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`l T. "Recreational Facilities" shall mean the properties and assets, real and personal, tangible and intangible, owned and/or operated by the County as of the date of adoption of this Resolution used or useful for two (2) public golf courses and related clubhouse facilities and all properties and assets thereafter acquired or constructed as improvements, additions or expansions thereof. U. "Registered Owner", "Bondholder", "holder" or any similar term shall mean any person who shall be the owner of any outstanding Bond or Bonds as shown on the books of the County maintained by the Bond Registrar. V. "Resolution" shall mean this resolution, as amended and supplemented from time to time. W. "Reserve Account Requirement" shall mean the lesser of (i) the maximum amount of principal and interest on all outstanding Bonds becoming due in any ensuing Fiscal Year; or (11) 1258 of the average annual amount of principal and interest on all outstanding Bonds becoming due in ensuing Fiscal Years. X. "Retired Bonds" shall mean the outstanding Series 1985 Bonds and the outstanding Series 1991 Bonds. Y. "Sales Tax Resolution" shall mean Resolution No. 85-75 of the County, as amended and supplemented. Z. "Series 1985 Bonds" shall mean the Indian River County, Florida Recreational Revenue Bonds, Series 1985, dated as of April 1, 1986, in the original aggregate principal amount of $2,720,000, issued under Resolution No, 85-78 of the County, as amended and supplemented. AA. "Series 1991 Bonds" shall mean the Indian River County, Florida Recreational Revenue Bonds, Series 1991, dated as of August 1, 1991, in the original aggregate principal amount of $6,015,000, issued under Resolution No. 85-78 of the County, as amended and supplemented. BB. "Series 1993 Bonds" shall mean the Indian River County, Florida Recreational Revenue Refunding Bonds, Series 1993, herein authorized to be issued hereunder. CC. "Series 1993 Bond Insurance Policy" shall mean the municipal bond insurance policy issued by the Series 1993 Bond Insurer insuring the payment when due of the principal of and interest on the Series 1993 Bonds, as provided therein. DD. "Series 1993 Bond Insurer" shall mean AMBAC Indemnity Corporation, a Wisconsin domiciled stock insurance company, or any successor thereto. EE. "Series 1993 Reserve Account Surety" shall mean AMBAC Indemnity Corporation, a Wisconsin domiciled stock insurance company, or any successor thereto. FF. "Series 1993 Reserve Account Surety Bond" shall mean the surety bond issued by the Series 1993 Reserve Account Surety guaranteeing certain payments into the Reserve Account as provided therein and subject to the limitations set forth therein.