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1987-139
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1987-139
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9/2/2022 9:33:01 AM
Creation date
9/1/2022 9:39:10 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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• <br />'EMIBIT B <br />Pursuant to Section 4.05 of the Indenture: <br />(i) on each Interest Payment Date, on the <br />redemption or maturity date of any Bonds, and on any <br />date on which the due date for the payment of the <br />principai amount of the Bonds is accelerated in <br />accordan'6e with the Indenture, the Registrar and <br />Paying Agent shall pay the interest due on the Bonds <br />(other than Credit Facility Bonds) on such date from <br />amounts on deposit in the Interest Account; <br />(ii) on each Tender Date, the Registrar and <br />Paying Agent shall pay the purchase price of Bonds <br />(other than Credit Facility Bonds) required to be <br />purchased on such date from amounts on deposit in the <br />Purchase Account; <br />(iii) on each date on which the principal or <br />redemption price of any Bonds (other than Credit <br />Facility Bonds) becomes due and payable, the <br />Registrar and Paying Agent shall pay such principal <br />or redemption price from amounts on deposit in the <br />Principal Account. <br />In the event that Bonds required to be purchased on any Tender <br />Date are not delivered to the Registrar and Paying Agent in <br />accordance with the terms of such Bonds, the Registrar and <br />Paying Agent is required, subject to certain conditions, to <br />retain amounts available to pay the purchase price of such <br />Bonds in the Purchase Account, separate and apart from all such <br />amounts on deposit therein, which amounts are to be held for <br />the payment of such purchase price. <br />Section 9.01 of the Indenture provides that Bonds may <br />be deemed to be paid if (i) sufficient money for the payment of <br />the principal or redemption price of and interest on such Bond <br />shall then be held by the Trustee (through deposit by the <br />Issuer of moneys for such .payment or otherwise, regardless of <br />the source of such moneys), whether at or prior to the maturity <br />or the redemption date of such Bonds, or (ii) if the maturity <br />or redemption date of such Bonds shall not then have arrived, <br />provision shall have been made for the payment of the principal <br />or redemption price of and interest on, and the purchase price <br />of, such Bond on the due dates for such payments, by deposit <br />with the Trustee (or other method satisfactory to the Trustee) <br />of Government obligations (defined in the Indenture), the <br />principal of and the interest on which when due will provide <br />sufficient moneys for such payment and the Issuer shall have <br />made provision, satisfactory to the Trustee, for one <br />publication in a daily newspaper or a financial journal printed <br />9751a:10/22/e7 <br />3002-353 <br />
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