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10-82 Issue Hospital Improvement Bonds
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10-82 Issue Hospital Improvement Bonds
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Last modified
5/14/2013 3:04:38 PM
Creation date
8/21/2003 6:59:00 AM
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Office Of Council
Document Type
Ordinances
Date
8/21/2003
Date Adopted
2/16/1982
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(7) <br /> <br />(8) <br /> <br />(9) <br /> <br />(lO) <br /> <br />estimated by the Issuer, if acquired by <br />the Issuer without cost or at nominal <br />cost. <br /> <br />A request and authorization ~o the <br />Trustee on behalf of the Issuer signed <br />by its Executive or its Fiscal Officer, <br />to authenticate and deliver the Parity <br />Obligations to, or on the order of, the <br />purchaser thereof who is therein identi- <br />fied, upon payment to the Trustee for <br />the account of the Issuer of a sum <br />specified in such request and authoriza- <br />tion plus accrued interest, both of <br />which shall be deposited as provided in <br />the supplemental indenture and executed <br />in connection with the issuance of such <br />Parity Obligations. <br /> <br />The written opinion of counsel for the <br />Issuer, to the effect that the issuance <br />of the Parity Obligations has.been duly <br />authorized and that all conditions <br />precedent to their delivery have been <br />fulfilled. <br /> <br />The opinion of nationally recognized <br />bond counsel that the Parity Obligations <br />proposed to be issued are permitted by <br />the Indenture and have been duly autho- <br />rized, and will, when delivered and paid <br />for, be the valid and binding special <br />obligations of the Issuer on a parity of <br />lien with the $5,900,000 of Bonds secured <br />hereby. <br /> <br />In tile case of Parity Obligations to be <br />issued for the purpose of refunding any <br />outstanding Bonds, evidence satisfactory <br />to tile Trustee (i) that provision has <br />been made to assure that moneys suffi- <br />cient to retire the Bonds to be refunded <br />will be available in the possession of <br />the Trustee at the time provided for <br />retirement thereof under the plan for <br />refunding and are committed to such <br />purpose and (ii) that moneys sufficient <br />to pay interest accrued and to accrue <br />and principal and premium, if any, <br />payable on such Parity Obligations prior <br />to such retirement of the Bonds to be <br />refunded thereby, have been deposited in <br />the Debt Service Fund without impairment <br />of any provision or convenant of the <br />Indenture, and from sources other than <br />from the operation of the Hospital <br />Facilities and other than tile Debt <br />Service Reserve Fund or the Surplus fund <br />except to the extent of any moneys in <br />such funds in excess of the balances <br />required to be maintained therein under <br />the provismons of the Indenture, the <br />transfer of which excess moneys for such <br />purposes is hereby authorized, or will <br /> <br />-31- <br /> <br /> <br />
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