1998-131 - Laserfiche WebLink

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RESOLUTION NO. R-98- 131 RESOLUTION OF THE BOARD OF THE COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, APPROVING A FIRST AMENDMENT TO AN INTERLOCAL AGREEMENT AND THE ISSUANCE OF REVENUE BONDS IN AN AMOUNT NOT TO EXCEED$16,000,000 BY THE PALM BEACH COUNTY HEALTH FACILITIES AUTHORITY WHEREAS, the Palm Beach County Health Facilities Authority (the "Authority") is considering the issuance of not to exceed $16,000,000 aggregate principal amount of one or more series of its revenue bonds (the "Bonds"); and WHEREAS, the proceeds of the Bonds will be used by the Authority to make a loan to ACTS Retirement-Life Communities, Inc. (formerly known as Adult Communities Total Services, Inc. and defined herein as "ACTS") to be used to (i) finance or refinance the acquisition, construction, equipping and improving of the existing facilities of ACTS, as further described as follows: Name of Project Location Description of Existing Projects to be Financed FacWty St. Andrew's Estates 6152 North Verde Trail, 272 independent living Miscellaneous capital North Boca Raton units,central facilities improvements and (Palm Beach County) and a 120-bed medical renovations and the Florida 33433-4402 care facility acquisition of capital equipment Edgewater Pointe 23315 Blue Water 354 independent living Miscellaneous capital Estates Circle,Boca Raton units,central facilities, improvements and (Palm Beach County) 54 assisted living units renovations and the Florida 33433-7053 and a 99-bed medical acquisition of capital care facility equipment St. Andrew's Estates 6045 South Verde Trail 317 independent living Miscellaneous capital South Baca Raton units,central facilities improvements and (Pahn Beach County) and 40 assisted living renovations and the Florida 33433-4402 units acquisition of capital equipment 011.184382.1 -1-