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u xs ...�. max; ... e .-.x:. :, ., ..,:.•� :•. ... :..,,.. _ ...u. - - ,w.r oe s -s.n.. <,« ,. .:€ »: z. s.. xi.a:. ,f..' �Ww-.,yfi..>ov=.,-: <br />EPP- <br />47-41 <br />,,.. ; .::.. �. a' _ ;. .kt .-s: .. .G , : .. ,-. _;...; .. or. ' u .. .,..:,:... .. s�r, a. �. ., '.d.r �: �5'-; ia.. ✓_ r;,..d3s.'�,. a3f'a..o:,, c a+:.� <br />x�4 1' <br />RESOLUTION NO. <br />A RESOLUTION AMENDING A RESOLUTION ENTITLED: <br />"-A RESOLUTION PROVIDING FOR COMPLETION OF THE <br />RECONSTRUCTION, ALTERATION, FURNISHING AND <br />EQUI.PP'ING OF A_COURTHOUSE ANNEX IN INDIAN <br />RIVER COUNTY,-FLORIDA;-AUTHO.RIZING THE ISSUANCE <br />.OF NOT EXCEEDING'$725,000 CAPITAL IMPROVEMENT <br />REVENUE BONDS, SERIES 19$1, -TO FINANCE THE <br />COST THEREOF; AND PROVIDING FOR THE PAYMENT OF <br />THE- PRINCIPAL OF AND INTEREST ON SUCH BONDS- <br />FAOM THE RACE TRACK FUNDS AND JAI ALAI FRONTON <br />FUNDS ACCRUING ANNUALLY TO INDIAN RIVER <br />COUNTY, FLORIDA, PURSUANT TO LAW, ANA CERTAIN <br />INVESTMENT -INCOME -;--PROVIDING FOR. -THE RIGHTS;_ OF <br />THE HOLDERS OF SAID=BONDS," ADOPTED ON MAY 6, _ - <br />1981. <br />BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF <br />INDIAN RIVER COUNTY,. FLORIDA: _ <br />SECTION 1. - Subsection -s B and C of Section 14 of the <br />resolution adopted.on May 6, 1981, and referred to by title in <br />the title of this resolution --(hereinafter. called the "Resolution")_ <br />be and the same are hereby amended -to read as follows: <br />"SECTION 14. COVENANTS -OF THE COUNTY. <br />B. DISPOSITION OF .RACE TRACK FUNDS. All Race Track <br />Funds and -Jai Alai Fronton Funds at any time remaining on deposit <br />..n_the Sinking Fund --shall be disposed of commencing with the <br />Fiscal Year 1980-1981, only in the following manner and in the <br />following order of priority: <br />(1) Moneys on deposit in the Sinking Fund shall first <br />be used to pay all interest becoming due and payable on the <br />Obligations during the current Fiscal Year and the principal <br />amount of Obligations which will become due and payable on the <br />next principal maturity date. <br />(2) Moneys remaining in the Sinking Fund shall next be <br />applied by the County to maintain a Reserve Account in said <br />Sinking Fund, which Reserve Account is hereby created and <br />established, in an amount equal to the maximum amount of prin- <br />cipal and interest which will mature and come due on the <br />Obligations in any ensuing Fiscal Year, which such sum shall be <br />initially provided from the proceeds of the sale of the Obliga- <br />tions. No further payments shall be made into such Reserve <br />-1- <br />