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RESOLUTION NO. 79-1 <br />RESOLUTION PROVIDING FOR THE ACQUISITION, <br />CONSTRUCTION AND ERECTION OF EXTENSIONS <br />AND IMPROVEMENTS TO THE WATER AND SEWER <br />SYSTEM OF INDIAN RIVER COUNTY, FLORIDA; <br />AUTHORIZING THE ISSUANCE BY THE COUNTY OF <br />NOT EXCEEDING $236,000 WATER AND SEWER <br />REVENUE BONDS, SECOND SERIES 1979, TO <br />FINANCE A PART OF THE COST THEREOF; <br />PLEDGING THE GROSS REVENUES OF SAID <br />SYSTEM, TO SECURE PAYMENT OF THE PRINCIPAL. <br />OF AND INTEREST ON THE BONDS; AND <br />PROVIDING FOR THE RIGHTS OF THE HOLDERS OF <br />THE BONDS. <br />BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF <br />INDIAN RIVER COUNTY, FLORIDA, as follows: <br />ARTICLE I <br />GENERAL <br />1.01 Definitions. When used in this Instrument, the <br />following terms shall have the following meanings, unless the text <br />clearly otherwise requires: <br />"Bonds" shall mean the obligations of'the Issuer <br />authorized to be issued pursuant to Section 2.01 of this <br />Instrument and shall be deemed to include also any obligations <br />issued hereafter by the Issuer pursuant to the provisions of <br />Section 3.04 (H) of the Original Instrument. <br />"Chairman" shall- mean the Chairman of the Board of <br />' County.Commissioners of the Issuer. <br />"Clerk" shall mean the Clerk of the Circuit Court of <br />Indian River County, ex officio - Clerk of the Board of County <br />Commissioners of the Issuer. <br />"Construction Account" shall mean the account or accounts <br />created pursuant to Section 3.03 of this Instrument for the purpose <br />�t of receiving bond proceeds and other funds to pay the Cost of the <br />Project. <br />"Cost," when used in connection with the Project, shall <br />mean all expenses necessary, appurtenant or incidental to the <br />acquisition and construction of the Project, including without <br />