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VW ORDINANCE NO. /1)00 AN ORDINANCE AUTHORIZING THE ISSUANCE OF HOSPITAL REVENUE BONDS FOR THE PURPOSE OF PROVIDING PERMANENT FINANCING FOR HOSPITAL FACILITIES; AUTHORIZING A TRUST INDENTURE SECURING THE BONDS; AUTHORIZING A LOAN AND SECURITY AGREEMENT BETWEEN THE CITY OF BATESVILLE, ARKANSAS AND BATESVILLE MEDICAL INVESTORS LIMITED PARTNERSHIP; AUTHORIZING THE SALE OF THE BONDS; AND AUTHORIZING AND PRESCRIBING OTHER MATTERS PERTAINING THERETO. WHEREAS, the City of Batesville, Arkansas (the "City"), is authorized and empowered under the provisions of Arkansas Acts 1961, No. 175, as amended (the "Act"), to issue revenue bonds and to expend the proceeds thereof to finance the acquisition, construction and equipment of land, buildings or facilities which can be used as health care facilities; and WHEREAS, it is proposed that the City provide permanent financing, through the issuance of revenue bonds under the Act, of the costs to Batesville Medical Investors Limited Partnership, an Arkansas limited partnership (the "Partnership"), of acquiring the existing Grays Hospital in the City and constructing and equipping certain improvements thereto (the "Project"); and WHEREAS, pursuant to and in accordance with the provisions of the Act, the City is now prepared to proceed with financing the Project and to issue and sell $3,500,000 in principal amount of its Hospital Revenue Bonds (Grays Hospital Project), Series 1983 (the "Bonds"), to provide such financing; and WHEREAS, copies of the hereinafter described Trust Indenture and Loan and Security Agreement have been presented to and are before this meeting; NOW, THEREFORE, BE IT ORDAINED by the City Council of the City of Batesville, Arkansas: Section 1. That the issuance of the Bonds is hereby authorized. The Bonds shall be issued in the forms and denomina- tions, shall be dated, shall be numbered, shall mature shall bear interest and shall be subject to redemption prior to maturity all upon the terms and conditions recommended by the Partnership and to be set forth in the Trust Indenture (hereinafter authorized) securing the Bonds.