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~nd June 3~, 1969 wS.ll be sufficient to authorize the issuance of the
Series C Bonds as paz•ity bonds under the ~erms, limitations and condi-
tions contained in Section 19 (b) of said Hi~her Education Amendment
and said Ori~inal Resolution.
9. The State Board has estimated that the amounts to be
derived from the gross receipts taxes in the calendar years 1968 a:~d
1969 is $ 15,700,000.0o and $ 17,100,000.00 , respectively, and
the amount of such Bonds to be issued in the years 1968 and 1969, re-
spectively, will not exceed four times the anticipated amounts to be
received from the gross receipts taxes in such years.
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10. The Series C Bonds shall be payable as to both principal
and interest solely from the gross receipts taxes, which are required
to be depos~t2d in the Institutions of Hi~her Learning and Jur,ior
Colleges Capital Outlay and Debt Service 2'rust Fund administered by
the State Bo2.;~a, u:~der the provisions of the Hi~her Educa~;ion Amendment,
in the manner provided in said 1968 Supp~eMental Resolution•. Ths
holders of su~:1 Series C~onds sh~ll ha~e the right to require or com-
pel the paymer.~ of the princi~al of and i~~°rest on such Series C Bonds
solely from the gross receipts taxes, p~~-:~:: to the provisions of the
Higher Edacati~n Amendment and su~h la :>unp~e:r:en~al Resolution . How-
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e ever, no holder of su~h Series C Bonus or tne coupons appertaining .
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~ thereto shall ever be entitled to raquire the payment of the principal
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~ of or inte^^est on'su~h Series C Bonds fr~m any other funds of the State
of Flori3a, the St~te Board, the B~ard of Regents or any political
subdivision or agency of the Sta~e.
~ 11. G'~apte~ s 67-~97 and 67-30?_, Lar~s of Florida, Acts of
~ 1963, are no~ inconsistent wi~h ti~e or~~•ision~ ~f Section 19, Ar~icle
~ XZI of the Constit~:~ion of Florida and ~.re =_n ~11 re~nects le~al and
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~ valid. ~ . _
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~ 12. Due anci prcper no~ice auc~res~ed tc the State of ~'lorida,
and the ~everal taxpayers, propert;~ owners and citi7ens thereof ar~d of
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~ Alachua, Ba:y, Bradford, Brevard, Broward, Citrus, Collier, Columbia,
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Dade, Duval, Escambia, Highlands, Hillsborough, Jackson, Lake, Lee, Leon,
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