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RESOLUTION 95-83 <br />SECTION 4. In accordance with the provisions of Resolution <br />No. 95-75, the County Administrator and the County Attorney deemed <br />the Preliminary Official Statement final as of June 28, 1995. Such <br />action is hereby ratified and confirmed. The Preliminary Official <br />Statement attached -to Resolution No. 95-75 as Exhibit F is hereby <br />ratified and approved. The Chairman of the Board of County <br />Commissioners and the Director of Management and Budget are <br />authorized and directed to execute and deliver an Official <br />Statement in substantially the form of such Preliminary Official <br />Statement, with such changes, insertions and omissions as shall be <br />approved by the Chairman of the Board of County Commissioners and <br />the Director of Management and Budget. <br />SECTION 5. Pursuant to Section 13*of Resolution No. 95-75, <br />AMBAC Indemnity Corporation (the _"AMBAC Indemnity") has been <br />selected as the bond insurer, and, pursuant to the Purchaser's bid, <br />the Purchaser has elected to insure the Bonds. Selection of the <br />AMBAC Indemnity is hereby ratified and confirmed and payment for <br />such insurance is hereby authorized from proceeds of the Bonds in <br />accordance with the Commitment for Municipal Bond Insurance from <br />AMBAC Indemnity attached hereto as Exhibit B, and the terms, <br />conditions and agreements relating to the Issuer set forth in such <br />Commitment for Municipal Bond Insurance are hereby accepted and <br />incorporated herein. A statement of insurance is hereby authorized <br />to be printed on or attached to the Bonds for the benefit and <br />information of the holders of the Bonds. <br />SECTION 6. In addition to the .covenants and agreements of the <br />Issuer previously contained in the Resolution regarding the rights <br />of AMBAC Indemnity which are hereby incorporated herein, the Issuer <br />hereby makes the following additional covenants and agreements for <br />the benefit of AMBAC Indemnity and the Holders of the Bonds while <br />the Bond Insurance Policy insuring the Bonds is in full force and <br />effect: <br />(A) Definitions. <br />"AMBAC Indemnity" shall mean AMBAC Indemnity Corporation, <br />a Wisconsin -domiciled stock insurance company. <br />"Authorized Investments" shall mean for all purposes, <br />including defeasance investments in escrow accounts: <br />(1) Cash (insured at all times by the Federal Deposit <br />Insurance Corporation or otherwise collateralized with <br />obligations described in paragraph (2) below), or <br />(2) Direct obligations of (including obligations issued or <br />held in book entry form on the books of) the Department <br />of the Treasury of the United States of America. <br />"Authorized Investments" shall mean for all purposes <br />other than defeasance investments in refunding escrow <br />accounts: <br />(1) obligations of any of the following federal agencies <br />which obligations represent the full faith and credit of <br />the United States of America, including: Export -Import <br />Bank; Farm Credit System Financial Assistance <br />Corporation; Farmers Home Administration; General <br />Services Administration; U.S. Maritime Administration; <br />Small Business Administration; Government National <br />Mortgage Association (GNMA); U.S. Department of Housing <br />& Urban Development (FHA's); and Federal Housing <br />Administration; <br />JULY 119 1995 <br />47 <br />Boa 95 v,vJ 691 <br />