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Upon surrender, of any Bond for redemption in part only, the Registrar shall authenticate and deliver to the Owner thereof, the cost of which shall be paid by the. County, a new Bond of an authorized denomination equal to the unredeemed portion of the Bond surrendered. SECTION 13. FORM OF BONDS. The text of the Bonds shall be in substantially the form attached hereto as Exhibit A and incorporated herein by reference as if fully set forth herein, with such omissions, insertions and variations as may be necessary and desirable and authorized and permitted by this Resolution or by any subsequent resolution adopted prior to the issuance thereof. SECTION 14. SALE OF BONDS. The Bonds shall be issued and sold at public sale or negotiated sale in such manner and at such price or prices consistent with the applicable statutes, all at one time or in installments from time to time, as shall be hereafter determined by the County Commission in a subsequent resolution or resolutions. SECTION 15. APPLICATION OF BOND PROCEEDS. The proceeds, including accrued interest and premium, if any, received from the sale of any or all of the Bonds shall be applied simultaneously with the delivery of the Bonds to the purchaser thereof, as follows: (A) The accrued interest and capitalized interest, if any, shall be deposited in the Debt Service Fund hereinafter created and shall be used only for the purpose of paying interest coming due on the Bonds. (B) To the extent not reimbursed therefor by the original purchaser of the Bonds, the County shall pay all costs and expenses in connection with the preparation, sale, issuance and delivery of the Bonds. (C) The remainder of the proceeds of the sale of the Bonds shall be deposited in the "Indian River County General Obligation Bonds, Project Acquisition Fund" (the "Acquisition Fund") hereby created, which shall be a trust fund for the benefit of the Owners of the Bonds, and used only for the costs of the Projects. The proceeds of the sale of the Bonds shall be and constitute trust funds for the purposes hereinabove provided and there is hereby created a lien upon such moneys, until so applied, in favor of the Owners of said Bonds. Moneys in the Acquisition Fund may from time to time be invested in Authorized Investments. SECTION 16. LEVY OF AD VALOREM TAXES. (A) There is hereby created the "Indian River County General Obligation Bonds, Debt Service Fund" (the "Debt Service Fund") which shall be a trust fund for the benefit of the Owners of the Bonds. Within the Debt Service Fund there shall be established an Interest Account and a Principal Account. There is hereby created a lien upon any and all moneys deposited in such Debt Service Fund in favor of the Owners of the Bonds until applied as provided herein. Pursuant to Resolution No. 2004-062 and this Resolution, in each Fiscal Year while any of the Bonds are outstanding and unpaid, there shall be levied and collected an ad valorem tax on all the taxable property within the County sufficient to pay the interest on the Bonds as the same becomes due and payable, and to provide for the payment of the principal and redemption premium, if any, of said Bonds at their maturity or stated redemption date, and the County is, and shall be, irrevocably and 7