0298 Y
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ORDINANCE NO. a
AN ORDINANCE AUTHORIZING THE ISSUANCE OF TEMPORARY
HOSPITAL REVENUE BONDS, SERIES 13, FOR THE PURPOSE OF
FINANCING THE COST TO THE CITY OF THE CONSTRUCTION
AND EQUIPMENT OF AN EXTENSION TO THE CITY OF JACKSON-
VILLE, ARKANSAS HOSPITAL (THE REBSAMEN MEMORIAL HOSPITAL);
AUTHORIZING A SUPPLEMENTAL TRUST INDENTURE SECURING
THE BONDS; PRESCRJT3ING1 OTHER MATTERS PERTAINING THERETO;
AND DECLARING AN EMERGENCY,
WHEREAS, it has been determined by the City Council of the City of
Jacksonville, Arkansas (the "City ") that there exists an immediate necessity for
the construction and equipment of an extension (the "improvements ") to the City
hospital (known as the "Rebsamen Memorial Hospital ") in order that adequate
medical facilities may be provided for the inhabitants of the City; and
WHEREAS, the total estimated cost of the improvements is approximately
$400,000; and
h
WHEREAS, it is anticipated that permanent financing of the improvements
will be obtained from federal grant funds, or, if federal grant funds are not
received, or are insufficient to pay the total cost of the improvements, the City -
will issue permanent hospital revenue bonds in the amount necessary to pay
such portion of the costs of the improvements not paid from federal grant funds; or
and
WHEREAS, in order to proceed expeditiously with the improvements, it is
necessary for the City to provide interim financing prior to the time the permanent
financing is available; and
WHEREAS, the City has issued and there are now outstanding hospital
revenue bonds of the City designated "City of Jacksonville, Arkansas Hospital 1.
Revenue Bonds, Series A"
dated February 1, 1972 (the "Series A Bonds"),
in the
(unconverted) principal amount of $600,000 and the Series A Bonds are secured
by a Trust Indenture executed byaid between the City and the Trustee dated as of
February 1, 1972 (the "Indenture "); and
ORD. BOOK #PAGE # + 7 v
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Page 2
WHEREAS, the Indenture authorizes the issuance of additional bonds, in
series, secured by the Indenture, in the total (unconverted) principal amount of
$400,000; and
WHEREAS, the City has made the necessary arrangements to sell not to
exceed $400,000 in principal amount of Temporary Series B Bonds to Stephens,
Inc., Little Rock, Arkansas, at a price of par for bonds bearing interest at 7%
per annum; and
WHEREAS, it is necessary and appropriate in connection with the issuance
of the Temporary Series B Bonds that the City execute and deliver a Supplemental
Trust Indenture (the "Supplemental Indenture ") in favor of the holders of the bonds.
NOW, THEREFORE, BE IT ORDAINED, by the City Council of the City of
Jacksonville, Arkansas;
Section 1. The improvements shall be accomplished.
Section 2. In order to provide interim financing for the accomplishment of
the improvements, the sale and issuance of the Temporary Series B Bonds as
described in detail hereinafter) is hereby authorized. ti
Section 3. To secure the Temporary Series B Bonds and to prescribe the
terms and conditions upon which the bonds are to be secured, executed, authenticated,
accepted, held and paid and the delivery of the bonds, the Mayor and City Clerk
of the City are hereby authorized and directed to execute the Supplemental Indenture
and to affix the seal of the City thereto and to attest the Supplemental Indenture,
and the Mayor and City Clerk are hereby authorized and directed to cause the
Supplemental Indenture, which constitutes and is hereby made a part of this
Ordinance, to be in substantially the following form:
ORD. BOOK #PAGE #�
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FIRST SUPPLEMENTAL TRUST 'INDENTURE
THIS FIRST SUPPLEMENTAL TRUST INDENTURE executed and delivered
as of the 1st day of September, 1973, by and between The City of Jacksonville,
Arkansas (the "City ") and First Jacksonville Rank, Jacksonville, Arkansas, a
banking institution organized and existing under the laws of the State of Arkansas
with its principal office and post office address in Jacksonville, Arkansas (the
"Trustee ").
