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M w
<br />W cendtcienal lrlevtaba loll" of
<br />credit leaned to the raying A,... A .gut If he
<br />Mndheld,re, by a bank. It ruch bank to ,ted at lout
<br />eMe by Shy 1od -Aa- by Roody'e.
<br />AM such Is am Atcowt Credit Irutrwsnt shall .at the furths,
<br />tart and londitlan. den[lbed 1, s,b,,,ti,n Y bel. and ,hell be
<br />payable Or raillble to be drewn upon, as the car my be (upon the
<br />5111,{ of mitt as r.q.1rld tMrewder), by the Prying A6ent on any
<br />fet:dlbt pay— dere en Ml'h • deficiency .,let, Mich cannot be
<br />wed by sty In any
<br />athIT fund aT A .Una held pursuant hen to ane
<br />available for each pOrpOm. It .bull bl the duty of the Paying
<br />AA- to, and the Paying 1g..c .hall, .11htrtha, ,th,r1,atm
<br />or direction fru the COwty. A.uma the n...mity for a me11 or
<br />dear open any Rarn Aeeount Credit 1.atrvsenc and provide notice
<br />e the t.. of the Rare• Accowt Cradle Inotewent In accoldenca
<br />.leh LI. tau rot lair then three dey. (or nth appr.prfa[• ate
<br />parlod ae .111, Mn covblmd vin the ',all, ,[ required paysent
<br />under the III— Account Credit
<br />Instrtwnt, • re pay.enc unser
<br />the Ite"IZ Atowt Credit aattwent o r nese the lotest
<br />paysent dere) Ill," to each Intreet peyrn[ .t•. If e
<br />dlabur..... Iv ode uw, my such Its Account Credit
<br />loac_t, M• Cow'y say reiutt• the vs.I— Halt of sucb
<br />Marry. Actowc Credit I,e.rwenc im•dl•tely following each
<br />dl.burlernt, othsrvte chs as of credit [ rad the Pa.—
<br />Attewt requlrernt toe such R•.•rve Accowt Cradle In,trwen, shell
<br />be approp,lat•ly ".doted.
<br />/brthersre, W County my at any rise and fret tW to ter awe
<br />to be depae/ted !n Me Rarn Account 1111, • Rl: r Accowt Credit
<br />7wAsan[
<br />trant AM esus. An appropriate to ba vlthdran I... the
<br />'m& Actowc and tlau.d to chs County.
<br />Notuy. in the Learn Account .bull b, wed only for the purpoe of
<br />the paYsent of unring p[imip.l of or int.uc an Saha Mn the
<br />other sorry. I- the Stoking M ate lnvufficfenc th... for. and for
<br />atm pwpa.•. --
<br />a upon Me valuatlon of the Reserve
<br />Acton[ In each year. If Me.nye applied aM allocated to
<br />the
<br />IG1arn Aeeowt (ee.ept the inomdnt I— thereon) • sed the
<br />vol=t r.qulred, such excel say be wlthdr,wn and re1!.:..,
<br />ald to the
<br />Cowry. If W Were• Arcowc requlrsrnt .hall .t any tiro be
<br />sA[ls[tad 1n Mala or S, part with • quallfyini letter of ...dlc and
<br />h acre[ of credit Is abort to ..PIT• o newt, the County
<br />hereby aorhortea end direct the Prying Agent to draw upon such
<br />!acts of c,•dlc prior to It, mpiraclon o nlmclon [ the
<br />.orraqulsed t fully [ural the Rmeeva Accowe[requlrant onle.l
<br />Ax .flails. Worn Accowt Credit
<br />Inetrwenc is In Piece or the
<br />barn Ac<ow[ fa .th.rvl.. toy f.wa a tet required aunt.
<br />(1) 'I'M, apply sty. in the Weal flora to the P'"I., o1
<br />... debea
<br />t rvlce se
<br />and III— requtents of any oblig,cfon. If
<br />filCowry Mich have A Ile. on the Pledged Nod. J -ler red
<br />subordinate to the It,, of the goods.
