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<br />Exhibit B <br /> <br />FORM OF BOND ANTICIPATION NOTE <br /> <br />No.R- <br /> <br />UNITED STATES OF AMERICA <br />STATE OF FLORIDA <br />CITY OF SUNNY ISLES BEACH, FLORIDA <br />Bond Anticipation Note, Government Center Series <br /> <br />BAN Interest Rate <br /> <br />BAN Maturity Date <br />January 1,2003 <br /> <br />Dated Date <br /> <br />AS SET FORTH BELOW <br /> <br />Registered Noteho1der: SUNTRUST BANK, MIAMI, NATIONAL, ASSOCIATION <br /> <br />Maximwn Authorized Principal Amount: $5,000,000 <br /> <br />KNOW ALL MEN BY THESE PRESENTS, that the City of Sunny Isles Beach <br />(the "City") in Miami-Dade County, Florida, for value received, hereby promises to pay <br />from the sources herein mentioned, to the Registered Noteho1der specified above or <br />registered assigns on the BAN Maturity Date specified above or earlier upon mandatory <br />repayment of principal as provided below, upon the presentation and surrender hereof at the <br />City's Finance Department or (if so determined by the City) the designated trust office of the <br />bank or trust company appointed by the City to act as paying agent (said City's Finance <br />Department or such bank or trust company and any bank or trust company becoming <br />successor paying agent being herein called the "Paying Agent"), such Principal Amount as <br />shall have been advanced by the Registered Noteholder to the City of the $5,000,000 <br />maximwn principal amount of this Bond Anticipation Note with interest thereon at the <br />BAN Interest Rate specified below (unless interest on this Bond Anticipation Note is <br />converted to the Prime Rate (as defmed in the Ordinance) or the BAN Interest Rate <br />specified below is otherwise adjusted in the manner provided in the Ordinance calculated on <br />the basis of a 365/366-day year, as the case may be, on each Payment Date (as defined in the <br />Ordinance) in the manner specified in the Ordinance to the Registered Noteholder. The <br />Principal Amount and accrued interest thereon is payable in any coin or currency of the <br />United States of America, which, on the date of payment thereof, shall be legal tender for <br />the payment of public and private debts. <br /> <br />This Bond Anticipation Note is authorized to be issued in a maximwn authorized <br />principal amount of $5,000,000 under the authority of and in full compliance with the <br />Constitution and statutes of the State of Florida, including, particularly, Chapter 166, <br />Florida Statutes, as amended and supplemented, Section 25.431, Florida Statutes, as <br />amended and supplemented, the Charter of the City of Sunny Isles Beach, Florida, as <br />amended and supplemented, and other applicable provisions of law (the "Act"), and <br /> <br />A-I <br />