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G. "Bond Registrar" shall mean the Bond Registrar to be <br />determined by subsequent resolution of the Board. <br />H. "Consulting Engineers" shall mean such qualified and <br />recognized consulting engineers, having a nationwide and favorable <br />reputation for skill and experience in the construction and <br />operation of systems such as the System at the time retained by the <br />District to perform the acts and carry out the duties as herein <br />provided for the Consulting Engineers. <br />I. "Cost of Operation and Maintenance" shall mean the <br />current expenses, paid or accrued, of operation, maintenance and <br />repair of the System, as calculated in accordance with sound <br />accounting practices, but shall not include any reserves for <br />renewals and replacements, extraordinary repairs or any allowance <br />for renewals, replacements or depreciation. <br />J. "County" shall mean Indian River County, Florida. <br />K. "District" shall mean Indian River County, Florida <br />Solid Waste Disposal District. <br />L. "Federal Securities" shall mean direct obligations <br />of, or obligations the principal of and interest on which are <br />unconditionally guaranteed by, the United States of America, which <br />are not redeemable prior to maturity at the option of the obligor. <br />M. "Fiscal Year" shall mean the period beginning with <br />and including October 1st of each year and ending with and <br />including the next September 30th. <br />N. "Gross Revenues" shall mean all special assessments, <br />fees, charges and other income, including any income from the <br />investment of funds, unless otherwise provided herein, derived by <br />the District from the operation of the System. <br />O. "Net Revenues" of the System shall mean Gross <br />Revenues after deduction of the Cost of Operation and Maintenance, <br />as defined herein. <br />P. "Paying Agent" shall mean the Paying Agent to be <br />• determined by subsequent resolution of the Board. <br />Q. "Pledged Funds" shall mean the Net Revenues of the <br />System together with any other revenues and funds pledged in <br />connection with the Bonds. <br />R. "Record Date" shall mean the 15th day of the month <br />immediately preceding an interest or other applicable payment date <br />for the Bonds. <br />S. "Registered Owner" or any similar term shall mean <br />2 <br />