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1987-139
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1987-139
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9/2/2022 9:33:01 AM
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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 />any of the Bonds that remain unclaimed for seven years after the date on <br />which such Bonds became due and payable either at their stated maturity <br />dates or by call for earlier redemption, if such moneys were held by the <br />Trustee at such date, or for seven years after the date of deposit of such <br />moneys if deposited with the Trustee after such date, shall, at the <br />written request of the Borrower, be repaid by the Trustee to the Borrower <br />or to such officer, board of body as may then be entitled by law to <br />receive such moneys, as its absolute property and free from trust, and the <br />Trustee shall thereupon be released and discharged; provided, however, <br />that, before being required to make any such payment, the Trustee may, at <br />the expense of the Issuer, cause to be published in an Authorized New York <br />Newspaper a notice that such moneys remain unclaimed and that, after a <br />date named in such notice, which date shall be not fewer than 40 nor more <br />than 90 days after the date of publication of such notice, the balance of <br />such moneys then unclaimed shall be returned to the Borrower. <br />- 59 - <br />
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