOND, SERIES 1993 $50,000 Interest Maturity Date of Rate Date Oria±nal Issue CUSIP 3.40% October 1, 1996 December 1, 1993 812845AC9 Registered Holder: Cede & Co. Principal Amount: FIFTY THOUSAND AND NO/100 DOLLARS KNOW ALL MEN BY THESE PRESENTS, that the City of Sebastian, Florida, a political subdivision of the State of Florida (the ,,Issuer,,), for value received, hereby promises to pay, solely from the Pledged Funds hereinafter described, to the Registered Holder identified above, or registered assigns as hereinafter provided, on the Maturity Date identified above, the Principal Amount identified above and to pay interest on such Principal Amount from the Date of Original Issue identified above or from the most recent interest payment date to which interest has been paid at the Interest Rate per annum identified above on April 1 and October 1 of each year commencing April 1, 1994 until such Principal Amount shall have been paid, except as the provisions hereinafter set forth with respect to redemption prior to maturity may be or become applicable hereto. Such Principal Amount and interest and the premium, if any, on this Bond are payable in any coin or currency of the United States of America which, on the respective dates of payment thereof, shall be legal tender for the payment of public and private debts. Such Principal Amount and the premium, if any, on this Bond, are payable at the principal corporate trust office of Barnett Banks Trust Company, N -A., Jacksonville, Florida, as Paying Agent. Payment of each installment of interest shall be made to the person in whose name this Bond shall be registered on the registration books of the Issuer maintained by Barnett .Banks Trust Company, N.A., Jacksonville, Florida, as Registrar, at the close of business on the date which shall be the fifteenth (15th) day of the calendar month (whether or not a business day) next preceding each interest Payment date and shall be paid by check or draft of the Paying Agent to such Registered Holder at the address appearing on such registration books or, at the option of such Paying Agent, and at the request and expense of the Holder of $500,000 or more in principal amount, by bank wire transfer for the account of such Holder. 12/09/93 14:25 '$4074288022 NGN ORLANDO +++ CITY OF SEBASTIA [MOOS/020 This Bond is one of an authorized issue of Bonds in the aggregate principal amount of $5,000,000 (the "Bonds") of like data, tenor and effect, except as to maturity date, interest rate, denomination and number, issued to finance the cost of the acquisition of and the construction and acquisition of certain additions, extensions and improvements to the General Development Utilities Water and Sewer System, in and for the Issuer, under the authority of and in full compliance with the Constitution and laws of the State, particularly Chapter 166, Florida Statutes, and other applicable provisions of law (the "Act"), and a resolution duly adopted by the City Council of the Issuer on December 8, 1993, as supplemented (the "Resolution"), and is subject to all the terms and conditions of the Resolution. This Bond and the interest hereon are payable solely from and secured by a lien upon and a pledge of the Net Revenues (as defined in the Resolution) to be derived from the operation of the Issuer's water and sewer system (the "System"), the Impact Fees (as defined in the Resolution), until released as provided in the Resolution, the Half -Cent sales Tax Revenues, and until applied in accordance with the provisions of the Resolution, all moneys, including investments thereof, in the accounts and subaccounts established by the Resolution, except (A) to the extent moneys therein shall be required to pay the Operating Expenses (as defined in the Resolution) of the System in accordance with the terms of the Resolution, (B) to the extent moneys in each subaceount of the Reserve Subaccount shall be pledged solely for the payment of the Series of Bonds for which it was established in accordance with the provisions of the Resolution and (C) amounts in the Rebate Account (collectively, the "Pledged Funds"). It is expressly agreed by the Registered Holder of this Bond that the full faith and credit of the Issuer are not pledged to the payment of the principal of, premium, if any, and interest on this Bond and that such Holder shall never have the right to require