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limitation Section 218, Part IV, Florida Statutes. "Board" shall mean the Board of County Commissioners of Indian River County, Florida. "Bond Insurance Policy" shall mean the municipal bond insurance policy issued by a Bond Insurer insuring the payment when due of the principal of and interest on a series of Bonds. "Bonds" shall mean the Series 2003 Bonds together with any Additional Parity Bonds hereafter issued hereunder. "Bond Insurer" shall mean the municipal bond insurer designated by subsequent resolution of the county, to issue a Bond Insurance Policy for a series of Bonds. "Bond Registrar" shall mean with respect to any particular series of Bonds issued hereunder the bond registrar for said series of Bonds to be determined by subsequent resolution of the Board, which shall be a bank with trust powers or a trust company. "Code" shall mean the Internal Revenue Code of 1986, as amended, and any similar subsequent federal revenue laws. Any reference to a particular section, subsection, etc., of the Code shall also refer to the similar section, subsection, etc., of any similar subsequent federal revenue law. "County" shall mean Indian River County, Florida, a political subdivision of the State of Florida. "Federal Securities" shall mean direct obligations of the United States of America, which are not redeemable prior to maturity at the option of the obligor, including without limitation such obligations issued or held in book entry form on the books of the United States of America. "Fiscal Year" shall mean the period beginning with and including October first of each year and ending with and including the next September 30. "Gross Revenues" shall mean all income and earnings derived from the operation of the Recreational Facilities; and any income from the investment of money in the funds and accounts herein established for the payment of the principal of, interest and premium, if any, on the Bonds. "Half -Cent Sales Tax" shall mean the portion of the proceeds of the local government half -cent sales tax on deposit from time to time in the Local Government Half -Cent Sales Tax Clearing Trust Fund in the State Treasury of the State of Florida, allocated for and as distributed monthly to the County pursuant to Chapter 218, Part VI, Florida Statutes. "Interest Payment Date" shall mean the first day of March and September, commencing on March 1, 2004 with respect to the Series 2003 Bonds. "Net Revenues" shall mean the Gross Revenues less Operating Expenses. 2