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owner of any Bond or Bonds or his Kransferee. <br />L. "Senior Lien Bonds" shall mean the not-- exceeding <br />$5,700,000 Capital Improvement Revenue Bonds, Series 1984, issued <br />pursuant to the Senior Lien Resolution, whether issued prior to <br />or currently with, the issuance of the Bonds, the lien of which <br />on the Pledged Funds, as herein defined, shall be senior and <br />superior in all respects to that of the Bonds issued hereunder. <br />M. "Senior Lien Resolution" shall mean the resolution <br />of the County authorizing the issuance of the Senior Lien Bonds. <br />N. "Race Track Funds" shall mean the first $446,500 of <br />the Race Track Funds and Jai Alai Fronton Funds accruing annually <br />to the County under the provisions of Chapters 550 and 551, <br />Florida Statutes, and allocated to the Board pursuant to law. <br />O. "Senior Lien Resolution Investment Income" shall <br />mean the income from the investment of monies in the funds and <br />accounts established in Section 18 of the Senior Lien Resolution <br />and deposited into the Revenue Fund created by Section 18A of the <br />Senior Lien Resolution. <br />P. "Pledged Revenues" shall mean the Race Track Funds <br />and the Senior Lien Resolution Investment Income. <br />Q. "Authorized Investments" shall mean any of the <br />following if and to the extent the same are at the time legal for <br />investment of municipal funds; (a) direct obligations of or obli- <br />gations guaranteed by the United States; (b) bonds, debentures or <br />notes issued by any of the following federal agencies: Bank for <br />Cooperatives; Federal Intermediate Credit Banks; Federal Home <br />Loan Bank System Export -Import Bank of Washington; Federal Land <br />Banks; or the Federal National Mortgage Association (including <br />Participation Certificates); (c) Public Housing Bonds, Temporary <br />Notes, or Preliminary Loan Notes fully secured by contracts with <br />the United States; (d) full faith and credit obligations of any <br />State, provided that at the time of purchase such obligations <br />are rated in either of the two highest rating categories by two <br />nationally recognized bond rating agencies; (e) corporate deben- <br />-3- <br />MAY 2 3 1984 Boos 57 PacE 196 <br />