08-83 Hospital Improvement revenue bonds

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remain outstanding Bonds for the refunding of which Additional Bonds have been issued, the principal amount of and Bond Service Charges on such Additional Bonds shall be disregarded. Upon receipt of the documents required by the foregoing pro- visions of this Section to be furnished to it, the Trustee shall there- upon authenticate the Additional Bonds proposed to be issued. When such Additional Bonds have been so authenticated, the Trustee shall deliver the Additional Bonds with all unmatured coupons appertaining thereto upon the order of the'Issuer to the Original Purchaser thereof, upon the payment therefor by such Original Purchaser to or for the account of the Issuer of the Purchase Price therefor. The receipt by the Issuer or by the Trustee on its behalf shall be full acquittal to the Original Pur- chaser for the Purchase Price of the Additional Bonds, and such Original Purchaser shall be under no obligation to see to the application there- of. The proceeds from the sale of any Additional Bonds, however, shall be held in trust and shall be disposed of as provided in the Series Bond Legislation authorizing the issuance of such Additional Bonds and the Supplemental Indenture executed in connection with the issuance of such Additional Bonds. The Series Bond Legislation relating to any Series of Addi- tional Bonds shall provide for the deposit, upon the delivery of such Additional Bonds or during a period not to exceed twelve months there- after, of sufficient moneys into the Debt Service Reserve Fund to bring the amount therein up to the Bond Reserve Requirement for all Bonds (including Additional Bonds) then to be outstanding. Section 18. Covenants of the Issuer. In addition to the other covenants of the Issuer contained herein and in the Indenture, the Issuer further covenants with the Bondholders and the Trustee as follows: (a) Payment of Bond Service Charges. The Issuer, solely from the sources herein provided, will pay or cause to be paid the Bond Service Charges on each and all Bonds on the dates, at the places, and in the manner provided herein, in any other applicable Series Bond Legislation, in the Indenture, in any Supplemental Indenture, and in the Bonds or coupons appertaining thereto. (b) Performance of Covenants~ Authority and Actions. The Issuer will at all times faithfully observe and perform all agreements, covenants, undertakings, stipulations and provisions contained in the Bond Legislation, any Series Bond Legislation, the Indenture, any Sup- plemental Indenture and any and every Bond executed, authenticated, and delivered under the Indenture and in al]. proceedings of the Legislative Authority pertaining to the Bonds or the Indenture. The Issuer warrants and covenants that it is, and upon the respective deliveries of the Series 1983-A Bonds and Series 1983-B Bonds will be, duly authorized by the laws of the State to issue the Series 1983-A Bonds and Series 1983-B Bonds, to execute the Indenture, and to -42-