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Bonds No. R-1 $605,000.00 UNITED STATES OF AMERICA STATE OF FLORIDA MONROE COUNTY, FLORIDA AIRPORT REVENUE BONDS (KEY WEST INTERNATIONAL AIRPORT), SERIES 2022 (A MT) Date of Interest Rate Maturity Date Original Issue CUSIP 5.000% 10/01/25 09/15/22 610466ABO Registered Holder: CEDE & CO. Principal Amount: SIX HUNDRED FIVE THOUSAND AND 00/100 DOLLARS MONROE COUNTY, FLORIDA, a political subdivision of the State of Florida (the "Issuer"), for value received, hereby promises to pay, solely from the Pledged Funds hereinafter described, to the Registered Holder identified above, or registered assigns as hereinafter provided, on the Maturity Date identified above, the Principal Amount identified above and to pay interest on such Principal Amount from the Date of Original Issue identified above or from the most recent interest payment date to which interest has been paid at the Interest Rate per annum identified above on April I and October I of each year commencing April 1, 2023 until such Principal Amount shall have been paid, except as the provisions hereinafter set forth with respect to redemption prior to maturity may be or become applicable hereto. Such Principal Amount and interest and the premium, if any, on this Bond are payable in any coin or currency of the United States of America which, on the respective dates of payment thereof, shall be legal tender for the payment of public and private debts. Such Principal Amount and the premium, if any, on this Bond, are payable at the designated corporate trust office of The Bank of New York Mellon Trust Company, N.A., Dallas, Texas, as Paying Agent. Payment of each installment of interest shall be made to the person in whose name this Bond shall be registered on the registration books of the Issuer maintained by The Bank of New York Mellon Trust Company, N.A., Dallas, Texas, as Registrar, 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 each interest payment date and shall be paid by a check of such Paying Agent mailed to such Registered Holder at the address appearing on such registration books or by bank wire transfer for the account of such Holder. Interest shall be calculated on the basis of a 360-day year of twelve 30-day months. This Bond is one of an authorized issue of Bonds in the aggregate principal amount of $41,340,000 (the "Bonds") of like date, tenor and effect, except as to maturity date, interest rate,registered holder, denomination and number, issued to finance and refinance various costs of certain capital improvements to the Key West International Airport, in and for the Issuer, No. R-2 $480,000.00 UNITED STATES OF AMERICA STATE OF FLORIDA MONROE COUNTY, FLORIDA AIRPORT REVENUE BONDS (KEY WEST INTERNATIONAL AIRPORT), SERIES 2022 (A MT) Date of Interest Rate Maturity Date Original Issue CUSIP 5.000% 10/01/26 09/15/22 610466AC8 Registered Holder: CEDE & CO. Principal Amount: FOUR HUNDRED EIGHTY THOUSAND AND 00/100 DOLLARS MONROE COUNTY, FLORIDA, a political subdivision of the State of Florida (the "Issuer"), for value received, hereby promises to pay, solely from the Pledged Funds hereinafter described, to the Registered Holder identified above, or registered assigns as hereinafter provided, on the Maturity Date identified above, the Principal Amount identified above and to pay interest on such Principal Amount from the Date of Original Issue identified above or from the most recent interest payment date to which interest has been paid at the Interest Rate per annum identified above on April I and October 1 of each year commencing April 1, 2023 until such Principal Amount shall have been paid, except as the provisions hereinafter set forth with respect to redemption prior to maturity may be or become applicable hereto. Such Principal Amount and interest and the premium, if any, on this Bond are payable in any coin or currency of the United States of America which, on the respective dates of payment thereof, shall be legal tender for the payment of public and private debts. Such Principal Amount and the premium, if any, on this Bond, are payable at the designated corporate trust office of The Bank of New York Mellon Trust Company, N.A., Dallas, Texas, as Paying Agent. Payment of each installment of interest shall be made to the person in whose name this Bond shall be registered on the registration books of the Issuer maintained by The Bank of New York Mellon Trust Company, N.A., Dallas, Texas, as Registrar, 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 each interest payment date and shall be paid by a check of such Paying Agent mailed to such Registered Holder at the address appearing on such registration books or by bank wire transfer for the account of such Holder. Interest shall be calculated on the basis of a 360-day year of twelve 30-day months. This Bond is one of an authorized issue of Bonds in the aggregate principal amount of $41,340,000 (the "Bonds") of like date, tenor and effect, except as to maturity date, interest rate,registered holder, denomination and number, issued to finance and refinance various costs of certain capital improvements to the Key West International Airport, in and for the Issuer, No. R-3 $505,000.00 UNITED STATES OF AMERICA STATE OF FLORIDA MONROE COUNTY, FLORIDA AIRPORT REVENUE BONDS (KEY WEST INTERNATIONAL AIRPORT), SERIES 2022 (A MT) Date of Interest Rate Maturity Date Original Issue CUSIP 5.000% 10/01/27 09/15/22 610466AD6 Registered Holder: CEDE & CO. Principal Amount: FIVE HUNDRED FIVE THOUSAND AND 00/100 DOLLARS MONROE COUNTY, FLORIDA, a political subdivision of the State of Florida (the "Issuer"), for value received, hereby promises to pay, solely from the Pledged Funds hereinafter described, to the Registered Holder identified above, or registered assigns as hereinafter provided, on the Maturity Date identified above, the Principal Amount identified above and to pay interest on such Principal Amount from the Date of Original Issue identified above or from the most recent interest payment date to which interest has been paid at the Interest Rate per annurn identified above on April 1 and October I of each year commencing April 1, 2023 until such Principal Amount shall have been paid, except as the provisions hereinafter set forth with respect to redemption prior to maturity may be or become applicable hereto. Such Principal Amount and interest and the premium, if any, on this Bond are payable in any coin or currency of the United States of America which, on the respective dates of payment thereof, shall be legal tender for the payment of public and private debts. Such Principal Amount and the premium, if any, on this Bond, are payable at the designated corporate trust office of The Bank of New York Mellon Trust Company, N.A., Dallas, Texas, as Paying Agent. Payment of each installment of interest shall be made to the person in whose name this Bond shall be registered on the registration books of the Issuer maintained by The Bank of New York Mellon Trust Company, N.A., Dallas, Texas, as Registrar, 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 each interest payment date and shall be paid by a check of such Paying Agent mailed to such Registered Holder at the address appearing on such registration books or by bank wire transfer for the account of such Holder. Interest shall be calculated on the basis of a 360-day year of twelve 30-day months. This Bond is one of an authorized issue of Bonds in the aggregate principal amount of $41,340,000 (the "Bonds") of like date, tenor and effect, except as to maturity date, interest rate,registered holder, denomination and number, issued to finance and refinance various costs of certain capital improvements to the Key West International Airport, in and for the Issuer, No. R-4 $530,000.00 UNITED STATES OF AMERICA STATE OF FLORIDA MONROE COUNTY, FLORIDA AIRPORT REVENUE BONDS (KEY WEST INTERNATIONAL AIRPORT), SERIES 2022 (A MT) Date of Interest Rate Maturity Date Original Issue CUSIP 5.000% 10/01/28 09/15/22 610466AE4 Registered Holder: CEDE & CO. Principal Amount: FIVE HUNDRED THIRTY THOUSAND AND 00/100 DOLLARS MONROE COUNTY, FLORIDA, a political subdivision of the State of Florida (the "Issuer"), for value received, hereby promises to pay, solely from the Pledged Funds hereinafter described, to the Registered Holder identified above, or registered assigns as hereinafter provided, on the Maturity Date identified above, the Principal Amount identified above and to pay interest on such Principal Amount from the Date of Original Issue identified above or from the most recent interest payment date to which interest has been paid at the Interest Rate per annum identified above on April 1 and October I of each year commencing April 1, 2023 until such Principal Amount shall have been paid, except as the provisions hereinafter set forth with respect to redemption prior to maturity may be or become applicable hereto. Such Principal Amount and interest and the premium, if any, on this Bond are payable in any coin or currency of the United States of America which, on the respective dates of payment thereof, shall be legal tender for the payment of public and private debts. Such Principal Amount and the premium, if any, on this Bond, are payable at the designated corporate trust office of The Bank of New York Mellon Trust Company, N.A., Dallas, Texas, as Paying Agent. Payment of each installment of interest shall be made to the person in whose name this Bond shall be registered on the registration books of the Issuer maintained by The Bank of New York Mellon Trust Company, N.A., Dallas, Texas, as Registrar, 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 each interest payment date and shall be paid by a check of such Paying Agent mailed to such Registered Holder at the address appearing on such registration books or by bank wire transfer for the account of such Holder. Interest shall be calculated on the basis of a 360-day year of twelve 30-day months. This Bond is one of an authorized issue of Bonds in the aggregate principal amount of $41,340,000 (the "Bonds") of like date, tenor and effect, except as to maturity date, interest rate,registered holder, denomination and number,issued to finance and refinance various costs of certain capital improvements to the Key West International Airport, in and for the Issuer, No. R-5 $875,000.00 UNITED STATES OF AMERICA STATE OF FLORIDA MONROE COUNTY, FLORIDA AIRPORT REVENUE BONDS (KEY WEST INTERNATIONAL AIRPORT), SERIES 2022 (A MT) Date of Interest Rate Maturily Date Original Issue CUSIP 5.000% 10/01/29 09/15/22 610466AF I Registered Holder: CEDE & CO. Principal Amount: EIGHT HUNDRED SEVENTY-FIVE THOUSAND AND 00/100 DOLLARS MONROE COUNTY, FLORIDA, a political subdivision of the State of Florida (the "Issuer"), for value received, hereby promises to pay, solely from the Pledged Funds hereinafter described, to the Registered Holder identified above, or registered assigns as hereinafter provided, on the Maturity Date identified above, the Principal Amount identified above and to pay interest on such Principal Amount from the Date of Original Issue identified above or from the most recent interest payment date to which interest has been paid at the Interest Rate per annum identified above on April I and October 1 of each year commencing April 1, 2023 until such Principal Amount shall have been paid, except as the provisions hereinafter set forth with respect to redemption prior to maturity may be or become applicable hereto. Such Principal Amount and interest and the premium, if any, on this Bond are payable in any coin or currency of the United States of America which, on the respective dates of payment thereof, shall be legal tender for the payment of public and private debts. Such Principal Amount and the premium, if any, on this Bond, are payable at the designated corporate trust office of The Bank of New York Mellon Trust Company, N.A., Dallas, Texas, as Paying Agent. Payment of each installment of interest shall be made to the person in whose name this Bond shall be registered on the registration books of the Issuer maintained by The Bank of New York Mellon Trust Company, N.A., Dallas, Texas, as Registrar, 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 each interest payment date and shall be paid by a check of such Paying Agent mailed to such Registered Holder at the address appearing on such registration books or by bank wire transfer for the account of such Holder. Interest shall be calculated on the basis of a 360-day year of twelve 30-day months. This Bond is one of an authorized issue of Bonds in the aggregate principal amount of $41,340,000 (the "Bonds") of like date, tenor and effect, except as to maturity date, interest rate,registered holder,denomination and number, issued to finance and refinance various costs of certain capital improvements to the Key West International Airport, in and for the Issuer, No. R-6 $920,000.00 UNITED STATES OF AMERICA STATE OF FLORIDA MONROE COUNTY, FLORIDA AIRPORT REVENUE BONDS (KEY WEST INTERNATIONAL AIRPORT), SERIES 2022 (AMT) Date of Interest Rate Maturity Date Original Issue CUSIP 5.000% 10/01/30 09/15/22 610466AG9 Registered Holder: CEDE & CO. Principal Amount: NINE HUNDRED TWENTY THOUSAND AND 00/100 DOLLARS MONROE COUNTY, FLORIDA, a political subdivision of the State of Florida (the "Issuer"), for value received, hereby promises to pay, solely from the Pledged Funds hereinafter described, to the Registered Holder identified above, or registered assigns as hereinafter provided, on the Maturity Date identified above, the Principal Amount identified above and to pay interest on such Principal Amount from the Date of Original Issue identified above or from the most recent interest payment date to which interest has been paid at the Interest Rate per annum identified above on April I and October I of each year commencing April 1, 2023 until such Principal Amount shall have been paid, except as the provisions hereinafter set forth with respect to redemption prior to maturity may be or become applicable hereto. Such Principal Amount and interest and the premium, if any, on this Bond are payable in any coin or currency of the United States of America which, on the respective dates of payment thereof, shall be legal tender for the payment of public and private debts. Such Principal Amount and the premium, if any, on this Bond, are payable at the designated corporate trust office of The Bank of New York Mellon Trust Company, N.A., Dallas, Texas, as Paying Agent. Payment of each installment of interest shall be made to the person in whose name this Bond shall be registered on the registration books of the Issuer maintained by The Bank of New York Mellon Trust Company, N.A., Dallas, Texas, as Registrar, 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 each interest payment date and shall be paid by a check of such Paying Agent mailed to such Registered Holder at the address appearing on such registration books or by bank wire transfer for the account of such Holder. Interest shall be calculated on the basis of a 360-day year of twelve 30-day months. This Bond is one of an authorized issue of Bonds in the aggregate principal amount of $41,340,000 (the "Bonds") of like date, tenor and effect, except as to maturity date, interest rate,registered holder,denomination and number, issued to finance and refinance various costs of certain capital improvements to the Key West International Airport, in and for the Issuer, No. R-7 $965,000.00 UNITED STATES OF AMERICA STATE OF