1985-062 - Laserfiche WebLink

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40 • •• deficiency. However, this provision shall not be construed in a manner to create a lien upon or pledge of any of such Non Ad Valorem Funds or prevent the County from hereafter pledging any portion of such Non Ad Valorem Funds. Money in the Construction Fund shall be secured by the depository bank in the manner prescribed by law relating to the securing of public funds. The money on deposit in the Construction Fund may be invested and reinvested only in cer- tificates of deposit or the Florida Gold account, issued or maintained, as the case may be, by the Bank, which shall mature or be subject to redemption on or prior to the date on which money shall be needed therefrom. The earnings from any such investments shall be deposited into the Construction Fund. Any money remaining in the Construction Fund after all. costs of the Project have been paid shall be used by the County for any lawful purpose. All money deposited in the Construction Fund shall be and constitute a trust fund created for the purposes stated herein, and there is hereby created a lien upon such Fund in favor of the Registered Owners until the money therein has been applied in accordance with this resolution." D. Section 18 of the Resolution is hereby amended to read as follows: "SECTION 18. DEFEASANCE. If at any time the County shall have paid, or shall have made provision for payment of., the principal, interest and redemption premiums, if any, with respect to the Bonds, then, and in that event, the pledge of and lien on the Assessments in favor of the Registered Owners shall be no longer in effect. For purposes of the preceding sentence, depo- sit of Federal Securities or bank certificates of deposit fully r,ecured as to principal and interest by Federal Securities (or deposit of any other securities or investments which may be authorized by law from time to time and sufficient under such law -9-