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4 <br />U <br />Reserve Account therein, a sum sufficient to pay whey► due the <br />entire principal of the Obligations remaining unpaid, together <br />with interest accrued or to accrue thereon, the County covenants <br />with the holders of any and all Obligations as follows: <br />A. SINKING FUND. Promptly after issuance of any of the <br />Obligations the County, in each Fiscal Year, after making all <br />payments required by the resolution which authorized the Prior <br />Lien Obligations, will deposit all of the remaining Race Track. <br />Funds and Jai Alai Fronton Funds and other surplus moneys not <br />needed for said Prior Lien Obligations into a special fund which <br />is hereby created and designated "Indian River County Capital <br />Improvement Revenue Bonds, Series 1981, Sinking Fund" <br />(hereinafter referred to as the "Sinking Fund"). <br />B. DISPOSITION OF RACE TRACK FUNDS. All Race Track <br />Funds and Jai Alai Fronton Funds at any time remaining on deposit <br />in the Sinking Fund shall be disposed of commencing with the <br />Fiscal Year 1980-1981, only in the following manner and in the <br />following order of priority: <br />(1) Moneys on deposit in the Sinking Fund shall first <br />be used to pay all interest becoming due and payable on the <br />Obligations during the current Fiscal Year and the principal <br />amount of Obligations which will become due and payable on the <br />next principal maturity date. <br />(2) Moneys remaining in the Sinking Fund shall next be <br />applied by the County to maintain a Reserve Account in said <br />Sinking Fund, which Reserve Account is hereby created and <br />established, in an amount equal to the maximum amount of prin- <br />cipal and interest which will mature and come due on the <br />Obligations in any ensuing Fiscal Year, which such sum shall be <br />initially provided from the proceeds of the sale of the obliga- <br />tions. No further payments shall be made into such Reserve <br />Account when there has been deposited therein and as long as <br />there shall remain on deposit therein a sum equal to the maximum <br />amount of principal and interest which will mature and come due <br />-15- <br />