or compel the exercise of any taxing power of the Issuer to the payment of such principal, premium, if any, and interest. This Bond and the obligation evidenced hereby shall not constitute a lien upon the System or any other property of the Issuer, but shall constitute a lien only on, and shall be payable solely from, the Pledged Funds in accordance with the terms of the Resolution. The transfer of this Bond is registrable in accordance with the terms of the Resolution only upon the books of the Issuer kept for that purpose at the principal corporate trust office of the Registrar by the Registered Holder hereof in person or by his attorney duly authorized in writing, upon the surrender of this Bond together with a written instrument of transfer satisfactory to the Registrar duly executed by the Registered Holder or his attorney duly authorized in writing, and thereupon a new Bond or Bonds in the same aggregate principal amount shall be issued to the transferee in exchange therefor, and upon the payment of the charges, if any, therein prescribed. The Bonds ars issuable in the form of fully registered Bonds in the denomination of $5,000.00 and any integral multiple thereof, not exceeding the aggregate principal amount of the Bonds. The Issuer, the Registrar and any Paying Agent may treat the Registered Holder of this Bond as the absolute owner hereof for all purposes, whether or not this Bond shall be overdue, and shall not be affected by any notice to the contrary. The Issuer and the Registrar shall not be obligated to make any exchange or transfer of the Bonds during the fifteen (15) days next preceding an interest payment date or, in the case of any 2 12/09/80 14:25 $`4074288022 NGN ORLANDO ... CITY OF SEBASTIA Z007/020 proposed redemption of the Bonds,, then, during the £if teen (15) days next preceding the date of the first mailing of notice of such redemption and, in the case of the Bonds called for redemption, continuing until such redemption date. The Issuer has established a book -entry system of registration for the Bonds. Except as specifically provided otherwise in the Resolution, an agent will hold this bond on behalf of the beneficial owner hereof.• By acceptance of a confirmation of purchase, delivery or transfer, the beneficial owner of this bond shall be deemed to have agreed to such arrangement. The Series 1993 Bonds maturing October 1 of the years 1996 through 2003, inclusive, are not subject to redemption prior to maturity. The Series 1993 Bonds maturing October, 1, 2004, and thereafter may, at the option of the Issuer, be called for redemption prior to maturity in whole on any date on or after October 1, 2003, or in part, on October 1, 2003, or on the first business day of any month thereafter, in such maturity or maturities as shall be designated by the Issuer and by such method within a maturity as the Registrar shall deem fair and appropriate It less than a full maturity, from any legally available moneys at the following redemption prices (expressed as percentages of the principal amount) get forth below, plus accrued interest to the redemption date: Redemption Date (Both Dates Inclusive) Redemution Price October 1, 2003 through September 30, 2004 102% October 1, 2004 through September 30, 2005 101 October 1, 2005 and thereafter 100 The Series 1993 Bonds maturing on October 1, 2013, are subject to mandatory redemption by Amortization Installments prior to maturity in part by lot at a redemption price equal to the principal amount thereof and accrued interest thereon to the date fixed for redemption, without premium, as follows: October 1 2008 2009 2010 2011 2012 2013* *Maturity Principal Amount $150,000 160,000 170,000 175,000 185,000 195,000 The Series 1993 Bonds maturing on October 1, 2023 are subject to mandatory redemption by Amortization Installments prior to maturity in part by lot at a redemption price equal to the principal amount thereof and accrued interest thereon to the date fixed for redemption, without premium, as follows: 12/09/93 14:28 '6`4074288022 October 3- 2014 2014 2015 2016 2017 2019 2019 2020 2021 2022 2023* *Maturity NGN ORLANDO +,+ CITY OF SEBASTIA Principal Amount $205,000 220,000 230,000 240,000 255,000 270,000 285,000 300,000 315,000 335,000 11008/020 Redemption of this Bond under the preceding paragraphs shall be made as provided in the Resolution upon notice given