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(b) The amount of Sales Tax <br />received by the County during the prior <br />Fiscal Year or any twelve (12) consecutive <br />months of the eighteen (18) months <br />immediately preceding the date of sale of <br />the Additional Parity Obligations; and <br />(c) The Sales Tax receipts for the <br />period identified in (b) are equal to at <br />least 1.35 times the Maximum Debt Service <br />Requirement on all Bonds and Additional <br />Parity Obligations then outstanding plus <br />the Additional Parity Obligations for which <br />the Certificate is being made. <br />(2) A series of Bonds or a portion of a series <br />of Bonds may be refunded with the proceeds from the sale <br />of Additional Parity Obligations without complying with <br />the 1(c) coverage test if the Accountant will certify <br />that the Debt Service Requirement in each Fiscal Year <br />after the refunding does not exceed the Debt Service <br />Requirement in each Fiscal Year before the refunding. <br />However, no Additional Parity Obligations which bear a <br />variable rate of interest shall be issued without the <br />prior consent of the Municipal Bond Insurer. <br />(3) Each resolution authorizing the issuance of <br />Additional Parity Obligations will recite that all of <br />the covenants contained in the Master Bond Resolution <br />will be applicable to such Additional Parity <br />Obligations. <br />(4) The County shall not be in default in <br />performing any of its covenants and obligations under <br />the Master Bond Resolution. <br />(5) No Designated Maturity Bonds will be issued <br />as Additional Parity Obligations as long as Bonds <br />insured by a Municipal Bond Insurer remain outstanding <br />unless: <br />(a) The Municipal Bond Insurer <br />consents, which consent will not be <br />unreasonably withheld; or <br />(b) The County covenants to <br />establish a credit facility which insures <br />C-10 <br />