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"A. "AMBAC Indemnity" or "AMBAC" shall mean AMBAC Indemnity Corpora <br />a Wisconsin -domiciled stock insurance company. <br />"B. <br />"County" shall mean Indian River County, Florida. <br />"C. "Master Bond Resolution" shall mean Resolution No. 85-78 o <br />County, as amended and supplemented, from time to time, including, to the e <br />provided herein, this Resolution. <br />"D. "Municipal Bond Insurance Policy" shall mean the municipal <br />insurance policy or policies issued by AMBAC insuring the payment when due c <br />principal of and interest on the Series 1985 Bonds and the Series 1991 Bor <br />provided therein. <br />"E. "1991 Construction Fund" shall mean the Recreational Revenue F <br />Series 1991, Construction Fund established hereunder. <br />"F. "1991 Project" shall mean the expansion of the Sandridge Golf( <br />authorized to be constructed, acquired, furnished and equipped under <br />Resolution, including without limitation the acquisition, construc <br />furnishing and equipping of an additional eighteen hole public golf court <br />an expansion of the clubhouse facilities. <br />"G. "Series 1991 Bonds" shall mean the Indian River County, F] <br />Recreational Revenue Bonds, Series 1991, authorized to be issued under <br />Resolution. <br />"Words importing singular number shall include the plural numb <br />vice versa and words importing persons shall include firms, corporatiot <br />other entities and vice versa. <br />"SECTION 3. FINDINGS. It is hereby ascertained, determin4 <br />declared that: <br />"A. The Board on July 17, 1985 duly adopted a resolution entit] <br />follows: <br />"RESOLUTION NO. 85-78 <br />A RESOLUTION PROVIDING FOR THE CONSTRUCTION AND <br />EQUIPMENT OF A PUBLIC GOLF COURSE IN INDIAN RIVER <br />COUNTY, FLORIDA; AUTHORIZING THE ISSUANCE OF NOT <br />EXCEEDING $4,200,000 RECREATIONAL REVENUE BONDS, SERIES <br />1985, OF THE COUNTY TO FINANCE THE COST THEREOF; <br />PROVIDING FOR THE PAYMENT OF THE PRINCIPAL OF AND THE <br />INTEREST ON SUCH BONDS FROM THE NET REVENUES TO BE <br />- 3 - <br />