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<br />i 4.50. Section 15, as set forth beginning on page 3 of the 1985
<br />i' Amending Resolution, shall be amended by:
<br />(A) substituting, the first (lot) line of Section
<br />15.A,, the word "TWO" for the words "ONE".
<br />C31
<br />(B) deleting, in Section 15.A., the words "with Florida
<br />r National Bank, Vero Beach, Florida,;
<br />(D) (i) inserting, after the words "issuance of the
<br />Bonds" appearing in the fourth (4th) line of
<br />Section 15,H, the words "or the 1988 Closing Date,
<br />as the case may be,", (11) inserting, after the
<br />word 'Coda" appearing in the fifth (5th) Line of
<br />section 15.H., the words "of 1954 or 1966, as the
<br />case may be, as amended and supplemented (referred
<br />to herein as "Internal Revenue Code" or "Coda")",
<br />(iii) inserting, after "Section 103(c)" appearing
<br />in the seventh (7th) line of such Section 15.H.,
<br />the words "or Sections 103(b) and 148, as the case
<br />may be", and (iv) inserting at the and of such
<br />Section, after the word "Service", the following:
<br />"The County will comply with all requirements of
<br />applicable provisions of the Code, including,
<br />without limitation, the applicable provisions of
<br />Section 1.103-13, 1.103-14 and 1.103-15 of the
<br />applicable regulations heretofore published in the
<br />Federal Register and with the applicable provisions
<br />of any other regulations hereafter published,"
<br />4.60.
<br />Section 2,
<br />(C) substituting, in the last paragraph
<br />of
<br />Section
<br />1, shall be amended to add thereto
<br />the capitalized
<br />15,A., the words "in those investments
<br />specified in
<br />OD
<br />�^
<br />the
<br />Section 125,31, Florida Statutes (1987)"
<br />for the
<br />"y
<br />words "in certificate of deposit or
<br />the
<br />Florida
<br />Cold account, issued or maintained, as
<br />the
<br />case may
<br />be, by the Bank".
<br />(D) (i) inserting, after the words "issuance of the
<br />Bonds" appearing in the fourth (4th) line of
<br />Section 15,H, the words "or the 1988 Closing Date,
<br />as the case may be,", (11) inserting, after the
<br />word 'Coda" appearing in the fifth (5th) Line of
<br />section 15.H., the words "of 1954 or 1966, as the
<br />case may be, as amended and supplemented (referred
<br />to herein as "Internal Revenue Code" or "Coda")",
<br />(iii) inserting, after "Section 103(c)" appearing
<br />in the seventh (7th) line of such Section 15.H.,
<br />the words "or Sections 103(b) and 148, as the case
<br />may be", and (iv) inserting at the and of such
<br />Section, after the word "Service", the following:
<br />"The County will comply with all requirements of
<br />applicable provisions of the Code, including,
<br />without limitation, the applicable provisions of
<br />Section 1.103-13, 1.103-14 and 1.103-15 of the
<br />applicable regulations heretofore published in the
<br />Federal Register and with the applicable provisions
<br />of any other regulations hereafter published,"
<br />4.60.
<br />Section 2,
<br />beginning
<br />on
<br />page
<br />1, shall be amended to add thereto
<br />the capitalized
<br />terms that
<br />are defined
<br />in
<br />the
<br />1988 Amending Resolution.
<br />4,70, Section 14, beginning on page 19, shall be amended to add the
<br />following additional paragraph:
<br />"Notwithstanding anything to the contrary contained in this Series No,
<br />2 Resolution, from and after the 1988 Closing Date no part of the Assessments
<br />shall be applied to, pledged to, deemed to be security for.or a source of payment
<br />for, any amounts due or to become due with respect to any Prior Lien Obligation,
<br />the lien of the Bonds upon the Assessments shall not be junior, subordinate or
<br />inferior to the lien thereon of the Prior Lien Obligations, the Assessments shall
<br />in no way be deemed subject to the terms and provisions of the resolutions
<br />authorizing the issuance of the Prior Lien Obligations, and all provisions hereof
<br />with respect to the Prior Lien Obligations and the resolutions authorizing their
<br />issuance are hereby deleted and made inoperative and of no force or effect. This
<br />paragraph is the result of a Clarification and Waiver dated May 18, 1988 from the
<br />United States of America acting by and through the U, S. Department of
<br />Agriculture Farmers Home Administration, the holder of all the prior Lien
<br />Obligations, a copy of which is attached to the 1988 Amending Resolution, as
<br />Exhibit II and made a part thereof,"
<br />4,80, Paragraph C of Section 3, on page 3, shall be amended by adding,
<br />immediately after the first sentence thereof, the sentence "From and after the
<br />1988 Closing Date said lien and pledge shall not be junior, subordinate or
<br />inferior to the lien of the holders of the Prior Lien Obligations,",
<br />ARTICLE 5 AUTHORIZATION AND CONSUMMATION OF THE 1988 TRANSACTION, The
<br />1988 Transaction is hereby authorized. The Chairman and Ex -Officio Clerk of the
<br />Board and the proper officers of the County are hereby authorized and instructed
<br />by the Board to enter into, execute, seal and deliver, on behalf of the County,
<br />V1
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