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rs.. customers added to the System during the teat period; and (C) any amounts owed to the issuer of a Reserve Account Credit Instrument (as defined hereinafter) as a result of a draw thereon, as appropriate, shall be added to the principal and interest payable on Bonds to determine compliance with the foregoing test; 4` (2) A certificate of the chief financial officer of the County stating that the County has established and will maintain a separate accounting of all revenues and expenses in connection with any such independent system or with respect to such Impact Fees, Surcharges, Special Assessments, Franchise Fees, Fees in Lieu of Franchise Fees, or other receipts and revenues to be released, apart from the Pledged Funds; and (3) Written consent of the Bond Insurer, if the 1993 Bond Insurance Policy is then in effect. All or any part of the certificate required under subparagraph (1) above may be rendered by consulting engineers, consultants, or other persons with requisite knowledge and experience who are not reasonably objected to by the Bond Insurer, Pledge of 1989 Special Assessment Revenues Authorization for 1989 SW&ial Assessments: In accordance with Chapter 125, Florida Statutes, the County entered into an Intergovernmental Agreement with the City of Sebastian, Florida (the `City') dated February 3, 1987, for the imposition of special assessments in lieu of impact fees (the "1989 Special Assessments") levied upon certain property, with the consent of the property owners, Pursuant to Ordinance No. 86.88, and Resolution Nos, 87-142, 89-12 and 89-20 of the County and Ordinance No. 0.87.01, and Resolution Nos. R-87-85, R-89-07 and R-89-12 of the City and in accordance with the Intergovernmental Agreement (collectively the "1989 Special Assessment Resolutions") the County authorized the levy of special assessments against certain real property and provided the procedures therefor. Under the 1989 Special Assessment Resolutions, the special assessments were to be used for The expansion of the County sewage system, including the acquisition and construction of The physically independent system known as the "North County Wastewater System." In Fiscal Year 1989, the County issued its Series 1989 Special Assessment Bonds, which are being refunded by these Series 1993 Bonds, The Series 1989 Special Assessment Bonds were issued for the purpose of repairing and constructing a physically independent system known as the "North County Wastewater System.' In connection therewith the 1989 Special Assessments were levied against certain benefitted properties. The amount of the 1989 Special Assessments totaled $6,081,290 of which $1,870,548 were prepaid prior to the issuance of the Series 1989 Special Assessment Bonds. As of September 30, 1992 the scheduled payments, scheduled prepayments received, and delinquent payments were as follows: Scheduled Scheduled Payments Delinquent % of Scheduled payfflt oReceived payment .Ivment )tecelved $1,272,579 $1,076,019 $196,560 84.5% The delinquencies of $196,560 represent less than 16% of the scheduled principal due and the County expects to tolled the remaining amounts through collection procedures provided by law,