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SECTION 12. SECURITY FOR OBLIGATIONS. The principal of <br />and interest on the Obligations shall be secured forthwith <br />equally and ratably by a first lien upon and a pledge of all of <br />the portion of Race Track Funds and Jai Alai Fronton Funds <br />accruing annually to the County under the provisions of Chapters <br />550 and 551, Florida Statutes, and allocated to the Board pur- <br />suant to law and the income from the investment of monies held in <br />the various funds and accounts hereinafter established in Section <br />14 hereof. The County hereby irrevocably pledges such funds to <br />the payment of the principal of and interest on the Obligations <br />issued hereunder <br />SECTION 13. OBLIGATIONS NOT DEBT OF' BOARD OR COUNTY. <br />Neither the Obligations nor coupons shall be or constitute <br />general obligations or indebtedness of the Board or of the <br />County within the meaning of any constitutional or statutory <br />.limitation of indebtedness, but shall be payable solely from and <br />secured by a first lien upon and a pledge of that portion of the <br />Race Track Funds and Jai Alai Fronton Funds accruing annually to <br />the County under the provisions of Chapters 550 and 551, Florida <br />Statutes, and allocated to the.Board pursuant to law and the <br />income from the investment of monies held in the various funds <br />and accounts hereinafter established in Section 14 hereof. No <br />holder or holders of any Obligations issued hereunder or of any <br />coupons appertaining thereto shall ever_ have the right to compel <br />the levy of ad valorem taxes to pay the Obligations or interest <br />thereon or for the making of any other payments provided for in <br />this Resolution. <br />SECTION 14. COVENANTS OF THE COUNTY. For as long as <br />any of the principal of and interest on any of the Obligations <br />shall be outstanding and unpaid or until there shall have been <br />set apart in the Bond Service Fund, herein established, including <br />the Bond Amortization Account and the Reserve Account therein, a <br />sum sufficient to pay when due the entire principal of the <br />Obligations remaining unpaid, together with interest accrued or <br />to accrue thereon, the County covenants with the holders of any <br />and all Obligations as follows: <br />A. REVENUE FUND. Promptly after issuance of any of the <br />Obligations the County will deposit all of the Race Track Funds <br />