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C-3 <br />Tom <br />EXHIBIT "A" <br />Re: Proposed $4,800,000 Indian River County, Florida <br />Industrial Development Revenue Refunding Bonds, <br />Series 1987 (Florida Convalescent Centers Inc Projegt) <br />October 13 , 1987 <br />..- David Evans <br />Vice President <br />Florida Convalescent Centers, Inc. <br />Honeywell Center <br />Suite 1111 <br />1111 Mockingbird Lane <br />Dallas, Texas 75247 <br />Dear Mr. Evans: <br />Florida Convalescent Centers, Inc., (the "Company") has requested <br />Indian River County, Florida (the "County") to consider refunding its $4,800,000 <br />Industrial Development Revenue Bonds, Series 1986 (Florida Convalescent Centers, <br />Inc. Project) (the "Bonds"). <br />The Bonds were issued to finance the acquisition and construction of a <br />skilled and intermediate care nursing home facility in the County (the <br />"Project"). <br />The County heretofore determined that its issuance of the Bonds to <br />assist the Company in acquiring and constructing the Project would result in a <br />substantial increase in employment in the County and that the issuance of the <br />Bonds would serve a public purpose by increasing the purchasing power and <br />improving the living conditions of the citizens and inhabitants of the County and <br />would contribute to the prosperity and welfare of the State and its inhabitants. <br />Accordingly, in order to assist the Company in refunding the Bonds, the <br />County hereby makes the following proposal: <br />1. The County will issue its industrial development revenue refunding <br />bonds (the "Refunding Bonds") in an aggregate principal amount not to exceed <br />$4,800,000. <br />2. The County and the Company will enter into a Loan Agreement. The <br />loan payments shall be pledged and applied pursuant to the Loan Agreement, and <br />shall be sufficient to make the payment of the principal of, interest on and <br />1 <br />