by first class mail sent at least thirty (30) days prior to the redemption date to the Registered Holder hereof at the address shown on the registration books maintained by the Registrar; provided, however, that failure to mail notice to the Registered Holder hereof, or any defect therein, shall not affect the validity of the proceedings for redemption of other Bonds as to which no such failure or defect has occurred. In the event that less than the full principal amount hereof shall have been called for redemption, the Registered Holder hereof shall surrender this Bond in exchange for one or more Bonds in an aggregate principal amount equal to the unredeemed portion of principal, as provided in the Resolution. Reference to the Resolution and any and all resolutions supplemental thereto and modifications and amendments thereof and to the Act is made for a description of the pledge and covenants securing this Bond, the nature, manner and extent of enforcement of such pledge and covenants, and the rights, duties, immunities and obligations of the Issuer. it is hereby certified and recited that all acts, conditions and things required to exist, to happen and to be performed precedent to and in the issuance of this Bond, exist, have happened and have been performed, in regular and due form and time as required by the laws and Constitution of the State of Florida applicable thereto, and that the issuance of the Bonds does not violate any constitutional or statutory limitations or provisions. Neither the members of the City Council of the Issuer nor any person executing this Bond shall be liable personally hereon or be subject to any personal liability or accountability by reason of the issuance. hereof. This Bond shall not be valid or become obligatory for any purpose until the certificate of authentication hereon shall have been signed by the Registrar. 12/06/60 14:26 $4074266022 NGN ORLANDO +++ CITY OF SEBASTIA [Moog/020 IN WITNESS WHEREOF, the City Council of the City of Sebastian, Florida has issued this Bond and has caused the same to be executed by the manual signature of its Mayor, and by the manual signature of its Clerk and its corporate seal or a facsimile thereof to be affixed or reproduced hereon, all as of the Met day of December, 1993. (SEAL) CITY OF SEBASTIAN, FLORIDA Mayor Clerk 5 12/09/93 14:28 $4074288022 NGN ORLANDO ... CITY OF SEBASTIA IMO10/020 STATEMENT OF SNSURANCE The Municipal Bond Investors Assurance Corporation (the "insurer") has issued a policy containing the following provisions, such policy being on file at Barnett Banks Trust Company, N.A., Jacksonville, Florida. The Insurer, in consideration of the payment of the premium and subject to the terms of this policy, hereby unconditionally and irrevocably guarantees to any owner, as hereinafter defined, of the following described obligations, the full and complete payment required to be made by or on behalf the Issuer to Barnett Banks Trust Company, N.A. or its successor (the "Paying Agent") of an amount equal to (i) the principal of (either at the stated maturity or by any advancement of maturity pursuant to a mandatory sinking fund payment) and interest on, the obligations (as that term is defined below) as such payments shall become due but shall not be so paid (except that in the event of any acceleration of the due date of such principal by reason of mandatory or optional redemption or acceleration resulting from default or otherwise, other than any advancement of maturity pursuant to a mandatory sinking fund payment, the payments guaranteed hereby shall be made in such amounts and at such times as such payments of principal would have been due had there not been any such acceleration); and (ii) the reimbursement of any such payment which is subsequently recovered from any owner pursuant to a final judgment by a court of competent jurisdiction that such payment constitutes an avoidable preference to such owner within the meaning of any applicable bankruptcy law. The amounts referred to in clauses (i) and (ii) of the preceding sentence shall be referred to herein collectively as the "Insured Amounts." "obligations" shall mean: $5,000,000 City of Sebastian, Florida Utilities System Revenue Bonds, Series 1993 Upon receipt of telephonic or telegraphic notice, such notice subsequently confirmed in writing by registered or certified mail, or