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RESOLUTION#21-018
<br /> THE COUNTY OF HALL,IN THE STATE OF NEBRASKA
<br /> A RESOLUTION AUTHORIZING THE ISSUANCE OF REVENUE BONDS
<br /> (TABITHA GRAND ISLAND PROJECT), SERIES 2021, IN A PRINCIPAL
<br /> AMOUNT NOT TO EXCEED $20,000,000, IN ONE OR MORE SERIES, FOR
<br /> THE PURPOSE OF MAKING A LOAN TO TABITHA GRAND ISLAND, INC.,A
<br /> NEBRASKA NONPROFIT CORPORATION, TO FINANCE OR REIMBURSE A
<br /> PORTION OF THE COSTS OF CONSTRUCTING AND EQUIPPING A NEW
<br /> SENIOR LIVING CAMPUS IN GRAND ISLAND, NEBRASKA; APPROVING
<br /> AND AUTHORIZING THE EXECUTION AND DELIVERY OF CERTAIN
<br /> DOCUMENTS IN CONNECTION WITH THE ISSUANCE OF THE BONDS;
<br /> MAKING CERTAIN FINDINGS AND DETERMINATIONS WITH RESPECT TO
<br /> THE BONDS; AND RELATED MATTERS.
<br /> WHEREAS, The County of Hall, Nebraska (the "Issuer") is a county and political subdivision
<br /> of the State of Nebraska(the "State");
<br /> WHEREAS, the Issuer is authorized by Sections 13-1101 to 13-1110, inclusive, Reissue Revised
<br /> Statutes of Nebraska, as amended (the "Act") to issue revenue bonds for the purpose of loaning the
<br /> proceeds of such bonds to finance any land, building or equipment or other improvement, and all real and
<br /> personal properties deemed necessary in connection therewith,which shall be suitable for use as a nonprofit
<br /> enterprise or the refinancing of outstanding debt of an enterprise incurred to finance such land, building,
<br /> equipment, improvement or other properties;
<br /> WHEREAS, Tabitha Grand Island, Inc., a nonprofit corporation duly organized and validly
<br /> existing under the laws of the State (the "Borrower"), has requested that the Issuer issue its Revenue
<br /> Bonds (Tabitha Grand Island Project), in one or more series, in an aggregate principal amount not to
<br /> exceed $20,000,000, (the "Bonds") in one or more series, and loan the proceeds thereof to the Borrower
<br /> for the purpose of financing or reimbursing a portion of the costs of constructing and equipping a new
<br /> senior living campus(expected to consist of 157 units providing a 200,000 square foot, full-continuum of
<br /> senior housing and services)and associated site improvements in the City of Grand Island,Nebraska. (the
<br /> "Project");
<br /> WHEREAS, the Issuer has agreed to (a) issue the Bonds pursuant to a Loan Agreement (the
<br /> "Loan Agreement") among the Issuer, Pinnacle Bank, as lender, (the "Lender") and the Borrower, (b)
<br /> loan the proceeds thereof to the Borrower pursuant to the Loan Agreement, and (c) deliver the Bonds to
<br /> the Lender;
<br /> WHEREAS, the following documents will be prepared in connection with the issuance, sale and
<br /> delivery of the Bonds(collectively,the"Financing Documents"):
<br /> (a) Loan Agreement; and
<br /> (b) Tax Compliance Agreement with respect to each series of Bonds, as applicable
<br /> (the "Tax Agreement"), among the Issuer and the Borrower, concerning compliance with the
<br /> provisions of the Internal Revenue Code of 1986, as amended (the "Code"), and the applicable
<br /> regulations thereunder.
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