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~ ARTICLE II '- THE CERTIFICATES ~ AND THE FINANCING PAYMENTS 4 ~ SECTION 201. AUTHORIZATION OF 199g CERTIFICATES. 6 7 (,4) E\EC11T10N .AND DELIVERY Bl' THE TRUSTEE. The Tnistee is hereby authorized and 8 directed by the County to prepare the 1998 Certificates in accordance with the provisions of this 9 Ab~reement and in the agbnegate principal amount of $2~,000,000 evidencing the aggregate principal 1 o components of the 1998 Financing Payments and each evidencing a direct, fractional undivided >> interest in the l 998 Financing Payments. With the exception of any Certificates issued as Term ~2 Certificates, no Certificate shall evidence the principal components of the Financing Payments 1~ coming due on more than one date. Upon the written direction of the County, the Tnistee shall 14 execute the 1998 Certificates and deliver the 1998 Certificates to the Underwriter pursuant to the I5 Certificate Purchase Agreement in exchange for the purchase price therefor as provided in the l6 Certificate Purchase Agreement. -7 ~g (B) TAX-EaEMPT OBLIGATIONS. The County hereby expressly states that the 1998 l9 Certificates are being issued as Tax-Exempt Obligations with the intent that the interest on such 2o bonds shall be excludable for federal income tax purposes from the gross incomes of the owners 2 ~ thereof under Section 103 of the Code. ~~ ~~ SECTION 202. 199H FINANCING PAYMENTS; INTEREST RATES AND MATURITI' DATES. ~~ ?~ (A) 199$ FINANCING PAYMENTS. For and in consideration of: 26 ?7 (1) the execution and delivery by the Trustee of the 1998 Certificates and any ?8 Additional Certificates that may hereafter be issued; 29 ~~ (2) the purchase of the 1998 Certificates by the Underwriter and the purchase of any 3l Additional Certificates by the purchaser(s) thereof; and 32 >; (3) the application of the proceeds derived from the sale of the Certificates in the 3a manner hereinafter provided in this Agreement; 35 36 the County hereby covenants and agrees to pay to the Trustee (for remittance to the Owners of the 37 Certificates as provided herein) the Financing Payments in the amounts and at the times set forth 3s herein (with respect to the 1998 Certificates) or in each Supplemental Agreement (with respect to 3~ the series of Additional Certificates executed and delivered under such Supplemental Agreement), ~to but subject, however, to the limitations set forth in Sections 202(B) and (C) below. ~~ FINAtiCING AND TRUST AGREEMENT P.acE 3