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G. "Series 1985 Bonds" shall mean the Indian River County, Florida Refunding and Improvement Revenue Bonds, Series 1985, dated as of November 1, 1985, in the original aggregate principal amount of $9,855,000, issued as the first installment of the Bonds originally authorized under the Master Bond Resolution. H. "Series 1987 Bonds" shall mean the Indian River County, Florida Capital Improvement Revenue Bonds, Series 1987, dated as of July 1, 1987, in the original aggregate principal amount of $3,655,000, issued as the second installment of the Bonds originally authorized under the Master Bond Resolution. I. "Series 1992 Bonds" shall mean the Refunding Revenue Bonds, Series 1992, herein authorized to be issued as the third installment of the Bonds originally authorized to be issued under the Master Bond Resolution. Words importing singular number shall include the plural number and vice versa and words importing persons shall include firms, corporations and other entities and vice versa. that: SECTION 3. FINDINGS. It is hereby ascertained, determined and declared A. It is necessary, desirable and in the best interest of the County to retire a portion of the outstanding Series 1985 Bonds and to retire all of the outstanding Series 1987 Bonds. B. It is necessary, desirable and in the best interest of the County to finance the amount necessary for said retirements by the issuance of the Series 1992 Bonds as the third installment of the Bonds originally authorized under the Master Bond Resolution. C. The Bonds, including the Series 1992 Bonds, shall be payable solely from the Pledged Funds. D. It is expected that the Pledged Funds will be sufficient to pay the principal of, premium, if any, and interest on the Bonds, including the Series 1992 Bonds. SECTION 4. RESOLUTION TO CONSTITUTE CONTRACT. In consideration of the acceptance of the Series 1992 Bonds by the Registered Owners thereof who shall hold the same from time to time, the Master Bond Resolution, including this Resolution, shall be deemed to be and shall constitute a contract between the County and Registered Owners of the Series 1992 Bonds. The covenants and agreements set forth herein and in the Master Bond Resolution to be performed by the County shall be for the equal benefit, protection and security of the Registered Owners of the Bonds, including the Series 1992 Bonds, all of which Bonds shall be of equal rank and without preference, priority or distinction with respect to any other Bonds, except as expressly provided in the Master Bond Resolution, in this Resolution and in the Bonds. SECTION 5. AUTHORIZATION TO RETIRE A PORTION OF THE OUTSTANDING SERIES 1985 BONDS AND TO RETIRE ALL OF THE OUTSTANDING SERIES 1987 BONDS. The retirement of the following outstanding Series 1985 Bonds at maturity or on September 1, 1995, the earliest optional redemption date, as indicated, is hereby authorized: