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No <br />BO D INSURANCE" herein and"SPECIMEN MUNICIPAL BOND INSURANCE POLICY" <br />at ached hereto as Appendix D. <br />dd tional Parity Obligations <br />Additional Obligations on a parity with the Series 1991 <br />Bonds and the Parity Bonds ("Additional Parity Obligations") <br />be issued under the o :-- Qe so /ti 4 0" ) 5"`i <br />(1) There shall have been obtained and filed with the <br />Count. not later than the date of delivery of Additional Par <br />Oblige ns, a certificate of a Qualified Independent Consu <br />(a) state - that he has audited the books and records <br />County relat • to the collection and receipt of the <br />and Jai Alai Fr. ton Funds and Half -Cent Sales Tax; <br />forth the amount • Racetrack and Jai Alai Fron <br />Half -Cent Sales Tax r---ived by the County for tw <br />out of the eighteen (18 months immediately <br />of delivery of such Additio -1 Parity Obligat' <br />which such certificate is made, and (c) sta <br />and Jai Alai Fronton Funds and - f-Cen <br />the payment of the principal of, in <br />the Series 1991 Bonds and the Par <br />Senior Half -Cent Sales Tax Bond <br />month period is equal to at <br />Service Requirement to beco <br />Bonds then outstanding -nd <br />proposed to be issued <br />(2) The Co ty shall not be in default in comply ng with <br />any of the cov- ants, terms or provisions in the Resoluti•• and <br />all payment required by the Resolution to be made into the ds <br />and acco s established thereunder shall have been made to ,e <br />full - ent required. <br />In addition, the County may issue additional bonds on a parity <br />with the Senior Half -Cent Sales Tax Bonds as described under the <br />caption "THE SENIOR HALF -CENT SALES TAX BONDS" herein. <br />nt: <br />of the <br />acetrack <br />setting <br />n Funds and <br />e (12) months <br />ceding the date <br />ns with respect to <br />ng that the Racetrack <br />ales Tax available for <br />st and premium, if any, on <br />nds after payment of the <br />for su preceding twelve (12) <br />east 1.25 t es the maximum Bond <br />due in any ensui • Bond year on the <br />the Additional Pa 'ty Obligations <br />MUNICIPAL BOND INSURANCE <br />Payment Pursuant to Municipal Bond Insurance Policy <br />AMBAC Indemnity Corporation (the "Insurer") has made a <br />commitment to issue a municipal bond insurance policy (the <br />"Municipal Bond Insurance Policy") relating to the Series 1991 <br />Bonds effective as of the date of issuance of the Series 1991 <br />Bonds. Under the terms of the Municipal Bond Insurance Policy, <br />AMBAC Indemnity will pay to the United States Trust Company of <br />New York, in New York, New York or any successor thereto (the <br />"Insurance Trustee") that portion of the principal of and <br />8 <br />•fit f474tri,(- "' j2 n e y -11/i1 {;orn777x'"49" i---PA"-ft i "o�u <br />-5A4W- �"8�-i s "taLa .` rs 51,00), �f�� Q X (- F �l' P l tk p . rp c AO o <br />ip 111 be under <br />�,,,®t, pu via IS; r Ao rods , bid i u^dJ _ J �% <br />