FLORIDA MONROE COUNTY, FLORIDA AIRPORT REVENUE BONDS (KEY WEST INTERNATIONAL AIRPORT), SERIES 2022 (A MT) Date of Interest Rate Maturity Date Original Issue CUSIP 5.000% 10/01/31 09/15/22 610466AH7 Registered Holder: CEDE & CO. Principal Amount: NINE HUNDRED SIXTY-FIVE THOUSAND AND 00/100 DOLLARS MONROE COUNTY, FLORIDA, a political subdivision of the State of Florida(the "Issuer"), for value received, hereby promises to pay, solely from the Pledged Funds hereinafter described, to the Registered Holder identified above, or registered assigns as hereinafter provided, on the Maturity Date identified above, the Principal Amount identified above and to pay interest on such Principal Amount from the Date of Original Issue identified above or from the most recent interest payment date to which interest has been paid at the Interest Rate per annum identified above on April I and October I of each year commencing April 1, 2023 until such Principal Amount shall have been paid, except as the provisions hereinafter set forth with respect to redemption prior to maturity may be or become applicable hereto. Such Principal Amount and interest and the premium, if any, on this Bond are payable in any coin or currency of the United States of America which, on the respective dates of payment thereof, shall be legal tender for the payment of public and private debts. Such Principal Amount and the premium, if any, on this Bond, are payable at the designated corporate trust office of The Bank of New York Mellon Trust Company, N.A., Dallas, Texas, as Paying Agent. Payment of each installment of interest shall be made to the person in whose name this Bond shall be registered on the registration books of the Issuer maintained by The Bank of New York Mellon Trust Company, N.A., Dallas, Texas, as Registrar, 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 each interest payment date and shall be paid by a check of such Paying Agent mailed to such Registered Holder at the address appearing on such registration books or by bank wire transfer for the account of such Holder. Interest shall be calculated on the basis of a 360-day year of twelve 30-day months. This Bond is one of an authorized issue of Bonds in the aggregate principal amount of $41,340,000 (the "Bonds") of like date, tenor and effect, except as to maturity date, interest rate,registered holder,denomination and number, issued to finance and refinance various costs of certain capital improvements to the Key West International Airport, in and for the Issuer, No. R-8 $1,015,000.00 UNITED STATES OF AMERICA STATE OF FLORIDA MONROE COUNTY, FLORIDA AIRPORT REVENUE BONDS (KEY WEST INTERNATIONAL AIRPORT), SERIES 2022 (A MT) Date of Interest Rate Maturity Date Original Issue CUSIP 5.000% 10/01/32 09/15/22 610466AJ3 Registered Holder: CEDE & CO. Principal Amount: ONE MILLION FIFTEEN THOUSAND AND 00/100 DOLLARS MONROE COUNTY, FLORIDA, a political subdivision of the State of Florida(the "Issuer"), for value received, hereby promises to pay, solely from the Pledged Funds hereinafter described, to the Registered Holder identified above, or registered assigns as hereinafter provided, on the Maturity Date identified above, the Principal Amount identified above and to pay interest on such Principal Amount from the Date of Original Issue identified above or from the most recent interest payment date to which interest has been paid at the Interest Rate per annuin identified above on April 1 and October I of each year commencing April 1, 2023 until such Principal Amount shall have been paid, except as the provisions hereinafter set forth with respect to redemption prior to maturity may be or become applicable hereto. Such Principal Amount and interest and the premium, if any, on this Bond are payable in any coin or currency of the United States of America which, on the respective dates of payment thereof, shall be legal tender for the payment of public and private debts. Such Principal Amount and the premium, if any, on this Bond, are payable at the designated corporate trust office of The Bank of New York Mellon Trust Company, N.A., Dallas, Texas, as Paying Agent. Payment of each installment of interest shall be made to the person in whose name this Bond shall be registered on the registration books of the Issuer maintained by The Bank of New York Mellon Trust Company, N.A., Dallas, Texas, as Registrar, 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 each interest payment date and shall be paid by a check of such Paying Agent mailed to such Registered Holder at the address appearing on such registration books or by bank wire transfer for the account of such Holder. Interest shall be calculated on the basis of a 360-day year of twelve 30-day months. This Bond is one of an authorized issue of Bonds in the aggregate principal amount of $41,340,000 (the "Bonds") of like date, tenor and effect, except as to maturity date, interest rate,registered holder, denomination and number, issued to finance and refinance various costs of certain capital improvements to the Key West International Airport, in and for the Issuer, No. R-9 $1,065,000.00 UNITED STATES OF AMERICA STATE OF FLORIDA MONROE COUNTY, FLORIDA AIRPORT REVENUE BONDS (KEY WEST INTERNATIONAL AIRPORT), SERIES 2022 (A MT) Date of Interest Rate Maturity Date Original Issue CUSIP 5.000% 10/01/33 09/15/22 610466AK0 Registered Holder: CEDE & CO. Principal Amount: ONE MILLION SIXTY-FIVE THOUSAND AND 00/100 DOLLARS MONROE COUNTY, FLORIDA, a political subdivision of the State of Florida (the "Issuer"), for value received, hereby promises to pay, solely from the Pledged Funds hereinafter described, to the Registered Holder identified above, or registered assigns as hereinafter provided, on the Maturity Date identified above, the Principal Amount identified above and to pay interest on such Principal Amount from the Date of Original Issue identified above or from the most recent interest payment date to which interest has been paid at the Interest Rate per annum identified above on April 1 and October I of each year commencing April 1, 2023 until such Principal Amount shall have been paid, except as the provisions hereinafter set forth with respect to redemption prior to maturity may be or become applicable hereto. Such Principal Amount and interest and the premium, if any, on this Bond are payable in any coin or currency of the United States of America which, on the respective dates of payment thereof, shall be legal tender for the payment of public and private debts. Such Principal Amount and the premium, if any, on this Bond, are payable at the designated corporate trust office of The Bank of New York Mellon Trust Company, N.A., Dallas, Texas, as Paying Agent. Payment of each installment of interest shall be made to the person in whose name this Bond shall be registered on the registration books of the Issuer maintained by The Bank of New York Mellon Trust Company, N.A., Dallas, Texas, as Registrar, 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 each interest payment date and shall be paid by a check of such Paying Agent mailed to such Registered Holder at the address appearing on such registration books or by bank wire transfer for the account of such Holder. Interest shall be calculated on the basis of a 360-day year of twelve 30-day months. This Bond is one of an authorized issue of Bonds in the aggregate principal amount of $41,340,000 (the "Bonds") of like date, tenor and effect, except as to maturity date, interest rate,registered holder,denomination and number, issued to finance and refinance various costs of certain capital improvements to the Key West International Airport, in and for the Issuer, No. R-10 $1,120,000.00 UNITED STATES OF AMERICA STATE OF FLORIDA MONROE COUNTY, FLORIDA AIRPORT REVENUE