747-17 Master Resolution for Infrastructure Sales Surtax Revenue Bond (City Hall Project), Series 2017

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ARTICLE II AUTHORIZATION,TERMS,EXECUTION AND REGISTRATION OF BONDS SECTION 2.01 Authorization of Bonds. This Resolution creates an issue of Bonds of the Issuer to be designated as "City of Zephyrhills, Florida, Infrastructure Sales Surtax Revenue Bond" which may be issued in one or more Series as hereinafter provided. The aggregate principal amount of the Bonds which may be executed and delivered under this Resolution is not limited except as is or may hereafter be provided in this Resolution or as limited by the Act or by law. The Bonds may, if and when authorized by the Issuer pursuant to this Resolution, be issued in one or more Series, with such further appropriate particular designations added to or incorporated in such title for the Bonds of any particular Series as the Issuer may determine and as may be necessary to distinguish such Bonds from the Bonds of any other Series. Each Bond shall bear upon its face the designation so determined for the Series to which it belongs. The Bonds shall be issued for such purpose or purposes; shall bear interest at such rate or rates not exceeding the maximum rate permitted by law; and shall be payable in lawful money of the United States of America on such dates; all as determined by Supplemental Resolution of the Issuer. The Bonds shall be issued in denominations of $5,000 or integral multiples thereof (or such other amount as provided by Supplemental Resolution, provided further the Series 2017 Bond shall be issued in a minimum denomination of $100,000 and $1,000 integrals in excess thereof), in such form, whether coupon or registered; shall be dated such date; shall bear such numbers; shall be payable at such place or places; shall contain such redemption provisions; shall have such Paying Agents and Registrars; shall mature in such years (not exceeding the Maximum Permitted Maturity except in the case of the Series 2017 Bond as described in the Supplemental Resolution relating to the Series 2017 Bond) and amounts; shall provide that the proceeds thereof be used in such manner; may be Capital Appreciation Bonds, Serial Bonds, Term Bonds or Variable Rate Bonds (provided, however, that the issuance of Variable Rate Bonds which are Additional Bonds is subject to the provisions of Section 5.02D. hereof); all as determined by Supplemental Resolution of the Issuer. SECTION 2.02 Authorization and Description of Bonds. A Series of Bonds entitled to the benefit, protection and security of this Resolution is hereby authorized in a principal amount of$7,471,000 for the principal purposes of financing and/or reimbursing all or a portion of the Costs of the Initial Project and paying certain costs of issuance incurred with respect to such Series. Such Series shall be designated as, and shall be distinguished from the Bonds of all other Series by the title "City of Zephyrhills, Florida, Infrastructure Sales Surtax Revenue Bond (City Hall Project), Series 2017," provided the Issuer may change such designation in the event that the total authorized amount of Series 2017 Bond is not issued as a single series and/or are not issued in calendar year 2017. The Series 2017 Bond shall be dated as of the date of delivery of the Series 2017 Bond to the purchaser thereof or such other date as may be set forth by Supplemental Resolution of the Issuer; shall be issued as a single fully registered Series 2017 Bond; shall be numbered "R-1' shall be in such denominations and shall bear interest at a rate provided by the Supplemental Resolution, payable in such mariner and on such dates; shall consist of such amounts of a Term Bond; maturing in such amounts or Amortization Installments and in such years; shall be payable in such place or places; and shall contain such redemption provisions; all as the Issuer shall provide herein or hereafter by Supplemental Resolution. The principal of or Redemption Price, if applicable, on the Series 2017 Bond and interest payable on any Series 2017 Bond on any Interest Date will be paid by check or draft of the Paying Agent to the Holder in whose name such Series 2017 Bond shall be registered at the close of business on the date which shall be the fifteenth day (whether or not a business day) of the calendar month next preceding such Interest Date, or by bank wire transfer or other 7