HomeMy WebLinkAboutC.054.93008_1476religious denomination or (ii) for the training or priests,
awk ministers, rabbis or other similar persons in the field of religion
or for devotional activities or religious worship; or
(b) "directly or indirectly in any trade or business carried
by any person who is not an exempt person" within the meaning of Section
103(b)(2) of the Code (as defined in the Loan Agreement)
and the regulations proposed and promulgated thereunder.
The Subdivision will not after the date hereof grant and has not granted any security interest
or lien in or on the Project other than to the Commission or the Insurer, or pursuant to clauses in
existing financing agreements granting a security interest in after-acquired property.
The Loan Agreement and the Reimbursement Agreement have been duly and validly authorized,
executed and delivered and are in full force and effect.
There is no litigation or legal or governmental action, proceeding, inquiry or investigation
pending or threatened by governmental authorities or to which the Subdivision is a party or of which
any property of the Subdivision is subject which, if determined adversely to the Subdivision, would
individually or in the aggregate (i) materially and adversely affect the validity or the enforce-
ability of the Loan Agreement or the Reimbursment Agreement or (ii) otherwise materially or adverse-
ly affect the ability of the Subdivision to comply with its obligations under the Loan Agreement or
the Reimbursement Agreement.
The proceeds of the Loan will be expended by the Hospital on, or within a reasonable time
following the date each Disbursement is made. It is reasonably anticipated that the proceeds of the
Loan will be fully advanced and expended prior to December 1, 1988 or, if the Loan is being made
with Recycled Funds, within two (2) years after the date such Recycled Funds have become available
„esa for loans to participants in the loan program funded by the Bonds.
Any indebtedness to be refinanced or any amounts to be reimbursed with the proceeds of the Loan
were initially incurred by the Subdivision and the proceeds of such debt were fully expended to
finance the Project. The principal amount of any disbursement used for refinancing or reimbursement
of funds expended for the Project does not exceed the historical cost of such Project.
No Certificate of Need is required for the Project, or if a Certificate of Need is required,
such certificate has been obtained and the applicable time period for appeal has expired or such
certificate will be obtained and the time period for appeal will expire prior to the date of any
Disbursement.
The representations and warranties of the Subdivision set forth in the Loan Agreement and the
Reimbursement Agreement are true and correct in all material respects on the date hereof; and the
Subdivision is in compliance with all terms, convenants and conditions of the Loan Agreement and the
Reimbursement Agreement on the date hereof.
IN WITNESS WHEREOF, the undersigned here hereunto set their hands and affixed the corporate
seal of the Subdivision duly attested this _day of 1988.
--------------------------------------------------------------------------------------------------
CONSENT AGENDA
On a motion from Commissioner Ostwalt, the board unanimously approved the
> following items on Consent Agenda:
TAX COLLECTIONS REPORT - MONTH OF SEPTEMBER 1988: MOTION from
Commissioner Ostwalt to accept report.
VOTING: Ayes - 5; Nays - 0.
RELEASES, AND REFUNDS, MONTH OF SEPTEMBER 1988: MOTION from Commissioner
Ostwalt to approve the following:
BILL N
87050779 9/12/88 03 Russ Daniel Michael & Tammy B 2.50 - 30.70 30.70 Error
87048625 9/14/88 02 Reavis John Henry & Vicky A. 8.24 - 101.18 101.18 Dbl Istd
"
87048626 9/14/88 02 8.24 - 101.18 101.18 Error
87027749 9/20/88 05 Honeycutt Barry 3.65 - 44.85 44.85 Car leased
87025417 9/21/88 02 Harvest Baptist Church of St.39.85 - 489.60 489.60 Exempt
87025418 9/21/88 02 Harvest Baptist Church of St. 8.73 - 107.20 107.20 "
TOTALS: County Fire: 68.71
Shepherds 2.50
r
I ()29