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(1) The Finance Director of the Issuer certifies that the Issuer is not in default under the <br /> covenants of this Resolution; <br /> (2) The Finance Director shall certify at the time of issuance of the Additional Parity <br /> Bonds that based on audited financial statements of the Issuer, the Local Government <br /> Half-Cent Sales Tax received by the Issuer during the most recently completed Fiscal <br /> Year immediately preceding the date of issuance of such Additional Parity Bonds shall <br /> equal or exceed 1.25 times the portion of Maximum Bond Service Requirement on <br /> the Outstanding Bonds anticipated to be paid with Local Government Half- Cent <br /> Sales Tax in accordance with Section 19.B. hereof and the Maximum Bond Service <br /> Requirement for the proposed Additional Parity Bonds. In the event such Additional <br /> Parity Bonds are to be secured by a source of revenue in addition to the Local <br /> Government Half-Cent Sales Tax, such additional revenues (based on the amount <br /> received by the County in the most recent Fiscal Year) shall also be considered in <br /> determining whether such revenues equal or exceed 1.25 times the Maximum Bond <br /> Service Requirement as set forth above. <br /> For the purpose of determining the portion of Maximum Bond Service Requirement <br /> on the Outstanding Bonds"anticipated"to be paid with Local Government Half-Cent <br /> Sales Tax, the difference between the Maximum Bond Service Requirement of the <br /> Bonds and the sum of the State Payments and the average amount of the Fourth Cent <br /> Tourist Development Tax, will be the amount "anticipated" to be paid with Local <br /> Government Half-Cent Sales Tax. The average amount of the Fourth Cent Tourist <br /> Development Tax shall be determined by adding the amount attributable to one cent <br /> of the Tourist Development Tax collected by the Issuer in the four most recently <br /> completed Fiscal Years and dividing such total by four. <br /> G. BOOKS AND ACCOUNTS. The Issuer shall keep proper books, records and accounts <br /> of the receipts of the Pledged Revenues which shall be separate and apart from all other records and <br /> accounts of the Issuer, showing correct and complete entries of revenues collected and any Holders <br /> of any of the Bonds or any duly authorized agent or agents of such Holders shall have the right at any <br /> and all reasonable times to inspect such books, records and accounts. The Issuer shall, at least once <br /> in a year, cause the audit of such books, records and accounts to be made by an independent firm of <br /> certified public accountants. <br /> Copies of each such audit report shall be placed on file with the Issuer and be made available <br /> at reasonable times for inspection by Holders of the Bonds. <br /> H. PLEDGED REVENUES NOT SUBJECT TO REPEAL. The Issuer has full power <br /> to irrevocably pledge such Pledged Revenues to the payment of the principal of and interest on the <br /> Bonds, and the pledging of such Pledged Revenues in the manner provided herein shall not be subject <br /> to repeal or impairment by any subsequent ordinance, resolution or other proceedings of the <br /> governing body of the Issuer or by any subsequent act of the Legislature of Florida. <br /> 17 <br />