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ORDINANCE NO. f'~-~ <br /> <br />AN ORDINANCE AUTHORIZING THE ISSUANCE OF HOSPI- <br />TAL IMPROVEMENT REVENUE BONDS OF THE CI/"f OF <br />LAKEWOOD, OHIO FOR THE PURPOSE OF PAYING COSTS <br />OF THE ACQUISITION, CONSTRUCTION, IMPROVEMENT, <br />REMODELING, ENLARGEMEnt, FURNISHING AND EQUIP- <br />PING OF HOSPITAL FACILITIES OF SAID CITY AND <br />FOR THE PURPOSE OF REFU~ING CERTAIN OBLIGA- <br />TIONS OF SAID CITY ISSUED FOR SUCH PURPOSE; <br />AU/~ORIZING THE ISSUANCE AND SALE OF SERIES <br />1983-A OF SUCH BONDS IN AN ASGREGATE PRINCIPAL <br />AMOUNT NOT TO EXCEED $40,000,000 (EXCEPT IN THE <br />EVENT THAT ANY SERIES 1983-A BONDS ARE OFFERED <br />AT AN ORIGINAL ISSUE DISCOUNT AS SET FORTH <br />HEREIN) FOR THE PURPOSE OF REFUNDING OUTSTAND- <br />ING HOSPITAL IMPROVEMEh~ REVENUE BONDS OF SAID <br />CITY; AUTHORIZING THE ISSUANCE AND SALE OF <br />SERIES 1983-B OF SUCH BONDS IN AN AGGREGATE <br />PRINCIPAL AMOUNT NOT TO EXCEED $2,000,000 F0R <br />THE PURPOSE OF PAYING CERTAIN COSTS OF HOSPITAL <br />FACILITIES, TO-WIT, COSTS OF THE ACQUISITION OF <br />A PARKING GARAGE; AL~HORIZING THE ISSUANCE OF <br />ADDITIONAL SUCH BONDS; ADq~HORIZING AN INDENTURE <br />APPROPRIATE FOR SECURING THE PAYMENT OF BOND <br />SERVICE CHARGES AND PROVIDING FOR THE PLEDGE OF <br />AND LIEN ON THE NET REVENUES TO SECURE THE <br />PAYMENT THEREOF; AND DECLARING AN EMERGENCY. <br /> <br /> WHEREAS, the City of Lakewood, Ohio (the "Issuer"), a munici- <br />pal corporation and political subdivision in and of the State of Ohio <br />(the "State") and duly organized and existing under and by virtue of the <br />laws of the State, has heretofore established and is the owner of a <br />general hospital affording hospital care and treatment for its residents <br />and for the general public; and <br /> <br /> ~EREAS, the Issuer has determined that it is necessary to <br />refund the Prior Revenue Bonds, as defined hereinbelow, and to acquire, <br />construct, remodel, renovate, improve, enlarge, equip, and furnish the <br />Hospital Facilities, as defined hereinbelow, for the purpose of better <br />providing for the health and welfare of the Issuer's residents and the <br />general public by enhancing the availability, efficiency, and economy of <br />hospital facilities and the services rendered thereby;'and <br /> <br /> WHEREAS, the Issuer has further determined that, in order to <br />provide funds for such refunding of said Prior Revenue Bonds, i: will be <br />necessary for the Issuer to issue the Series 1983-A Bonds, as defined <br />hereinbelow; and <br /> <br /> <br />