BONDS (KEY WEST INTERNATIONAL AIRPORT), SERIES 2022 (AT) Date of Interest Rate Maturity Date Original Issue CUSIP 5.000% 10/01/34 09/15/22 610466AL8 Registered Holder: CEDE & CO. Principal Amount: ONE MILLION ONE HUNDRED TWENTY THOUSAND AND 00/100 DOLLARS MONROE COUNTY, FLORIDA, a political subdivision of the State of Florida (the "Issuer"), for value received, hereby promises to pay, solely from the Pledged Funds hereinafter described, to the Registered Holder identified above, or registered assigns as hereinafter provided, on the Maturity Date identified above, the Principal Amount identified above and to pay interest on such Principal Amount from the Date of Original Issue identified above or from the most recent interest payment date to which interest has been paid at the Interest Rate per annum identified above on April I and October I of each year commencing April 1, 2023 until such Principal Amount shall have been paid, except as the provisions hereinafter set forth with respect to redemption prior to maturity may be or become applicable hereto. Such Principal Amount and interest and the premium, if any, on this Bond are payable in any coin or currency of the United States of America which, on the respective dates of payment thereof, shall be legal tender for the payment of public and private debts. Such Principal Amount and the premium, if any, on this Bond, are payable at the designated corporate trust office of The Bank of New York Mellon Trust Company,N.A., Dallas, Texas, as Paying Agent. Payment of each installment of interest shall be made to the person in whose name this Bond shall be registered on the registration books of the Issuer maintained by The Bank of New York Mellon Trust Company, N.A., Dallas, Texas, as Registrar, 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 each interest payment date and shall be paid by a check of such Paying Agent mailed to such Registered Holder at the address appearing on such registration books or by bank wire transfer for the account of such Holder. Interest shall be calculated on the basis of a 360-day year of twelve 30-day months. This Bond is one of an authorized issue of Bonds in the aggregate principal amount of $41,340,000 (the "Bonds") of like date, tenor and effect, except as to maturity date, interest rate,registered holder, denomination and number, issued to finance and refinance various costs of certain capital improvements to the Key West International Airport, in and for the Issuer, No. R-1 1 $1,175,000.00 UNITED STATES OF AMERICA STATE OF FLORIDA MONROE COUNTY, FLORIDA AIRPORT REVENUE BONDS (KEY WEST INTERNATIONAL AIRPORT), SERIES 2022 (AMT) Date of Interest Rate Maturijy Date Original Issue CUSIP 5.000% 10/01/35 09/15/22 610466AM6 Registered Holder: CEDE & CO. Principal Amount: ONE MILLION ONE HUNDRED SEVENTY-FIVE THOUSAND AND 00/100 DOLLARS MONROE COUNTY, FLORIDA, a political subdivision of the State of Florida (the "Issuer"), for value received, hereby promises to pay, solely from the Pledged Funds hereinafter described, to the Registered Holder identified above, or registered assigns as hereinafter provided, on the Maturity Date identified above, the Principal Amount identified above and to pay interest on such Principal Amount from the Date of Original Issue identified above or from the most recent interest payment date to which interest has been paid at the Interest Rate per annum identified above on April I and October I of each year commencing April 1, 2023 until such Principal Amount shall have been paid, except as the provisions hereinafter set forth with respect to redemption prior to maturity may be or become applicable hereto. Such Principal Amount and interest and the premium, if any, on this Bond are payable in any coin or currency of the United States of America which, on the respective dates of payment thereof, shall be legal tender for the payment of public and private debts. Such Principal Amount and the premium, if any, on this Bond, are payable at the designated corporate trust office of The Bank of New York Mellon Trust Company, N.A., Dallas, Texas, as Paying Agent. Payment of each installment of interest shall be made to the person in whose name this Bond shall be registered on the registration books of the Issuer maintained by The Bank of New York Mellon Trust Company, N.A., Dallas, Texas, as Registrar, 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 each interest payment date and shall be paid by a check of such Paying Agent mailed to such Registered Holder at the address appearing on such registration books or by bank wire transfer for the account of such Holder. Interest shall be calculated on the basis of a 360-day year of twelve 30-day months. This Bond is one of an authorized issue of Bonds in the aggregate principal amount of $41,340,000 (the "Bonds") of like date, tenor and effect, except as to maturity date, interest rate,registered holder, denomination and number, issued to finance and refinance various costs of certain capital improvements to the Key West International Airport, in and for the Issuer, No. R-12 $1,235,000.00 UNITED STATES OF AMERICA STATE OF FLORIDA MONROE COUNTY, FLORIDA AIRPORT REVENUE BONDS (KEY WEST INTERNATIONAL AIRPORT), SERIES 2022 (A MT) Date of Interest Rate Maturijy Date Original Issue CUSIP 5.000% 10/01/36 09/15/22 610466AN4 Registered Holder: CEDE & CO. Principal Amount: ONE MILLION TWO HUNDRED THIRTY-FIVE THOUSAND AND 00/100 DOLLARS MONROE COUNTY, FLORIDA, a political subdivision of the State of Florida (the "Issuer"), for value received, hereby promises to pay, solely from the Pledged Funds hereinafter described, to the Registered Holder identified above, or registered assigns as hereinafter provided, on the Maturity Date identified above, the Principal Amount identified above and to pay interest on such Principal Amount from the Date of Original Issue identified above or from the most recent interest payment date to which interest has been paid at the Interest Rate per annum identified above on April 1 and October I of each year commencing April 1, 2023 until such Principal Amount shall have been paid, except as the provisions hereinafter set forth with respect to redemption prior to maturity may be or become applicable hereto. Such Principal Amount and interest and the premium, if any, on this Bond are payable in any coin or currency of the United States of America which, on the respective dates of payment thereof, shall be legal tender for the payment of public and private debts. Such Principal Amount and the premium, if any, on this Bond, are payable at the designated corporate trust office of The Bank of New York Mellon Trust Company, N.A., Dallas, Texas, as Paying Agent. Payment of each installment of interest shall be made to the person in whose name this Bond shall be registered on the registration books of the Issuer maintained by The Bank of New York Mellon Trust Company, N.A., Dallas, Texas, as Registrar, 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 each interest payment date and shall be paid by a check of such Paying Agent mailed to such Registered Holder at the address appearing on such registration books or by bank wire transfer for the account of such Holder. Interest shall be calculated on the basis of a 360-day year of twelve 30-day months. This Bond is one of an authorized issue of Bonds in the aggregate principal amount of $41,340,000 (the "Bonds") of like date, tenor and effect, except as to maturity date, interest rate,registered holder, denomination and number, issued to finance and refinance various costs of certain capital improvements to the Key West International Airport, in and for the Issuer, No. R-13 $1,295,000.00 UNITED STATES OF AMERICA STATE OF FLORIDA MONROE COUNTY, FLORIDA AIRPORT REVENUE