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4 <br /> "Bonds" shall mean the Issuer's Revenue Bonds (Spring Training Facility), Series 2001, <br /> permitted to be issued hereunder in accordance with the provisions hereof. <br /> "Bond Insurer" shall mean Financial Guaranty Insurance Company, a New York stock <br /> insurance company, or any successor thereto. <br /> "Bond Insurance Policy" shall mean the municipal bond new issue insurance policy issued by <br /> the Bond Insurer insuring the payment of principal of and interest on the Bonds. <br /> "Bond Service Requirement" shall mean, for any Fiscal Year, at any time, the amount required <br /> to be deposited in such Fiscal Year into the Debt Service Fund, as provided herein or a similar fund <br /> with respect to any Additional Parity Bonds. In calculating such amount, the Issuer shall subtract <br /> therefrom any amounts to be transferred from a construction fund or a similar fund for the purpose <br /> of paying interest on the Bonds and any Additional Parity Bonds. With respect to Variable Rate <br /> Bonds, if any, the interest rate used to calculate the Bond Service Requirement shall be assumed to <br /> be the highest variable rate borne over the preceding twenty-four (24) months by Outstanding <br /> Variable Rate Bonds issued under this Resolution or as Additional Parity Bonds or, if no such <br /> Variable Rate Bonds are at the time Outstanding, by variable rate debt for which the interest rate is <br /> computed by reference to an index comparable to that to be utilized in determining the interest rate <br /> for the debt then proposed to be issued. If Additional Parity Bonds are Option Bonds, the date or <br /> dates of tender shall be disregarded, unless actually tendered and not remarketed, and the stated <br /> maturity dates thereof shall be used for purposes of this calculation, if such Option Bonds are required <br /> to be paid from Local Government Half-Cent Sale Tax hereunder on such date of maturity. <br /> "Bond Year" shall mean the period commencing on April 1 st (provided the first Bond Year <br /> shall commence on the date of issuance of the Bonds)and ending on the following March 3?of each <br /> year. <br /> "Capital Appreciation Bonds" shall mean the aggregate principal amount of the Additional <br /> Parity Bonds that bear interest payable solely at maturity or upon redemption prior to maturity in the <br /> amounts determined by reference to the Compounded Amounts, all as shall be determined by <br /> subsequent resolution of the Issuer. In the case of Capital Appreciation Bonds that are convertible <br /> to Current Interest Bonds with interest payable prior to maturity or redemption of such Additional <br /> Parity Bonds, such Additional Parity Bonds shall be considered Capital Appreciation Bonds only <br /> during the period of time prior to such conversion. <br /> "Capital Appreciation Income Bonds" shall mean those Additional Parity Bonds initially <br /> issued as Capital Appreciation Bonds and which become Current Interest Bonds when the original <br /> issue amount and the Compounded Amount equals $5,000 principal amount or an integral multiple <br /> thereof as determined by subsequent resolution of the Issuer. <br /> "Chairman" shall mean the Chairman of the Board of County Commissioners of Indian River <br /> County, Florida. <br /> 2 <br />