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1983-125
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1983-125
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Last modified
3/30/2023 12:34:46 PM
Creation date
3/30/2023 12:34:25 PM
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Resolutions
Resolution Number
1983-125
Approved Date
12/21/1983
Subject
Awarding $2,400,000 Industrial Development Revenue Bonds, Series 1983
(Florida Health Facilities Project) of IRC, at negotiated sale to the purchaser &
providing an effetive date
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.. . <br />(h) The go v er ning body of the County s h all h ave adopted <br />t h e Resolution a n d executed and delivered the I n de ntur e substan- <br />tially in t h e for ms thereof f u r n ished the Purchaser , ··ri th such <br />changes, if a n y , as shall be approved by the County, the Borrower <br />and the Purchaser. <br />(i ) The County and the Borrower shall have executed and <br />delivered the Loan Agreement substantially in the form thereof <br />f u rnished the P u rchaser , with such changes , if any, as shall be <br />approved by the County, t h e Borrower arj the Purchaser. <br />(j) All recordings and filings of , or with respect to, <br />the Loan Agr eeme nt (i n cluding the Mortgage and the Security <br />Interest, as defined in the Loa n Agreement ), and all necessary or <br />appropriate financing statements relating thereto, shall have <br />be en duly recorded or filed in all such places as may be required <br />by law, or as may be deemed necessary or desirable by the <br />Purchaser and the Trustee , in order to establish , preserve , pro- <br />tect and perfect the interest and rights created or i ntended to <br />be created thereby. <br />(k ) Th e 1983 Bonds shall be validated by the Circuit <br />Court for Indian River County, Florida. <br />3.2. Additional Bonds. The County reserves the right , <br />at the request of the Borrower, to issue additio nal industrial <br />development revenue bonds in accorda nc e with the provisions of the Indenture. <br />3.3. 1983 Bonds Restricted. 'I'he Purchaser acknowledges <br />and agrees that the 1983 Bonds shall be issued only as fully <br />registered bonds. <br />3.4. Miscellaneous. <br />(a ) All covenants, agreements, representations and <br />warranties mad e herein and in the certificates delivered pursuant <br />hereto shall s urvive the purchase by the Purchaser of the 1983 <br />Bonds, and shall continue in full force and effect so long as any <br />of the 1983 Bonds are outstanding a nd unpaid; and all covenants <br />and agreements in this Agreement shall be binding upon and inure <br />to the ben efit of the respective successors and assigns of the <br />parties hereto. <br />(b ) Upon the occurrence of an Event of Defau lt un der <br />the Indenture, the Guaranty or the Loan Agreement (other than one <br />resulting from a default by the County) a nd if t h e Purchaser at <br />the time hol ds any of the 1983 Bonds, it will, or will seek to <br />-8-
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