2024-023 - Laserfiche WebLink

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Bonds secured by the Bond Resolution at their respective maturities, (iii) the payment of the redemption of the Series 2024 Bonds secured by the Bond Resolution before maturity at the price and under the conditions provided therefor, (iv) the purchase of the Series 2024 Bonds in the open market and (v) the payment of necessary charges for paying the Series 2024 Bonds and interest thereon. See "Appendix C — Form of Bond Resolution" herein. Proceeds from the sale of the Series 2024 Bonds shall be deposited into the Project Fund to be used to finance the costs of the 2024 Project and pay costs associated with the issuance of the Series 2024 Bonds. The moneys required to be accounted for in each of the foregoing funds and accounts established in the Bond Resolution may be deposited in a single account, and funds allocated to the various funds and accounts established in the Bond Resolution may be invested in a common investment pool, provided that adequate accounting records are maintained to reflect and control the restricted allocation of the moneys on deposit in the Bond Resolution and such investments for the various purposes of such funds and accounts as provided in the Bond Resolution. The designation and establishment of the various funds and accounts in and by the Bond Resolution shall not be construed to require the establishment of any completely independent, self -balancing funds as such term is commonly defined and used in governmental accounting, but rather is intended solely to constitute an earmarking of certain revenues for certain purposes and to establish certain priorities for application of such revenues as provided in the Bond Resolution. No Debt Service Reserve The County has not created any debt service reserve fund or account to secure the repayment of the Series 2024 Bonds. Investments in Funds and Accounts The Bond Resolution provides that moneys on deposit in the Sinking Fund and the Project Fund, may be invested and reinvested in investments permitted by Florida law and the County's internal investment policy (See "INVESTMENT POLICY OF THE COUNTY" herein) maturing not later than the date on which the moneys therein will be needed for the purposes of such fund or account. Any and all income received by the County from the investment of moneys in such funds and accounts shall be retained in such respective funds and accounts. 15