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<br />shall be further secured by a pledge by the City of the Pledged Revenues (as defined in the Loan <br />Agreement). <br /> <br />Reference is hereby made to the Loan Agreement for the provisions, among others, <br />relating to the terms, lien and security of the Bond, the custody and application of the proceeds <br />of the Bond, the rights and remedies of the Holder of the Bond, and the extent of and limitations <br />on the City's rights, duties and obligations, to all of which provisions the Holder hereof for <br />himself and his successors in interest assents by acceptance of this Bond. <br /> <br />THIS BOND SHALL NOT BE DEEMED TO CONSTITUTE A GENERAL DEBT OR <br />A PLEDGE OF THE FAITH AND CREDIT OF THE CITY, OR A DEBT OR PLEDGE OF <br />THE FAITH AND CREDIT OF THE STATE OF FLORIDA OR ANY POLITICAL <br />SUBDIVISION THEREOF WITHIN THE MEANING OF ANY CONSTITUTIONAL, <br />LEGISLATIVE OR CHARTER PROVISION OR LIMITATION, AND IT IS EXPRESSLY <br />AGREED BY THE HOLDER OF THIS BOND THAT SUCH HOLDER SHALL NEVER <br />HAVE THE RIGHT, DIRECTLY OR INDIRECTLY, TO REQUIRE OR COMPEL THE <br />EXERCISE OF THE AD VALOREM TAXING POWER OF THE CITY OR ANY OTHER <br />POLITICAL SUBDIVISION OF THE STATE OF FLORIDA OR TAXATION IN ANY FORM <br />ON ANY REAL OR PERSONAL PROPERTY FOR THE PAYMENT OF THE PRINCIPAL <br />OF, PREMIUM, IF ANY, AND INTEREST ON THIS BOND OR FOR THE PAYMENT OF <br />ANY OTHER AMOUNTS PROVIDED FOR IN THE LOAN AGREEMENT. <br /> <br />It is further agreed between the City and the Holder of this Bond that neither the members <br />of the Governing Body of the City nor any person executing the Bond shall be liable personally <br />on the Bond by reason of its issuance. <br /> <br />This Bond may be exchanged or transferred by the Bank hereof but only upon the <br />registration books maintained by the City and in the manner provided in the Loan Agreement. <br /> <br />It is hereby certified, recited and declared that all acts, conditions and prerequisites <br />required to exist, happen and be performed precedent to and in the execution, delivery and the <br />issuance of this Bond do exist, have happened and have been performed in due time, form and <br />manner as required by law, and that the issuance of this Bond is in full compliance with and does <br />not exceed or violate any constitutional or statutory limitation. <br /> <br />IN WITNESS WHEREOF, the City of Sunny Isles Beach, Florida has caused this Bond <br />to be executed in its name by the manual signature of its Mayor, and attested by the manual <br />signature of its Clerk and its corporate seal or a facsimile thereof affixed hereto, all as of this <br />_ day of , 2011. <br /> <br />CITY OF SUNNY ISLES BEACH, FLORIDA <br /> <br />[SEAL] <br /> <br />By: <br /> <br />Mayor <br /> <br />A-6 <br /> <br />MIA 182,189,S1Sv611-2-11 <br />