1987-139 - Laserfiche WebLink

Home Browse Search

Board of County Commissioners of Indian River County, Florida, et al. 1987 Page 2 forth, the Underwriter, hereby agrees to purchase all (but not less than all) of the issue of bonds described on Exhibit A hereto and made a part hereof (the "Bonds"), at a purchase price of 100% of the principal amount thereof. The Bonds shall be dated as of the first day of the month in which such Bonds are initially delivered and will mature on such dates and in such amounts as set forth on Exhibit A. The Bonds shall bear interest from the•date of their initial delivery at the initial rates and shall have such other terms and provisions as are described in the official Statement hereinafter mentioned. As compensation for the purchase of the Bonds, the Borrower, and NHC shall pay to the Underwriters at the Closing (defined herein) from sources•other than the proceeds of the Bonds an underwriting fee in the amount of one and one-quarter percent (1-1/4%) of the initial aggregate face amount of the Bonds. The proceeds of the Bonds will be loaned by the Issuer to the Borrower pursuant to a Loan Agreement dated as of , 198_ (the "Loan Agreement") in order to_refund currently the (the "Prior Bonds") previously issued by the Issuer to finance the construction and acquisition of a nursing home facility (the "Project") located in the State of Florida. The Bonds shall be issued under and pursuant to (i) the enabling legislation described on Exhibit A (the "Act"), (ii) the authorizing resolution adopted by the Issuer described on Exhibit A (the "Authorizing Resolution") and (iii) an Indenture of Trust dated as of , 198 (the "Indenture"), between the Issuer and Third National Bank in Nashville (the "Trustee"). The Bonds are limited obligations of the Issuer, the principal of and premium, if any, and interest on which are payable solely from the Revenues (defined in the Indenture). The Underwriter agrees to make a bona fide public offering of the Bonds at the initial offering price for the Bonds set forth on the cover page of the Official Statement (as defined in Section 2 hereof), but the Underwriter reserves the right to change such price as the Underwriter may deem necessary or desirable in connection with the marketing of the Bonds and to sell the Bonds to dealers (including dealer banks and dealers depositing Bonds into investment trusts) and others at prices different from the public offering prices. The Underwriter also reserves the right (i) to over -allot or effect transactions that stabilize or maintain the market price of the Bonds at a level above that which might otherwise prevail in the open market and (ii) to discontinue such stabilizing, if commenced, at any time. 4330x:10/23/87 3002-353