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SECTION 18. APPLICATION OF SERIES 1993 BOND PROCEEDS. All moneys received from the sale of the Series 1993 Bonds shall be deposited and applied by the County as follows: A. All accrued interest shall be deposited into the Series 1993 Sinking Fund and applied exclusively for the payment of interest first becoming due on the Series 1993 Bonds. B. A sum, if any, specified by subsequent resolution of the Board shall be deposited into the Series 1993 Reserve Account in the Sinking Fund. C. An amount to be specified by subsequent resolution of the Board shall be applied in connection with the retirement of Retired Bonds as specified by subsequent resolution of the Board. D. The amount necessary to pay all costs and expenses associated with financial reports, studies and projections, legal fees, accountant's fees, fees of financial advisors, printing expenses, premiums and expenses related to insuring or rating the Series 1993 Bonds and all other similar costs and expenses incurred in connection with the issuance of the Series 1993 Bonds and the retirement of the Retired Bonds shall be paid or provided for. E. The balance remaining, 1f any, after making all the deposits and payments provided for above shall be deposited into the Series 1993 Sinking Fund and used only for the purpose of paying the principal of and interest on the Series 1993 Bonds which first become payable. SECTION 19. REBATE. Anything to the contrary contained herein notwithstanding, the County shall from time to time transfer into the "Series 1993 Rebate Account" which is hereby created and established amounts sufficient to pay to the United States of America all amounts due with respect to the Series 1993 Bonds under the provisions of Section 148 (f) of the Code. The earnings on the Series 1993 Rebate Account shall be added to and become a part of the 1993 Rebate Account. Moneys in the Series 1993 Rebate Account shall only be used to pay the amounts due to the United States of America under said Section of the Code with respect to the Series 1993 Bonds as the same shall become due and payable; provided, however, if the County shall determine that the amounts in the Series 1993 Rebate Account are in excess of the amounts sufficient for such payments, the County may transfer such excess to the Revenue Fund. It is the intent of this paragraph to provide for payment of all amounts due under said Section of the Code with respect to the Series 1993 Bonds, in such installments and at such times as may be required by said Section of the Code. In the event of any amendment to the Code or the promulgation of regulations under the Code which provide or require otherwise than as provided or required in this paragraph, this paragraph shall be deemed to be amended to incorporate such amendments or regulations, to the extent applicable, and any provisions hereof which conflict with the provisions thereof shall. be deemed to be null and void. SECTION 20. SALE OF THE SERIES 1993 BONDS. The Series 1993 Bonds may be sold at public or private sale pursuant to the Act, all at one time or from time to time, as shall be provided by subsequent resolution of the Board. SECTION 21. ADDITIONAL COVENANTS RELATING TO THE SERIES 1993 BOND INSURANCE POLICY. So long as the Series 1993 Bond Insurance Policy is in effect and the Series 1993 Bond Insurer is not in default under the Series 1993 Bond 26