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12-14-98 12:03 FROM- <br />T-783 P.03/12 F-280 <br />~ ARTICLE II <br />~ <br />~ THE CERTIFICATES ~ <br />~ AND THE FINANCING PAYMEN'fS <br />a <br />~ SECTi01~ 201. AUTHORIZATION OF 1998 CERTIFtC4i'ES. <br />b <br />7 (A) EX£CUTION 4ND DELLVERY BY THE TRUSTEE. Th~ Tn1Si:e is hereby authorized and <br />8 direcizd by the County to prepare the 1998 Cenificates in accordance with the provisions of this <br />g Agreemen~ and in the aggregate principal amount of ~22,OOQ,000 eviden~in~ the aggregate principal <br />1o componen~s of the 199$ Financing Payments and each evidencing a~iirecE, fractional undivided <br />t~ interest in the 1998 Financing Payments. With che exception of any Certificates issued as Term <br />t2 Certificates, no- Cer[ificate shall evidence th~ principal componeats of ~he Financing Payments <br />~ 3 coming d.uz on more than one date, Upon the written direccion of ih~ County, the Trustee shall <br />14 exzcute the 1995 Cetzificates and deliver the 1995 Cenificates to the tJndenvrtter pursetar~t to the <br />1~ Certifica~e Purchase Agreement in exchange for the purchase price iherefor as prnvided in the <br />t 6 Cenificate Purchase A~reement. <br />i7 <br />t8 (B} T:~X-EXEMPT OSL1GATlO1VS. The Counry h~re6v exp~~~ssly states that che 1998 <br />t~ Certificates are being issued as Tax-Exempt Obligations with the intent that the int~rest on such <br />?o bonds shail b~ excludable for federai income tax purposes from the gross incomes of the owners <br />? ~ thereof under Sectifln 103 of the Code. <br />~2 <br />~ ~~ <br />~ E~'~1.~#~1TY O~,C~UNTY F',3CiLIT1~~- '~ ~e ~~~znry ~~f~y re~res~n2s ai;c~ ~~F~,~,~:; <br />~ , <br />~ ts~ f~r Fhe b, . , . . <br />' ~rtd ..~~~ft. of th~ ~~~iu~r, t~at ~h~~~oiui~ F~c~IiFi~ ~a be fFU~ed c~ut.o~.th~ p~o~e~~'~~' <br />- <br />. . __.. s. . <br />" ~ . . ; . , :, <br />_ <br />?~ f~e~ 1R98 ~~~~i~~t~s ~are ~ss~tr~.'~aciliu~s.':ne~d~d b~: ~~ Go~urly to.. prc~ps~ly .~Q~.du~t i~s <br />, ... _ . . <br />'6 ~OY~FII[T1~it~~ fl~3~Fi~I'1S. <br />'7 <br />2S SECTION 202. 1998 FIIVANCINC P~YI~IENTS; INTEREST RaTES AVD M:~TURITY DATES. <br />~q <br />~a (A) 1995 Fi~I.aIVCING PAYMENT'S. For and in consideration of: <br />31 <br />3' . { 1) the execution and delivery by the Trustee of the 1995 Cenificaies and any <br />33 Addicional C~rtifica[es ~hat may hereafter be issued; <br />34 <br />~5 (2) the purehsse of the 1998 Certificatzs by the Underwri~er and the purchase of any <br />~b ~dditional Certificates by the purchaser(s) thereof; and <br />37~ <br />~8 (3) ihe application of the proceeds derived from ihe sale of the Cer~ificates in the <br />39 manner hereinafrer provided in this Agreement; <br />~o <br />~- the Cotinty hereby covenants and a~re~s to pay ~o the Trustee (for remittance to the Owners of the <br />-~2 Certifica[es as provided herein) ihe Financing Payments in the amounr~ and at the times set fonh <br />FIK.~a?VCINC ANfl TRUST AGREEMENT PacE 3 <br />