1986-019 - Laserfiche WebLink

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B. It is necessary and desirable to amend the Resolution by making certain changes necessary for the issuance of a municipal bond insurance policy with respect to the bonds. SECTION 3. AMENDMENTS TO RESOLUTION. The Resolution is amended in the following manner. A. Section 2 of the Resolution is hereby amended to read as follows: "SECTION 2. DEFINITIONS. The following terms shall have the following meanings herein, unless the text otherwise expressly requires. Words importing singular number shall include the plural number in each case and vice versa, and words importing persons shall include firms and corporations. A. 'Act' shall mean Chapter 125, Florida Statutes, Indian River County Ordinance No. 77-19, duly enacted by the Board on August 3, 1977, as amended, and other applicable provi- sions of law. B. 'Additional Parity Obligations' shall mean addi- tional obligations issued in compliance with the terms, conditions and limitations contained in this resolution and which shall have an equal lien on the Pledqed Funds. C. 'Amortization Installment,' with respect to any Term Bonds of a series, shall mean an amount or amounts so designated which is or are established for the Term Bonds of such series, provided that the aggregate of such Amortization Installments for each maturity of Term Bonds of such series shall equal the agqre- gate principal amount of each maturity of Term Bonds of such series delivered on oriqinal issuance. D. 'Authorized Investments' shall mean any of the following if and to the extent the same are at, the time legal for investment of county funds; (1) direct obligations of or obliga- tions unconditionally guaranteed by the United States of America; (2) time deposits represented by certificates of deposit fully secured in the manner provided by the laws of the State of Florida; (3) repurchase agreements between the Issuer and -2-