106-83 Bonds for Hospial - Laserfiche WebLink

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Section 7. General Terms and Provisions of all Bonds. (a) Designation~ Payment and Form. Ail Bonds shall be des- ignated "Subordinated Hospital Improvement Revenue Bonds", and Bonds of each Series shall bear such designations as may be necessary to distin- guish them from Bonds of any other Series. Bond Service Charges on all Bonds shall be payable in lawful money of the United States. Subject to provisions of the applicable Series Bond Legislation, Bonds shall be issued as fully registered Bonds as provided in the Indenture. Ail Bonds shall express on their faces the purposes for which they are issued and shall include such other statements or legends as may be required by law. (b) Execution. All Bonds shall be executed in the manner provided in the applicable Series Bond Legislation authorizing their issuance or in the manner provided by the applicable law in effect at the time of their issuance. In case any officer whose signature or a facsimile of whose signature shall appear on any Bonds shall cease to be such officer before the issuance, authentication or delivery of such Bonds, such signature or such facsimile shall nevertheless be valid and sufficient for all purposes, the same as if such officer had remained in office until that time. (c) Redemption Features. Unless otherwise provided in the applicable Series Bond Legislation for any Series of Additional Bonds, notice of call for redemption of any Bonds shall be given in the same manner provided in Section 5(i) hereof for the redemption of Series 1983 Bonds. If Bonds or portions of fully registered Bonds are duly called for redemption and if on such redemption date moneys for the redemption of all the Bonds to be redeemed, together with accrued interest to the redemptxon date and any applicable redemption premium, shall be held by the Trustee or Paying Agents so as to be available therefor, then from and after such redemption date such Bonds or portions thereof shall cease to bear interest. (d) Security. Except as to the Letter of Credit and any Alternate Letter of Credit and the proceeds therefrom, as provided herein, the Bonds shall be equally and ratably: (i) payable from the Available Net Revenues, and (ii) secured by a pledge of and lien on the moneys on deposit in the Debt Service Fund and by the Indenture. The Series 1983 Bonds shall be secured by the Letter of Credit and any Alternate Letter of Credit, and the proceeds therefrom. Nothing in the Bond Legislation, any Series Bond Legislation, the Bonds or the Inden- ture shall constitute a general obligation, debt or bonded indebtedness of the Issuer, and further, nothing therein shall give the holders or owners of Bonds, nor do they have, the right to have excises or taxes levied by the Legislative Authority or the Issuer, or by the State or the taxing authority of any other political subdivision, for the payment of Bond Service Charges on the Bonds, but such Bonds are payable from the Available Net Revenues and the Debt Service Fund as provided herein, -22-