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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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.\gr•?~:a~nt.; :lnd, in case the Borrower shall fail 'l'..O make such <br />ray~~nt.s or :>bserve such covenants and agreement.s, the Issuer <br />11ill institut.e and prosecute all such legal proceedings as may be <br />.:iprropri.it.c for the protection of the holders of the nonds. <br />Section 11.5 Amendatory Agreement. (a) Prior to the <br />issu.:il\c~ of .:1ny Additional Bonds under the provisions of Section <br />J:J oft.his tndenture, the Issuer will, if necessary, enter into <br />an appropriate agreement amendin3 the Loan Agreement., Such amen- <br />datorJ l<Jreement shall increase, if necessary, the Payments to be <br />:n.iJe Jnder the Loan Agreement to an amount which, including any <br />~rovia1on incluJed therein for payment o f Administration <br />~X?ensds, shall be sufficient to provide for payment of the prin- <br />~1ral ~f ~nu interest and redemption premium, if any, on such <br />Au,li.t.ion.:il aonus as the same shall become due and payable in <br />accorJance ~ith their terms. In addition, such amendatory <br />.l-Jr•?~::i\3n t .;h.:i 11 make such other revisions in the Loan Agreement <br />.:is .·1r :? :1.Jcessitated by the issuance of such Additional 13ondsi <br />pr:ov1J.:?d, however, that such other revisions ohall not adversely <br />dff~cc :he ri~hts of the hol<lers of Outstanding Bonds, as granted <br />t~em ~nJe r the terms of this lndenture, <br />(bl 'rhe Issuer shall not iss ue any Additional Oonds <br />under t:.he rrovisions of Section 3.4 of this Indenture for the <br />pur9ose of r~funding all or any part of the Bonds of any one or <br />more s<?ries unless the payments under the Loan Agreement, after <br />Jeuuc:in1 ther~from any provisions included therein foe the <br />pay~ent of Administration 8xpenses, shall be sufficient to pro- <br />'J 1-.l'.? Eor pay:nent. of the principal of and interest and redemption <br />!)ru1n1um, if .:iny, on all 13onus which will be Out.s tanding u pon the <br />issual\ce of such Additional Oonds as the same become due and <br />i,).:iyai:>113. <br />Section 11.6 Discretion of the Trustee . In the case of <br />an·/ -im e nJrmmts or supplements authorized under the provisions of <br />this ,\rt.icle, the 'l'rustee shall be entit.led to exercise its <br />Jis~r~cion in determining whether or not any proposed amendment <br />or ~upplement, or any term or provision therein containert, is <br />proper ~r Jesirable, having in view the purposes of such in~tru- <br />ment, th4.? nee<ls of the Issuer, the n or rower and the Project an<l <br />the ri Jnts anu interests of tho Bondholders, and the ·rrustee <br />3halL not be under .:iny responsibility or liability to the I3suer, <br />th~ ilorr0wer or to any Bondholder oc to anyolle whomsoever for any <br />~ct 0r chinJ which it may in good faith do or Jeclinc to do under <br />th~ provisions of Section 11.l through 11.4 hereof, The Trustee <br />shall be ~~t.it leu to receive, anJ shall be fully protecteu in <br />rclyin1 upon, an opinion of inde pendent counsel acceptable to it <br />,1:1 conclu::;ive ~viuence that any such i'imenJment or supplement <br />-71-
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