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r- - <br />J U L 17 1985 <br />BOOK 61 r,p;r 555 <br />RESOLUTION NO. 85-78 <br />A RESOLUTION PROVIDING FOR THE CONSTRUCTION <br />AND EQUIPMENT OF A PUBLIC GOLF COURSE IN <br />INDIAN RIVER COUNTY, FLORIDA; AUTHORIZING THE <br />ISSUANCE OF NOT EXCEEDING $4,200,000 . <br />RECREATIONAL REVENUE BONDS, SERIES 1985, TO <br />FINANCE THE COST THEREOF; AND PROVIDING FOR <br />THE PAYMENT OF THE PRINCIPAL OF AND INTEREST <br />ON SUCH BONDS FROM THE NET REVENUES TO BE <br />DERIVED FROM THE OPERATION OF THE GOLF COURSE, <br />THE RACETRACK FUNDS AND JAI ALAI FRONTON FUNDS <br />ACCRUING ANNUALLY TO INDIAN RIVER COUNTY, <br />FLORIDA, PURSUANT TO LAW, AND CERTAIN <br />INVESTMENT INCOME. <br />BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF <br />INDIAN RIVER COUNTY, FLORIDA (the "Board"), that: <br />SECTION 1. AUTHORITY FOR RESOLUTION. This resolution <br />is adopted. pursuant to the provisions of Chapter 125, Florida <br />Statutes, Indian River County Ordinance No. 77-19, duly enacted <br />by the Board on August 3, 1977, as amended, and other applicable <br />provisions of law. <br />SECTION 2. DEFINITIONS. The following terms shall have <br />the following meanings herein, unless the text otherwise <br />expressly requires. Words importing singular number shall <br />include the plural number in each case and vice versa, and words <br />importing persons shall include firms and corporations. <br />A. "Act" shall mean Chapter 125, Florida Statutes, <br />Indian River County Ordinance No. 77-19, duly enacted by the <br />Board on August 3, 1977, as amended, and other applicable provi- <br />sions of law. <br />B. "Additional Parity Obligations" shall mean addi- <br />tional obligations issued in compliance with the terms, conditions <br />and limitations contained in this resolution and which shall have <br />an equal lien on the Pledged Funds. <br />C. "Amortization Installment," with respect to any Term <br />Bonds of a series, shall mean an amount or amounts so designated <br />which is or are established for the Term Bonds of such series, <br />provided that the aggregate of such Amortization Installments for <br />each maturity of Term Bonds of such series shall equal the aggre- <br />-1- <br />