BONDS (KEY WEST INTERNATIONAL AIRPORT), SERIES 2022 (A MT) Date of Interest Rate Maturity Date Original Issue CUSIP 5.000% 10/01/37 09/15/22 610466AP9 Registered Holder: CEDE & CO. Principal Amount: ONE MILLION TWO HUNDRED NINETY-FIVE THOUSAND AND 00/100 DOLLARS MONROE COUNTY, FLORIDA, a political subdivision of the State of Florida (the "Issuer"), for value received, hereby promises to pay, solely from the Pledged Funds hereinafter described, to the Registered Holder identified above, or registered assigns as hereinafter provided, on the Maturity Date identified above, the Principal Amount identified above and to pay interest on such Principal Amount from the Date of Original Issue identified above or from the most recent interest payment date to which interest has been paid at the Interest Rate per annum identified above on April I and October 1 of each year commencing April 1, 2023 until such Principal Amount shall have been paid, except as the provisions hereinafter set forth with respect to redemption prior to maturity may be or become applicable hereto. Such Principal Amount and interest and the premium, if any, on this Bond are payable in any coin or currency of the United States of America which, on the respective dates of payment thereof, shall be legal tender for the payment of public and private debts. Such Principal Amount and the premium, if any, on this Bond, are payable at the designated corporate trust office of The Bank of New York Mellon Trust Company, N.A., Dallas, Texas, as Paying Agent. Payment of each installment of interest shall be made to the person in whose name this Bond shall be registered on the registration books of the Issuer maintained by The Bank of New York Mellon Trust Company, N.A., Dallas, Texas, as Registrar, 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 each interest payment date and shall be paid by a check of such Paying Agent mailed to such Registered Holder at the address appearing on such registration books or by bank wire transfer for the account of such Holder. Interest shall be calculated on the basis of a 360-day year of twelve 30-day months. This Bond is one of an authorized issue of Bonds in the aggregate principal amount of $41,340,000 (the "Bonds") of like date, tenor and effect, except as to maturity date, interest rate,registered holder, denomination and number, issued to finance and refinance various costs of certain capital improvements to the Key West International Airport, in and for the Issuer, No. R-14 $1,360,000.00 UNITED STATES OF AMERICA STATE OF FLORIDA MONROE COUNTY, FLORIDA AIRPORT REVENUE BONDS (KEY WEST INTERNATIONAL AIRPORT), SERIES 2022 (A MT) Date of Interest Rate Maturily Date Original Issue CUSIP 5.000% 10/01/38 09/15/22 610466AQ7 Registered Holder: CEDE & CO. Principal Amount: ONE MILLION THREE HUNDRED SIXTY THOUSAND AND 00/100 DOLLARS MONROE COUNTY, FLORIDA, a political subdivision of the State of Florida (the "Issuer"), for value received, hereby promises to pay, solely from the Pledged Funds hereinafter described, to the Registered Holder identified above, or registered assigns as hereinafter provided, on the Maturity Date identified above, the Principal Amount identified above and to pay interest on such Principal Amount from the Date of Original Issue identified above or from the most recent interest payment date to which interest has been paid at the Interest Rate per annum identified above on April I and October I of each year commencing April 1, 2023 until such Principal Amount shall have been paid, except as the provisions hereinafter set forth with respect to redemption prior to maturity may be or become applicable hereto. Such Principal Amount and interest and the premium, if any, on this Bond are payable in any coin or currency of the United States of America which, on the respective dates of payment thereof, shall be legal tender for the payment of public and private debts. Such Principal Amount and the premium, if any, on this Bond, are payable at the designated corporate trust office of The Bank of New York Mellon Trust Company, N.A., Dallas, Texas, as Paying Agent. Payment of each installment of interest shall be made to the person in whose name this Bond shall be registered on the registration books of the Issuer maintained by The Bank of New York Mellon Trust Company, N.A., Dallas, Texas, as Registrar, 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 each interest payment date and shall be paid by a check of such Paying Agent mailed to such Registered Holder at the address appearing on such registration books or by bank wire transfer for the account of such Holder. Interest shall be calculated on the basis of a 360-day year of twelve 30-day months. This Bond is one of an authorized issue of Bonds in the aggregate principal amount of $41,340,000 (the "Bonds") of like date, tenor and effect, except as to maturity date, interest rate,registered holder, denomination and number, issued to finance and refinance various costs of certain capital improvements to the Key West International Airport, in and for the Issuer, No. R-15 $1,430,000.00 UNITED STATES OF AMERICA STATE OF FLORIDA MONROE COUNTY, FLORIDA AIRPORT REVENUE ON (KEY WEST INTERNATIONAL AIRPORT), SERIES 2022 (A MT) Date of Interest Rate Maturity Date Original Issue CUSIP 5.000% 10/01/39 09/15/22 610466AR5 Registered Holder: CEDE & CO. Principal Amount: ONE MILLION FOUR HUNDRED THIRTY THOUSAND AND 00/100 DOLLARS MONROE COUNTY, FLORIDA, a political subdivision of the State of Florida(the "Issuer"), for value received, hereby promises to pay, solely from the Pledged Funds hereinafter described, to the Registered Holder identified above, or registered assigns as hereinafter provided, on the Maturity Date identified above, the Principal Amount identified above and to pay interest on such Principal Amount from the Date of Original Issue identified above or from the most recent interest payment date to which interest has been paid at the Interest Rate per annum, identified above on April I and October I of each year commencing April 1, 2023 until such Principal Amount shall have been paid, except as the provisions hereinafter set forth with respect to redemption prior to maturity may be or become applicable hereto. Such Principal Amount and interest and the premium, if any, on this Bond are payable in any coin or currency of the United States of America which, on the respective dates of payment thereof, shall be legal tender for the payment of public and private debts. Such Principal Amount and the premium, if any, on this Bond, are payable at the designated corporate trust office of The Bank of New York Mellon Trust Company, N.A., Dallas, Texas, as Paying Agent. Payment of each installment of interest shall be made to the person in whose name this Bond shall be registered on the registration books of the Issuer maintained by The Bank of New York Mellon Trust Company, N.A., Dallas, Texas, as Registrar, 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 each interest payment date and shall be paid by a check of such Paying Agent mailed to such Registered Holder at the address appearing on such registration books or by bank wire transfer for the account of such Holder. Interest shall be calculated on the basis of a 360-day year of twelve 30-day months. This Bond is one of an authorized issue of Bonds in the aggregate principal amount of $41,340,000 (the "Bonds") of like date, tenor and effect, except as to maturity date, interest rate,registered holder, denomination and number, issued to finance and refinance various costs of certain capital improvements to the Key West International Airport, in and for the Issuer, No. R-16 $1,500,000.00 UNITED STATES OF AMERICA STATE OF FLORIDA MONROE COUNTY, FLORIDA AIRPORT REVENUE BONDS (KEY