32-89 Hospital Improvement Revenue Bonds $36 mil

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WHEREAS, the Issuer has determined that it is necessary to refund the Series 1983-A Bonds, as defined herein, for the purpose of better providing for the health and welfare of the Issuer's residents and the general public by enhancing the availability, efficiency, and economy of hospital facilities and the services rendered thereby achiev- ing a net reduction in Bond Service Charges; and WHEREAS, the Issuer has further determined that, in order to provide funds for such refunding of the Series 1983-A Bonds, it will be necessary for the Issuer to issue the Series One Bonds, as defined herein; and WMEREAS, the Issuer has determined that it is necessary to acquire, construct, improve, remodel, enlarge, furnish and equip addi- tional Hospital Facilities for the purpose of better providing for the health'and welfare of the Issuer's residents and the general public, and that, in order to provide funds to finance the cost of such additional Hospital Facilities, it will be necessary for the Issuer to issue the Series Two Bonds, as defined herein; and WHEREAS, this Ordinance is legislation determined to be an emergency measure, the immediate passage of which is necessary for the immediate preservation of the public peace, property, health, safety, and welfare, in that it is necessary that prompt provision be made for the authorization, sale and issuance of the Series One Bonds and the Series Two Bonds to refund the Series 1983-A Bonds and to finance the additional Hospital Facilities, which issuances of the Series One Bonds and Series Two Bonds are immediately necessary in order to permit the Lessee to continue to provide efficiently, effectively and economically for the health, care, safety, and welfare of the Issuer's residents and of the general public and to meet contracts to perform such improvements; NOW, THEREFORE, BE IT ORDAINED BY THE CITY OFLAKEWOOD, OHIO: Section 1. Definitions. Ail words and terms defined in the Original Indenture shall have the same meanings herein unless otherwise defined herein or unless use otherwise so indicates. In addition to the words and terms elsewhere defined in this Ordinance, the Indenture, and the Bonds, the following terms shall have the following meanings unless otherwise stated or unless the context or use indicates another or different meaning or intent; provided that when the following meanings vary from the meanings for the same terms in the Bond Legislation or the Original Indenture, the following meanings shall prevail: "Aggregate Annual Debt Service" means, for any Fiscal Year of the Opera:or, the sum of the principal, (including any mandatory sinking fund requirements) of and premium, if any, and interest on Hospital Debt (including Bond Service Charges) required to be paid during such Fiscal Year, to the extent such payments are not paid from the proceeds of Hospital Debt or from funds that are irrevocably deposited and committed -2-