2012-01 AUTHORIZING PARTIAL REISSUANCE AND CURRENT REFUNDING OF HOSPITAL FACILITY REVENUE BONDS, SERIES 2010

Home Browse Search

The Bonds are all issued under and equally and ratably secured by and entitled to the security of a Bond Trust Indenture dated as of December 1, 2010, as supplemented by the First Supplemental Bond Trust Indenture dated January 25, 2012 (collectively, the "Bond Indenture") between the City and the Bond Trustee, pursuant to which Bond Indenture the Series 2010 Obligation is pledged and assigned and all of the right, title and interest of the City in and to the Loan Agreement (excluding Unassigned Rights, as defined in the Bond Indenture) are assigned by the City to the Bond Trustee as security for the Bonds. In addition, a portion of the Bonds may be advance refunded through a deposit in escrow for the benefit of such refunded Bonds of cash, noncallable U.S. Government Obligations (as defined in the Bond Indenture) or both. Pursuant to the terms and conditions contained in the Master Indenture, any Member may also incur Additional Indebtedness and issue Obligations (as such terms are defined in the Master Indenture) to the City or to parties other than the City which will not be pledged under the Bond Indenture, but which may be equally and ratably secured with the Series 2010 Obligations, in the case of an Obligation, or which, in either case, may be entitled to Liens upon the Property of the Obligated Group (as such terms are defined in the Master Indenture) or other security in addition to any Liens or other security which secures all Obligations. Reference is made to the Bond Indenture and to all indentures supplemental thereto, to the Master Indenture and to all indentures supplemental thereto, and to the Loan Agreement and to all amendments thereto for the provisions, among others, with respect to the nature and extent of the security, the rights, duties and obligations of the City, the Bond Trustee and the Master Trustee, the rights of the owners of the Bonds, Additional Indebtedness and Obligations and the terms on which they are or may be issued and secured, and to all the provisions of which the owner hereof by the acceptance of this Bond assents. This Bond and such other Bonds of the series of which it forms a part do not constitute a pledge of the faith and credit of the City, but shall be payable solely from the funds pledged therefor in accordance with the Bond Indenture. The issuance of the Bonds under the provisions of the Act does not directly, indirectly or contingently obligate the City to levy any form of taxation for the payment thereof or to make any appropriation for their payment. This Bond and such other Bonds of the series of which it forms a part, and the interest and premium, if any, payable hereon and thereon, are limited obligations of the City and are payable solely from (a) payments or prepayments on the Series 2010 Obligations, (b) payments or prepayments to be made under the Loan Agreement (other than Unassigned Rights), (c) moneys and investments held by the Bond Trustee under, and to the extent provided in, the Bond Indenture and (d) in certain circumstances, proceeds from certain insurance and condemnation awards or proceeds from sales consummated under threat of condemnation. This Bond is registered on the Bond Register and may be transferred by the registered owner hereof at the written request of such registered owner in person or by his duly authorized attorney, but only in the manner, subject to the limitations and upon the payment of the charges provided in the Bond Indenture and upon surrender and cancellation of this Bond. Upon such transfer, a new fully registered bond or bonds, without coupons, of the same series and maturity and of authorized denominations for the same aggregate principal amount, shall be issued to the transferee in exchange therefor. Any Series 2010 Bond may be exchanged for a like aggregate principal amount of Bonds of the same series. The City and the Bond Trustee may deem and treat the person in whose name this Bond is registered as the absolute owner hereof for the 16