11-82 Hospital Improvement Revenue Bonds

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ORDINANCE NO. tl-82 By: Brown, Chinnock, Gallaqh_er, Graham, McBride, Salmon, Wendling An Ordinance to propose modifications to certain provisions of the Trust Indenture, dated August 1, 1970, as amended by the First Supplemental Trust Indentul~e, to be dated February 1, 1982, ~ecuring Hospital Improvement Revenue Bonds issued and to be issued by tile City of Lakewood; to authorize the actmons necessary to obtain the consents of Bondholders required for such modifications under the Indenture; to authorize the execution of a Second Supplemental Trust Indenture; and to declare an emergency. WHEREAS, tile City of Lakewood (the "Issuer")~ a municipal the State Bond Ordinance"), on July 20, 1970, principal amoui~t corporation and political subdivision 'in and of of Ohio, by Ordinance No. 34-70 (the "Origmnal duly adopted by this Council of the Issuer authorIzed the issuance of $5,900,000 of Hospital Improvement Revenue Bo~!ds, dated August 1, 1970 (the "Ormgmnal Bonds"), and the execu- tion of that certain Trust Indenture, dated August 1, 1970 (the "Origmnal Indenture"), by and between the Issuer and the Ohmo National Bank of Columbus, Ohmo (whmch is referred ~o hereinafter %~lth its successor, BancOhio Nat!onal Bank, Columbus, Ohio as the "Trustee"), securing the Original Bonds and ally Additional Bonds issued on a parity therewith in accordance w~th the Original Bond Ordinance and the Original Indenture (which Origlnat Bonds and Additional Bonds are heremnafter collectmvely referred to as the "Bonds"); and WHEREAS, the Issner, by Ordinance bio. 10~2 (the "1982 Bond Ordinance"), duly adopted by thus Counc!t on February 16~ 1982~ authorized the issuance of $23, 750, 000 princIpal amount of such Additional Bonds, deslqnated "Hospital Improvement Revenue Bonds -- 1982 Sermes" (the "Series 1982 Bonds"), to be dated February 1, 1982, and the