34-70 Revenue bonds to improve hospital

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' (J) In the case of Pa~-ity Oblil;ations to bc issu¢,d rot ~} lc r.:" of refunding any outstanding Bonds, evidence satisfactory to the 7~ustc~. (i) that~provision has been made to assure that moneys sufficient to r~[t~rc the Bond~ to be refunded will be avail, able in the possession of the TrUstee ab the ti]:!e provided for rctirc~nent thereof under the plan for refundinz ~nd are co~;mlittcd to such pur]~ose m~d (ii) that moneys sufficient to pay interest accrued and to accrue and principal and pr'er:i~, if any~ payable on such Parity Obligations prior to such retirement of the Ponds to be refunded thereby, have been deposited in the Debt Service Fund ~ithout inpa~r~cnt of any provision or convcnant of the Indent~e, ~d from sources other than from the operation of the Hospit~ Facilities and other than the Debt Service F~ld or the Surplus Fund except to the extent of any moneys in such funds in excess of the balances required to be maintained therein ~der the provisions of the Indenture, the transfer of %'hich excess moneys for such purposes is hereby authorized~ or will be deposited directly in the Debt Service Fund from appropriate ~rtions of the proceeds from the s~e of such P~i~y Obligations In making the calculation for purposes of the study of the independent certified public accountant or firm of accountants provided for in paragraph (a) above, in the case of issuance of' Parity Obligations for refunding any outstanding Bonds,~payments into the Debt Service Fund on account of interest, premium and principal requirements of such Parity Obligations shall be used in lieu of and to the.exclusion of such payments on account of interest, premi-~u and principal requirements of the Bonds being refunded thereby. To the extent that the .amount of deposits required to be made under the Indenture are to be determined on the basis of the principal amount or principal and int.erest requirements of Bonds outstanding, in determining the amounts of such deposits made or to be made while there remain outstanding Bonds for the refunding of which Parity Obligations have been issued, the principal amount andprincipal and interest requirements of such Parity Obligations shall be disregarded. '- Upon receipt of the document required by the foregoing provisions of this Section be furnished to it, the Trustee shall~ unless it has cause to believe any of the statements set out in said documents to be incorrect, thereupon auShenticate the Parity Obligations proposed to be issued. %~en so authenticated, the Trustee shall deliver the Parity Obligations with all unmatured coupons thereunto attached upon the order of the Issuer to the purchaser or purchasers.thereof, upon the payment therefor by such purchaser or purchasers to the Issuer of the purchase price therefor. The receipt of the Issuer shall be full acquittal to the pu~-chaser or purchasers for the purchase price of the Parity Obligations, and such purchaser or purchasers shall be under no obligation to see to the application thereof. The proceeds of the sale of any of the Parity Obligations shall, however, be held in trust and~ except for Parity Obligations. issued for the purpose of refunding of outstanding Bonds, disposed of onl~ for the payF. ent of the expenses of the issuance thereof, the payment of interest thcr6on during the acquisition or construction of tile proposed new facilities and the balance paid into the Construction Fund to be disbursed fo~ the cost of acquiring or Constructing the proposed new facilities as provided in this legislation and in the ].ndcnture. The proceeds of Parity Obligations issued for the purpose of refundin;~ out- standing Bonds shall be disposed of as provided in tile supplemental indenture - ll -