WITNESSETH:
WHEREAS, the City now owns a hospital which serves the citizens and
inhabitants of the City, being the Rebsamen Memorial Hospital (the "Hospital ");
and
WHEREAS, the City has issued and there are now outstanding hospital
revenue bonds of the City, sold and issued under the provisions of Act No. 175
of the Acts of Arkansas of 196], as amended, designated "City of Jacksonville,
Arkansas Hospital Revenue Bonds, Series A" dated February 1, 1972 (the "Series A
Bonds "), in the (unconverted) principal amount of $600,000; and
WHEREAS, the Series A Bonds are secured by a Trust Indenture executed
by and between the City and the Trustee dated as of February 1, 1972 (the "Indenture ");
and
WHEREAS, the City has determined to issue temporary additional bonds for
the purpose of providing interim financing of extensions and improvements to the
Hospital; and
WHEREAS, the Indenture authorizes the issuance of additional bonds, in series,
secured by the Indenture, in the total (unconverted) principal amount of $400,000;
and •
WHEREAS, the City offered for sale its Hospital Revenue Bonds, Temporary
Series B, in the unconverted principal amount of $400,000 (the'Temporary Series
B Bonds ") and has sold the Temporary Series B Bonds to Stephens, Inc., Little
Rock, Arkansas (the "purchaser ") at a price of par for bonds bearing interest at
7% per annum; and
ORD. BOOK # p7
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WHEREAS, the execution and delivery of this first Supplemental Trust
Indenture and the issuance and delivery of the Temporary Series B Bonds have in
all respects been duly authorized by Ordinance No, of the City, adopted
and approved on the __day of 3973; and
WHEREAS, the Temporary Series 13 Bonds and the Trustee's Certificate
to be endorsed thereon are to be in substantially the following form with necessary
and appropriate variations and insertions as permitted or required by the Indenture
or this First Supplemental Trust Indenture:
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ORD, BOOK 7_9 PAGE 7 7 D
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(form of Bond)
UNITED STATES 01' AMERICA
STATE OF ARKANSAS
COUNTY OE PULASKI
CITY OF JACKSONVILLE
7% HOSPITAL REVENUE BOND, SERIES B (TEMPORARY)
No. RB-
$50,000
KNOW ALL MEN BY THESE PR]SENTS:
That the City of Jacksonville, County of Pulaski, State of Arkansas
(the "City "), acknowledges itself to owe, and for value received, hereby promises
to pay to
or assigns
(the "Registered Owner ") on the first day of February, 1974, the principal sum
of
FIFTY THOUSAND DOLLARS
in such coin or currency of the United States of America as the time of payment
shall be legal tender for the payment of debts due the United States of America,
and to pay interest On the principal sum hereof, in like coin or currency, at the
l
rate of seven per cent (7%) per annum from the date hereof until paid. Interest is
payable on February 1, 1974. Payment of principal and interest shall be at the
principal office of First Jacksonville Bank, Jacksonville, Arkansas (the "Trustee"
and "Paying Agent").
This bond is one of a series of Hospital Revenue Bonds, Series B (Temporary)
authorized in the aggregate principal amount of not to exceed $400,000 (the
"Temporary Series B Bonds ") being issued for the purpose of providing interim
financing of the cost of constructing and equipping an extension (the "construction ")
to the City Hospital (the "Hospital"), P ), paying necessary expenses and making ,
necessary expenditures incidental thereto and paying the expenses of the issuance
of the Temporary Series B Bonds.
The Temporary Series B Bonds are part of an authorized issue of bonds in
the total (unconverted) principal amount of $1,000,000 (the "bonds "), and the
City has previously issued Series A Bonds in the (unconverted) principal amount of
$600,000.
ORD. BOOK #_.....Q PACE f_217_)._
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The Temporary Series B Bonds are issued pursuant to and in full compliance
with the Constitution and laws of the State of Arkansas, including particularly
Act No. 175 of the Acts of Arkansas of 1961, as amended, and an Ordinance of
the City, duly adopted and approved, which Ordinance sets forth in detail the
terms and conditions upon which the Temporary Series B Bonds are issued (the
"Authorizing Ordinance "). The Temporary Series 13 Bonds are not general obligations
of the City and do not constitute an indebtedness of the City within any consti-
tutional or statutory limitation. The bonds are issued under, and all of the bonds,
regardless of series, are equally and ratably secured by a Trust Indenture, by
and between the City and the Trustee, which Trust Indenture sets forth the terms
and conditions governing the issuance of the bonds, the nature and extent of
the security, which includes a lien on the properties described in the Trust
Indenture, the pledge of revenues, and the rights and obligations of the City, the '
Trustee and the holders and registered owners of the bonds. In connection with
the issuance of the Temporary Series B Bonds the City has executed and delivered
a First Supplemental Trust Indenture, authorized by the Authorizing Ordinance. A
copy of the Trust Indenture (as supplemented by the First Supplemental Trust Indenture)
is recorded in the office of the Circuit Clerk and Ex Officio Recorder of Pulaski
County, Arkansas, and reference may be•had thereto by any interested person.
