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SECURITY FOR THE SERIES 2024 BONDS General Pursuant to the Bond Resolution, the County has irrevocably pledged its full faith, credit and taxing power for the full and prompt payment of the principal of and interest on the Series 2024 Bonds. The Bond Resolution further provides that there shall be levied a direct annual tax on all taxable property within the County to make such payments. Provision shall be included and made in the County's annual budget and tax levy for the levy of the taxes provided in the Bond Resolution. Whenever the County shall, in any Bond Year, have irrevocably deposited in the Sinking Fund any monies derived from sources other than Ad Valorem Taxes, said Ad Valorem Taxes may be correspondingly diminished; but any such diminution must leave available an amount of such taxes, after allowance for anticipated delinquencies in collection, fully sufficient, with such monies so deposited from other sources, to assure the prompt payment of principal, interest, and redemption premiums, if any, falling due prior to the time that the proceeds of the next annual property tax levy will be available. Such Ad Valorem Taxes shall be levied and collected at the same time, and in the same manner, as other ad valorem taxes of the County are assessed, levied and collected. The Ad Valorem Taxes shall be levied and collected in accordance with all applicable law, including, but not limited to, the Referendum Resolution. The payment of the principal of or Redemption Price, if applicable, and interest on the Series 2024 Bonds shall be secured forthwith equally and ratably by a pledge of and lien upon the Pledged Funds, and the County has, pursuant to the Bond Resolution irrevocably pledged such Pledged Funds to the payment of the Series 2024 Bonds. "Pledged Funds" is defined in the Bond Resolution as (1) the Ad Valorem Taxes, and (2) until applied in accordance with the provisions of the Bond Resolution, all moneys, including investments thereof, in the funds, accounts and subaccounts (other than the Rebate Fund) established under the Bond Resolution. Establishment of Funds and Accounts The monies raised by the County from the levy of Ad Valorem Taxes to pay debt service on the Series 2024 Bonds shall be deposited by the County in the Sinking Fund. The monies in the Sinking Fund allocable to the Series 2024 Bonds shall be used solely for the payment of the principal of and interest on the Series 2024 Bonds as the same become due and payable, and the registered owners of said Series 2024 Bonds shall have a lien on all such monies in the Sinking Fund until paid and applied in the manner provided in the Bond Resolution. Monies in the Sinking Fund allocable to the Series 2024 Bonds shall be disbursed for: (i) the payment of the interest on the Series 2024 Bonds secured by the Bond Resolution as such interest falls due, (ii) the payment of the principal of the Series 2024 14