34-70 Revenue bonds to improve hospital

Home Browse Search

principal of ].::~prov,:mcnt ]lends in fu]]r r~:i;i::turcd" .... ~u, ~:, :;h:~.[.'[ bc ,?.'al,lc ~:j' ~ out deduction for serviccs as thc I~,u~'-~ "''"., payin(; agent, at tbs ce.j.- ~oTM...... ' e tru::z office of thc 'i'rustca, presently The Ohio National Bank of Columbus', Ohio · Interest on fully rc[;i[;t,:rcd Ir. provc:.:.2nt ]~on,fis sh~lk'~ bt ........ ~,~, chock or draft as provided in th~ Indent~e. , l,.. ..... ~a h:.' The Improvement Bonds shall be signed by the L:.:ecutive and Fiscal Offic~ of the issuer, provided that all of such signatures :.-..-_.y bc facsimiles, and shall boar the seal, or a fac:~i].~ile thereof, of the !ssuar and the interest coupons thereon shall bear the facsimile s~gnatu:'e of the Fiscal O:'ficer. When used in this legislation, "Executive" shall mean thc Mayor, "Fiscal Officer' shall me:,-n the Director of Finance and "Legal Officer" shall mcan the birccacr of Law. A~/v officer, commission or Lo:u-d which hereafter :;ucceeds, by or~raticn of law, to the Dowers and duties of any such officers shall be deemed in~!uded in the applicable official designation while having such powers and duaies. The Indenture referred to herein is the trust indenture hereinafter provided for betl..~een tile Issuer and The Ohio National Bank of Columbus, Ohio , bank organized under the laws of United States and. qualified to exercise trust powe~rs (herein with its successors called/the "Trustee"). When Used in this legislation "Pledged Revenuer or "Revenues" means all revenues derived by the Issuer from the operation of the Hospita_l Facilities or from leasing or contracting for the operation thereof. Sebtion 3. Sale of Imorovement Bonds. The Improvement Bonds be and they are hereby awarded and sold to Eastman Dillofi, Union Securities & Co.; McDon~ld & Company; and Ball, Burge & Kraus and Associates, (such underwriters being hereinafter collectively referred to as "Original Purchaser") at a price of $ 9?0.00per $1000.00 of principal ~moun-t of Improvement Bonds, together with accrued interest from the date thereof- to the date of delivery of the Improvement Bonds to the. Original Purchaser and payment therefor. The Executive and Fiscal Officer be'?and they are hereby authorized and directed to make the necessary arrangements on behalf of the Issuer with the Original Purchaser to establish the date, location, procedure and conditions for delivery of the Improvement Bonds to the Original Purchaser and the Executive and Fisc~.l Officer are authorized and directed to take all steps necessary to effect due authenti- cation, delivery and security of the Improvement Bonds pursuant to this legisla- tion and the Indent%~e. Section 4. Proceeds of Imorovement Bonds -- The proceeds from the sale of the. Improvement· Bonds shall be allocated and hereby are appropriated to the following ~" ~ds, hereby established: (a) $656,000.00 to the Debt Service Fund; and (b) the entire balance of such proceeds, to the Const~action Fund. The Construction Fund shall consist of~ the portion of the proceeds of the Improvcrcn% Bonds provided for in this section it'.~d ,ouch add.itional ~mounts as r.~ay be paid therein by the Issuer whether from its own sources, federal or state grants-in- a~d o9 donations received by the Issuer for such purpose; shall be naintainc,a by tile Issuer in a deposit account fully secured by direct ob!igat~ons of the