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• <br /> of the yield on the notes or invested in tax-exempt <br /> obligations. <br /> 10. The proceeds of the notes and any earnings or net <br /> profits derived from the investment or deposit of such proceeds <br /> will not be used in the place of funds now available to the <br /> County and to be used or which will become available to the <br /> County and will be used directly or indirectly to acquire <br /> obligations producing a yield in excess of the yield on the <br /> notes, which funds are not otherwise obligated and could be <br /> applied to the payment of the cost of the Project or the Issuance <br /> Expenses. <br /> 11. For the purpose of this certificate, the yield produced <br /> by any obligations, including the notes, shall be that rate which <br /> when used in computing the present worth, based on annual <br /> computation of interest, of all payments of principal and inter- <br /> est with respect to an obligation produces a present worth amount <br /> equal to the purchase price of the obligation. For purposes of <br /> calculating yield on the notes, the purchase price of the notes <br /> is the price paid by the first buyer of the notes (excluding bond <br /> houses, brokers and other intermediaries) plus accrued interest, <br /> if any. <br /> 12 . No portion of the proceeds of the notes will be used to <br /> 4 ' <br /> replace any proceeds of any other issue of bonds or notes which <br /> were issued by the County for substantially the same purpose as <br /> the, notes but were not expended for such purpose and have been <br /> retired in whole or in part. <br /> 13. The resolution passed on June 15, 1987, by the Board of <br /> Commissioners for the County represents that (i) the County is a <br /> governmental unit with general taxing powers, (ii) the notes are <br /> not private-activity bonds (as defined in the Code) , (iii) 95 <br />