WEST INTERNATIONAL AIRPORT), SERIES 2022 (A MT) Date of Interest Rate Maturity Date Original Issue CUSIP 5.000% 10/01/40 09/15/22 610466AS3 Registered Holder: CEDE & CO. Principal Amount: ONE MILLION FIVE HUNDRED THOUSAND AND 00/100 DOLLARS MONROE COUNTY, FLORIDA, a political subdivision of the State of Florida (the "Issuer"), for value received, hereby promises to pay, solely from the Pledged Funds hereinafter described, to the Registered Holder identified above, or registered assigns as hereinafter provided, on the Maturity Date identified above, the Principal Amount identified above and to pay interest on such Principal Amount from the Date of Original Issue identified above or from the most recent interest payment date to which interest has been paid at the Interest Rate per annum, identified above on April 1 and October I of each year commencing April 1, 2023 until such Principal Amount shall have been paid, except as the provisions hereinafter set forth with respect to redemption prior to maturity may be or become applicable hereto. Such Principal Amount and interest and the premium, if any, on this Bond are payable in any coin or currency of the United States of America which, on the respective dates of payment thereof, shall be legal tender for the payment of public and private debts. Such Principal Amount and the premium, if any, on this Bond, are payable at the designated corporate trust office of The Bank of New York Mellon Trust Company, N.A., Dallas, Texas, as Paying Agent. Payment of each installment of interest shall be made to the person in whose name this Bond shall be registered on the registration books of the Issuer maintained by The Bank of New York Mellon Trust Company, N.A., Dallas, Texas, as Registrar, 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 each interest payment date and shall be paid by a check of such Paying Agent mailed to such Registered Holder at the address appearing on such registration books or by bank wire transfer for the account of such Holder. Interest shall be calculated on the basis of a 360-day year of twelve 30-day months. This Bond is one of an authorized issue of Bonds in the aggregate principal amount of $41,340,000 (the "Bonds") of like date, tenor and effect, except as to maturity date, interest rate,registered holder, denomination and number, issued to finance and refinance various costs of certain capital improvements to the Key West International Airport, in and for the Issuer, No. R-17 $1,575,000.00 UNITED STATES OF AMERICA STATE OF FLORIDA MONROE COUNTY, FLORIDA AIRPORT REVENUE BONDS (KEY WEST INTERNATIONAL AIRPORT), SERIES 2022 (A MT) Date of Interest Rate Maturity Date Original Issue CUSIP 5.000% 10/01/41 09/15/22 610466AT1 Registered Holder: CEDE & CO. Principal Amount: ONE MILLION FIVE HUNDRED SEVENTY-FIVE THOUSAND AND 00/100 DOLLARS MONROE COUNTY, FLORIDA, a political subdivision of the State of Florida (the "Issuer"), for value received, hereby promises to pay, solely from the Pledged Funds hereinafter described, to the Registered Holder identified above, or registered assigns as hereinafter provided, on the Maturity Date identified above, the Principal Amount identified above and to pay interest on such Principal Amount from the Date of Original Issue identified above or from the most recent interest payment date to which interest has been paid at the Interest Rate per annum identified above on April I and October 1 of each year commencing April 1, 2023 until such Principal Amount shall have been paid, except as the provisions hereinafter set forth with respect to redemption prior to maturity may be or become applicable hereto. Such Principal Amount and interest and the premium, if any, on this Bond are payable in any coin or currency of the United States of America which, on the respective dates of payment thereof, shall be legal tender for the payment of public and private debts. Such Principal Amount. and the premium, if any, on this Bond, are payable at the designated corporate trust office of The Bank of New York Mellon Trust Company,N.A., Dallas, Texas, as Paying Agent. Payment of each installment of interest shall be made to the person in whose name this Bond shall be registered on the registration books of the Issuer maintained by The Bank of New York Mellon Trust Company, N.A., Dallas, Texas, as Registrar, 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 each interest payment date and shall be paid by a check of such Paying Agent mailed to such Registered Holder at the address appearing on such registration books or by bank wire transfer for the account of such Holder. Interest shall be calculated on the basis of a 360-day year of twelve 30-day months. This Bond is one of an authorized issue of Bonds in the aggregate principal amount of $41,340,000 (the "Bonds") of like date, tenor and effect, except as to maturity date, interest rate,registered holder, denomination and number, issued to finance and refinance various costs of certain capital improvements to the Key West International Airport, in and for the Issuer, No. R-18 $1,655,000.00 UNITED STATES OF AMERICA STATE OF FLORIDA MONROE COUNTY, FLORIDA AIRPORT REVENUE BONDS (KEY WEST INTERNATIONAL AIRPORT), SERIES 2022 (A MT) Date of Interest Rate Maturity Date Original Issue CUSIP 5.000% 10/01/42 09/15/22 610466AU8 Registered Holder: CEDE & CO. Principal Amount: ONE MILLION SIX HUNDRED FIFTY-FIVE THOUSAND AND 00/100 DOLLARS MONROE COUNTY, FLORIDA, a political subdivision of the State of Florida (the "Issuer"), for value received, hereby promises to pay, solely from the Pledged Funds hereinafter described, to the Registered Holder identified above, or registered assigns as hereinafter provided, on the Maturity Date identified above, the Principal Amount identified above and to pay interest on such Principal Amount from the Date of Original Issue identified above or from the most recent interest payment date to which interest has been paid at the Interest Rate per annum identified above on April 1 and October I of each year commencing April 1, 2023 until such Principal Amount shall have been paid, except as the provisions hereinafter set forth with respect to redemption prior to maturity may be or become applicable hereto. Such Principal Amount and interest and the premium, if any, on this Bond are payable in any coin or currency of the United States of America which, on the respective dates of payment thereof, shall be legal tender for the payment of public and private debts. Such Principal Amount and the premium, if any, on this Bond, are payable at the designated corporate trust office of The Bank of New York Mellon Trust Company, N.A., Dallas, Texas, as Paying Agent. Payment of each installment of interest shall be made to the person in whose name this Bond shall be registered on the registration books of the Issuer maintained by The Bank of New York Mellon Trust Company, N.A., Dallas, Texas, as Registrar, 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 each interest payment date and shall be paid by a check of such Paying Agent mailed to such Registered Holder at the address appearing on such registration books or by bank wire transfer for the account of such Holder. Interest shall be calculated on the basis of a 360-day year of twelve 30-day months. This Bond is one of an authorized issue of Bonds in the aggregate principal amount of $41,340,000 (the "Bonds") of like date, tenor and effect, except as to maturity date, interest rate,registered holder,denomination and number, issued to finance and refinance various costs of certain capital improvements to the Key West International Airport, in and for the Issuer, No. R-19 $9,640,000.00 UNITED STATES OF AMERICA STATE OF FLORIDA MONROE COUNTY, FLORIDA AIRPORT REVENUE BONDS (KEY WEST