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<br />"Gross Revenues" shall, unless otherwise provided by subsequent resolution or ordinance of the <br />Issuer, include special assessments levied for improvements to the System which specially benefit <br />property owners. <br /> <br />"Insurer" shall mean such Person as shall be in the business ofinsuring or guaranteeing the <br />payment of principal of and interest on municipal securities and whose credit is such that, at the time <br />of any action or consent required or permitted by the Insurer pursuant to the terms ofthis Resolution, <br />all municipal securities insured or guaranteed by it are then rated, because of such insurance or <br />guarantee, in one of the two most secure grades by one of the Rating Agencies. <br /> <br />"Interest Account" shall mean the separate account in the Sinking Fund established <br />pursuant to Section 4.04(B) hereof. <br /> <br />"Interest Date" or "Interest Payment Date" shall be such date or dates as shall be <br />provided by Supplemental Resolution of the Issuer. <br /> <br />"Investment Earnings" shall mean all income and earnings derived from the investment <br />of moneys in the funds and accounts established hereunder, other than the Construction Fund and <br />the Rebate Fund. <br /> <br />"Issuer" shall mean the City of Casselberry, Florida. <br /> <br />"Mayor" shall mean the Mayor of the City and such other person as may be duly authorized <br />to act on his or her behalf. <br /> <br />"Maximum Annual Debt Service" shall mean the largest aggregate amount ofthe Annual <br />Debt Service becoming due in any Fiscal Year in which Bonds are Outstanding. <br /> <br />"Maximum Interest Rate" shall mean, with respect to any particular Variable Rate Bonds, <br />a numerical rate of interest, which shall be set forth in the Supplemental Resolution of the Issuer <br />delineating the details of such Bonds, that shall be the maximum rate of interest such Bonds may at <br />any particular time bear. <br /> <br />"Moody's" shall mean Moody's Investors Service, and any assigns and successors thereto. <br /> <br />"Net Revenues" shall mean Gross Revenues less Operating Expenses. <br /> <br />"Notes" shall mean notes or other evidence of indebtedness constituting Bonds under this <br />Resolution. <br /> <br />"Operating Expenses" shall mean any and all costs incurred by the Issuer in operating, <br />maintaining and administering the System, including, but not limited to, the general administrative <br />and legal costs of the Issuer related to operation, maintenance, management, security and <br /> <br />8 <br />