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1983-022
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1983-022
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3/23/2023 10:08:21 AM
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Resolutions
Resolution Number
1983-022
Approved Date
03/16/1983
Subject
Authorizing the execution & delivery by IRC of a letter of intent & inducement to
Florida Health Facilities Corp. to isuance by County of not exceeding $3,500,000
Industrial Development Revenue Bonds
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• <br />Florida Health Facilities Corp. <br />(of Indian River County) <br />March 16, 1983 <br />Page 3 <br />responsible as described in paragraph 8 hereof) so long as there <br />shall be no material adverse change in your financial condition; <br />provided, however, if for any reason (other than that which shall <br />be the fault of the Issuer) the bonds are not delivered to the <br />purchaser or purchasers thereof within one year from the date <br />hereof., then the provisions of this proposal. and the agreement <br />resulting from its acceptance by yor will be deemed cancelled. In <br />such event, or in the event of its earlier cancellation by agree- <br />ment batween you and the Issuer, neither party shall have any <br />rights against the other and no third party shall have any rights <br />against either party except: <br />(a) You will. pay to the Issuer the amount of all <br />expenses which shall have been incurred by the Issuer in connec- <br />tion with the Project, and any administrative fees of the Issuer <br />in reviewing and processing your bond issuance application. <br />(b) You will assume and be responsible for all con- <br />tracts entered into by the Issuer at your request in connection <br />with the Project; and <br />(c) You will pay the out-oE-pocket expenses of offi- <br />cials and representatives of the Issuer incurred in connection <br />with the Project and will pay counsel for the Issuer and the firm <br />of Freeman, Richardson, Watson & Kelly, P.A., bond counsel, legal <br />fees for legal services related to the Project or the financing <br />thereof.. <br />6. The Issuer shall not be obligated to pay any of the <br />bonds or the interest thereon from any funds of. the Issuer derived <br />from any source other than the Agreement and Note, or any guaranty <br />agreement by third parties, and in no event may the taxing power <br />or other revenues of the issuer be pledged to pay any of the bonds <br />or the interest thereon. I.ach bond shall contain a statement sub- <br />stantially to that effect upon its face. The Issuer shall not be <br />required to incur any expense with respect to the Project or the <br />bonds unless requested to do so by you, in which event you hereby <br />agree to reimburse the full amount of such expense to the Issuer.; <br />and the Issuer may require payment to it of such amount as a pre- <br />requisite to its incurring any such expense. In accepting this <br />proposal, you thereby agree to indemnify and defend the Issuer and <br />hold the Issuer harmless against any injury or death of any person <br />or persons occurring in connection with the construction, equip- <br />ment and operation of the Project, or in any way growing out of or <br />resulting from this proposal (upon its becoming an agreFAment, if <br />accepted) including, without limitation, all costs and expenses of <br />the Issuer, including reasonable attorneys' fees, incurred in the <br />
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