08-83 Hospital Improvement revenue bonds

Home Browse Search

and shall be in such form as shall be determined satisfactory and in the best interests of the Issuer by the official or officials executing the Purchase Contract on behalf of the Issuer, whose execution thereof shall conclusively evidence such determination. The Executive and the Fiscal Officer, or either of them, are hereby authorized and directed, on behalf and in the name of the Issuer, to execute and deliver the Pur- chase Contract, after approval as to the form and correctness thereof by the Legal Officer. The Executive, the Fiscal Officer, the Legal Officer, and the Clerk are, and each of them is, hereby authorized and directed to make the necessary arrangements on behalf of the Issuer to establish the date, location, procedure, and conditions for the delivery of the Series 1983-B Bonds to the Original Purchaser to the extent not provided for in the Purchase Contract. Said officers are hereby further authorized and directed to take all steps necessary to effect due authentication, delivery, and perfection of the security of the Series 1983-B Bonds under the terms hereof, the Purchase Contract, and the Indenture. It is here~y determined that the Purchase Price and the Specified Interest Rates for the Series 1983-B Bonds, and the manner of sale and the terms of the Series 1983-B Bonds as provided in this Bond Legislation and the Purchase Contract, are and will be in the best interest of the Issuer and consistent with all legal requirements and will carry out the public purposes referred to in the preambles hereto. If and to the extent required by the Purchase Contract, the Executive, the Fiscal Officer and the Hospital Administrator are, and each of them is, hereby authorized and directed to assist in the prepar- ation of and to execute and deliver any Preliminary Official Statement and final Official Statement, and any supplements thereto, to be used in connection with the offering and sale of the Series 1983-B Bonds. The Original Purchaser's use and distribution of such Official Statement and any supplements thereto as so executed in accordance with the terms of the Purchase Contract is hereby authorized and approved. The Series 1983-B Bonds shall be executed by the Executive and the Fiscal Officer, provided that either or both of such signatures may be facsimiles, and shall bear the corporate seal of the Issuer or a fac- simile thereof, and the coupons appertaining thereto shall bear the fac- simile signature of the Fiscal Officer. Section 13. Allocation of Purchase Price for Series 1983-B Bonds. The Purchase Price for the Series 1983-B Bonds shall be received and receipted by the Fiscal Officer or by the Trustee on the Issuer's behalf, and shall be allocated, deposited and credited for application to pay Costs of Hospital Facilities as follows: (a) to the Debt Service Fund, that portion, if any representing accrued interest on the Series 1983-B Bonds from their date to the date of the delivery of and payment for the Series 1983-B Bonds; (b) to the Debt Service Reserve Fund, that portion, if any, which, together with any other available moneys of the Issuer to be so deposited as specified in the Certificate of Award, equals the Bond Reserve Requirement for the Series 1983-B Bonds; and (c) to the Construction Fund, the balance of such proceeds. -30-