Laserfiche WebLink
jrbitracre and Tax Covenants. The County covenants in the <br />yn that it will make no use of the proceeds of the Series <br />is which would cause the Series 1989 Bonds to be "arbitrage <br />ithin the meaning of Section 103(b)(2) and Section 148 of <br />nal Revenue Code of 1986, as amended, and it will comply <br />other requirements of applicable provisions of the Internal <br />'ode of 1986, as amended. <br />cation of the Bond Proceeds. All moneys received from the <br />He Series 1989 Bonds shall be deposited and applied by the <br />follows; <br />1;1) All accrued interest on the Series 1989 Bonds shall be <br />.into the Sinking Fund and applied exclusively for the <br />f interest first becoming due on the Series 1989 Bonds. <br />1;2) A sum, if any, specified by subsequent resolution of <br />Sf shall be deposited into the Reserve Account in the <br />land. <br />1;3) The amount necessary to purchase and redeem all of the <br />ng Original Bonds shall be paid to the FmHA. <br />(4) Next, the amount necessary to pay all engineering <br />t:s and expenses of financial reports, studies and <br />tis, legal fees, fees of financial advisors, insurance <br />costs of the issuance of the Series 1989 Bonds, and all <br />alar costs incurred in connection with the retirement of <br />real Bonds and the issuance of the Series 1989 Bonds shall <br />r provided for. <br />r any reason any proceeds of the Series 1989 Bonds are not <br />for or are not applied to the payment of such costs, then <br />;Vrs shall be deposited by the County into the Sinking Fund <br />anly to pay the principal of and interest on the Series <br />ante Account is established wherein amounts sufficient to <br />aLited States of America all amounts due with respect to the <br />819 Bonds under the provisions of Section 148(f) of the <br />kevenue Code of 1986, as amended, or under similar <br />,s of subsequent Federal revenue laws will be transferred <br />funds and accounts created under the Resolution. <br />tments. All moneys in all funds and accounts created by <br />Ytion, including without limitation, the Revenue Fund, the <br />and, the Bond Amortization Account and the Reserve Account, <br />-cured in the manner by which deposits of public funds are <br />1, to be secured by State law and may be invested only in <br />�stments specified in Section 125.31 Florida Statutes (the <br />�d Investments"). Moneys on deposit in the Revenue Fund <br />Inking Fund (except the Reserve Account therein) may be <br />Ind reinvested only in Authorized Investments maturing not <br />I. the date on which the proceeds thereof will be needed. <br />26 <br />