10-82 Issue Hospital Improvement Bonds

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is hereby amended to read in its entirety as follows: "Section 10. Covenants of Issuer. The Issuer hereby covenants with the holders of the Bonds and the Trustee that: (a) The Issuer will promptly and econo- mically construct the 1982 Project with the moneys in the Series 1982 Construction Fund, provided that the aggregate cost of the 1982 Project will not exceed the moneys available therefor in the Series 1982 Construction Fund; (b) Within its power so to do, the Issuer will at all times prescribe and charge such rates for the services rendered by the Hospital Facilities to the users thereof, or will provide by lease or contract with others for the charging of such rates and the making of payments to the Issuer of rentals or other considerations for the use and operation of the Hospital Facilities, and will so restrict the expenditures of the Issuer for the operation and maintenance of the Hospital Facilities, as shall result in Hospital Facilities revenues at least adequate, after meeting such operation and maintenance expenses of the Issuer above provided, to provide for (i) the payment provided by this legislation to be made into the Debt Service Fund, Debt Service Reserve Fund, or other Special Funds; (ii) proper improvement and replacement reserves and (iii) sufficient earnings to permit the issuance of Additional Bonds requir- ed for the construction of necessary or advisable additions, enlargements, replacements, extensions and improvements; and (c) In addition to complying with the requirements of subsection (b) of this Section !0, the Issuer further covenants and agrees to fix, charge, and collect, or cause to be fixed, charged, and collected, such rates, fees and charges for the use of the Hospital Facilities as will, to- gether with all other receipts and revenues derived by the Issuer from the operation or ownership of the Hospital Facilities, be reasonably projected to be sufficient in each Year, commencing with the first full Year following completion of the 1982 Project, to produce Net Income Available for Debt Service (as defined in subsection (e) of this Section) equal to at least 120 percent of the Aggregate Annual Hospital Debt Service (as defined in subsection (e) of this Section) required to be paid in such Year. (d) Within one hundred fifty (150) days after the end of each Year (commencing with the first full Year following completion of the 1982 Project), the Issuer shall compute the Net Income Available for Debt Service for such Year and shall promptly furnish to the Trustee a certificate setting forth the results of such computation. The Issuer hereby further covenants and agrees that if, at the end of such Year, the Net Income Available for Debt Service shall have been less