<br />(6) The bell=e of anysry, amyl,. 1, the R•renu• )Lnd
<br />alter the Above required psysente have ben Olds way be deposited
<br />that Unif the theryt lee. Op r ting [spawns. ra aufflcl.nc to pay
<br />(a) ose boWred Percent (IN$) of all required d.poa/te Ln[. the
<br />r.Arv• Accowt, and (b) or huodree percent (100%) of the sort o[
<br />prtmlpal and Interest bectlng dm In such Fiscal Year an the ROMs
<br />For purpalu of this .ubuetlon, any asunea owed by the County to the Is,— of
<br />. rest.. arr,unc Credit lmtrurnc a tote of . It,, thereon, ,
<br />appr.prilt., .hall be .edea to the pal=tp.l and 1=rut payable
<br />On ten. Rand.
<br />to deism" ccapila=e with this let trema.
<br />F.sDORs AND RECORDS. The County"
<br />keep proper book,, . e,de and
<br />owl, .hewing correct .M ""I"' "trill of all tnwactiom of the County
<br />relating to Me syre.. 'M ""I"' Owna o[ the Bond. shall have the light at
<br />all r. .mbla time to lwpecc all books, record, and a t. of the Counly
<br />salattng " Yea syst.s.
<br />C. AIdUAl AUDIT. The Cowry (hall ale,, at least once s year, ulthl. 110
<br />days tar ell elms o[ tet Ptt3 ria, c e the book., record. and accounts
<br />Hieing to ,he 1;:0 t bA eudlced by . Indep.Menc fill of teltlfl,d Publlc
<br />oweant. A copy of -h .—I Udit. bell be furnished to any Regl.cerld
<br />Amer of Me geode wta .buil hese ..gw.ttd In wt 1[In/ that • copy of .uch audlte
<br />be furnished his.
<br />H. 110 IIOR7CACa OR sA18 OF Tib RYST01. The County .111 no ..It.
<br />sellIsla._=
<br />for the GAIL -d tharellos. Or th,mis, ...pttnai hereto provided end will the act thereof, oa.It.
<br />1.m1 or nth.raise dl.,.. of any aubarmtlel Pollan of Me fiy..... ,.cert as
<br />p,.lded herein.
<br />Tha Cowq my 111, lost ar Otherwise dlspo.e rf any of the property
<br />coaprie/ng • a.raotl.l ",till of the $yes in the event the, (a) such
<br />proparry 1. 4—ralted by ....hitt" of the Board, Upon Yea re meawtlon of the
<br />patty Adellil—cur and the cem.lta5 mgw.r., t be m t,/Ar ........y ,r
<br />w•fol or profltble Lor the sy.te; and (b) the sale, lease or other dlsp,altlon
<br />o[ .uch proparq 1. debnlyd by resolutlen of the board, open ncoseod•[lon
<br />of end eamcy Adatn11trto anal the Con.ullty e.glmen, not to Isp.ir the
<br />ab 11 try of the Count Cto cosply during the eu,[et or any futu.. Fiscal Year with
<br />the rata c.emot .• folth henln.
<br />Tia pe«•ads dett.ed !lal any 1111, tea or that dl"ttl. of .
<br />etAatn[lal mretn of the IT—.hall be wed for the ,st Ill— of eu[eunding
<br />Row. Any other precede ..l1Ad [..a the ale, leu• oe .the[ dlspts Iti.o of
<br />• "Ill, Of t1,• /yetis .lull b• pled in n .pprop[at food of he mun,y
<br />rlaring to the ea_.I or nple.Aaene o[ the $Yates, retire
<br />,tided, however, .11 or
<br />• portion OL aoy such p.or••" say be wed !as the them,[ of o .taoding
<br />Row t[ wth„fg•a by resold., of w meld ,pore the t„r.M.un ,f the
<br />Canty Adelnlatrator and the Co,111tt., [nglseen.
<br />I. plD -. far an long 11 aro of th• SoM. are oibnndlnA, eM u
<br />t1,. •runt ...t(c.bl•, aha covnry 111 c try adegnen un and
<br />.1Metnn
<br />lmwa=• n all bulldlnge, ,[octan. and nth.[ appropriate Properties of the
<br />/yet which Ole lIbj.,t to I... thl.5h Ll[• or wlndton, will carry adequa
<br />Publ/c liability tm..anc...M will ,M.Twi as a.y w.Fe=e of eel kind, and
<br />in
<br />eeM sawn -really
<br />talk, In rho oBontlOR o[ .111ar aelll ties ond
<br />propartlas In [1o11da. My .uch /asuTaroe .hell be carried for the bntlt of
<br />Lot I I .peelel fwd to be known as the •a..., and eater R....11 and
<br />Pepl c....r Yund•. Mich le hereby .,..,ad red whIM shall be ..ad
<br />only for the pu,po.• of paying the ,at. of rtemlen.,
<br />.le.gats, e[ addltl... to or the .pl.c.m of capital
<br />I-
<br />I! the Sy.tsv, and for em,g,,, repairs thereto or my mod by the
<br />CouncY for any lawful purpm..