INTERNATIONAL AIRPORT), SERIES 2022 (AMT) Date of Interest Rate Maturity Date Original Issue CUSIP 5.250% 10/01/47 09/15/22 610466AV6 Registered Holder: CEDE & CO. Principal Amount: NINE MILLION SIX HUNDRED FORTY THOUSAND AND 00/100 DOLLARS MONROE COUNTY, FLORIDA, a political subdivision of the State of Florida (the "Issuer"), for value received, hereby promises to pay, solely from the Pledged Funds hereinafter described, to the Registered Holder identified above, or registered assigns as hereinafter provided, on the Maturity Date identified above, the Principal Amount identified above and to pay interest on such Principal Amount from the Date of Original Issue identified above or from the most recent interest payment date to which interest has been paid at the Interest Rate per annum identified above on April I and October I of each year commencing April 1, 2023 until such Principal Amount shall have been paid, except as the provisions hereinafter set forth with respect to redemption prior to maturity may be or become applicable hereto. Such Principal Amount and interest and the premium, if any, on this Bond are payable in any coin or currency of the United States of America which, on the respective dates of payment thereof, shall be legal tender for the payment of public and private debts. Such Principal Amount and the premium, if any, on this Bond, are payable at the designated corporate trust office of The Bank of New York Mellon Trust Company, N.A., Dallas, Texas, as Paying Agent. Payment of each installment of interest shall be made to the person in whose name this Bond shall be registered on the registration books of the Issuer maintained by The Bank of New York Mellon Trust Company, N.A., Dallas, Texas, as Registrar, 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 each interest payment date and shall be paid by a check of such Paying Agent mailed to such Registered Holder at the address appearing on such registration books or by bank wire transfer for the account of such Holder. Interest shall be calculated on the basis of a 360-day year of twelve 30-day months. This Bond is one of an authorized issue of Bonds in the aggregate principal amount of $41,340,000 (the "Bonds") of like date, tenor and effect, except as to maturity date, interest rate,registered holder, denomination and number, issued to finance and refinance various costs of certain capital improvements to the Key West International Airport, in and for the Issuer, No. R-20 $12,395,000.00 UNITED STATES OF AMERICA STATE OF FLORIDA MONROE COUNTY, FLORIDA AIRPORT REVENUE BONDS (KEY WEST INTERNATIONAL AIRPORT), SERIES 2022 (A MT) Date of Interest Rate Maturijy Date Original Issue CUSIP 5.000% 10/01/52 09/15/22 610466AW4 Registered Holder: CEDE & CO. Principal Amount: TWELVE MILLION THREE HUNDRED NINETY-FIVE THOUSAND AND 00/100 DOLLARS MONROE COUNTY, FLORIDA, a political subdivision of the State of Florida (the "Issuer"), for value received, hereby promises to pay, solely from the Pledged Funds hereinafter described, to the Registered Holder identified above, or registered assigns as hereinafter provided, on the Maturity Date identified above, the Principal Amount identified above and to pay interest on such Principal Amount from the Date of Original Issue identified above or from the most recent interest payment date to which interest has been paid at the Interest Rate per annum identified above on April 1 and October I of each year commencing April 1, 2023 until such Principal Amount shall have been paid, except as the provisions hereinafter set forth with respect to redemption prior to maturity may be or become applicable hereto. Such Principal Amount and interest and the premium, if any, on this Bond are payable in any coin or currency of the United States of America which, on the respective dates of payment thereof, shall be legal tender for the payment of public and private debts. Such Principal Amount and the premium, if any, on this Bond, are payable at the designated corporate trust office of The Bank of New York Mellon Trust Company, N.A., Dallas, Texas, as Paying Agent. Payment of each installment of interest shall be made to the person in whose name this Bond shall be registered on the registration books of the Issuer maintained by The Bank of New York Mellon Trust Company, N.A., Dallas, Texas, as Registrar, 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 each interest payment date and shall be paid by a check of such Paying Agent mailed to such Registered Holder at the address appearing on such registration books or by bank wire transfer for the account of such Holder. Interest shall be calculated on the basis of a 360-day year of twelve 30-day months. This Bond is one of an authorized issue of Bonds in the aggregate principal amount of $41,340,000 (the "Bonds") of like date, tenor and effect, except as to maturity date, interest rate,registered holder, denomination and number, issued to finance and refinance various costs of certain capital improvements to the Key West International Airport, in and for the Issuer, under the authority of and in full compliance with the Constitution and laws of the State of Florida, particularly Chapter 125, Part 1, and Chapter 332, Florida Statutes, and other applicable provisions of law (collectively, the "Act"), and Resolution No. 206A-2022 duly adopted by the Board of County Commissioners (the "Board") of the Issuer on August 17, 2022, as supplemented by Resolution No. 20613-2022 duly adopted by the Board on August 17, 2022 (collectively, the "Resolution"), and is subject to all the terms and conditions of the Resolution. All capital terms used in this Bond not otherwise defined herein shall have the meanings ascribed thereto in the Resolution. This Bond and the interest hereon are payable solely from and secured by a lien upon and a pledge of (1) the Net Revenues to be derived from the operation of the Airport, (2) Eligible PFC Revenues, and (3) until applied in accordance with the provisions of the Resolution, all moneys, including investments thereof, in the funds and accounts established under the Resolution, except (A) moneys in the PFC Account, the PFC Capital Improvement Fund(to the extent not legally available to pay debt service on the Bonds)and the Rebate Fund, (B) moneys in any fund or account to the extent such moneys shall be required to pay the Operation and Maintenance Costs in accordance with the terms of the Resolution, and (C) moneys on deposit in a subaccount of the Reserve Account established by the Resolution to the extent such moneys shall be pledged solely for the payment of the Series of Bonds for which it was established in accordance with the provisions of the Resolution (collectively, the "Pledged Funds"), subject in each case to the application thereof for the purposes and on the conditions permitted by the Resolution. It is expressly agreed by the Registered Holder of this Bond that the full faith and credit of the Issuer are not pledged to the payment of the principal of, premium, if any, and interest on this Bond and that such Holder shall never have the right to require or compel the exercise of the taxing power of the Issuer to the payment of such principal, premium, if any, and interest. This Bond and the obligation evidenced hereby shall not constitute a lien upon the Airport or any other property of the Issuer, but shall constitute a lien only on, and shall be payable solely from,the Pledged Funds in accordance with the terms of the Resolution. Obligations may be issued by the Issuer from time to time on parity with the Bonds pursuant to the terms of the Resolution. This Bond is transferable in accordance with the terms of the Resolution only upon the books of the Issuer kept for that purpose at the designated corporate trust