10-82 Issue Hospital Improvement Bonds

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succeeds, by operation of law, to the powers and duties of any such officer shall be deemed included in the applicable official designation while having such powers and duties. Section 4. Sale of the Series 1982 Bonds. The Series 1982 Bonds are hereby awarded and sold to E.F. Hutton & Company Inc. and McDonald & Company (hereinafter collectively referred to as the "Original Purchaser") at a price per $1,000.00 of principal amount of Series 1982 Bonds to be determined by the Executiive and the Fiscal Officer, together with accrued interest from the date thereof to the da%e of delivery of the Series 1982 Bonds to the Original Purchaser and payment therefor; provided, however, that the price per $1,000 of principal amount of Series 19S2 Bonds so determined shall not be less than $960.00. The Executive and Fiscal Officer are hereby authorized and directed to execute on behalf of the Issuer a Contract of Purchase between the Issuer and the Original Purchaser setting forth the date, location, procedure, and conditions for delivery of the Series 1982 Bonds to the Original Purchaser, and the Executive and Fiscal Officer are hereby further authorized and directed to take all steps necessary to effect due authentication, delivery, and security of the Series 1982 Bonds pursuant to the Bond Legislation and the Indenture. Section 5. Proceeds of Series 1982 Bonds. The net proceeds from the sale of the Series 1982 Bonds, after paymen5 of the expenses of the issuance thereof, shall be allocated and are hereby appropriated to the following funds established under the Bond Legislation: (a) an amount of capitalized interest which, together with any portion of such net proceeds which represents accrued interest, shall be sufficient for the payment of interest on the Series 1982 Bonds during the twenty-four month period fo2~owing the -10-