Among other things, the City has covenanted in the Trust Indenture to issue and •
deliver, prior to the maturity of the Temporary Series B Bonds, permanent hospital,'
revenue bonds to the extent necessary to provide for payment of the principal of
the Temporary Series B Bonds.
The Temporary Series B Bonds shall not be subject to redemption prior to
maturity.
IT IS HEREBY CERTIFIED, RECITED AND DECLARED that all acts, conditions
and things required to exist, happen and be performed precedent to and in the issuance
of the Temporary Series 13 Bonds, have existed, have happened and have been
ORD. BOOK # 0
performed in due time, form and manner, as required by law; that the indebtedness
represented by the bonds (including the Temporary Series B Bonds) does not
exceed any constitutional or statutory limitation; and that hospital revenues have
been pledged to and will be set aside for payment of principal of and interest on
the bonds in accordance with the provisions of the Trust Indenture.
This bond shall not be valid until the Certificate of Authentication hereon
shall have been signed by the Trustee.
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IN WITNESS WHEREOF, the City of Jacksonville, Arkansas, has caused this
bond to be executed in its name by the Mayor and City Clerk, and its seal to be
affixed, all as of the day of 1973.
CITY OF JACKSONVILLE, ARKANSAS
ATTEST:
Mayor
City Clerk
(SEAL)
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TRUSTEE'S CERTIFICATE OF AUTHENTICATION
This Temporary Series B Bond is one of the bonds described herein
aggregating not to exceed $400,000.
FIRST JACKSONVILLE BANK
JACKSONVILLE, ARKANSAS
By
Authorized Signature
ASSIGNMENT
For value received, the registered owner last listed below sells, conveys,
transfers, assigns and delivers this bond to the assignee last listed below,
REGISTERED OWNER ASSIGNEE
ORn
Dan •70
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and
WHEREAS, all things necessary to make the Temporary Series B Bonds
when authenticated by the Trustee and issued as in the Indenture and this First
Supplemental Trust Indenture provided, the valid, binding and legal obligations
of the City according to the import thereof, and to constitute the Indenture and
this First Supplemental Trust Indenture a valid lien on the properties mortgaged r.
and a valid pledge of the revenues therein made to the payment of the principal
of and interest on the Temporary Series B Bonds, have been done and performed,
and the creation, execution and delivery of this First Supplemental Trust Indenture
and the creation, execution and issuance of the Temporary Series B Bonds subject
to the terms hereof have in all respects been duly authorized.
NOW, THEREFORE, KNOW ALL MEN BY THESE PRESENTS, THIS FIRST SUPPLE-
MENTAL TRUST INnENTURE WITNESSETH:
Section 1. Section 102 of the Indenture is hereby amended by adding at
the end thereof an additional paragraph as follows:
The City has duly authorized a series of bonds, secured by this Indenture,
in the aggregate principal amount of not to exceed $400,000 designated "City of
Jacksonville, Arkansas Hospital Revenue Bonds, Series B (Temporary)" (the -
"Temporary Series B Bonds "). The Temporary Series 13 Bonds shall be in the
denomination of $50,000 each and shall be numbered consecutively from RB -1
upward. The Temporary Series 13 Bonds shall be typewritten, shall be delivered
from time to time, as funds are needed, shall be dated the date of delivery, shall
bear interest at the rate of 7% per annum and shall mature on February 1, 1974.
The City shall notify the Trustee and the purchaser, not less than seven (7) days
before each delivery, of its intent to deliver bonds. The notice may be verbal,
but must be confirmed in writing. The Temporary Series 13 Bonds shall not be
subject to redemption prior to maturity. Unless other funds for payment of principal
of the outstanding Temporary Series B Bonds are available, the City shall, prior
to the maturity, issue and deliver permanent hospital revenue bonds in an amount
ORD. BOOK # PAGE 1I
sufficient to pay such principal. The Temporary Series B Bonds shall be issued
as fully registered bonds.
Section 2. The terms and provisions of the Indenture as supplemented
hereby are hereby ratified and confirmed and shall extend to the protection of the
holders of the bonds of each series outstanding, including without limitation
the holders of the Temporary Series 13 Bonds.
