§ 17-261. Definitions.

When used in this division, the following terms shall have the following meanings, unless the context clearly otherwise requires:

Board shall mean the Board of County Commissioners of Orange County, Florida, and any successor thereto.

Bond resolution shall mean the resolution of the county providing for the security for the bonds, the flow of funds, the rights and remedies of the bondholders and various other terms and details relating to the bonds, as the same may be amended or supplemeted from time to time.

Bonds shall mean revenue bonds issued by the county pursuant to this division, payable from the pledged funds.

Costs, when used in connection with a project, shall mean:

(1)

The county's cost of physical construction;

(2)

Costs of acquisition by or for the county of such project;

(3)

Costs of land and interests therein and the cost of the county incidental to such acquisition;

(4)

The cost of any indemnity and surety bonds and premiums for insurance during construction;

(5)

All interest due to be paid on the bonds and other obligations relating to the project during the period of construction of such project and for a reasonable period subsequent to completion of construction as the board of county commissioners shall determine by resolution;

(6)

Engineering, legal and other consultant fees and expenses;

(7)

Costs and expenses of the financing incurred for such project, including audits, fees and expenses of any paying agent, registrar, credit enhancers of depository;

(8)

Payments, when due (whether at the maturity of principal or the due date of interest or upon redemption) on any interim or temporary indebtedness incurred for such project;

(9)

Costs of machinery, equipment, supplies and spare parts required by the county for the commencement of operation of such project; and

(10)

Any other costs properly attributable to such construction or acquisition or to the issuance of bonds which finance such project, as determined by generally accepted accounting principles applicable to such project, and shall include reimbursement to the county for any such items of cost paid by the county prior to issuance of the bonds or other obligations issued to finance such project. Additional items of cost may be provided pursuant to the bond resolution.

County shall mean Orange County, a political subdivision of the State of Florida.

Pledged funds shall mean:

(1)

The public service tax; and

(2)

Until applied in accordance with the terms of the bond resolution, all moneys in such funds and accounts, including investments thereof, as the county shall determine to pledge pursuant to the bond resolution.

Project shall mean the acquisition and construction of such capital improvements, facilities, property and/or equipment as the board of county commissioners shall determine to finance, from time to time, by the issuance of the bonds pursuant to this division and shall include all property, rights, easements and franchises relating thereto and deemed necessary or convenient for the acquisition, construction or the operation thereof. The acquisition and construction of each project may be authorized by bond resolution.

Public service tax shall mean the proceeds of the public service tax received by the county from its levy of such tax pursuant to the public service tax ordinance [division 9 of this article]. The public service tax may be increased or decreased in such manner as deemed appropriate by the county in accordance with the terms of the public service tax ordinance and the bond resolution.

Public service tax ordinance shall mean the county's Ordinance No. 91-17, approved by the board of county commissioners on August 6, 1991 [codified as division 9 of this article], as amended and supplemented, and any successor instrument thereto.

The words "herein," "hereunder," "hereby," "hereto," "hereof" and any similar terms shall refer to this division. Words importing the singular number include the plural number and vice versa.

(Ord. No. 92-35, § 1, 11-10-92)

Cross reference

Rules of construction and definitions, § 1-2.