upon receipt of written notice by registered or certified mail, by the Insurer from the Paying Agent or any owner of an obligation the payment of an Insured Amount for which is then due, that such required payment has not been made, the Insurer on the due date of such payment or within one business day after receipt of notice of such nonpayment, whichever is later, will make a deposit of funds, in an account with Citibank, N.A., in New York, New York, or its successor, sufficient for the payment of any such Insured Amounts which are then due. Upon presentment and surrender of such Obligations or presentment of such other proof of ownership of the obligations, together with any appropriate instruments of assignment to evidence the assignment of the Insured Amounts due on the Obligations as are paid by the Insurer, and appropriate instruments to effect the appointment of the insurer as agent for such owners of the Obligations in any legal proceeding related to payment of Insured Amounts on the Obligations, such instruments being in a form satisfactory to Citibank, N.A., Citibank, N.A. shall disburse to such owners or the Paying Agsnt payment of the insured Amounts due on such Obligations, less any amount held by the Paying Agent for the payment of such Insured Amounts and legally available therefor. This policy does not insure against loss of any prepayment premium which may at any time be payable with respect to any obligation. 6 1;/09/97 14:27 '$4074288022 NGN ORLANDO ... CITY OF SEBASTIA 1@011/020 As used herein, the term "owner" shall mean the registered owner of any Obligation as indicated in the books maintained by the Paying Agent, the Issuer, or any designee of the Issuer for such purpose. The term owner shall not include the Issuer or any party whose agreement with the issuer constitutes the underlying security for the Obligations. Any service of process on the Insurer may be made to the Insurer at its offices located at 113 King Street, Armonk, New York 10504. This policy is non-cancelleable for any reason. The premium on this policy is not refundable for any reason including the payment prior to maturity of the Obligations. The insurance provided by this Policy is not covered by the Florida Insurance Guaranty Association created under Chapter 631, Florida Statutes. MUNICIPAL BOND INVESTORS ASSURANCE CORPORATION 04 12/09/93 14:27 $`4074288022 NGN ORLANDO +.. CITY OF SEBASTIA 11012/020 CERTIFICATE OF AUTHE=XCATMON This Bond is one of the Bonds of the Issuer described in the within -mentioned Resolution. DATE OF AUTHEN'T'ICATION: BARNETT BANKS TRUST COMPANY, N.A. Registrar By: Authorized Offioer a 12/09/93 14:27 '04074268022 NGN ORLANDO .4. CITY OF SEHASTIA 0013/020 Unless this certificate is presented by an authorized representative of The Depository Trust Company to the Issuer or its agent for registration of transfer, exchange or payment, and any certificate issued is registered in the name of Cede & Co. or such other name as required by the authorized representative of The Depository Trust Company and any payment is made to Cede & Co., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL since the registered owner hereof, Cede & Co., has an interest herein. ASSIGNMEMIT FOR VALUE pMCEIVED, the undersigned sells, assigns and transfers unto Insert social security or other Identifying Number of Assignee (Name and Address of Assignee) the within Bond and does hereby irrevocably constitute and appoint as attorney to register the transfer of the said Bond on the books kept for registration thereof with full power of substitution in the premises. Dated: Signature guaranteed: NOTICE: Signature(s) must be guaranteed by a member firm of the New York Stock Exchange O= a commercial bank or trust company. NOTICE: The signature to this assignment must correspond with the name of the Registered Holder as it appears upon the face of the within Bond in every particular, without alteration or enlargement or any change whatever and the social Security or other identifying number of such assignee must be supplied. 