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RESOLUTION NO. 24- 0 7 7
<br />A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF
<br />INDIAN RIVER COUNTY, FLORIDA APPROVING THE ISSUANCE BY THE
<br />ORANGE COUNTY HEALTH FACILITIES AUTHORITY OF ITS HOSPITAL
<br />REVENUE BONDS (ORLANDO HEALTH OBLIGATED GROUP) IN AN
<br />AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $200,000,000, WITH
<br />RESPECT TO THE FACILITIES IN INDIAN RIVER COUNTY, FLORIDA, IN
<br />ONE OR MORE SERIES OVER THE LONGEST PERIOD PERMITTED BY
<br />LAW, FOR THE BENEFIT OF ORLANDO HEALTH, INC., A FLORIDA NOT-
<br />FOR-PROFIT CORPORATION.
<br />WHEREAS, the Orange County Health Facilities Authority (the "Orange County
<br />Authority") has been created pursuant to the Health Facilities Authorities Law, Part III of
<br />Chapter 154 of the Florida Statutes, as amended (the "Act"); and
<br />WHEREAS, Orlando Health, Inc., a Florida not-for-profit corporation ("Orlando
<br />Health") has requested the Orange County Authority to issue its Hospital Revenue Bonds
<br />(Orlando Health Obligated Group) under a plan of finance in an aggregate principal
<br />amount not to exceed $200,000,000, with respect to facilities in Indian River County,
<br />Florida, in one or more series over the longest period permitted by law; and
<br />WHEREAS, the proceeds of the bonds issued under such plan (the "Bonds") will
<br />be loaned to Orlando Health, Inc., Inc., a Florida not-for-profit corporation ("Orlando
<br />Health"), and used to (a) currently refund all or a portion of the outstanding Orange County
<br />Health Facilities Authority Taxable Hospital Revenue Bonds (Orlando Health Obligated
<br />Group), Series 2024B, issued in the original principal amount of $439,000,000, the
<br />proceeds of which were used to finance, refinance, or reimburse the costs of acquiring
<br />certain hospital and health care facilities at the locations listed below, (b) provide one or
<br />more debt service reserve funds for the benefit of all or a portion of the Bonds, if deemed
<br />necessary or desirable, (c) pay a portion of the interest to accrue on the Bonds, if deemed
<br />necessary or desirable, (d) pay certain working capital expenditures, if deemed necessary
<br />or desirable, and (e) pay certain costs of issuance of the Bonds, including the costs of
<br />any credit or liquidity enhancement thereof, if deemed necessary or desirable; and
<br />WHEREAS, the Bonds will be qualified 501(c)(3) bonds (as defined in Section 145
<br />of the Internal Revenue Code of 1986, as amended), and the proceeds of the Bonds will
<br />be used to refinance the costs of acquiring, the hospital and healthcare facilities, including
<br />related land improvement costs, working capital expenditures and equipment (including,
<br />but not limited to, medical equipment, computer equipment, office equipment and general
<br />building equipment and fixtures) used at the hospital and healthcare facilities listed below.
<br />The initial principal user and owner and the maximum aggregate principal amount of
<br />Bonds to be issued under the plan of finance described above for such facility is listed
<br />below.
<br />Orlando Health Sebastian River Hospital, a 145 -bed acute care
<br />hospital and related medical clinics, offices, parking and ancillary facilities located
<br />
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