IN WITNESS WHEREOF, the City of Jacksonville, Arkansas has caused
these presents to be signed in its name and behalf by the Mayor and its Beal
to be hereunto affixed and attested by the City Clerk, and to evidence its
acceptance of the trusts hereby created and continued, First Jacksonville Bank,
Jacksonville, Arkansas, has caused these presents to be signed in its name and
behalf by its and its corporate seal to be hereunto
affixed and attested by its , all as of the 1st day
of September, 1973.
CITY OF JACKSONVILLE, ARKANSAS
ATTEST:
By
Mayor
City Clerk
(SEAL)
FIRST JACKSONVILLE BANK
JACKSONVILLE, ARKANSAS
By
ATTEST:
(title)
(title)
(SEAL)
ORD. BOOK PAGE 1
ACKNOWLEDGMENT
STATE OF ARKANSAS
COUNTY OF PULASKI
On this day of , 1973, before me, a Notary Public duly,
commissioned, qualified and acting within and for the State and County aforesaid,
appeared in person the within'named and
Mayor and City Clerk, respectively, of the City of Jacksonville, Arkansas, to per-
sonally known, who stated that they were duly authroized in their respective capacities
to execute the foregoing instrument for and in the name of the City, and further stated
and acknowledged that they had signed, executed and delivered said foregoing instru-
ment for the consideration, uses and purposes therein mentioned and set forth.
IN TESTIMONY WHEREOF, I have hereunto set my hand and official seal this
day of , 1973.
Notary Public
(SEAL)
ORD. BOOK # o) ^ PAGE #
ACKNOWLEDGMENT
STATE OF ARKANSAS
COUNTY OF PULASKI
On this day of , 1973, before me, a Notary Public duly
commissioned, qualified and acting within and for the State and County aforesaid,
appeared in person the within named and
and , respectively, of First Jacksonville
Bank, Jacksonville, Arkansas, to me personally known, who stated that they were duly
authorized in their respective capacities to execute the foregoing instrument for and in
the name and behalf of the Bank, and further stated and acknowledged that they had so
signed, executed and delivered said foregoing instrument for the consideration, uses
and purposes therein mentioned and set forth.
IN TESTIMONY WHEREOF, I have hereunto set my hand and official seal this
day of , 1973.
Notary Public
(SEAL)
ORD. BOOK # c PAGE #? O •
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Section 4. The Mayor and the City Clerk for and on behalf of the
City are authorized and directed to do any and all things necessary to effect
the execution and delivery of the Supplemental Indenture, its execution and
acceptance by the Trustee, the performance of all obligations of the City under
the Supplemental Indenture, the execution and delivery of the Temporary Series
13 Bonds, and the performance of all other acts of whatever nature necessary
to effect and carry out the authority conferred by this Ordinance and the Supplemental
. Indenture. The Mayor and City Clerk are 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 accomplishment of the authority conferred
by this Ordinance and the Supplemental Indenture and to evidence that authority
and its exercise.
Section 5. The provisions of this Ordinance are severable. If any
provisions of this Ordinance shall for any reason be held invalid or inapplicable
to any person or circumstance, such holding shall not affect the validity or
applicability of the remainder of the Ordinance.
,.
Section 6. All Ordinances and Resolutions or parts thereof in conflict
herewith are hereby repealed to the extent of such conflict.
Section 7. No rights accrue or arise under or pursuant to this Ordinance
or the Temporary Series B Bonds until delivery of the Temporary Series B Bonds.
Section 8. It has been found and it is hereby declared that the need
for adequate hospital facilities endangers the life, health and welfare of the
inhabitants of the City, and the adequate facilities can be made available only
by the issuance of the Temporary Series B Bonds authorized by this Ordinance.
Therefore, an emergency is declared to exist and this Ordinance being immediately
necessary for the preservation of the public peace, health and safety shall take
effect and be in full force from and after its passage and approval.
Passed this )4 day of �,cr4.7 , 1973.
ATTEST:
Mayor
•LPL v7LL/L(�
City C,15/1 1?R[.5. ROOK #,__P GE #?�
(SEAL)
CERTIFICATE
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The undersigned, City Clerk of the City of Jacksonville, Arkansas,
hereby certifies that the foregoing pages are a true and perfect copy of
Ordinance No, , adopted at a session of the City Council,
held at the regular meeting place in the City at .m., on the
__day vk
of , 1973, and that the Ordinance is of record in Ordinance
Record Book No, , Page , now in my possession.
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GIVEN under my hand and seal on this _day of
1973.
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City Clerk
(SEAL)
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DUD. HOOK t a._. r fic>f 7 O_
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