10-82 Issue Hospital Improvement Bonds

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(f) The rate covenants set forth in subsections (b) and (c) of this Section are sepa- rate and independent, and the inclusion or exclu- sion of any item of revenue or expenditure in determining the Issuer's compliance with either such covenan~ shall in no way affect the determi- nation of the Issuer's compliance with the other such covenant. Section 10. Incorporation of the OriGinal Bond Ordinance. It is understood and acknowledged that the Series 1982 Bonds are being issued pursuant to and in accor- dance with this Ordinance and the Original Bond Ordinance, and that the Bonds are subject to the terms and conditions of the Original Bond Ordinance except to the extent that such terms and conditions are modified or amended by this Ordinance and to the extent that such terms and conditions may be further modified or amended as proposed in Ordinance Ail terms, conditions, covenants and warranties contained in the Original Bond Ordinance, except as otherwise provided herein, shall apply to the Series 1982 Bonds with like force and effect as if originally made in connection with the issuance thereof. Section 11. _Arbitraqe. The Issuer hereby cove- nants that i~ will restrict, and take such actions as are reasonably necessary to require the Trustee in its capacity as Trustee to restrict, the use of the proceeds of the Series 1982 Bonds in such manner and to such extent, if any, as may be necessary, after taking into account reasonable expectations at the time of the delivery of and payment for the Ser~es 1982 Bonds so that the Series 1982 Bonds will not constitute arbitrage bonds under Section 103(c) of the Internal Revenue Code and the applicable income tax regu!a- tions under that Section. The Fiscal Officer or any other officer, including the Clerk, having responsibility with -37-