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<br />Bonds shall have been Outstanding, or (b) the actual rate of interest borne by the Variable Rate <br />Bonds on such date of calculation; provided, in no event shall the Reserve Account Requirement as <br />adjusted on such date of calculation exceed the lesser of the amounts specified in the immediately <br />preceding sentence. <br /> <br />"Resolution" shall mean this Resolution, as the same may from time to time be amended, <br />modified or supp1emented. <br /> <br />"Revenue Fund" shall mean the City of CasselbelT)', Florida InITastructure Sales Surtax <br />Revenue Bond Revenue Fund established pursuant to Section 4.04 hereof. <br /> <br />"Serial Bonds" shall mean all oftlle Bonds other ilian the Term Bonds. <br /> <br />"Series" shall mean all the Bonds delivered on original issuallce in a simultaneous <br />trallsaction and identified pursuant to Section 2.02 hereof or a Supplemental Resolution authorizing <br />the issuance by the Issuer of such Bonds as a separate Series, regardless of variations in maturity, <br />interest rate, Amortization Installments or other provisions. <br /> <br />"Series 2003 Note" shall meall the Issuer's Infrastructure Sales Smiax Revenue Note, Series <br />2003 authorized purSUallt to this Resolution. <br /> <br />"Series 2003 Project" shall mean the construction of celiain improvements to Winter Park <br />Drive and the acquisition of certain rights-of-way located \vitllin the City, all as more particularly <br />described in the plans and specifications on file or to be on file with the City, as the sanle may be <br />modified or mnended from time to time. <br /> <br />"Standard & Poor's" shall mean Stalldard & Poor's Public Finance Ratings, A Division of <br />the McGraw-Hill Companies, Inc., and any assigns and successors thereto. <br /> <br />"State" shall meal1 the State of Florida. <br /> <br />"Subordinated Indebtedness" shall mean indebtedness ofthe Issuer, subordinate and junior <br />to the Bonds as to payment thereof from the Pledged Funds, issued or incurred in accordallce with <br />the provisions of Section 6.01 hereof. <br /> <br />"Supplemental Resolution" shall mean any resolution of the Issuer amending or <br />supplementing this Resolution adopted and becoming effective in accordance with the terms of <br />Sections 8.01, 8.02 alld 8.03 hereof. <br /> <br />"Taxable Bonds" meallS any those Bonds which state, in the body thereof, that the interest <br />income thereon is includable in the gross income of the Holder thereof for federal income taxation <br />purposes or that such interest is subject to federal income taxation. <br /> <br />11 <br />