08-83 Hospital Improvement revenue bonds

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Legislation limits the aggregate principal amount of the Series 1983-A Bonds and the Series 1983-B Bonds, (ii) this Bond Legislation, in Sec- tion 17 hereof, restricts the aggregate principal amount of Additional Bonds which may be issued from time time, and (iii) any subsequent Series Bond Legislation limits the aggregate principal amount of the Additional Bonds thereby authorized. Section 4. Purpose of Issuance of Bonds. The Bonds autho- rized in Section 3 hereof may be issued from time to time for the pur- pose of paying Costs of Hospital Facilities or for the purpose of re- funding any outstanding Bonds. The Legislative Authority hereby deter- mines that there is a substantial need for the Issuer to finance for such purposes from time to time and that doing so will serve public municipal purposes. Section 5. Authorization of Series 1983-A Bonds. For the purposes referred to in Section 6 hereof, the Legislative Authority hereby authorizes the issuance of a Series of Bonds in an aggregate principal amount to be determined in the Certificate of Award in accord- ance with Section 7(i) hereof, and to be designated "Hospital Improve- ment Revenue Bonds, Series 1983-A". Section 6. Purpose of Issuance of Series 1983-A Bonds. The Series 1983-A Bonds authorized in Section 5 hereof shall be issued for the public purpose of refunding the Prior Revenue Bonds through the application of the net proceeds of the Series 1983-A Bonds, together with other moneys legally available therefor under ~he Prior Indenture, to provide for the prompt payment of the principal of and premium, if any, and interest on the Prior Revenue Bonds as the same mature or upon their redemption prior to maturity in accordance with their terms. The Issuer shall thereby cause the Prior Revenue Bonds =o be paid and dis- charged for purposes of the Prior Indenture and shall thereby cause the Prior Indenture to cease, determine and become null and void and the lien thereof to be cancelled and discharged. Section 7. Terms and Provisions Applicable to the Series 1983-A Bonds. (a) Form and Numbering. The Series 1983-A Bonds shall be issued initially in either coupon or fully registered form as may be requested by the Original Purchaser thereof, shall be exchangeable for fully registered or coupon Bonds in the manner and on the terms provided in the Indenture, and shall be numbered as determined by the Fiscal Officer. (b) Denomination and Dates. Series 1983-A Bonds in coupon form shall be in the denomination of $5,000 each, shall be registrable as to princzpal, and shall be dated as specified in the Certificate of Award. Series 1983-A Bonds in fully registered form shall be in the denomination of $5,000 or any integral multiple thereof permitted by the Indenture, and shall be dated as of the date of Series 1983-A Bonds in coupon form if authenticated prior to the first Interest Payment Date, -15-