10/19/1983 - Laserfiche WebLink

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rOCT 19 1963 3 ray contracts, deeds and other instruments necessary or convenient for the purpose of facilitating the financing of certain projects, including machinery, equipment, land, rights in land and other appurtenances and facilities related thereto, to the end that. the Issuer may be able to promote the economic develop- ment of the State of Florida (the "State"), increase oppor- tunities for gainful employment and otherwise aid in improving the prosperity and welfare of the State and its inhabitants; and to provide such financing through the issuance of industrial development revenue bonds. B. The acquisition, construction and equipment of a 120 -bed nursing home, including any necessary utilities, by Florida Health Facilities Corp. (of Indian River County), a Florida corporation (the "Borrower"), the owner thereof, to be located at the street address of 1310 37th Street, Vero Beach, Florida 33960, entirely within the unincorporated area of the Issuer (the "Project"), is appropriate to the needs and cir- ctnstances of the community of the Issuer, and the location of the Project within the jurisdictional territorial limits of the Issuer will make a significant contribution to the economic growth of such community, will provide gainful employment and will serve a public purpose by advancing the economic prosperity and the general welfare of the State and its people. C. Giving due regard to the ratio of the Borrower's current assets to its current liabilities, the net worth and ear- nings trends of the Borrower, coverage of all its fixed charges, the nature of the business involved, its inherent stability, the Guaranty Agreement described in Section 9 hereof, and all other factors determinative of the Borrower's capabilities, financial and otherwise, of fulfilling its obligations consistently with the purposes of the Act, the Borrower is financially responsible and fully capable and willing to fulfill its obligations under the Loan Agreement, including the obligation to make payments thereunder in the amounts and at the times required pursuant to the terms of the Loan Agreement and the obligation to operate, repair and maintain the Project, at its own expense; and the Borrower is desirous of fully performing all other obligations anis responsibilities imposed upon it pursuant to the provisions of the Loan Agreement. D. The Issuer is able to cope satisfactorily with the impact of the Project, and all the necessary public facilities, utilities and services that will-- be necessary for the construction, operation, repair and maintenance of the Project and on account of any increase in population or other circumstan- ces resulting by -reason of the location of the Project within the jurisdictional territorial limits of the Issuer, will be provided by the Borrower when needed. -2-