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Government Half -cent Sales Tax Clearing Trust Fund allocated for and distributed <br />monthly to the County pursuant to Chapter 218, Part VI, Florida Statutes, and any <br />allowable investment income thereon. <br />"Serial Bonds" shall mean the Bonds of a series which shall be stated <br />to mature in semiannual or annual installments. <br />"Term Bonds" shall mean the Bonds of a series which shall be stated <br />to mature on one date and which shall be subject to mandatory redemption. <br />Resolution to Constitute Contract. In consideration of the <br />acceptance of the Bonds authorized to be issued under the Master Bond Resolution <br />by those who shall hold the same from time to time, the Master Bond Resolution <br />shall be deemed to be and shall constitute a contract between the County and such <br />holders and, so long as any of the outstanding Bonds are insured by it or held <br />by it as subrogee of such holders following payment on a municipal bond insurance <br />policy, the Municipal Bond Insurer, if any. The covenants and agreements set <br />forth in the Master Bond Resolution to be performed by the County shall be for <br />the equal benefit, protection and security of the legal holders of any and all <br />of such Bonds, all of which shall be of equal rank and without preference, <br />priority or distinction of any of the Bonds over any other thereof, except as <br />expressly provided in the Bonds or in the Master Bond Resolution. <br />Special Obligations of the County. The principal of and interest on <br />the Bonds and all required sinking fund, reserve and other payments shall be <br />payable solely from the Sales Tax to be received by the County as provided in the <br />Master Bond Resolution. No holder or holders of any Bonds shall ever have the <br />right to require or compel the exercise of the ad valorem taxing power of the <br />C-3 <br />