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(E) Article VII, Section 12(a) of the Constitution of the State of Florida provides that <br />upon approval by a vote of the electors, municipalities may issue bonds payable from ad valorem <br />taxation to finance capital projects authorized by law. <br />(F) The Issuer deems it a paramount public purpose and deems it necessary, beneficial <br />and in its best interest to provide for the financing of the Project. <br />(G) Ad Valorem Taxes levied by the Issuer in accordance with this Bond Resolution <br />should be sufficient to pay all principal of and interest and redemption premium, if any, on the <br />Bonds to be issued hereunder, as the same become due, and to make all required deposits or <br />payments required by this Bond Resolution. <br />SECTION 3. DEFINITIONS. Capitalized terms not otherwise defined herein shall have <br />the meaning set forth in the Referendum Resolution. In addition, as used in this Bond Resolution, <br />the following terms shall have the following meanings: <br />"AD VALOREM TAXES" shall mean the ad valorem taxes levied by the Issuer on real <br />property and improvements thereto subject to the Issuer's ad valorem taxing power which are <br />located from time to time within the municipal boundary of Casselberry, Florida. <br />"BOND COUNSEL" shall mean the Issuer's bond counsel which may be any attorney at <br />law or firm of attorneys of nationally recognized standing in matters pertaining to the exclusion <br />from gross income for federal income tax purposes of interest on obligations issued by states and <br />political subdivisions, and duly admitted to practice law before the highest court of any state of <br />the United States of America. <br />"BOND REFERENDUM" shall have the same meaning as set forth above in Section 2. <br />"BOND REGISTRAR AND PAYING AGENT" means any trust company or bank with <br />trust powers appointed from time to time by supplemental resolution of the City Commission to <br />serve under this Bond Resolution. <br />"BOND RESOLUTION" means this resolution authorizing the Bonds. <br />"BOND YEAR" means such year as determined by the Issuer. <br />"BONDS" means the not to exceed aggregate amount of $24,000,000 City of Casselberry, <br />Florida General Obligation Bonds, authorized by this Bond Resolution. <br />"CITY ATTORNEY" means the City Attorney of the Issuer (or her firm, Garganese, <br />Weiss, D'Agresta & Salzman, P.A.), or any subsequent attorney or firm which may serve as the <br />City Attorney of the City of Casselberry in the future. , <br />"CITY CHARTER" or "CHARTER" means the municipal charter of the Issuer. <br />2 <br />