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(3) the agreement is not subordinated to any other <br />obligations of such insurance company or bank, and <br />(4) the same guaranteed interest rate will be paid on <br />any future deposits made to restore the reserve to <br />its required amount, and <br />(5) the Trustee receives an opinion of counsel that <br />such agreement is an enforceable obligation of <br />such insurance company or bank. <br />4. "Board" shall mean the Board of County Commissioners of <br />Indian River County, Florida. <br />5. "Bond Amortization Account" shall mean the account <br />created pursuant to the Resolution into which funds shall be <br />deposited for purposes of the mandatory redemption of Term <br />Bonds. <br />6. "Bond Registrar" shall mean Florida National Bank, <br />St. Petersburg, Florida. <br />7. "Bonds" shall mean the Series 1989 Bonds together with <br />any Additional Parity Bonds hereafter issued under the <br />Resolution. <br />8. "Bond Insurance Policy" shall mean the municipal bond <br />new issue insurance policy issued by the Bond Insurer <br />guaranteeing the payment of principal of and interest on the <br />Series 1989 Bonds. <br />9. "Bond Insurer" shall mean Financial Guaranty Insurance <br />Company, a New York stock insurance company, or any successor <br />thereto. <br />10. "Consulting Engineers" shall mean such qualified and <br />recognized consulting engineers, having a nationwide and <br />favorable reputation for skill and experience in the <br />construction and operation of systems such as the System at the <br />time retained by the County to perform the acts and carry out <br />the duties as provided in the Resolution for the Consulting <br />Engineers. <br />11. "Costs" shall mean all expenses necessary, appurtenant <br />or incidental to the acquisition or construction of any <br />property, real, personal or mixed, deemed necessary or desirable <br />for carrying out the purposes of the System, including, without <br />intending to limit the generality of the foregoing, the cost of <br />any land or interest therein or of any fixtures, equipment or <br />personal property necessary or convenient therefor; costs of <br />acquiring any water or sewer system or other property in place, <br />or any undivided interest therein, which can be operated as part <br />of the System or which may be declared by resolution of the <br />Board to be part of the System; engineering, legal and financing <br />