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<br />CERTIFICATE OF THE ISSUER <br /> <br />The City of Sunny Isles Beach, Florida (the "City") has made its Promissory Note dated June 8, 2009 <br />and payable to Bank of America, N.A. The interest rate on the Promissory Note (4.03%) does not <br />exceed the maximum rate permitted pursuant to Section 215.84, Florida Statutes, which is The Bond <br />Buyer "20 Bond Index" published immediately preceding May 1, 2009 plus 300 basis points <br />(7.57%). <br /> <br />Date June 8, 2009 <br /> <br />City of Sunny Isles Beach, Florida <br /> <br />