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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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CU <br />First: from amounts on deposit in the Purchase Account, <br />if the Registrar and Paying Agent shall have notified the <br />Remarketing Agent at least 21 days before such Tender Date <br />that such amounts are available to be applied to the payment <br />of the principal portion of the purchase price of Bonds <br />tendered for purchase on such Tender Date (the accrued <br />interest on such Bonds to be paid from moneys realized by the <br />Registrar and Paying Agent under the Credit Facility); <br />Second: from proceeds of the remarketing of Bonds <br />received by the Registrar and Paying Agent; <br />Third: from any other amount on deposit in the Purchase <br />Account; <br />Fourth: from moneys realized by the Registrar and Paying <br />Agent under the Credit Facility; and <br />Fifth: from any other moneys made available by the <br />Trustee to the Registrar and Paying Agent for such purpose. <br />(d) Disposition of Bonds. Bonds tendered to the Registrar and <br />Paying Agent on any Tender Date shall be registered and made available by <br />the Registrar and Paying Agent as follows: <br />(i) Bonds remarketed by the Remarketing Agent shall be <br />exchanged for other Bonds, as necessary to correspond to the <br />denominations in which such Bonds have been sold by the <br />Remarketing Agent, shall be registered in the names of the <br />purchasers thereof made available to such purchasers in <br />accordance with the directions of the Remarketing Agent; <br />(ii) Bonds the principal portion of the purchase price of <br />which shall have been paid by the Registrar and Paying Agent <br />from amounts realized under the Credit Facility shall be <br />registered and made available at the direction of the Credit <br />Facility Provider; and <br />(iii) Bonds the principal portion of the purchase price of <br />which shall have been paid by the Registrar and Paying Agent <br />from any other moneys shall be registered in the name and <br />made available at the direction of the Borrower. <br />(e) Purchased Bonds Not Discharged. Anything in this Indenture to <br />the contrary notwithstanding, Bonds purchased by the Registrar and Paying <br />Agent in accordance with this Section with proceeds of the remarketing of <br />Bonds by the Remarketing Agent or amounts realized under the Credit <br />Facility shall not be deemed to have been redeemed, paid or discharged <br />pursuant to this Indenture. <br />(f) Non -Delivery of Bonds. If any Bond (other than any Bond with <br />respect to which a Non -Tender Notice is properly delivered) is not <br />- 29 - <br />
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