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1986-050
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1986-050
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Last modified
5/23/2023 2:26:27 PM
Creation date
5/23/2023 2:26:16 PM
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Resolutions
Resolution Number
1986-050
Approved Date
08/07/1986
Subject
Issuance of $4,800,000 Industrial Developmentt Revenue Bond, Series 1986,
(Florida Convalescent Centers, Inc. Project); Authorizing the loan of the proceeds
from such bond to Florida Convalescent Centers, Inc. in order to finance the cost
of the acquisition, construction
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40 <br />40 <br />SECTION 11. AUTHORIZATION OF EXEC(TTION OF MORTGAGE AND SECURITY <br />AGREEMENT. The County hereby authorizes and directs its Chairman to execute and <br />does hereby authorize and direct the execution and delivery of the Mortgage and <br />assignment thereof to the Trustee. All of the provisions of the Mortgage when <br />executed and delivered by the County as authorized herein and when duly <br />authorized, executed and delivered by the Corporation shall be deemed to be a <br />part of this Resolution as fully and to the same extent as if incorporated <br />verbatim herein, and the Mortgage shall be in substantially the form of the <br />Mortgage attached hereto as Exhibit C with such changes, amendments, <br />modifications, omissions and additions, including the date of such Mortgage, as <br />may be approved by said Chairman. Execution by the Chairman of the Mortgage <br />shall be deemed to be conclusive evidence of approval of such changes. <br />SECTION 12. APPOINTMENT OF TRUSTEE. The Citizens and Southern <br />National Bank, whose principal office is in Atlanta, Georgia, is hereby <br />designated Trustee, Bond Registrar and Paying Agent for the Bond under the <br />aforementioned Indenture. <br />SECTION 13. GENERAL AUTHORITY. The mrmbers of the Board and the <br />officers, attorneys and other agents or enployees of the County are hereby <br />authorized to do all acts and things required of them by this Resolution, the <br />Agreement, the Indenture, the Mortgage and the Note, or desirable or consistent <br />with the Requirements hereof or the Agreement, the Indenture, the Mortgage and <br />the Note for the full puncutal and complete performance of all the terms, <br />covenants and agreements contained in the Bond, this Resolution, the Agreement, <br />the Mortgage, the Note and the Indenture and each member, employee, attorney and <br />officer of the County or its Board is hereby authorized and directed to execute <br />and deliver any and all papers and instruments arra to do and cause to be done <br />any and all acts and things necessary or proper for carrying out the <br />transactions contemplated. <br />SECTION 14. DEFINITIONS. Unless the context clearly otherwise <br />requires, any capitalized word or term used but not defined herein is used as <br />defined in the Indenture. <br />SECTION 15. SEVERABILITY AND INVALID PROVISIONS. If any one or more <br />of the covenants, agreements or provisions herein contained shall be held <br />contrary to any express provision of law or contrary to the policy of express <br />law, though not expressly prohibited, or against public policy, or shall for any <br />reason whatsoever be held invalid, then such covenants, agreements or provisions <br />shall be null and void and shall be deemed separable frau the remaining <br />covenants, agreements or provisions and shall in no way affect the validity of <br />any of the other provisions hereof or of the Bond issued hereunder. <br />SECTION 16. REPEALING CLAUSE. All resolutions or parts thereof of <br />the County in conflict with the provisions herein contained are, to the extent <br />of such conflict, hereby superseded and repealed. <br />- 5 - <br />
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