Laserfiche WebLink
i s t <br /> r . ' . . . ' '�j'..� - . <br /> - I ,.�. °"� <br /> �..:� <br /> g - �-7..�. � . . � . .. ... . . .. . . . . . . r . . . . . . . � . . . . . . . � . -� � ,,. <br /> I <br /> r <br /> i � � . .. . . . . . . <br /> ,� <br /> � � � <br /> �� <br /> �6�006513 <br /> _ � <br /> �- ; <br /> ,� � <br /> � u The Authority further a� rees that it will not use , or <br /> r; permit to be used , any of the property acquired out of Bond proceeds <br /> r�� in an unrelated trade or bus iness as defined in Section 513 ( a ) of <br /> � ; the Internal Revenue Code of 1954 so as to cause the Lessee to <br /> z; lose its status as a corporation described in Section 501 ( c ) ( 3 ) <br /> :� of such Code ; nor will it perMit such property to be used by any <br /> �� non- exempt person in such manner as tvould result in loss of tax <br /> ;i exemption of interest on its Bonds otherwise afforded under <br /> i Section 103 ( a ) of such Code . <br /> � Section 612 . Arbitra�e and Arbitra�e Representatlons . i <br /> �; The Authority further covenants and agrees that it will not take ` <br /> i� any action or fail to take any action with respect to the investment <br /> � of the proceeds of any Bonds issued under this Indenture or with � <br /> �� respect to the revenues derived from its orrnership , leasing or use <br /> �� of the Hospital Pacility vrhich may result in constituting the Bonds <br /> .�,��' " arbitrage bonds " within the meanin� of such term as used in <br /> , r:, Section 103 ( c ) of the Internal Revenue Code of 1954 , as 2mended . <br /> r a� <br /> '� On the basis of the Lessee ' s certifications and <br /> � representations •contained in Section 2 . 3 of the Lease , the <br /> ,; Authority hereby certifies that it . reasonably expects that : <br /> zk <br /> s� - ( a ) The original proceeds of the Series A Bonds <br /> �; will not exceed by nore than 5o the amount necessary <br /> ���� to pay the cost of the Pro ,ject . <br /> �� ' <br /> ;; ( b ) At least 85 � of the �pendable proceeds of <br /> ._+ each series of the Series A Bonds , including invest - <br /> ,�; ment proceeds , ti•iill be expended for the cost of the <br /> ;3 Pro ,� ect i•rithin three years following the date of issue <br /> � ` of the series of Se .ies A 3onds in auestion . � <br /> ; <br /> '� ' <br /> �' ( c ) The Lessee has incurred substantial binding <br /> ;; obligations to corn.�+ence or acquire the Pro ,ject equal to � <br /> ;ti at least 2 - 1/2 % o £ the total cost of the Pro ,� ect . <br /> !J <br /> ' y ( d ) ��forl: on the Pro ,ject has commenced and is <br /> s, rr; expected to proceed ;•rith due dili �ence to completion . <br /> •,; <br /> �;j ( e ) The Pro,ject has not been and is not expected <br /> r:`,# to be sold or oti7erwise disposed of in :rhole or in part <br /> �{'I prior to the rnaturity of the last princinal installment <br /> �; -z; of the Series A Sonds . <br /> :;> <br /> _:,.� <br /> :;;i`:; <br /> y.'Y <br /> .":1 <br /> -..J <br /> :te <br /> 4'��-�i � . . <br /> : -. � <br /> :S� <br /> .i;i: <br /> ;;:� - 52 - <br /> Fli <br /> vry 1 <br /> j . ^trl ..+ ' <br /> °9 , ,r ' <br /> '.d N wr, <br /> . <br /> , ' . � . <br /> � �;;;- � �— � <br /> '. ,`. . - . : " _ ; , n 4'- , <br /> tKr , <br /> � <br /> r , . <br /> r. : <br />; <br /> 'de"� L� � <br />