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In addition, the Bonds or portions thereof, shall be <br />redeemable at any time, at the option of the County, in whole or <br />in part, by lot if less than all, at the price of the principal <br />amount thereof, plus accrued interest to the date of redemption. <br />At least 10 days prior to the redemption date, notice of <br />such redemption shall be filed with the paying agent and shall be <br />mailed, postage prepaid, to all Registered Owners of Bonds to be <br />redeemed at their respective addresses as they appear on the <br />registration books. Interest shall cease to accrue on any Bonds <br />duly called for prior redemption, after the redemption date, if <br />payment thereof has been duly provided. The privilege of <br />transfer or exchange of any of the Bonds is suspended for a 15 <br />day period preceding the mailing of the notice of redemption." <br />B. Section 15 of the Resolution is hereby amended to <br />read as follows: <br />"SECTION 15. FLOW OF FUNDS; GENERAL COVENANTS. For so <br />long as any of the principal of and interest on any of the Bonds <br />shall be outstanding and unpaid, or until there shall have been <br />set apart in the Improvement Fund, Series No. 2, hereinafter <br />created, a sum sufficient to pay when due, the entire principal <br />amount of the Bonds remaining unpaid, together with interest <br />accrued or to accrue thereon, the County covenants with the <br />holders of any and all of the Bonds issued pursuant to this reso- <br />lution as follows, that: <br />A. IMPROVEMENT FUND, SERIES NO. ONE. The County shall <br />establish with Florida National Bank, Vero Beach, Florida, and <br />maintain so long as any of the Bonds are outstanding, a special <br />fund which is hereby created and designated 'Improvement Fund, <br />Series No. 2' thereinafter called 'Improvement Fund'). All money <br />received from the collection of Assessment installments shall <br />constitute trust funds and shall be deposited into the <br />Improvement Fund, after satisfaction of the provisions of the <br />resolutions authorizing the issuance -of the Prior Lien <br />Obligaticns. Such money on deposit from time to time in the <br />-3- <br />JUN 5 1985 <br />BOOK 1 P-4., 70 <br />