106-83 Bonds for Hospial - Laserfiche WebLink

Home Browse Search

(a) A certificate of the Fiscal Officer and the Legal Officer to the effect that, to the best of their knowledge, the Issuer is not, on the date of issuance of such Additional Bonds, in default in the performance of any of its obligations or covenants set forth in the Bond Legislation, any Series Bond Legislation, the Indenture or the Bonds. (b) If the Additional Bonds proposed to be issued are to be issued for the purpose of paying Costs of Hospital Facilities, the certificate of an Architect having a reputation for skill and experience in the design and construction of hospitals and related facilities or a Hospital Consultant, stating that the particular purposes to which the proceeds of such Additional Bonds are to be applied are reasonable and necessary for the proper and economical operation of Hospital Facilities or for meeting existing or prospective demands for hospital services. (c) An executed counterpart of a Supplemental Indenture, including as a part thereof the Series Bond Legislation authorizing the issuance of such Additional Bonds, duly executed by the Issuer, provid- ing the terms, conditions and limitations of such Additional Bonds including the pledge of the Debt Service Fund and amounts on deposit therein to secure the payments of Bond Service Charges thereon when due. (d) A certified copy of the Series Bond L~gislation duly passed by the Legislative Authority: approving and authorizing the issuance and sale of the proposed Additional Bonds, fixing the maximum aggregate principal amount thereof, and determining or providing for the determination of the aggregate principal amount thereof and the terms, conditions and provisions thereof consistent with the Indenture; approv- ing and authorizing the execution of a Supplemental Indenture; and authorizing any other action necessary or appropriate in connection with the issuance of the proposed Additional Bonds and the application of the proceeds thereof to their specified purposes. (e) The written opinion of Independent Counsel, expressing the conclusion that, upon payment of the purchase price thereof and acceptance of any instruments of conveyance, creation or transfer, the Issuer will have a sufficient property interest in any additional real estate or interests therein which are to be acquired with the proceeds of such Additional Bonds or which are the site of the facilities to be acquired or constructed with the proceeds of such Additional Bonds, free and clear of liens and encumbrances except for Permitted Encumbrances (as defined in the Indenture). In lieu of such opinion, there may be filed a standard form of title guaranty policy or title insurance policy (or a hinder or commitment for either) running in favor of the Trustee and/or in favor of the Issuer evidencing that the Issuer has such prop- erty interest and in a face amount to be determined in or pursuant to the Series Bond Legislation authorizing the issuance of such Additional Bonds. -25-