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<br />Fiscal Year, amounts sufficient to pay the principal and interest due on the Bonds in accordance
<br />with its terms during such Fiscal Year. "Non-Ad Valore!llRevenues" means all revenues of the
<br />City derived from any source other than ad valorem taxation on real or personal property which
<br />the City derived from any source other than ad valorem taxation en real or personal property
<br />which are legally available to make the payments required ul}der the Loan Agreement; but only
<br />after provision has been made by the City for the payment of all essential or legally mandated
<br />services. Such c,ovenant and agreement on the part df the City to budget and appropriate such
<br />amounts of Non-Aq Valorem Revenues shall be cumulative to the exten.t not paid~ and shall
<br />continue until SU9hiNon-Ad Valorem Revenues or other legally avalIable funds in amounts
<br />sufficient to make ,'1-11 such, required payments shall have been budgeted, appropriated and
<br />actually paid. Notwithstanding the foregoing covenant of the City, the City does not covenant to
<br />maintain any services or programs, nbw provided. or maintained, by, tp.e City, which generate
<br />N9n-Ad Valorem Revenues. .
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<br />Sucn covenant to budget and appropriate do'es,not create any lien upon Qr pledge of such
<br />Non-Ad Valorem Revenues, nor do~s it prec1upe the City from pledging in the ,future its Non-Ad
<br />Valorem Revenues, nor does it require the City Jo levy and collect' any p.,articular Nqh-Ad
<br />Valorem Revenues, nor does it give the Bond Holders a prior claim on the. Non-Ad Valorem
<br />· Revenues as opposed to claims of general creditors of the City. Such covenant to appropriate
<br />Non-Ad Valorem Revenues is subject inStIl respects to the payment of obligations secured by a
<br />pledge of such Non-Ad Valorem Revenues heretofore or ,hiieqfter entered'into (including the
<br />payment of debt service on bonds and other debt instruments). However, the covenant to budget
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<br />and appropriate in its general' annual budget for the purposes and in tl1e ,manner stated in the
<br />Loan Agreement shall have the effect of making available in the IT,lannerdescribed herein~N9n-
<br />Ad Valorem Revenues and placing on ,the City a pqsitive duty to appropriate and budget, by
<br />amendment, if necessary, ?ffiollnts !?ufficient -to meehtsfobligatio~s under the Loan Agreement,
<br />t " t ~ - " ~ ,
<br />subject, however, in all.respects 1.0 the teqn's of the Loan .Agreement; and: subject, further, to' the
<br />payment, of serVices aI].d prograIl}s wh,ich' ar~ for essential public purposes af{ecting the health,
<br />welfare and safety ofthe inh'abi~ahts ofth,e City or wpich ~re lrgally man~a,ted by applicable law. '
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<br />Reference is herel?Y made to the Loan Agreerv-ent.for the .provlsions, aI110ilg others,
<br />relating to the terms, lien and security ,of<th~ Bonds, tD:'e custody arid application of the proceeds
<br />· of the Bongs, ,the rights an91~re~edies of th~ Hqld~r. ofdhe Bo~Cls'j ~ndi"t1ie exteriCof and
<br />limitatiopJ on the City's'rightst duties arid ,obligations, to all of which 'provisio~s the 'Holder
<br />. _ __" . ..' " I to -- -' t ~ :--, - t.." ;:: ,.
<br />hereof for ,himself a:qd his succ~;s~rs in interest asse~t(by ,a,~c~ptance:,<?\ ~his ~onsl. o'.!
<br />
<br />, " . ; t. ~ t... ,...~: . t.-" ~ : " iff "..... ! .. ~_ ........ _.
<br />THIS BOND SHALL NOT BE/DEEMED TO CONSTITUTE. A GENERAL DEBT OR
<br />""it ," ~ -- ~....p. tJ ,;I! _ r.'~ \... .
<br />KcPLEDGE OF THE FAITH.,~_.C~D,I::r QJ; THE 'CITY, OR A BEBT OR.-,PLEDGE,gF
<br />TH~ FAITH AND c:REDI~ O~ THE SfA1~ OF F~ORIDA OR, ~ PQPJICAB
<br />SUBDIVISION THEREOF _WITHIN THE ME~NING OF ANY' CONSTITUTION1\L;,
<br />~ _ ,~, '~,_.... L I, ,_i t.. __, '!: _ ," ~. .
<br />:r"EGISL~,TIVE OR' CHARTER PROVISION'OR I:.IMITNfION, l\NB IT IS 'EXPRESSLY
<br />.- .; f c. ~, -,~~.' ? _ 4 c' _ t _ ~ r _' ~" __ ~
<br />AGREED BY THE HOLDER OF THIS -BOND THAT. SUCH HOLDER SHALL NEVER
<br />t ' ~ :l ;I., .<;.. . :; . ". i ..,... t
<br />HA ViE THE RIGHT, DIRE'crL Y ORl INDIREGTLY, TO REQUIRE OR COMPEL THE
<br />EXERCISE OF THE.AD VALOREM ~TAXING POWER OF THE CI.':fY OR ANY OTHER
<br />"J _ _ ' [ .. .. j ... _ '. , ~.., ' ,..._
<br />Pc;>qTICAL SUBDNISI.oN 9r,!,H,E STA,T~~OF ItLOJ,UD1\ OR TAX1}TlO~ ~iANYFO~,
<br />ON ANY REAL :OR PERS0NAL PROPERTY FOR THE'P A YMENTOF THE PRINCIPAL
<br />1.!!I ' If ~ t J. '. I - 1: ..
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