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and to provide prior notice to AMBAC of any amendments to either the Authorizing Resolution or this Resolution. The purchase of a debt service reserve fund surety policy (the "Reserve Surety") from AMBAC is in the best interest of the Issuer. The Issuer hereby accepts the terms, conditions and agreements relating to the Reserve Surety in accordance with the Commitment for Reserve Surety as attached hereto as Exhibit "D" and incorporated herein. The Chairman, Vice Chairman or County Administrator are authorized to execute and the Clerk is authorized to attest upon the approval thereof as to form and legal sufficiency by the County Attorney, a financial guaranty agreement or similar agreement as required by the commitment set forth on Exhibit "E" hereto, with such changes, insertions and omissions as may be approved by such officers. In the event the Issuer is required to utilize any funds on deposit in the Reserve Account for the Bonds, the funds on deposit therein shall be used prior to making a draw under the Reserve Surety, and in the event the Issuer subsequently replaces the funds on deposit in the Reserve Account with another surety or similar policy, then such other surety or reserve policy shall be drawn upon prior to drawing upon the Reserve Surety. In the event the Reserve Surety is drawn upon, the Issuer shall use any available Pledged Funds to reimburse Ambac for the amount of draws thereunder, all in accordance with the financial guaranty agreement hereinabove approved. SECTION 7. Section 15 of the Authorizing Resolution is hereby amended to read as follows: SECTION 15. SECURITY FOR AND CERTAIN COVENANTS AND PROVISIONS WITH RESPECT TO THE BONDS. The payment of the principal of, premium, if any, and interest on the Bonds shall be secured forthwith equally and ratably by a pledge of and first lien upon the Pledged Funds. The County does hereby irrevocably pledge the Pledged Funds. The County shall be obligated to take all lawful action necessary or required to continue to be entitled to receive the Half -Cent Sales Tax. In each Fiscal Year that portion of the Half -Cent Sales Tax constituting Pledged Funds, and the Racetrack and Jai Alai Fronton Funds shall be used (i) to pay the principal of, premium, if any, and interest on the Bonds in such Fiscal Year to the extent that amounts in the Sinking Fund (other than in the Reserve Account) are insufficient to make such payments, and (ii), to reimburse the provider of the Reserve Surety for any draws on the Reserve Surety to the extent the funds on deposit in the Revenue Fund are insufficient therefore. To the extent that the Half -Cent Sales Tax and the Racetrack and Jai Alai Fronton Funds received by the County in any Fiscal Year are not required for the payment of the principal of, premium, if any, and interest on the Bonds in such Fiscal Year or to reimburse the provider of the Reserve Surety for any draws on the Reserve Surety in such Fiscal Year, they may be used by the County for any lawful purpose. The Half -Cent Sales Tax and the Racetrack and Jai Alai Fronton Funds liened and pledged hereunder may be invested and reinvested only in Authorized Investments maturing not later than the date on which the same will be needed for the purposes therefor. Any and all income received by the 4