Fort Walton Beach Resolution — 90-10-IDRB-Guidance Clinic — reading text

entitled to the protection of the Indenture unless otherwise provided in the supplemental indenture and other documents authorizing said Additional Bonds. Reference is hereby made to the Indenture for a description of the property pledged and the provisions, others, with respect to the assigned, among nature and of extent the security, the rights, duties and obligations of Issuer, Trustee and the owners of the Bonds, the issuance of Additional Bonds and the terms upon which the Bonds are issued and secured. A- 4  Issuer" means the City of Fort Walton Beach, Florida, a political subdivision organized and existing under the laws of the State of Florida, and its successors. ' Issuer Representative" means the person or persons at the time designated to act on behalf of Issuer by written certificate furnished to Company and Trustee containing the specimen signatures of such person or persons and signed on behalf of Issuer by its Mayor, City Manager or Clerk. LatePayment Rate" means Prime Rate plus an additional five percent ( 5 % ) per annum ( but not to exceed the maximum rate of interest allowed by law). Lewis Street Facility" means the health care facility of the Company located at 333 Lewis Street, Fort Walton Beach, Florida, to be refinanced with a portion of the Series 1990 Bonds. Mortgage" shall mean that Mortgage and Security Agreement by and between the Company and the Issuer dated of even date herewith and any amendments or supplements thereto. Mortgaged Facilities" means the Equipment and the Mortgaged Facility Sites. Mortgaged Faci I i ty Sites" means the real estate described in Exhibit A hereto on which the Equipment will be situated, which real estate is owned by Company, and any other interests in real property, leasehold interests, easements, licenses and rights in real property hereafter acquired by Company with proceeds of the Bonds for use in connection with the operations of the Company, less any interests in real property, easements, licenses, rights of way or similar rights and privileges as may be released from the lien of the Mortgage as provided therein, or taken by the exercise of the power of eminent domain. Net Proceeds," when used with respect to any insurance from policies required by Section 4. 6 of this proceeds-- condemnation award, means the amount Agreement or any I remaining after deducting all expenses ( including attorneys fees) incurred in the collection of such proceeds or award from the gross proceeds thereof. Purchaser" Sunshine Bank, Fort Walton Original means Beach, Florida. 6- 5771q prior to the making of any modification, repair, restoration or replacement of a Mortgaged Facility, as the same may be revised from time to time in accordance with the provisions of this Agreement. Prime Rate" means the annual interest rate announced, from time to time, by Sunshine Bank as the prime rate ( which interest rate is purely discretionary, only a bench mark and is not necessarily the best or lowest rate charged borrowing customers of any subsidiary of Sunshine Bank). Series Bonds" 1990 means the $ 1,500, 000 aggregate principal of amount Issuer' s First Mortgage Revenue Bonds Okaloosa Guidance Clinic Project) Series 1990 issued by Issuer pursuant to the Indenture. State" means the State of Florida. Tax Year" means the one- year periods during the term of the Series1990 Bonds beginning on each March 2 and ending on the following March 1 ( unless a different period is required by the Code). The first Tax Year begins on the date of issuance of the Series 1990 Bonds and ends on March l, 1991. Term of Agreement" means the term of thi s Agreement as specified in Section 11. 1 hereof. Trustee" means Bank, and Sunshine its successors and any corporation resulting from or surviving any consolidation or merger to which it or its successors may be a party and any successor Trustee at the time serving as successor trustee under the Indenture. Trust Estate" means the property conveyed to Trustee pursuant to the Granting Clauses of the Indenture. END OF ARTICLE I] 8- 5771q  i) Governmental Obligations; ii)Certificates of deposit or time deposits with any bank or savings institution, including Trustee, which is insured by the Federal Deposit Insurance Corporation or the Federal Savings and Loan Insurance Corporation, that such certificates of deposit or time provided deposits, to the extent they exceed the amounts covered by such insurance, are fully secured by Governmental Obligations; iii) certificates of deposit or time deposits with any banking institution, whether foreign or domestic, including Trustee, having a capital and surplus in excess of $ l2, 000, 00Q; iv) Prime commercial approved by Trustee and paper bearing a rating by a nationally recognized rating agency of " A- I," " P- l," " F- I" or any similar rating or better; v)Repurchase agreements issued by commercial banks, including Trustee, fully secured by Governmental Obligations; or vi) Mutual funds which invest solely in any of the Permitted Investments set forth in ( i) through ( v) above. Trustee make may any and all such Permitted Investments through its own bond department or the bond department of any bank or trust company under common control with Trustee. All such Permitted Investments shall at all times be a part of the fund ( the Construction Fund, the Bond Fund or such other fund, as the case may be) from which the moneys used to acquire such Permitted Investments shall have come, and all income and shall be credited to, and profits on such Permitted Investments losses thereon shall be charged against, such funds. Such Permitted Investments shall be made so as to mature or be to redemption at the option of the holder thereof on or subject prior to the date or dates that Company anticipates that moneys therefrom-will be required. Such Permitted Investments shall be registered in the name of Trustee. Section 3. 8. Special Arbitraqe Certifications. Issuer and Company jointly and severally certify and covenant to each other and to and for the benefit of the purchasers and holders of the Outstanding Bonds that so long as any of the Bonds remain Outstanding, moneys on deposit in any fund or account in connection with the Bonds, whether or not such moneys were derived from the of the sale of the Bonds or from any proceeds 20- 577Iq