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F' fi 0V 4 1981 <br />RESOLUTION NO. 81-87 Boa 48 PAGE <br />A RESOLUTION FURTHER AMENDING A RESOLUTION ENTITLED: <br />"A RESOLUTION PROVIDING FOR COMPLETION OF THE <br />RECONSTRUCTION, ALTERATION, FURNISHING AND EQUIPPING <br />OF A COURTHOUSE ANNEX IN INDIAN RIVER COUNTY, <br />FLORIDA; AUTHORIZING THE ISSUANCE OF NOT EXCEEDING <br />$725,000 CAPITAL IMPROVEMENT REVENUE BONDS, SERIES <br />1981, TO FINANCE THE COST THEREOF; AND PROVIDING FOR <br />THE PAYMENT OF THE PRINCIPAL OF AND INTEREST ON SUCH <br />BONDS FROM THE RACE TRACK FUNDS AND JAI ALAI FRONTON <br />FUNDS ACCRUING ANNUALLY TO INDIAN RIVER COUNTY, <br />FLORIDA, PURSUANT TO LAW, AND CERTAIN INVESTMENT <br />INCOME; PROVIDING FOR THE RIGHTS OF THE HOLDERS OF <br />SAID BONDS," AS AMENDED. <br />BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF <br />INDIAN RIVER COUNTY, FLORIDA: <br />SECTION 1. Subsections B (2) and (3) of Section 14 of <br />the resolution adopted on May 6, 1981, as amended by resolution <br />adopted on May 20, 1981, and referred to by title in the title of <br />this resolution (hereinafter called the "Resolution") be and the <br />same are hereby further amended to read as follows: <br />"SECTION 14. COVENANTS OF THE COUNTY. . <br />B. DISPOSITION OF RACE TRACK FUNDS. . . <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 and from other funds of the County legally available for <br />such purpose.. No further payments shall be made into such <br />Reserve Account when there has been deposited therein and as long <br />as there shall remain on deposit therein a sum equal to the maxi- <br />mum amount of principal and interest which will mature and come <br />due on the Obligations in any ensuing Fiscal Year. <br />Any withdrawals from the Reserve Account shall be sub- <br />sequently restored from the first moneys available in the Sinking <br />Fund after all required current payments into the Sinking Fund, <br />-1- <br />