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<br />the interest rates thereon, and any other changes deemed <br />necessary or desirable, intended to constitute the form of <br />the final Official Statement, and including all Appendices <br />thereto (together the "Official Statement"), describing the <br />offering of the Bonds, and certain terms and provisions of <br />the foregoing documents. . <br /> <br />3. <br />that: <br /> <br />Findings. It is hereby found, determined and declared <br /> <br />(a) The Improvements constitute a health care <br />facilities project authorized by and described in the Act. <br /> <br />(b) There is no litigation pending or, to the best of <br />its knowledge, threatened against the City relating to the <br />Bonds, the Loan Agreement, the Bond Purchase Agreement or <br />the Indenture or questioning the due organization of the <br />City, or the powers or authority of the City to issue the <br />Bonds and undertake the transactions contemplated hereby. <br /> <br />(c) The execution, delivery and performance of the <br />City's obligations under the Bonds, the Indenture the Bond <br />Purchase Agreement and the Loan Agreement do not and will <br />not violate any order of any coùrt or other agency of <br />government of which the City is aware or in which the City <br />is a party, or any indenture, agreement or other instrument <br />to which the City is a party or by which it or any of its <br />property is bound, or be in conflict with, result in a <br />breach of, or constitute (with due notice or lapse of time <br />or both) a default under any such indenture, agreement or <br />other instrument. <br /> <br />(d) It is desirable that the Bonds be issued by the <br />City upon the terms set forth in the Indenture, under the <br />provisions of which the City's interest in the Loan <br />Agreement will be pledged to the Trustee as security for the <br />paYment of principal of, premium, if any, and interest on <br />the Bonds. <br /> <br />(e) The Loan Agreement provides for payments by the <br />Company to the Trustee for the account of the City of such <br />amounts as will be sufficient to pay the principal of, <br />premium, if any, and interest on the Bonds when due. The <br />Loan Agreement obligates the Company to pay for all costs of <br />operation and maintenance of the Project facilities, <br />including adequate insurance, taxes and special assessments. <br />A reserve fund has been established under the provisions of <br />the Indenture in connection with the issuance of the Bonds. <br /> <br />346051. 1 <br /> <br />5 <br />