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I <br />JUL -111994 Boox ,7 HCE6? <br />RESOLUTION NO. 84-48 <br />RESOLUTION AUTHORIZING THE ISSUANCE OF NOT <br />EXCEEDING $2,050,000 IMPROVEMENT BONDS, <br />SERIES NO. ONE, OF INDIAN RIVER COUNTY, <br />FLORIDA, TO FINANCE THE COST OF THE ACQUI- <br />SITION AND CONSTRUCTION OF CERTAIN WATER <br />DISTRIBUTION IMPROVEMENTS TO THE COMBINED <br />WATER AND SEWER SYSTEM OF THE COUNTY; <br />PROVIDING FOR THE RIGHTS OF THE HOLDERS <br />THEREOF AND PLEDGING FOR THE PAYMENT <br />THEREOF THE PROCEEDS FROM SPECIAL ASSESS- <br />MENTS LEVIED AGAINST PROPERTY SPECIALLY <br />BENEFITED BY SUCH IMPROVEMENTS; AND PRO- <br />VIDING AN EFFECTIVE DATE. <br />BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF <br />INDIAN RIVER COUNTY, FLORIDA, that: <br />SECTION 1. AUTHORITY FOR THIS RESOLUTION. This resolu- <br />tion is adopted pursuant to Ordinance No. 83-46 of the County, <br />applicable provisions of Chapter 170, Florida Statutes (1983), <br />and other applicable provisions of law. <br />SECTION 2. DEFINITIONS. The following terms shall have <br />the following meanings in this resolution unless the text other- <br />wise expressly requires: <br />A. "Act" shall mean, collectively, Ordinance No. 83-46 <br />of the County, applicable provisions of Chapter 170, Florida <br />Statutes (1983), and other applicable provisions of law. <br />B. ""Assessments" shall mean, collectively, the proceeds <br />derived from the levy and collection of special assessments <br />against the property specially benefited by the acquisition and <br />construction of the Project, including the interest and penalties <br />on such special assessments. <br />C. "Board" shall mean the Board of County Commissioners <br />of the County. <br />D. "Bonds" shall mean the $2,050,000 Improvement Bonds, <br />Series No. One, authorized and issued pursuant to this <br />resolution, whether in certificate or book -entry form. <br />E. "Bond Registrar" shall mean Florida National Bank, <br />Jacksonville, Florida. <br />F. <br />"County" <br />shall mean Indian River County, <br />Florida. <br />G. <br />"Federal <br />Securities" shall mean direct <br />obligations <br />-1- <br />