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SECTION 1. This County shall provide for retirement of the <br />1977 Bonds by depositing to the Sinking Fund created for the 1977 Bonds, <br />from funds of the County presently on hand which have been derived from <br />operation of the County Solid Waste Disposal System, an amount sufficient, <br />together with funds, if any, already on deposit in the Sinking Fund, <br />including such "Reserve Account", and together with the interest to be <br />earned thereon when invested as provided in the Escrow Agreement <br />hereinafter mentioned and approved, to provide for timely payment of the <br />principal of the 1977 Bonds presently remaining unpaid, together with the <br />interest accrued or to accrue thereon, in the manner and at the times <br />provided in such Escrow Agreement. <br />SECTION 2. This County shall enter into an Escrow Agreement <br />to be dated for convenience as of June 1, 1988 (the "Escrow Agreement"), <br />substantially in the form referred to in Section 3 of this Resolution, <br />with Florida National Bank, St. Petersburg, Florida (the "Escrow Agent"), <br />under terms and provisions of which the Escrow Agent shall hold, invest <br />and apply money deposited in or on deposit in the Sinking Fund, as <br />provided in Section 1, for the payment and retirement of the 1977 Bonds. <br />SECTION 3. The Escrow Agreement shall be substantially in <br />the form that is attached to this Resolution, together with such <br />additions, deletions and changes thereto as the officer or officers of <br />this Board of County Commissioners executing the same on behalf of this <br />County may approve, the execution of the Escrow Agreement by such officer <br />or officers, as the case may be, to constitute conclusive evidence of <br />approval thereof. <br />- 4 - <br />