92-046 Ordinance - Laserfiche WebLink

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? WHEREAS, Health Cleveland Enterprises, Inc. (successor by partnership dissolution to Fairview West Partners, Ltd.) has requested that the Series 1992 Bonds be issued, and the Series 1992 Bonds are being issued, for the purpose of providing funds sufficient to retire the Prior Issue by call for redemption and with the reasonable and well-founded expectation that the final interest cost of the bonds, computed to absolute maturity will be less than the final interest cost of the Prior Issue upon redemption, such Prior Issue having induced the Borrower to maintain and to locate within the boundaries of the Issuer that business of the Borrower to be conducted by the use of the Project; NOW, THEREFORE, BE IT ORDAINED by the Council of the City of North Olmsted, in the State of Ohio: Section 1. Definidons. In addition to the words and terms defined elsewhere in this Bond Ordinance, unless the context or use clearly indicates another meaning or intent: "Act" means Chapter 165, Ohio Revised Code, as enacted and amended from time to time pursuant to Section 13 of Article VIII of the Ohio Constitution. "Additional Bonds" means bonds which may be issued under Section 2.04 of the Indenture. "Additional Notes" means any nonnegotiable promissory note, in addition to the Series 1992 Note, or notes delivered by the Borrower to the Trustee in connection with the issuance of Additional Bonds, as provided in the Agreement. "Agreement" means the Loan Agreement, to be dated as of even date with the Indenture, between the Issuer and the Borrower, as amended or supplemented from time to time. "Bond Fund" means the Bond Fund created in Section 5.03 of the Indenture. "Bond Legislation" means (a) when used with reference to the Series 1992 Bonds, this Ordinance providing for their issuance and approving the Agreement, the Indenture and related matters; (b) when used with reference to an issue of Additional Bonds, this Ordinance to the extent applicable, and the ordinance providing for the issuance of the Additional Bonds and approving any amendment or supplement to the Agreement, any Supplemental Indenture and related matters; and (c) when used with reference to Bonds when Additional Bonds are outstand- ing, this Ordinance and the ordinance providing for the issuance of the then outstanding and then to be issued Additional Bonds; in each case as amended or supplemented from time to time. "Bonds" means the Series 1992 Bonds and any Additional Bonds. "Borrower" means Health Cleveland Enterprises, Inc., an Ohio corporation, and its lawful successors and assigns, to the extent permitted by the Agreement. -2-