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PAC 8. The Bonds are payable from certain Race Track Funds and Jai Alai Fronton Funds, as defined in the resolution authorizing their issuance, and investment income (the "Pledged Revenues"). All amounts of proceeds of the Bonds and Pledged Revenues deposited into the Sinking Fund will be used within 13 months of the date of deposit for payment of principal of an interest on the Bonds. The County reasonably expects that the Pledged Revenues in each year will be sufficient to pay in such year the required debt service on the Bonds and reserves therefor. Except for the Sinking Fund and Reserve Account therein, and the Surplus Account, all described in Section 14(B) of the resolution authorizing the Bonds, the County has not created or established and does not expect to create or establish any other fund for payment of debt service on the Bonds. 9. All income from investments of proceeds deposited in the Construction Trust Fund will remain therein and will be expended for costs of the Project within one year after receipt. All income on investments in the Sinking Fund and the Reserve Account will be expended for payment of principal of or interest on the Bonds within 13 months after receipt. 10. The. Reserve Account for the Bonds will be funded by depositing therein theesum of $114,734.47 (equal to the maximum debt service on the Bonds in any year), consisting of $105,521.94 from the proceeds of the Bonds and $9,212.53 from other moneys of the County legally available for such purpose. All amounts in the Reserve Account in excess of the sum of $105,521.94 will not be invested at.a rate in excess of 1/8 of 1% above the yield on the Bonds which is computed to be 14.679%. The amounts deposited into the Reserve Account and invested earnings thereon are not expected to exceed $114,734.47 at any time prior to the final maturity of the Bonds. 11. The County has established a Surplus Account into which all surplus Pledged Revenues will be deposited. Moneys i -n the Surplus Account will be used, to the extent sufficient ,therefor, on each principal maturity date of the Bonds prior to the first call date to purchase Bonds of any maturity at not exceeding the redemption price of the Bonds on the next succeeding redemption date. Commencing on the first call date of the Bonds, October 1, 1991, and on each call date thereafter, moneys in said Surplus Account, to the extent sufficient -therefor, shall be used to redeem Bonds at the then redemption price. The County has made a reaso- nable,effort to schedule payment of as much debt service as is practicable in each year prior- to the first -call date which is October 1, 1991. Commencing -on the firs -t call date any moneys on deposit in the Surplus Account will not -.be invested at a rate in excess of 1/8 of 1% above the yield on the Bonds which is computed to be 14.679`x. All income on investments in the Surplus Account will,.within 13 months after receipt, be deposited into the Sinking Fund and expended for payment of debt service on the Bonds. 12. None of the proceeds of the Bonds will be used as a substitute for other funds which were otherwise to be used as a source of financing for any part of'the cost of the Project. 13. The County has not issued any other Bonds to finance the Project or any part thereof within the one year period preceding the date hereof. 14. The County has not been advised of any listing or proposed listing of the Internal Revenue Service determining that the County's certificate with respect to its obligations may not be relied upon. � � a