Industrial development revenue bonds issued by the Issuer may go through validation
proceedings at the discretion of the Issuer or the applicant. If validation is elected
by the applicant, or required by the Issuer, a certified copy of the final judgment
validating the bonds and a certificate of no appeal relating thereto or favorable
opinion of the Supreme Court of Florida shall be included in the closing documents.
Otherwise the General Counsel will be authorized and directed to refuse delivery of
the bonds. Whether or not the bonds are validated, the Issuer shall receive an unqualified
legal opinion from bond counsel as to validity of the bonds, and as to such other
matters as the General Counsel may require, all in form acceptable to the Office of
General Counsel.
