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Obligations issued pursuant to the Master Bond Resolution. The Series 1991 Bonds shall be dated as of a date to be fixed by subsequent resolution of the County and may be numbered consecutively from one upward or in such other manner as agreed upon between the County and the Bond Registrar. The Series 1991 Bonds shall be issued in such denominations, shall bear interest at such rate or rates, not exceeding the maximum rate authorized by applicable law, payable at such times, shall mature on such dates and in such years and in such amounts, shall be subject to redemption, in whole or in part, prior to their respective stated dates of maturity, at the option of the County or otherwise, at such times and in such manner and shall have such other terms and conditions all as may be determined by subsequent resolution of the County adopted at or prior to the sale of the Series 1991 Bonds. The Series 1991 Bonds shall be substantially in the form set forth in the Master Bond Resolution, with such omissions, insertions and variations as may be necessary and/or desirable and authorized or permitted by the Master Bond Resolution, this Resolution or any subsequent resolution adopted prior to the issuance thereof, or as may be necessary to comply with applicable laws, rules and regulations of the United States and the State of Florida in effect upon the issuance thereof. "The Series 1991 Bonds shall be issued in fully registered form without coupons; shall be payable with respect to principal at a principal corporate trust office of the Paying Agent; shall be payable in lawful money of the United States of America; and shall bear interest from their date, payable by check mailed to the Registered Owners at their addresses as they appear on the registration books kept by the Bond Registrar on behalf of the County. "Notwithstanding any other provisions of this section, the Board may, at its option, prior to the date of issuance of the Series 1991 Bonds and subject to the approval of the purchasers of said Bonds, elect to use an immobilization system or pure book -entry system with respect to issuance of said Bonds, provided adequate records will be kept with respect to the ownership of said Bonds issued in book -entry form or the beneficial ownership of said Bonds issued in the name of a nominee. As long as any Series 1991 Bonds are outstanding in book -entry form, the provisions of Sections 7, 9, 10 and 11 of the Master Bond Resolution shall not be applicable to such book -entry Bonds. The details of any alternative system of Bond issuance, as described in this paragraph, shall be set forth in a resolution of the Board duly adopted at or prior to the delivery of any of the Series 1991 Bonds. "SECTION 9. 1991 FUND AND ACCOUNTS. There is hereby created and established the "Recreational Revenue Bonds, Series 1991, Sinking Fund" (herein the "1991 Sinking Fund") within the Sinking Fund, the "Recreational Revenue Bonds, Series 1991, Bond Amortization Account" (herein the "1991 Bond Amortization Account") within the Bond Amortization Account and the "Recreational Revenue Bonds, Series 1991, Reserve Account" (herein the "1991 Reserve Account") within the Reserve Account. The 1991 Sinking Fund, the 1991 Bond Amortization - 6 -