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SUN 5 1980 nox 43 PAF. 919 <br />RESOLUTION NO. 80-63 <br />RESOLUTION PROVIDING FOR THE ACQUISITION <br />AND CONSTRUCTION OF CERTAIN WATER FACILI`T'IES <br />IN INDIAN RIVER COUNTY, FLORIDA; AUTHORIZING <br />THE ISSUANCE BY THE COUNTY OF NOT EXCEEDING <br />$5,825,900 WATER REVENUE BONDS, SERIES 1980 <br />(SOUTH COUNTY WATER SYSTEM), TO FINANCE•' A <br />PART OF THE COST THEREOF; PLEDGING TETE GROSS <br />REVENUES OF SUCH FACILITIES TO SECURE PAYMENT <br />OF THE PRINCIPAL OF AND INTEREST ON THE BONDS; <br />AND PROVIDING FOR THE RIGHTS OF THE HOLDERS OF <br />THE BONDS. <br />BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF <br />INDIAN RIVER COUNTY, FLORIDA, as follows: <br />ARTICLE I <br />GENERAL <br />1.01 Definitions. When used in this Instrument, the <br />following terms shall have the following meanings, unless the <br />text clearly otherwise requires: <br />"Annual Budget" shall mean the Annual Budget adopted by <br />the Issuer pursuant to Section 3.04(A) of this Instrument. <br />"Bonds" shall mean the obligations of the Issuer <br />authorized to be issued pursuant to Section 2.01 of this <br />Instrument, and shall be deemed to include also any obligations <br />issued hereafter by the Issuer pursuant to the provisions of <br />Section 3.04 (H) of this Instrument. <br />"Chairman" shall mean the Chairman of the Board of <br />County Commissioners of the Issuer. <br />"Clerk" shall mean the Clerk of the Circuit Court of <br />Indian River County, Florida, ex officio Clerk of the Board of <br />County Commissioners of the Issuer. <br />"Construction Account" shall mean the account or <br />accounts created pursuant to Section 3.03 of this instrument for <br />the purpose of receiving bond proceeds and other funds to pay the <br />Cost of the Project. <br />"Cost," when used in connection with the Project, shall <br />mean all expenses necessary, appurtenant or incidental to the <br />acquisition and construction of the Project, including, without <br />-1- <br />