9 12/09/93 14:28 No. R-2 $4074268022 NGN ORLANDO --- CITY OF SEBASTIA IM014/020 UNITED STATES OF AMERICA STATE OF FLORIDA CITY OF SEBASTIAN UTILITIES SYSTEM REVENUE BOND, SERIES 1993 $75,000 Interest Maturity Date of Rate _Date Original Issue CUSIP 3.6096 October 1, 1997 December 1, 1993 812845AD7 Registered Holder: Cede & Co. Principal Amount: SEVENTY-FIVE THOUSAND AND NO/100 DOLLARS No. R-3 UNITED STATES OF AMERICA STATE OF FLORIDA CITY OF SEBASTIAN UTILITIES SYSTEM REVENUE BOND, SERIES 1993 $100,000 Interest Maturity Date of Rate Date Original Issue CUSIP 3.70% October 1, 1998 December 1, 1993 812845AES Registered Holder: Cede & Co. Principal Amount: ONE HUNDRED THOUSAND AND NO/100 DOLLARS KNOW ALL MEN BY THESE PRESENTS, that the City of Sebastian, Florida, a political subdivision of the State of Florida (the ^Issuer"), for value received, hereby promises to pay, aolely from the Pledged Funds hereinafter described, to the Registered Holder identified above, or registered assigns as hereinafter provided, on the Maturity Date identified above, the Principal Amount identified ., - r .. r - _L. I— _4_ n _c 12/09/93 14:28 No. R-4 %x4074268022 NGN ORLANDO +++ CITY OF SEBASTIA 1a015/020 UNITED STATES OF AMERICA STATE OF FLORIDA CITY OF SEBASTIAN UTILITIES SYSTEM REVENUE BOND, SERIES 1993 $100,000 Interest Maturity Date of Rate Date Ori4inal Issue CUSIP 3.90% October 1, 1999 December 1, 1993 812845AF2 Registered Holder: Cede & Co. Principal Amount: ONE HUNDRED THOUSAND AND NO/100 DOLLARS No. R-5 UNITED STATES OF AMERICA STATE OF FLORIDA CITY OF SEBASTIAN UTILITIES SYSTEM REVENUE BOND, SERIES 1993 V $105,000 Interest Maturity Date of Rate Date Original Issue CUSIP 4.00 October 1, 2000- December 1, 1993 81284SAG0 Registered Holder: Cede & Co. Principal Amount: ONE HUNDRED FIVE THOUSAND AND NO/100 DOLLARS KNOW ALL MEN BY THESE PRESENTS, that the city of Sebastian, Florida, a political subdivision of the State of Florida (the "Issuer"), for value received, hereby promises to pay, solely from the Pledged Funds hereinafter described, to the Registered Holder identified above, or registered assigns as hereinafter provided, on identified the Maturity Date identified above, the Principal Amount 12/09/93 14:28 $4074268022 No_ R-6 NGN ORLANDO +++ CITY OF SEDASTIA 0016/020 UNITED STATES OF AMERICA STATE OF FLORIDA CITY'OF SEBASTIAN UTILITIES SYSTEM REVENUE BOND' SERIES 1993 $110,000 Interest Maturity Date of Orivinal Issue CUSIP Rate Data 4.20% October 1, 2001 December 1, 1993 812845AHB Registered Holder: Cede & Co. Principal Amount: ONE HUNDRED ONE HUNDRED TEN THOUSAND AND NO/100 DOLLARS principal Amount: No. R-7 UNITED STATES OF AMERICA STATE OF FLORIDA CITY OF SEBASTIAN UTILITIES SYSTEM REVENUE BOND, SERIES 1993 $115,000 Interest Maturity Date of Original Issue CU Rate Date 4.30 October 1, 2002 December 1, 1993 812845AJ4 Registered Holder: Cede & Co. Principal Amount: ONE HUNDRED FIFTEEN THOUSAND AND NO/100 DOLLARS KNOW ALL MEN BY THESE PRESENTS, that the City of Sebastian, Florida, a political subdivision of the State of Florida (the "Issuer"), for value received, hereby promises to pay, solely from the Pledged Funds hereinafter described, to the Registered Holder identified above, or registered assigns as hereinafter provided, On the Maturity Date identified above, the Principal Amount identified ,..r... aj-_ nn such Principal Amount from the Date of 12/09/93 14:29 $4074288022 NGN ORLANDO +++ CITY OF SEBASTIA IM017/020 NO- R-8 UNITED STATES OF AMERICA STATE OF FLORIDA CITY OF SEBASTIAN UTILITIES SYSTEM REVENUE BOND, SERIES 1993 $120,000 Interest Maturity Date of Rate Date Oriainal Issue CUSIP 4.45% October 1, 2003 December 1, 1993 812845AK1 Registered Holder: Cede & Co. Principal Amount: ONE HUNDRED TWENTY THOUSAND AND N0/100 DOLLARS $125,000 No. R-9 UNITED STATES OF AMERICA STATE OF FLORIDA CITY OF SEBASTIAN UTILITIES SYSTEM REVENUE BOND, SERIES 1993 Interest Maturity Date of Rate Date Original Tssue CUSIP 4.60°s October 1, 2004 December 1, 1993 s12845AL9 Registered Holder: Cede & co- principal Amount: ONE RED TWENTY-FIVE THOUSAND AND N0/100 DOLLARS KNOW ALL MEN BY THESE PRESENTS, that the City of Sebastian, Florida, a political subdivision of the State of Florida olely from '-Issuer"), for value received, hereby promises ay, Sold Holder the Pledged Funds hereinafter described, the Reg identified above, or registered assigns as hereinafter provided, on the Maturity Date identified above, the Principal Amount identified above and to pay interest�on such Principal nmt}� most recent i nterest 12/09/93 14:29 $4074288022 NGN ORLANDO No. R-10 + CITY OF SEBASTIA IM018/020 'UNITED STATES OF AMERICA STATE OF FLORIDA CITY -OF SEBASTIAN UTILITIES