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BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF INDIAN <br />RIVER COUNTY, FLORIDA: <br />SECTION 1. AUTHORITY FOR THIS RESOLUTION. This resolution is adopted <br />pursuant to Chapter 125, Florida Statutes, Ordinance No. 95-16 and other applicable <br />provisions of law. <br />SECTION 2. DEFINITIONS. Unless otherwise defined herein or the context <br />otherwise requires, the terms defined in Resolution No. 93-80 adopted by the County on <br />April 13, 1993, as supplemented (the "Original Resolution") shall have the same meanings <br />when used herein. <br />"Revenues" shall have the meaning assigned thereto in the Original Resolution, <br />except that with respect to the Series 2005 Bonds, it shall also include the Series 1996 Special <br />Assessment Revenues. <br />"Series 1993 Bonds" shall mean, collectively, the County's Water and Sewer <br />Revenue Bonds, Series 1993A, issued in the original principal amount of $47,190,000. <br />"Series 1996 Bonds" shall mean the County's Water 'and Sewer Revenue Bonds, <br />Series 1996, issued in the original principal amount of $38,900,000. . <br />"Series 1996 Special Assessment Revenues" shall mean the special assessments now <br />or hereafter levied by the County in connection with a portion of the Series 1996 Projects, <br />and the interest, prepayment charges and penalties received by the County in connection <br />therewith. <br />"Series 2005 Bonds" shall mean the County's Water and Sewer Revenue Refunding <br />Bonds, Series 2005, issued pursuant to this Resolution as Additional Parity Bonds under the <br />Original Resolution. <br />SECTION 3. FINDINGS. It is hereby ascertained, determined and declared that: <br />(A) The County now owns, operates and maintains the System and will continue to <br />derive revenue from the rates, fees, rentals and other charges made and collected for the <br />service of such System, which Revenues and the other revenues pledged pursuant to the <br />provisions of the Original Resolution are not now pledged or encumbered in any manner, <br />except for the payment of the Series 1993 Bonds and the Series 1996 Bonds. <br />(B) The principal of and interest and redemption premium, if any, on the Series <br />2005 Bonds, the nonrefunded portion of the Series 1996 Bonds, the Series 1993 Bonds and <br />all reserve and other payments shall be payable solely from the Pledged Funds as provided <br />herein and in the Original Resolution. The County shall never be required to levy ad <br />