office of the Registrar by the Registered Holder hereof in person or by his attorney duly authorized in writing, upon the surrender of this Bond, together with a written instrument of transfer satisfactory to the Registrar duly executed by the Registered Holder or his attorney duly authorized in writing, and thereupon a new Bond or Bonds in the same aggregate principal amount shall be issued to the transferee in exchange therefor, and upon the payment of the charges, if any, therein prescribed. The Bonds are issuable in the form of fully registered Bonds in the denomination of$5,000 and any integral multiple thereof, not exceeding the aggregate principal amount of the Bonds. The Issuer, the Registrar and any Paying Agent may treat the Registered Holder of this Bond as the absolute owner hereof for all purposes, whether or not this Bond shall be overdue, and shall not be affected by any notice to the contrary. The Issuer shall not be obligated to make any exchange or transfer of the Bonds during the 15 days next preceding an interest payment date or, in the case of any proposed redemption of the Bonds, then, for the Page 2 Bonds subject to such redemption, during the 15 days next preceding the date of the first mailing of notice of such redemption and continuing to the redemption date. The Issuer has established a book-entry system of registration for the Bonds. Except as specifically provided otherwise in the Resolution, an agent will hold this Bond on behalf of the beneficial owner hereof. By acceptance of a confirmation of purchase, delivery or transfer, the beneficial owner of this Bond shall be deemed to have agreed to such arrangement. The Bonds maturing on or prior to October 1, 2032 are not subject to optional redemption prior to their respective maturities. The Bonds maturing on and after October 1, 2033 may be redeemed prior to their respective maturities, at the option of the Issuer, either in whole or in part, from any monies that may be available for such purpose, on any date on or after October 1, 2032, at a redemption price equal to 100% of the principal amount of the Bonds to be redeemed, plus accrued interest to the redemption date, without premium. The Bonds maturing on October 1, 2047 are subject to mandatory redemption at the redemption price of par plus accrued interest on the dates and in the amounts of the Sinking Fund Installments set forth below: Date Redemption (October 1) Requirements 2043 $ 1,735,000 2044 1,825,000 2045 1,925,000 2046 2,025,000 2047* 2,130,000 *Maturity The Bonds maturing on October 1, 2052 are subject to mandatory redemption at the redemption price of par plus accrued interest on the dates and in the amounts of the Sinking Fund Installments set forth below: Date Redemption (October 1) Requirements 2048 $ 2,245,000 2049 2,355,000 2050 2,475,000 2051 2,595,000 2052* 2,725,000 *Maturity Page 3 Redemption of this Bond under the preceding paragraphs shall be made as provided in the Resolution upon notice given by first class mail sent at least 20 days prior to the redemption date to the Registered Holder hereof at the address shown on the registration books maintained by the Registrar;provided,however,that failure to mail notice to the Registered Holder hereof, or any defect therein, shall not affect the validity of the proceedings for redemption of other Bonds as to which no such failure or defect has occurred. In the event that less than the full principal amount hereof shall have been called for redemption, the Registered Holder hereof shall surrender this Bond in exchange for one or more Bonds in an aggregate principal amount equal to the unredeemed portion of principal, as provided in the Resolution. Reference to the Resolution and any and all resolutions supplemental thereto and modifications and amendments thereof and to the Act is made for a description of the pledge and covenants securing this Bond,the nature,manner and extent of enforcement of such pledge and covenants, and the rights, duties, immunities and obligations of the Issuer. It is hereby certified and recited that all acts, conditions and things required to exist, to happen and to be performed precedent to and in the issuance of this Bond, exist,have happened and have been performed, in regular and due form and time as required by the laws and Constitution of the State of Florida applicable thereto, and that the issuance of the Bonds does not violate any constitutional or statutory limitations or provisions. Neither the members of the Board of County Commissioners of the Issuer nor any person executing this Bond shall be liable personally hereon or be subject to any personal liability or accountability by reason of the issuance hereof. This Bond shall not be valid or become obligatory for any purpose until the certificate of authentication hereon shall have been signed by the Registrar. [Signature page for this Bond follows on the immediately succeeding page] Page 4 N WITNESS WHEREOF, Monroe County, Florida has issued. this Bond and has caused the same to be executed by the manual or facsimile signature of the Mayor of its Board of County Commissioners,and by the manual or facsimile signature of the Clerk to such Board, and, its seal or a facsimile thereof to be affixed or reproduced hereon,all as of the Date of Original Issue: HIE. MONROE COUNTY, LCORI A ( E )» Mayor,Board of County Commissioners Kevin Mdok, Clerk of the Circuit Court and Comptroller in and for Monroe County,Florida and Ex-Officio Clerk to the Board of County Commissioners of Monroe County, Florida Pamela G. Hancock,Deputy Clerk APPROVED AS TO FORM AND LEGAL SUFFICIENCY: Senior Assistant Co ty r Page.5 CERTIFICATE OF AUTHENTICATION This Bond is one of the Bonds of the issue described in the within-mentioned Resolution. DATE OF AUTHENTICATION: THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,Registrar By: Authorized Officer Page 6 Unless this certificate is presented by an authorized representative of The Depository Trust Company to the Issuer or its agent for registration of transfer, exchange or payment, and any certificate issued is registered in the name of Cede & Co. or such other name as requested by the authorized representative of The Depository Trust Company and any payment is made to Cede & Co., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL since the registered owner hereof, Cede & Co., has an interest herein. FOR VALUE RECEIVED,the undersigned sells, assigns and transfers to Insert Social Security or Other Identifying Number of Assignee (Name and Address of Assignee) the within bond and does hereby irrevocably constitute and appoint , as attorneys to register the transfer of the said bond on the books kept for registration thereof, with full power of substitution in the premises. Dated: Signature guaranteed: NOTICE: Signature must be guaranteed by NOTICE: The signature to this assignment an institution which is a participant in the must correspond with the name of the Securities Transfer Agent Medallion Program Registered Holder as it appears upon the face (STAMP) or similar program. of the within bond in every particular,without alteration or enlargement or any change whatever and the Social Security or other identifying number of such assignee must be supplied. Page 7 The following abbreviations, when used in the inscription on the face of the within Bond, shall be construed as though they were written out in full according to applicable laws or regulations: TEN COM --as tenants in common TEN ENT -- as tenants by the entireties JT TEN -- as joint tenants with right of survivorship and not as tenants in common UNIF TRANS MIN ACT -- (Cust.) Custodian for under Uniform Transfers to Minors Act of (State) Additional abbreviations may also be used though not in list above Page 8