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FURNISHING AND EQUIPPING OF AN EXPANSION OF THE SANDRIDGE GOLF COURSE OF AND IN THE COUNTY; MAKING SAID EXPANSION A PART OF THE PROJECT, AS DEFINED BY SAID RESOLUTION; AUTHORIZING THE ISSUANCE OF NOT EXCEEDING $6,500,000 RECREATIONAL REVENUE BONDS, SERIES 1991, TO FINANCE THE COST OF THE EXPANSION, AS ADDITIONAL PARITY OBLIGATIONS UNDER SAID RESOLUTION; MAKING CERTAIN PLEDGES, COVENANTS AND AGREEMENTS IN CONNECTION THEREWITH; AND PROVIDING AN EFFECTIVE DATE." (hereinafter called the "Bond Resolution"). B. It is necessary and desirable to amend and restate the Bond Resolution to further provide for the issuance of the Series 1991 Bonds and the terms and provisions upon which additional bonds may be issued under the Bond Resolution and may be paid and secured. SECTION 3. Amendment and Restatement of Bond Resolution. The Bond Resolution is hereby amended and restated in its entirety to read as follows: "RESOLUTION NO. 91-70 A RESOLUTION AMENDING AND SUPPLEMENTING RESOLUTION NO. 85-78 OF INDIAN RIVER COUNTY, FLORIDA, AS AMENDED AND SUPPLEMENTED; AUTHORIZING THE CONSTRUCTION, ACQUISITION, FURNISHING AND EQUIPPING OF AN EXPANSION OF THE SANDRIDGE GOLF COURSE OF AND IN THE COUNTY; MAKING SAID EXPANSION A PART OF THE PROJECT, AS DEFINED BY SAID RESOLUTION; AUTHORIZING THE ISSUANCE OF NOT EXCEEDING $6,500,000 RECREATIONAL REVENUE BONDS, SERIES 1991, TO FINANCE THE COST OF THE EXPANSION, AS ADDITIONAL PARITY OBLIGATIONS UNDER SAID RESOLUTION; MAKING CERTAIN PLEDGES, COVENANTS AND AGREEMENTS IN CONNECTION THEREWITH; AND PROVIDING AN EFFECTIVE DATE. "SECTION 1. AUTHORITY FOR RESOLUTION. This Resolution, which amends and supplements the Master Bond Resolution hereinafter defined, is adopted pursuant to Chapters 125, Florida Statutes (1990), as amended, Indian River County Ordinance 77-19, duly enacted by the Board on August 3, 1977, as amended, and other applicable provisions of law. "SECTION 2. DEFINITIONS. All terms used herein shall have the ' meanings ascribed to them in the Master Bond Resolution, except as otherwise expressly provided herein. When used in this Resolution the following terms shall have the following meanings, unless the context clearly requires otherwise: - 2 -