08-83 Hospital Improvement revenue bonds

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WHEREAS, the Issuer has further determined that, in order to provide funds for such acquisition of Hospital Facilities, to-wit, a parking garage connected to the Existing Hospital Facilities, as defined hereinbelow, it will be necessary for the Issuer to issue the Series 1983-B Bonds, as defined hereinbelow; and WHEREAS, this Ordinance is legislation determined to be an emergency measure, the immediate passage of which is necessary for the immediate preservation of the public peace, property, health, safety, and welfare, in that it is necessary that prompt provision be made for the refunding of the Prior Revenue Bonds and the financing of the costs of improving and enlarging the Hospital Facilities in order for the Issuer to continue to provide efficiently, effectively and economically for the health, care, safety, and welfare of its residents and of the general public; NOW, THEREFORE, BE IT ORDAINED BY THE COL~CIL OF THE CITY OF LAKEWOOD, OHIO: Section 1. Definitions. In addition to the words and terms elsewhere defined in this Ordinance, the Indenture, and in Bonds, the following terms shall have the following meanings unless otherwise stated therein or unless the context or use indicates another or differ- ent meaning or intent: "Acquisition of Qualified Property" means the purchase, re- pair, replacement, renewal or construction of Qualified Property, whether such acquisition is by outright purchase, lease-purchase or conditional sale, and irrespective of whether payment therefor is made in installments or in a lump sum. "Additional Bonds" means any Bonds of the Issuer issued under Section 16 of this Bond Legislation. "Annual Requirements" means the aggregate amount required to have been paid for Bond Service Charges (other than from the proceeds of Bonds) in any applicable Fiscal Year of the Issuer for which audited financial statements are available. "Architect" means any architect, engineer or firm of archi- tects or engineers licensed by, or permitted %o practice in, the State, designated by the Issuer. "Auditor" means a recognized independent certified public accountant, or firm of accountants, of good reputation, licensed by, or permitted to practice in, the State, designated by the Issuer. "Board of Trustees" means the Board of Trustees of the Lakewood Hospital. "Bond" or "Bonds" means one or more of the Series 1983-A Bonds, Series 1983-B Bonds and Additional Bonds. -2-