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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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delivered to the Registrar and Paying Agent on any Tender Date, the <br />Registrar and Paying Agent shall register the transfer of such Bond to the <br />purchaser thereof and shall authenticate and deliver a new Bond or Bonds <br />in accordance with the provisions of paragraph (d) of this Section, <br />notwithstanding such nondelivery. <br />(g) Remarketing of Credit Facility Bonds. On any date on which <br />the Registrar and Paying Agent receives notice from the Remarketing Agent <br />that the Remarketing Agent has successfully remarketed any Credit Facility <br />Bonds, the Registrar and Paying Agent shall give notice thereof to the <br />Credit Facility Provider. The Registrar and Paying Agent shall not <br />register the transfer of or deliver any Bonds exchanged for any Credit <br />Facility Bonds so remarketed until it shall have received written notice <br />from the Credit Facility Provider, including, without limitation, notice <br />by telex or other electronic transmission that leaves a written record <br />that the Credit Facility Provider has received all amounts required for <br />the reinstatement of the amount available to be realized tinder the Credit <br />Facility, and has reinstated the amount available to be realized under the <br />Credit Facility, by the sum of (i) the amount by which the amount <br />available to be realized under the Credit Facility was reduced in <br />connection with the purchase of the Bonds so remarketed with amounts <br />realized under the Credit Facility and (ii) if the Maximum Rate has been <br />increased in accordance with Section 2.03 hereof while such Bonds were <br />Credit Facility Bonds, any additional amount to be reinstated in <br />accordance with the provisions of such Credit Facility that were required <br />to comply with the provisions of Section 2.03(h) hereof. <br />- 30 - <br />
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