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. . M ® r <br />to be issued. For the purpose of determining maximum Bond <br />Service Requirement in the event of the proposed issuance of <br />Additional Parity Obligations, the interest rate on any proposed <br />variable rate Additional Parity Obligations shall be deemed to be <br />the greater of 110% of the current interest rate on such variable <br />rate Additional Parity Obligations as if they were then out- <br />standing, or The Bond Buyer 20 General Obligation Bond Index for <br />the last week of the month preceding the date of sale of such <br />proposed variable rate Additional Parity Obligations." <br />G. Subsection 16N of the Resolution is hereby deleted <br />and.Subsection 160 is hereby redesignated Subsection 16N. <br />H. Section 17 of the Resolution is hereby amended to <br />read as follows: <br />"SECTION 17. CONSTRUCTION TRUST FUND. All of the pro- <br />ceeds derived from the sale of the Bonds (except (a) an amount <br />equal to accrued and capitalized interest, if any, on the Bonds <br />to be deposited in the Sinking Fund, and (b) an amount equal to <br />all or a portion of the Reserve Account Requirement to be depo- <br />sited in the Reserve Account), plus any legally available funds <br />in an amount approved by the County Administrator of the Issuer, <br />shall be deposited in a trust fund which is hereby created, <br />established and designated as the 'Recreational Facilities <br />Construction Trust Fund' (the 'Construction Fund'). The <br />Construction Fund shall be deposited and maintained with any <br />banking institution in the State of Florida approved as a county <br />depository and subsequently designated by the Board. The money <br />therein shall be used only for the payment of the cost of the <br />Project, brit, pending such application, may be invested in <br />Authorized Investments maturing at such time or times as <br />necessary to meet the requirements of the Construction Fund, the <br />income from such investments to remain in the Construction Fund <br />pending completion of the Project. Any balance of unexpended <br />money in the Construction Fund after completion of the Project <br />shall be deposited in the Revenue Fund." <br />��� -9- <br />APR 1 BOOK � F,-197 <br />