12-82 Appropriate Hospital Operating Fund

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ORDINANCE NO. 12-82 By:Brown, Chinnock, Gallagher, Graham, McBride, Salmon, Wendlinq An Ordinance to appropriate an aggregate amount non to exceed $7,880,000 from the Hospital Operating Fund for deposit in the Debt Service Reserve Fund and the Series 1982 Construction Fund; to authorize the Director of Finance to effect such deposits; authorize the Director of Finance to enter into a contract for the printing of the Series 1982 Bonds; and to declare an emergency. WHEREAS, the City of Lakewood, Ohio (the "Issuer"), has, by Ordinance No. 10-82 __, adopted by this Council on February 16, 1982 (the "1982 Bond Ordinance"), authorized the issuance of Hospital Improvement Revenue Bonds -- Series 1982, dated February 1, 1982 (the "Series 1982 Bonds"), in the aggregate principal amount of $23,750,000; and WHEREAS, the 1982 Bond Ordinance authorizes the Issuer to execute and deliver that certain First Supplemental Trust Indenture, dated as of February 1, 1982 (the "First Supplemental Indenture"), between the Issuer and BancOhio National Bank, Columbus, Ohio (formerly known as The Ohio National Bank of Columbus and referred to hereinafter as the "Trustee"), supplementing and amending that certain Trust Indenture, dated as of August 1, 1970 (the "Original Indenture"), be- tween the Issuer and the Trustee (which Original Indenture, as amended and supplemented by the First Supplemental Indenture, is referred to hereinafter as the "Indenture"); and WHEREAS, Section 6 of the Indenture requires that the Issuer deposit into the Series 1982 Bonds Account of the Debt Service Reserve Fund at the time of the issuance of the Series 1982 Bonds an amount equal to the maximum amount required to be paid into the Series 1982 Bonds Account of the Debt Service Fund in any year; and WHEREAS, Section 7 of the 1982 Bond Ordinance requires that the Issuer deposit into the Equity Contribution Account of the Series