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1987-139
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1987-139
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9/2/2022 9:33:01 AM
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Resolutions
Resolution Number
1987-139
Approved Date
11/24/1987
Resolution Type
INDUSTRIAL DEVELOPMENT REVENUE REFUNDING BONDS
Subject
financing the acquisition of a Health Care Facility by Fl. Convalescent Centers, Inc.,
consisting of an 91-bed Nursing Home providing for issuance by ORC
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less than the repurchase price; (e) obligations of any state of the United States <br />or any political subdivision thereof rated in one of the two highest rating <br />categories by a Rating Agency; (f) obligations of any state of the United States <br />or any political subdivision thereof for the payment of the principal or <br />redemption price of and interest on which there shall have been irrevocably <br />deposited Government Obligations maturing as to principal and interest at times <br />and in amounts sufficient to provide such payment; (g) commercial paper or <br />finance company paper rated in the highest category by a Rating Agency; and (h) <br />so long as any Credit Facility shall be in effect, such other investments as <br />shall be approved in writing by the Credit Facility Provider. <br />"Issuer" means Indian River County, Florida, and its successors and <br />assigns. <br />an Agreement" means the Loan Agreement dated as of the date hereof <br />between the Borrower and the Issuer, as amended, modified or supplemented from <br />time to time. <br />longer. "Long Fixed Rate Period" means a Fixed Rate Period of six months or <br />Date. "Mandatory Tender Dare" means each Conversion Date and any Termination <br />'_'_Mandatory Tender Notice" means a notice of a Mandatory Tender Date <br />given by the Registrar and Paying Agent in accordance with Section 3.04(b) <br />hereof. <br />"Maximum Rate" means fifteen percent (158) per annum, or such higher <br />rate as shall be established for the Bonds by resolution of the Issuer in <br />accordance with Section 2.03 hereof. <br />"Mortgage" means the mortgage instrument dated as of 198 , <br />pertaining to the Project executed and delivered by the Borrower to the Trustee <br />and the initial Credit Facility Provider, as amended, modified or supplemented <br />from time to time. <br />"NHC" means National HealthCorp P.L., a Delaware limited partnership, <br />and its successors and assigns. <br />"Non -Tender Notice" means a notice given to the Registrar and Paying <br />Agent by the holder of any Bond in accordance with Section 7(c) of the Bonds of <br />such holder's election not to tender such Bond for purchase on any Mandatory <br />Tender Date. <br />"Optional Tender Date" means, with respect to any Bond, a date on which <br />such Bond is required to be purchased upon the demand of the holder thereof in <br />accordance with Section 7(a) of such Bond. <br />M:W <br />
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