<br />No further d.posln co the 91riking pond, the bond sec'...u.. Account o
<br />t1,• P•serv• Account shel3 be rrqulnd Men the ....agate am. deposited than In
<br />and . stn at Ire' egml to the .w of ail of the p,t.tp.1 and .Israel
<br />then d.• aM th.r.aftr b.covtng due 1. all ....Ing years for the gable then
<br />,ut•tending.
<br />C. PIyJ)CED FUNDS AND IHVESTH M OF FUNDS. The SlnYing )Ltd, the good
<br />Aso.'lration mcewc red the III— Act— hall be P1edg.d Fund., shall
<br />attcut tfoods for the port,.... ptvlded har.ln for I.M fund. end shall
<br />be .ad only for the puryt.. and In the "mer pr,td.d halal,. All ..eye In
<br />all fund, and • created or established hereunder mall be c ntlo....IT
<br />ured In that:!,,:, t[by which depots of public fwd. a required to be
<br />orad by the s[ the stere of Plortds. Noneys on d.poatc to the Rreme
<br />Fund and the Stnk/nb Fund (eac•pc she Rarn Account theeetn) say be I.— led
<br />red relnves cad only In Authorize• Im-ImInts a lain. not lair the, the dal
<br />n Mich the . ,eye tare(..111 be needed for the pulp.. of nth funded
<br />.._Ya en the Rrern Accoun[ sry be I-ml,d and relnreced In Atn.rl.ea
<br />tnva.tante at
<br />.ring n or
<br />later than tan (10) ye.., f[ov the data of p.,Mare.
<br />Ee..pt uy be prevtded In • aetetlen adapted In < ,tion with the
<br />l....nca ,f AEdltl.ml P..cy bond., soy and all incove r rived by Ma County
<br />floe such im,,tve.is small be deposited into the Rebate Accoun' h ..... der to the
<br />slant required and the tree ., If any, into the R-.—. Account.
<br />D. OPFAATI,N AND NAIMFMMCE. The Cowty will valn[tn the Sya[r a d
<br />all part ehereo[ In goad e.nditlo. and .ill operate the • e to an e[[Iclrnc and
<br />.viii m mking .ucA rPntna for rq.IDoen[ .. for r .ala.
<br />rep.I,. and
<br />lapis _.t a. vsy be proper for the ronmlcal op.raclon end
<br />valntena=e thereof.
<br />L. "M COYENAM. no Cowry nett it.. eecabIIM and—total. -h
<br />Unlfon Charge, and, as ppllrebl,. such Surch.rgaa tape.[ Feee, Special
<br />Aaeee.sents, P[anchl.e Fee. and ... In Ileo of Franchise Fee. I. connection .l th
<br />the sande shell 1—a.Me receipts
<br />ee ill, live to lc lose Men.v.r "neceeea bellcol.ocael to
<br />always pr,vld• either o[ M�following. rY.
<br />(1) Unlfory verge. lees Operactog E.peme..ufficlanc to pay
<br />(a) em hundred percent (1001) of all required deposit, Into the
<br />Reserve Account, end (b) one handled twenty lose.. (1701) of the
<br />o[ princlpel end Interest be..tng due n aueh Fiscal Year to
<br />theS.—owt.nding; or
<br />(1) Men the Revenue in.lode r ce 1pt and s s In
<br />addltl.n to U,Lfo"v Chargee, N t P .c..a In each Fiscal Year
<br />suf!Iclent to pay (a) one hundred percent (IN.) O[ all requtred
<br />depeelte Into the Re.erve Account, and (b) o e hundred ' n[y
<br />P.rcn[ (1101) of rhe "'.or of Pll,ctpal and locate,[ becoetng due
<br />111 nth Fiscal Year an the bonds outetaoding; Pr.tded. hour.
