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83-86 Bonds - Hospital
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83-86 Bonds - Hospital
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Last modified
5/14/2013 3:06:56 PM
Creation date
9/8/2003 7:57:43 AM
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Office Of Council
Document Type
Ordinances
Date
9/8/2003
Date Adopted
7/21/1986
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The Executive and the Fiscal Officer are and each of them is <br />hereby further authorized and directed to cause to be ~repare~, executed <br />and delivered such other agreements and instruments as such officers <br />determine to. be reasonable, customary an~ in the best interests of the <br />Issuer for purposes of effectin~ t~e transacti~s hereby contemplated, <br />(including, ~.thout l~t~atto.n, any a~ree~nts or supplemental inden- <br />tures as the T~stee ma~ reasonably deem. necessary in order to cause the <br />Refundtn$ Bonds to be secured under and to constitute "Bonds" for <br />purposes of the T~st Indenture after the Crossover Date, and any <br />inst~ments necessary to cause the then outstandfn~ Series 1983 Bonds to <br />be called for reg~p=io~ on the ~rosso~er Date)~ and said officers are <br />and each of th~ hereby is ~rther aut~rized and directed, in each case <br />after approval of the fo~ aha cozzectness thereof by the Le~al Officer, <br />to execute and deliver any such a~reement or inst~ment tn the n~e and <br />on behalf of the Issuer and to cause its approval thereof to be thereby <br />conclusively evidenced. <br /> <br /> Section 9. Arbitrage Provisions and Transcript of Proceed- <br />in~s. The Issuer hereby covenants that it will restrict the use of the <br />respective proceeds of the Refunding Bonds in such manner and to such <br />extent, if any, as may be necessary, after taking into account reason- <br />able expectations at the times of the delivery of and payment for the <br />Refunding Bonds so that the Refunding Bonds will not constitute arbi- <br />trage bonds under Section 103(c) of the Internal Revenue Code and the <br />applicable income tax regulations under that Section. The Fiscal <br />Officer or any other officer, including the Clerk, having responsibility <br />w~th respect to the issuance of the Refunding Bonds, is authorized and <br />directed, alone or in conjunction with any other officer, employee, <br />consultant or agent of the Issuer, to give an appropriate certificate on <br />behalf of the Issuer for inclusion in the transcript of proceedings with <br />respect to the Refunding Bonds, setting forth the reasonable expecta- <br />tions of the Issuer regarding the amount and use of all proceeds thereof <br />and the facts, estimates, and circumstances on which they are based, <br />such certificate to be premised on the reasonable expectations and the <br />facts, estimates, and circumstances on which they are based, all as of <br />the respective dates of delivery of and payment for the Refunding Bonds. <br />The Clerk shall furnish to the Original Purchaser a true transcript, <br />certified by the Clerk, of all proceedings had with reference to the <br />issuance of the Refunding Bonds, along with such information from the <br />records of the Issuer as is necessary to determine the regularity and <br />validity of the issuance of the Refunding Bonds. <br /> <br /> Section 10. O~en Meeting Determination. It is found and <br />determ/ned that all formal actions of this Legislative Authority con- <br />cerning and relating to the adoption of this Refunding Bonds Legislation <br />were adopted in an open meeting of this Legislative Authority, and that <br />all deliberations of this Legislative Authority and of any of its <br />committees that resulted in such formal action were in meetings open to <br />the public, in compliance with all legal requirements including Section <br />12~.22, Ohio Revised Code. <br /> <br /> Section 11. Separability. Each section of this Refunding <br />bonds Legislation and each subdivision of any section hereof is hereby <br /> <br />-14- <br /> <br /> <br />
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