1993-145 - Laserfiche WebLink

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I. "Federal Securities" shall mean direct obligations of the United States of America, which are not redeemable prior to maturity at the option of the obligor, including without limitation such obligations issued or held in book entry form on the books of the United States of America. J. "Fiscal Year" shall mean the period beginning with and including October first of each year and ending with and including the next September 30. K. "Gross Revenues" shall mean all income and earnings derived from the operation of the Recreational Facilities; and any income from the investment of money in the funds and accounts herein established for the payment of the principal of, interest and premium, if any, on the Bonds. L. "Half -Cent Sales Tax" shall mean the portion of the proceeds of the local government half -cent sales tax on deposit from time to time in the Local Government Half -Cent Sales Tax Clearing Trust Fund in the State Treasury of the State of Florida, allocated for and distributed monthly to the County pursuant to Chapter 218, Part VI, Florida Statutes. M. "Net Revenues" shall mean the Gross Revenues less Operating Expenses. N. "Operating Expenses" shall mean the current expenses paid or accrued for the operation, maintenance and repair of the Recreational Facilities, as determined in accordance with generally accepted accounting procedures, and shall include, without limiting the generality of the foregoing, insurance premiums, administrative expenses of the County related solely to the Recreational Facilities and costs of labor, materials and supplies, but shall exclude any reserves for renewals and replacements, extraordinary repairs and any allowances for depreciation. 0. "Paying Agent" shall mean with respect to any particular series of Bonds issued hereunder the paying agent for said series of Bonds to be determined by subsequent resolution of the Board, which shall be a bank with trust powers or a trust company. P. "Pledged Funds" shall mean the Net Revenues, the Racetrack and Jai Alai Fronton Funds, the Half -Cent Sales Tax and the other revenues and funds Pledged in connection with the Bonds, all in the manner and to the extent provided herein. Q. "Qualified Independent Consultant" shall mean a qualified and recognized independent consultant retained by the County to perform the acts and carry out the duties herein provided for the Qualified Independent Consultant, which consultant, if appropriate, may be the certified public accountants retained, from time to time, to prepare the annual audit of the County, and which consultant shall have a favorable reputation for skill and experience with respect to the acts and duties to be provided hereunder. R. "Racetrack and Jai Alai Fronton Funds" shall mean that portion of the racetrack funds and jai alai fronton funds accruing annually to the County under the provisions of Chapters 550 and 551, Florida Statutes, and allocated to the Board pursuant to law. S. "Record Date" shall mean the fifteenth (15th) day of the month immediately preceding an interest or other applicable payment date for the Bonds.