2001-072 - Laserfiche WebLink

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