1987-143 - Laserfiche WebLink

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• e0 Rebate Account shall be added to and become a part of the Rebate Account. Moneys in the Rebate Account shall only be used to pay the amounts clue to the United State of America under said Section of the Code As the same shall become clue and payable. It is the intent of tills paragraph to provide for payment of all. amounts due under said Section of the Code with respect to tile Series 1986 Notes, in such installments and at such times a.; nay be rtqutred by said Section of the Code. In the event of any amendment r.n the Code or the promulgatlon of regulations under th,e Code.whtch provide or require otherwise than As prnvLded or requLred Ln this paragraph, this paragraph shall be deemed to be amended to incorporate such amendments or regulations, to the extent Applicable, anti any provisions hereof which conflict, wlth the provisions thereof shall be (teemed to he mutt stn([ vold, D. Upon cornple-. Lotl of ;.he prajcct acid payment In full for all Costs of. the Project, all funds rem-t[n[n17 [zz the ConAtruntion Fund ,hall, If tinct to Che extent rcquLred by the Governmv+nt, be applied to the redemption of Sere; I99r, Notes, At par, and, to ti,e extant nor. ao applied, may he 'used by the County for any legally permissible( pqrpose. SEC'rIOti 8, i,ixestraanta_ AIL noney on deposit from time to time Ln the Nous I'Aymr!nt Account shall h,, continuously secured in t:he naunnt' by which d,,poslte of public funds are outhorl.ed to be Aecured by the law; of the Sr.Ate of Florida And may be Inveliced and rel.nvoct(ul only In dLrecr. ohtigatLons of, or obligations the principal of and Interest on whlr'h fire gusrantRRd by, tire United Stn Lea o AmerI1,A raaturinPr, At ntic: it tLnaes as wilt enat,lrn cite timely payment of Intern nt of the "• z'Lns €986 Note.n to accorel,ctre•e w€th their terms. Any incl All income, from such [nvest,arnr..e: *tosEl b deposited In the Construction Fund. All money nn deposLt In the Constructlon Feind from tine to time shall be continuously sar.ured in the nanner by which deposits of public £antis are authorized to be secured by the €Asn of tite State of Florida and may be Invested and reinvested only in those investments specified in Section 125.31, Flor€da Statutes, As amended, rnaturinl; or subject to redemption at. the option of the holder, At: It price no less than the principal amount thereof plus accrued interest thereon, not later than the date on which the proceeds thereof will be needed. Any and all Income received by the County from such investments shall be deposited into the Constructton Fund. SECTION 9. Pledge Q(__.Notes Payment Account. The moneys from time to tirne in the Notes Payment Account (exclusive of the earnings thereon) are hereby pledged as security for and for payment of the Series 1986 Notes, and as long as any of such Series 1986 Notes are Outstanding, such funds shall be applied solely for the payment of interest and redemption premium, if any, on and principal of the Series 1986 Notes, all in accordance with