1983-102 - Laserfiche WebLink

Home Browse Search

AR'l' IC LE II DESCRIPTION, AUTHORIZATION, MANNER OF EXECUTION, AU'l'HENTICATION AND 'rRANSFER OF BONDS Section 2.1 Authorization of Bonds, Limitation on Amount of Bonds and Purposes for Which Bonds May be Issued. This Indenture secures an issue or issues of Bonds of the Issuer, the aggregate principal amount of which (exclusive of substitute Bonds issued pursuant to Section 2.5 hereof and Additional Bonds issued pursuant to Section 3.3 hereof 1 will not exceed $2,400,000 to be ~esignated generally as "Industrial Development Revenue Doncls, Series 1983 {Florida Health Facilities Project)," to be issued as hereinafter provided; and creates a continuing pledge as provided by this Indenture to secure the full and final payment of the principal of and redemption premium, if any, and interest on all of th~ Bonds as the same shall become due and payable. The Bonds shall be issued for. the purpose of providing funds to be loaned to the Borrower to pay the Cost of the Project, and the Issuer shall be obligated to apply the proceeds thereof towards such loar, for the payment of such Cost. Section 2,2 Source of Payment of Bonds: Security. The Bon<Js herein authorized and all payments by the Issuer hereunder are special obligations of the Issuer payable sol e ly from the Trust Estate. The Bonds are secure.J by the Trust Estate in the manner provided herein. Neither the State nor any political sub- division or instrumentality thereof shall be liable for payment of the principal of, redemption preiniurn, if any, or interest on the Bonds or for the performance of any pledge, obligation or agreement of any kind whatsoever which is undertaken by the Issuer or the narrower. Neither the Bonds nor a ny a greement of the Issuer shall be construed to constitute an indebtedness of the Issuer or the State within the meaning of any constitut.ional or statutory provision whatever. Anything herein to the contrary notwithstanJing, (a) the Issuer shall never be require~ to (i) levy any ad valorem taxes on any property within its jurisdictional territorial limits to pay the pr·incipal of or premium , if any, or interest. on the [lonJs or to make any other payments providad under the Loc1n l\greerncnt or this Inden- ture, (ii) pay the sanw from any funds of the Issuer other than the Trust Es tate, or (iii) require or enforce any payment or performance by the Borrower as provided in this Article II or elsewhere in this Inuenture or in t.he Loan ,\gree111ent unless the! Issuer's expen::ics in respect. thec:-eof shall be available from any money derived unJcr. -22-