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"Annual Audit" shall mean the annual audit prepared pursuant to the requirements of <br />Section 5.03 hereof. <br />"Annual Budget" shall mean the annual budget prepared pursuant to the requirements of <br />Section 5.02 hereof. <br />"Annual Debt Service" shall mean the aggregate amount of Debt Service on the Bonds <br />for each applicable Fiscal Year. <br />"Authorized Investments" shall mean any investments or obligations in which the Issuer <br />may invest its funds under applicable law and the internal investment policy of the Issuer, as such <br />policy may be amended and supplemented from time to time. <br />"Authorized Issuer Officer" shall mean the Chairman, the County Administrator, the <br />Clerk or their designee(s), and when used in reference to any act or document also means any other <br />person authorized by ordinance or resolution of the Issuer to perform such act or sign such <br />document. <br />"Board" shall mean the Board of County Commissioners of Indian River County, Florida. <br />"Bond Counsel" shall mean Nabors, Giblin & Nickerson, P.A. or any other attorney at <br />law or firm of attorneys, of nationally recognized standing in matters pertaining to the federal tax <br />exemption of interest on obligations issued by states and political subdivisions, and duly admitted <br />to practice law before the highest court of any state of the United States of America. <br />"Bond Insurance Policy" shall mean a municipal bond insurance policy or financial <br />guaranty insurance policy issued by an Insurer insuring the payment, when due, of the principal of <br />and interest on a Series of Bonds as provided therein. <br />"Bondholder" or "Holder" or "holder of Bonds" or any similar term, when used with <br />reference to a Bond or Bonds, shall mean any Person who shall be the registered owner of any <br />Outstanding Bond or Bonds as provided in the registration books of the Issuer. <br />"Bonds" shall mean the Issuer's General Obligation Bonds issued pursuant to this <br />Resolution. <br />"Capital Appreciation Bonds" shall mean those Bonds, if any, so designated or provided <br />for by Supplemental Resolution of the Issuer, which may be either Serial Bonds or Term Bonds <br />and which shall bear interest payable at maturity or redemption. <br />"Chairman" shall mean the Chairman of the Board or the Vice -Chairman of the Board or <br />such other person as may be duly authorized to act on his or her behalf. <br />"County Administrator" shall mean the County Administrator of the Issuer or any <br />Assistant or Deputy County Administrator. <br />2 <br />