SYSTEM REVENUE BOND, SERIES 1993 $130,000 Interest Maturity Date of Rate Date Oriainal Issue CUSIP 4.75'% October 1, 2005 December 1, 1993 812845AM7 Registered Holder: Cede & Co_ Principal Amount: ONE HUNDRED THIRTY THOUSAND AND 110/100 DOLLARS No_ R-11 UNITED STATES OF AMERICA STATE OF FLORIDA CITY OF SEBASTIAN UTILITIES SYSTEM REVENUE BOND, SERIES 1993 $135,000 Interest Maturity Date of CUSIP Rate Date Original Issue -4.90 October 1, 2006 December 1, 1993 812845AN5 Registered Holder: Cede & Co. Principal Amount: ONE HUNDRED THIRTY-FIVE THOUSAND AND NO/100 DOLLARS KNOW ALL MEN BY THESE PRESENTS, that the City of Sebastian, Florida, a political subdivision of the State of Florida (the "Issuer"), for value received, hereby promises to pay, solely from the Pledged Funds hereinafter described, to the Registered Holder identified above, or registered assigns as hereinafter provided, on identified 12/09/93 14:29 $4074268022 NGN ORLANDO +++ CITY OF SEBASTIA @1018/020 No. R-12 $145,000 UNITED STATES OF AMERICA STATE OF FLORIDA CITY OF SEBASTIAN UTILITIES SYSTEM REVENUE BOND, SERIES 1993 Interest Maturity Date of Original Issue CUSIp Rate Date 5.00% October 1, 2007 December 1, 1993 81284SAPO Registered Holder: Cede & Co. Principal Amount: ONE HUNDRED FORTY-FIVE THOUSAND AND NO/100 DOLLARS No. R-13 Interest Rate 5.40% UNITED STATES OF AMERICA STATE OF FLORIDA CITY OF SEBASTIAN UTILITIES SYSTEM REVENUE BOND, SERIES 1993 Maturity Date October 1, 2013 Data Of Original Issue December 1, 1993 $1,035,000 CUSIP 812845AV7 Registered Holder: Cede & Co. principal Amount: ONE MILLION THIRTY-FIVE THOUSAND AND NO/100 DOLLARS KNOW ALL MEN BY TnESE PRESENTS, that the City of Sebastian, Florida, a political subdivision of the State of Florida (the "Issuer"), for value received, hereby promises to pay, solely from the Pledged Funds hereinafter described, to the Registered Holder identified above, or registered assigns as hereinafter provided, on 12/09/93 14:30 No. R-14 $4074268022 NGN ORLANDO +4 CITY OF SEBASTIA IM 020/020 UNITED STATES OF AMERICA STATE OF FLORIDA CITY OF SEBASTIAN UTILITIES SYSTEM REVENUE BOND, SERIES 1993 $2,655,000 Interest Maturity Date of Rate Date Oricr±nal Issue CUSIP 5.45% October 1, 2023 December 1, 1993 812845BF1 Registered Holder: Cede & Co. Principal Amount: TWO MILLION SIX HUNDRED FIFTY-FIVE THOUSAND AND NO/100 DOLLARS KNOW ALL MSN BY THESE PRESENTS, that the City of Sebastian, Florida, a political subdivision of the State of Florida (the ,-Issuer"), for value received, hereby promises to pay, solely from the Pledged Funds hereinafter described, to the Registered Holder identified above, or registered assigns as hereinafter provided, on the Maturity Date identified above, the Principal Amount identified above and to pay interest on such Principal Amount from the Date of Original Issue identified above or from the most recent interest payment date to which interest has been paid at the Interest Rate per annum identified above on April 1 and October 1 of each year commencing April 1, 1994 until such Principal Amount shall have been paid, except as the provisions hereinafter set forth with respect to redemption prior to maturity may be or become applicable hereto. Such Principal Amount and interest and the premium, if any, on this Bond are payable in any coin or currency of the United States of America which, on the respective dates of payment thereof, shall be legal tender for the payment of public and private debts. Such Principal Amount and the premium, if any, on this Bond, are payable at the principal corporate trust office of Barnett Banks Trust Company, N -A., Jacksonville, Florida, as Paying Agent. Payment of each installment of interest shall be made to the person in whose name this Bond shall be registered on the registration books of the Issuer maintained by Barnett Banks Trust Company, N.A., Jacksonville, Florida, as Registrar, at the close of business on the date which shall be the fifteenth (15th) day of the calendar month (whether or not a business day) next preceding each interest payment date and shall be paid by check or draft of the Paying Agent to such Registered Holder at the address appearing on such registration books or, at the option of such Paying Agent, and at the request and expense of the Holder of $500,000 or more in principal amount, by bank wire transfer for the account of such Holder.