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INDIAN RIVER COUNTY, FLORIDA <br />RESOLUTION NO. 2003-075 <br />A RESOLUTION OF THE BOARD OF COUNTY <br />COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA <br />AUTHORIZING THE REFUNDING OF CERTAIN <br />OUTSTANDING RECREATIONAL REVENUE REFUNDING <br />BONDS OF THE COUNTY; AUTHORIZING THE ISSUANCE <br />OF NOT EXCEEDING $7,500,000 RECREATIONAL <br />REVENUE REFUNDING BONDS, SERIES 2003, TO PROVIDE <br />FUNDS FOR SAID REFUNDING; PROVIDING FOR THE <br />RIGHTS OF THE REGISTERED OWNERS OF SAID BONDS; <br />MAKING CERTAIN COVENANTS AND AGREEMENTS IN <br />CONNECTION THEREWITH; AND PROVIDING AN <br />EFFECTIVE DATE. <br />BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF INDIAN <br />RIVER COUNTY, FLORIDA: <br />SECTION 1. AUTHORITY FOR RESOLUTION. This Resolution is adopted pursuant <br />to Chapter 125, Florida Statutes, Ordinance No. 95-16 of the County, as amended, and other <br />applicable provisions of law. <br />SECTION 2. DEFINITIONS. The following terms shall have the following meanings in <br />this Resolution, unless the context otherwise clearly requires: <br />"Act" shall mean Chapter 125, Florida Statutes, Ordinance No. 95-16 of the County, as <br />amended, and other applicable provisions of law. <br />"Additional Parity Bonds" shall mean additional bonds issued in compliance with the <br />terms, conditions and limitations contained herein which have an equal lien on the Pledged <br />Funds, as herein defined, and rank equally in all respects with all other Bonds, issued hereunder <br />as to lien and security for payment. <br />"Authorized Denominations" shall mean $5,000 in principal amount, and any integral <br />multiple of $5,000. <br />"Authorized Investments" shall mean those investments permitted by the County's <br />Investment Policy, as amended from time to time, as such investments for any series of Bonds <br />may be added to or limited pursuant to a subsequent resolution adopted by the Board prior to <br />issuance of such series of Bonds, and such other investments as are approved by the Bond <br />Insurer for the respective series of Bonds, provided that such investments are at the time lawful <br />investments for the funds involved under the laws of the State of Florida, including without <br />