1987-139 - Laserfiche WebLink

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• meanings specified in the Indenture and the Loan Agreement, which shall be in substantially the forms attached hereto as Exhibits "A" and "B", respectively, with such omissions, insertions and variations as may be necessary or desirable and are approved by the Chairman prior to the execution thereof, which necessity or desirability, and approval shall be presumed by such execution on behalf of the Issuer. The obligations of the Issuer authorized in this resolution are herein referred to as the "Bonds". The Issuer's Industrial Development Revenue Bonds (Florida Convalescent Centers, Inc. Project), Series 1986, which will be refunded with the proceeds of the Bonds are herein referred to as the "Prior Bonds." The "Project" shall mean the refinancing of the acquisition of a site for, and the cost of construction and equipping of a health care facility located in Indian River County, Florida consisting of an approximately 91 -bed nursing home. Section 3. FINDINGS. It is hereby ascertained, determined and declared as follows: A. The Issuer is a duly created and existing body corporate and politic and a political subdivision of the State of Florida, constitutes a "local agency" under the Act and is authorized by the Act to issue its revenue refunding bonds for the purpose of refunding any of its bonds outstanding under the Act, to sell such revenue refunding bonds at a negotiated sale and to apply the proceeds thereof to the purchase, redemption or payment of such outstanding bonds. B. The Issuer is authorized by the Act to make and execute financing agreements, contracts, deeds and other instruments necessary or convenient for the purpose of facilitating the refunding of any of its bonds previously issued for the purpose of financing the acquisition, construction and equipping of "projects", as defined in the Act, including machinery, equipment, land, rights in land and other appurtenances and facilities related thereto, to the end that the Issuer may be able to promote the economic growth of the State of Florida, increase opportunities for gainful employment and otherwise contribute to the welfare of the State of Florida and its inhabitants. C. The Project is a "project" within the meaning of the Act. The Project is appropriate to the needs and circumstances of the Issuer's community, and the location of the Project therein will make a significant contribution to the economic growth of the area of operation of the Issuer, shall increase opportunities for gainful employment, and shall serve a public purpose by advancing the general welfare of the State of. Florida and its people. D. Giving due regard to information available to the Issuer, including representations made by the Borrower and -3-