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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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biJs 0r ~ther•,1ise and with or without rece iving tenders) as it in <br />it:. li:;cc•.?tion shall determine . Upon the retirement of ,:1.ny Bonds <br />by p ur~hase oc re<lemption pursuant to this section, the Trustee <br />:.t1,1ll prornptl/ notify the Issuer and the Oorrowel'.' of the unpaid <br />pri11Cl:;Jal 1mount and ma turity of such Bonds, the amount of the <br />purchase ~>rice or the Redemption Price of such Bonds, the amount <br />paLJ -1s i.nc.erest thereon and the amount remaining in the Redemp- <br />tion ,\ccount after such purchase or redemption. The ex:penses in <br />connection with the pul'.'chase or redemption of any Bonds pursuant <br />to this 5o:?ction shall be paid from money in the Redemption <br />Account. <br />,.,,henever the amount in the 13ond Fund from any source <br />•,1hat:.oever is sufficient t.o effect the redemption of all <br />Jut.st.,1nJin~ ilonds on the earliest date at which they may be <br />rcJcemeJ i.n accordance with the provisions of this Indenture, and <br />to pa'/ -111 interest ·.1hich may accrue thereon on or prior to such <br /><lat~, th~ ~rus tec shall take appropriate action to redeem all <br />such JonJs on such date and the money held in the Bond Fund <br />sn.1 l l oe ,,ppl ied to the redemption of such Bonds and to the <br />pay~ent Jf $UCh interest and, when such redemption shall have <br />·::,een >Jffe~tetl, no further payments into the Oond Fund need be <br />:nade. <br />Section 5,2 Release of Funds Upon P,:1.yment of Bonds. <br />Any a;naunt.s remaining in the Don.J Fund after payment in full of <br />t~e ilonJs, the Administration Expenses and all other amounts <br />re~uireJ to be paid hereunder shall be paid or applied as pro- <br />v1Jcd in the Loan Agreement if there is no default thereunder. <br />Section 5,3 Trustee as Paying Aqent and Registrar . The <br />Tru:;tl?!e i.l i1ereby designated and agrees to act as a Paying /\gent <br />aml .:is Jond Registrar for and in respect to the OonJs. <br />Section 5,4 Payments Due on Sundays and llolidays. In <br />any c.J.se ·,1her C! the date of maturity of interest on or principal <br />of the 3on~G or the Redemption Date shall be in the place of <br />pdy~ent, ~ Sunday or legal holiday or a day on which banking <br />institutions are authorized by law to close , then payment of <br />interest. or principal and premium, if any, need not be made on <br />such Jat~ in such city, but may be made on the next succeeding <br />busi~ess Joy not a Sunday or a legal holiday, or a tlay upon which <br />baniting institutions are authorized by law to close, with the <br />sa.ne force anJ effect as if made on the date of maturity or t.he <br />date fixe..l for redemption or pay;nent, and no interest shall <br />accrue for the period after the stated date for payment. <br />Stacti.on 5. 5 Security for Funds. The money ,'lt any time <br />on 1Ci)03it in the Project Fun<.l anc.l the 13onc.l ~•uml shall he anJ. at <br />-41-
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