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SECTION 7. SECURITY The principal of, redemption premium, if any, and interest on the Obligations issued under the authority of this ordinance may be payable from and/or secured by (a) a lien upon and pledge of any funds of the County legally available for such purpose; or (b) a covenant to (i) budget and appropriate or (ii) direct an appropriate officer of the County to submit to the Board for budget approval, as the case may be, from any funds of the County legally available for such purpose, an amount sufficient to pay the principal of, redemption premium, if any, and interest on the Obligations (collectively, the "Security"). SECTION 8. NEGOTIABILITY The Obligations shall be negotiable instruments under the Uniform Commercial Code -Investment Securities laws of the State of Florida. SECTION 9. INVESTMENT OF FUNDS Proceeds of the sale of any Obligations and any Security securing payment of the Obligations may, at the option of the County, be invested in the following manner: A. Any investments authorized or permitted from time to time by Section 125.31, Florida Statutes, or any other law of the State of Florida controlling the investment of surplus public funds of a county. B. Shares of the Florida Counties Investment Trust. C. Any other investments specified by resolution of the The County shall, in any resolution authorizing the issuance of its Obligations providing for the investment of the proceeds of the sale of such Obligations, select all or any portion of the above investment vehicles as permitted investments under such resolution, and, in its discretion, may provide additional restrictions to such investments in the resolution. The provisions of this Section 9 shall not be deemed to amend any resolutions or ordinances authorizing the issuance of any outstanding obligations of the County. -q-