<br />the Registered Ownen of the B.w. All ...eye --ed (roe losses under ray
<br />of such Imuran.., ezcmc pubitc llablllcy, era h.reby pledges by the County as
<br />security
<br />[or eh• Ronde, unttl and wire such proceeds a sed c r ..1, be
<br />les or deneg. for Mch which sup..... d. • tivAd, In .hLM ev.nc therapetrtng
<br />of the property denag.d or the replaeemot of the property destroyed shall be
<br />tms'lld within • ro •
<br />reasonable tiafter the r celp' of ruch OrIca•ds she .hall
<br />......d on • r ...... his end ...tl—c.. beats.
<br />J. NO ten[[ SMVICE. The County will lot
<br />render Or ore to be rendered
<br />any it..u • of any • m of the Syetev, no,will any plat .re.list ret.. be
<br />.stabllahvd for leer. of the save class.
<br />R, MFOKEH M OP COLLECTIMS. The County .Ill diligently enforce and
<br />c.11eet the —.... end any other receipt. and ....... pledged her11nder..ill
<br />take ell steps, .e[lons and pr. s ding. for the n(onmant and lolled.,
<br />M•..of ee the __
<br />shell baro.. delin,m to the full stent paltted or
<br />n[hertced by I..; and .111 sinal, "cunt naw with reap,,. Ment*. 111
<br />vch R..e and other char6ea ensu, • collected, be held In cot co ba
<br />applied a, hent. prevtded •red not othervlee.
<br />L. 0.[NEDI[s. Any Rsgl.tred ower my by at, swot.,, undasus or ,the,
<br />pr,ceedirge In any court of cove` rent jurisdiction, p,urscc red .fort any and
<br />all althea. Including the right v the .Pplint.*nt .f a crcelver, exiting under
<br />the Ire of the State of Florida, end say enforce anJ ..opal the psr[onawa of
<br />Ill
<br />duds. r*q"l,,d hereunder or by any applic.bl• d rule. to be pee(orved by
<br />the cane', or by any Officer a�.r..r.
<br />Nothing h•leln, h..v r, shell be comc.ued to gr.t to any Meglt.r.d
<br />Purer any It..
<br />on any property of or In the Coun'y.
<br />N. OPERATINO BUDGET. On or before the Irl day of each Fiscal Year, the
<br />County .hall adept .n ,noel bud6ec for the III_ [or the e.s,tn. 1,...I Yea.
<br />Mich Mall Include •budget for ..•... to, Expewt. The Oparet Ing Erpnaee,
<br />Incurred In any It...I Year .ill not reed the a2mbl. and the trery avount.
<br />,.q.lnd [neuro, and the c..ty win t e...nd . ,,,y
<br />the Breton rot the .p...tic.. mit•-nca lJ rept" of lheeSyste In enc of
<br />the ret pnI'd,I for the pu,p..a In the annual budget for the thenxc
<br />FlaloYyf e.cepc opo, ..olutlon of aha gold declaring the( such .........
<br />naee.eery rot eeM oyrat`ic. and minemanc• or end .yens. awe
<br />1[ the bud`et dlacl.... that 'he setseted Revenue and other r
<br />fleeal YeereCeipts pled,ed hereunder. If any. will be tneufflelnt duringnnM
<br />F! t torah herein, lh: C u lyfshalthel [orthwlthg[rle• eheor t ,tfsrsaMccAatge•
<br />Iap...d Wth aspect [ the aye[ v Its order to ore ewh . tlmteJ Jef 1c l•cha ens
<br />to (ply Ill. 11'. r • n Thar. hallbeInclulad In the bMg.' as a t
<br />sees'. o[ the to 9 14. for vMen.ld.,Iy •reple.....t sl' the depreciable e.P[,.l
<br />N. CONSULTING FNCINgr1. Th- County 1131 annually retln the Cveeulting
<br />En.ItIrs for Me purt.se ,f pr.vldln6 the County with cost,tant nglne•ting
<br />conal .1tA reepAc, o t1,• econo.lct and .f[Ic ler ,Pastil, If the en'1,•
<br />and AAnr ey.tu of Me Carty and In tonmetion vlth the uklni Of capital
<br />apnveeent thsret. and a rat and rapleceeante tbIT of. Th. County say,
<br />hove *,ploy .ddltlI"'l sngi.eere .t any tlaa with 1.I.1lon to .pacific
<br />.&mala& end .potation problem .rl.ws In c. -action thsre.lth.
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