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RESOLUTION NO. 2000-044 RESOLUTION OF INDIAN RIVER COUNTY, FLORIDA CONSENTING TO THE AMENDMENT TO THE AGREEMENT BETWEEN TRUSTEE AND REGISTRAR AND PAYING AGENT WITH RESPECT TO ITS VARIABLE RATE DEMAND/FIXED RATE INDUSTRIAL DEVELOPMENT REVENUE REFUNDING BONDS (FLORIDA CONVALESCENT CENTERS, INC. PROJECT), SERIES 1988A; AUTHORIZING THE EXECUTION AND DELIVERY OF CERTAIN RELATED DOCUMENTS AND CERTIFICATES; AND PROVIDING CERTAIN OTHER DETAILS AND AN EFFECTIVE DATE. BE IT RESOLVED BY THE BOARD OF COUNT COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA (the "County"), that: SECTION 1. AUTHORITY. This Resolution is adopted pursuant to Part III of Chapter 159 of Florida Statutes, as amended, and other applicable provisions of law (collectively, the "Act"). SECTION 2. DEFINITIONS. All capitalized terms not otherwise defined herein shall have the meanings ascribed to those terms in the Indenture of Trust, dated as of March 1, 1988, as amended (the "Indenture"), by and between the County and SunTrust Bank, as successor to Thud National Bank in Nashville, as Trustee (the "Bond Trustee"). SECTION 3. FINDINGS. The County finds, determines and declares that: A. The County has issued its Variable Rate Demand/Fixed Rate Industrial Development Revenue Refunding Bonds (Florida Convalescent Centers, Inc. Project), Series 1988A (the "Bonds") pursuant to the Indenture and a Loan Agreement, dated as of March 1, 1988, as amended (the "Loan Agreement"), between the County and Florida Convalescent Centers, Inc. (the "Borrower"). B. As security for the payment of the Bonds, the Bond Trustee currently holds the letter of credit of The Toronto -Dominion Bank (the "Replaced Letter of Credit") as the Credit Facility under the Indenture and the Loan Agreement. The Indenture and the Loan Agreement authorize the substitution of the Replaced Letter of Credit with a Substitute Qualified Credit Facility. The County has been advised that the Borrower intends to deliver to the Bond Trustee a Substitute Qualified Credit Facility issued by Norwest Bank, National Association (the "Substitute Qualified Credit Facility") to replace the Replaced Letter of Credit pursuant to the terms of the Indenture.