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0977 1'z" ORDINANCE NO. 977 (#16-92) AN ORDINANCE APPROVING THE ISSUANCE OF HOSPITAL REVENUE BONDS; APPROVING A TRUST INDENTURE; DECLARING AN EMERGENCY; AND, FOR OTHER PURPOSESM WHEREAS, the City of Jacksonville, Arkansas, (the "Ci.ty") owns its general, acute care hospital, Rebsamen Regiorlal Medical Center (the "Hospital"); and, WHEREAS, the Hospital Commission of the City has recommended that certain improvements and additions (the II Improvelnents") be made to the Hosp i tal and that the Improve- ments be financed by the issuance, by the City, of its Hospital Revenue Bonds, Series 1992 (the "Series 1992 Bonds") as described herein; and, WHEREAS, notice of the issuance of the Series 1992 Bonds has been published, in a newspaper of general circulation in the City, at least ten days prior to the date hereof, as required by law; and, WHEREAS, pursuant to such notice, a public hearing was conducted on the sixth day of August, 1992, at which hearing no one appeared to object to the issuance of the Series 1992 Borlds; and, WHEREAS, the obligations only indebtedness for pledged; and, Series 1992 Bonds will be special and will not in any event constitute an which the faith and credit of the City are WHEREAS, the City has outstanding its Hospital Revenue Refunding Bonds, Series 1989, dated December 1, 1989, (the "Ser ies 1989 BOl1ds II ), secured pursuant to t:he Trust Indenture between the City and First Jacksonville Bank & Trust, Jacksonville, Arkansas, dated as of December 1, 1989 (the "Original Indenture"), and the Series 1992 Bonds will be secured on a parity of pledge and security with the Series 1989 Bonds and will be secured pursuant to the Original Indenture, as supplemented by the First Supplemental Indenture, identified hereinbelow; and, WHEREAS, copies of the First Supplemental Trust Indenture, the Purchase Agreement and the Preliminary Official Statement (all being identified hereinbelow) have been presented to the City Council. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF JACKSONVILLE, ARKANSAS, THAT: SECTION ONE: Under the authority of the Constitution and laws of the State of Arkansas, including particularly Arkansas Code of 1987 Annotated, Title 14, Chapter 265 (the II Act" ), ttle issuance of the Ser ies 1992 BOllds in th.e aggre- gate principal amount of $2,255,000 is hereby authorized. The Series 1992 Bonds shall be issued in the form and denominations, shall be dated, shall be numbered, shall mature, shall bear interest at the rates, and shall be subject to redemption prior to maturity all upon the terms and conditions set forth in the First Supplemental Trust Indenture and the Purchase Agreement. SECTION TWO: The Series 1992 Bonds shall be sold pursuant to the terms and conditions of a Bond Purchase Agreement , dated September 3, 1992 (tile If Purchase Agreement"), between the City and Stephens, Inc. (the 13 Purchasers"), for the purchase price and upon the terms and conditions set forth therein. The Purchase Agreement is hereby approved in substantially the form heretofore presented, and the Mayor is hereby authorized and directed to execute the Purchase Agreement on behalf of the City, with such insubstantial changes as he may approve. SECTION THREE: To prescribe the terms and conditions upon which the Series 1992 Bonds are to be executed, authen- ticated, delivered, issued, accepted, held and secured, the Mayor is hereby authorized and directed to execute and acknowledge the Trust Indenture dated as of October 1, 1992 (the "First Sllpplemental Indenture"), and trle City Clerk is hereby authorized and directed to execute and acknowledge the First Supplemental Indenture and to affix the seal of the City thereto, and the Mayor is hereby authorized and directed to cause the First Supplemental Indenture to be accepted, executed, and acknowledged by the Trustee therein. The First Supplemental Indenture is hereby approved in substantially the form heretofore presented, and the Mayor is hereby authorized to execute the First Supplemental Indenture on behalf of the City, with such insubstantial changes as may be approved by him. SECTION FOUR: There is hereby authorized, ratified, and confirmed the preparation and distribution to various prospective and actual purchasers of the Series 1992 Bonds of the official City, describing the City and the Hospital and the Series 1992 Bonds and setting forth such other informa- tion as may be determined to be necessary or desirable. The Mayor, of and on behalf of the City, is authorized and directed to execute such Official Statement. The Preliminary Official Statement, in the form heretofore presented, is hereby approved. SECTION FIVE: The Mayor and City Clerk, for and on behalf of the City, are hereby authorized and directed to do any and all things necessary to effect the execution and delivery of the First Supplemental Indenture, the issuance, execution, sale and delivery of the Series 1992 Bonds, the execution and delivery of the Purchase Agreement, the execution, delivery, and distribution of an Official Statement and the performance of all acts of whatever nature necessary, to effect and carry out the authority conferred by this Ordinance. The Mayor and City Clerk are hereby further authorized and directed, for and on behalf of the City, to execute all papers, documents, certificates, and other instruments that may be required for the carrying out of such authority or to evidence the exercise thereof. SECTION SIX: Pursuant to the provisions of the Act, competitive bidding is hereby waived. SECTION SEVEN: The law firm Clark, Little Rock, Arkansas, is Counsel to the City. of Friday, Eldredge & hereby appointed Bond SECTION EIGHT: The City shall maintain, as a part of the Minutes of the meeting at which this Ordinance is adopted, for inspection by an interested person, a copy of the First Supplemental Indenture, the Purchase Agreement, and the Preliminary Official Statement. SECTION NINE: It has been determined that the issuance of the Series 1992 Bonds is necessary for the financing of the Improvements, which are essential to the continued provision of proper medical care for the inhabitants of the City and its environs. Therefore, an emergency is declared to exist and this Ordinance, being necessary for the public peace, health, and safety, shall be in force upon its passage and approval. 7f APPROVED AND ADOPTED THIS THIRD DAY OF SEPTEMBER, 1992. ~". LJ ~ ~ TOMMY SWAIM, MpO , ATTEST: ~A1 YA. d~~R J ~LbLA M. LEONARD, CITY CLERK :2uc. / ROBERf E. BAMB~CI~ORNEY "............ CERTIFICATE STATE OF ARKANSAS) ) COUNTY OF PULASKI) I, Lula M. Leonard, City Clerk within and for the City aforesaid, do hereby certify that the foregoing is a true and correct copy of Ordinance No. 977 (#16-92) of the Ordinances of the City of Jacksonville, Arkansas, entitled: "AN ORDINANCE APPROVING THE ISSUANCE OF HOSPITAL REVENUE BONDS; DECLARING AN EMERGENCY; AND, FOR OTHER PURPOSES"; adopted by the City Council of the City on September 3, 1992, as the same now appears of record in this office. I~ WITNESS.WHER~O~~I have hereunto set my hand and seal of off loe on thls 3'~ day of September, 1992. ~cn. " " LULA M. LEONAR ,