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1983-102
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1983-102
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Last modified
3/28/2023 3:08:25 PM
Creation date
3/28/2023 3:04:57 PM
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Resolutions
Resolution Number
1983-102
Approved Date
10/19/1983
Subject
Providing for the financing of the acquition construction & equipment of a
120 Bed Nursing Home Facility located on 37th Street, Providing for Industrial
Development Revenue Bonds (Florida Health Facilities Project)
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t"l!~llrv,~ ~,stem .::o,nmercial banks; provided, that, except as <br />,lut.!1(.)c-i.!ed in clause (h) below, no such money shall be invested <br />i.n ..>·\11,.-;~rs' .:icceptances or in certificates of deposit of fedei:-al <br />t''.!s,]rv~ s yst t?m commercial banks \~ith capital and surr,lus of less <br />t.h~n S2J,0OO,OOO; <br />(h) bankers' a c ceptances drawn on and accepteo by the <br />-~~uste~ 1nd certificates of Jeposit issueJ by the Trustee: or <br />(i) repurchase agreements fully secnre d by ob ligations <br />issu~J or 3uaranteed as to principal and interest by the United <br />Jt.~~~s of ~nerica. <br />"Issuer" sha ll mean Indian River County, a political <br />3u:.>-ii.•11.sion of t.he State of Fl orida. <br />"Loan" shal 1 mean the loan from the Issuer to the <br />Jo r r~~er Jur s ~ant. to the Loan ~greement, <br />"[,oan ,\greement" or "Agreemi.?nt" s hall mean the Loan <br />:\-Jrce1:1~nt., :,1ortga']e and Security i\gr-eement, dated as o f the date <br />ner~ui, aec.ween the Issuer an~ the narrower. <br />":.\ort3age" sha l l mean the mortgage ']ranted to t he Issuer <br />by cne ~orro~er pursuant to Section 4,5 of the Loan Agreement, <br />"'.let Proceeds," when used with respect to any insurance <br />•.>r ::0:1 lemnat.ion a\-1ard, shall me-'.ln the gross proceeds from the <br />in:;ur.:tnce Jr condemnation award with respect to which that term <br />is ·JseJ remaining after paym ent of all reasonable expenses <br />(incluuin:1 reasonable attorneys' fees and any extraordinary fee <br />of ~ne rrustee) incurred in the coll~ction of such gross pro- <br />ce~d:;. <br />":lote" s hall ine.:\.n tl'l"it Promissory Note in the f orm <br />att.1che<l hereto as tXhibit "Il" given to the Issuer by the <br />aorr~wer, and ~ny supplemental Note. <br />"Outstanding," when used with reference to Ilonds, sh.:ill <br />:n eaI1, ~X C(l [lt. ,J.s otherwise provided in Article XII hereof, at any <br />,iate .,s v f ·.-1hich the amount of outstan<ling Oonds is to he <br />•Jct.<:!r;:n:11:!<.l, the ,lq gregat.e of all Oonds authorized, issue<.], <br />.:,ut.:1e11t.ic:1te,l aoJ delivered under this indenture, except: <br />(~) Bonds cancelled or surren~ered to the Trustee for <br />can~ellat.ion pursuant t o Section 2.11 of this Indenture on or <br />priJr ~a such Jate; <br />-17-
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