Laserfiche WebLink
DAZ/021788/021788 <br />Florida Convalescent Centers, Inc. Project <br />IRC/FL CONV CTR <br />CLM - 9162-2 <br />RESOLUTION <br />RESOLUTION NO. 88- 16 <br />WHEREAS, Indian River County, Florida (the "County"), adopted <br />Resolution 87-139 on November 24, 1987, wherein the County <br />authorized the issuance of its Variable Rate Demand/Fixed Rate <br />Industrial Development Revenue Refunding Bonds (Florida <br />Convalescent Centers, Inc. Project), in the aggregate principal <br />amount of $4,800,000 (the "Bonds"), for the purposes of refinancing <br />the cost of Ucquisition, construction and equipping of the facility <br />owned by Florida Convalescent Centers, Inc. (the "Corporation") <br />consisting of certain land, buildings, structures and equipment <br />comprising a skilled and intermediate care nursing home facility <br />(the "Project") which is located at 1755 37th Street, Vero Beach, <br />in Indian River County, Florida, and refunding the entire <br />outstanding principal amount of the County's $4,800,000 Industrial <br />Development Revenue Bond, Series 1986 (Florida Convalescent <br />Conters, Inc. Projoct) (the "Prior Bond"), issued to provide <br />initial financing for the Project; <br />WHEREAS, the County is authorized to issue the Bonds to <br />refinance the Project and refund the Prior Bond pursuant to the <br />provisions of the Florida Industrial Development Financing Act, <br />Part II of Chapter 159, Florida Statutes, as amended; and <br />WHEREAS, in order to satisfy the requirements of Section <br />147(f) of the Internal Revenue Code of 1986, as amended, the County <br />held a public hearing on the proposed issuance of the Bonds on the <br />date of adoption hereof, more than 14 days following the first <br />publication of notice of such public hearing in a newspaper of <br />general circulation in Indian River County, Florida (a true and <br />accurate copy of the publication of notice is attached hereto as <br />Exhibit "A"), which public hearing was conducted in a manner that <br />provided a reasonable opportunity for persons with differing views <br />to be heard with regard to both the issuance of the Bonds and the <br />location and nature of the Project; and <br />