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RESOLUTION NO. 2001- Q72 <br />A RESOLUTION OF INDIAN RIVER COUNTY, FLORIDA AUTHORIZING <br />THE ISSUANCE OF ITS REVENUE BONDS (SPRING TRAINING FACILITY), <br />SERIES 2001 IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED <br />$18,000,000 FOR THE PURPOSE OF PAYING ALL OR A PORTION OF THE <br />COST OF THE ACQUISITION, CONSTRUCTION, REHABILITATION AND <br />EQUIPPING OF A SPRING TRAINING FACILITY PROVIDING FOR THE <br />PAYMENT OF SUCH BONDS SOLELY FROM CERTAIN REVENUES AS <br />HEREIN PROVIDED; PROVIDING FOR THE RIGHTS OF THE HOLDERS OF <br />SUCH BONDS MAKING CERTAIN COVENANTS AND AGREEMENTS IN <br />CONNECTION THEREWITH; PROVIDING CERTAIN OTHER MAT MRS IN <br />CONNECTION THEREWITH; AND PROVIDING AN EI•FE.CTIVE DATE. <br />BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF INDIAN <br />RIVER COUNTY, FLORIDA - <br />SECTION 1. AUTHORITY. This Resolution is adopted pursuant to the Constitution of <br />the State of Flonda, Chapter 125, Florida Statutes, County Home Rule Ordinance No. 95-16, as <br />amended and supplemented, and other applicable provisions of law. <br />SECTION 2. DEFINITIONS. The following terms shall have the following meanings <br />herein, unless the text otherwise expressly requires Words importing singular number shall include <br />the plural number in each case and vice versa, and words importing persons shall include firms and <br />corporations. <br />"Act" shall mean the Constitution of the State of Florida, Chapter 125, Florida Statutes, the <br />County's Home Rule Ordinance No. 95-16, enacted July 18, 1995, as amended and other applicable <br />provisions of law. <br />"Additional Parity Bonds" shall mean the additional obligations issued on a parity with the lien <br />on the Local Government Half -Cent Sales Tax pursuant to Section 19.F. hereof <br />"Amortization Installment" with respect to any Term Bonds, shall mean an amount so <br />designated for mandatory principal installments (for mandatory call or otherwise) payable on any <br />Term Bonds issued under the provisions of this Resolution. <br />"Bonds" shall mean the Issuer's Revenue Bonds (Spring Training Facility), Series 2001, <br />permitted to be issued hereunder in accordance with the provisions hereof <br />"Bond Insurer" shall mean Financial Guaranty Insurance Company, a New York stock <br />insurance company, or any successor thereto <br />"Bond Insurance Policy" shall mean the municipal bond new issue insurance policy issued by <br />the Bond Insurer insuring the payment of principal of and interest on the Bonds. <br />"Bond Service Requirement" shall mean, for any Fiscal Year, at any time, the amount required <br />to be deposited in such Fiscal Year into the Debt Service Fund, as provided herein or a similar fund <br />with respect to any Additional Parity Bonds. In calculating such amount, the Issuer shall subtract <br />therefrom any amounts to be transferred from a construction fund or a similar fund for the purpose <br />of paying interest on the Bonds and any Additional Parity Bonds. With respect to Variable Rate <br />Bonds, if any, the interest rate used to calculate the Bond Service Requirement shall be assumed to <br />AUGUST 7, 2001 <br />BK 119PG993 <br />-79- <br />