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BE IT REMEMBERED, that the White County Commissioners held a regular meeting on October 16, 2006, at 8:00 a.m. in the Commissioners Conference room in the White County Courthouse.

Commissioners present were: President John C. Heimlich, Vice President Steve Burton, and Member O.D. “Bud” Ferguson. Also present was the White County Auditor Mary Jo Pool, White County Attorney George Loy, and the Commissioners Assistant Donya Tirpak.

 

MINUTES

  • Commissioner Ferguson made a motion to approve the minutes as presented for the regular meeting on October 2006, seconded by Commissioner Burton. Vote: Unanimous

PAYROLL

  • Commissioner Burton made a motion to approve the payroll for October 23, 2006, seconded by Commissioner Ferguson. Vote: Unanimous

APPROVING VOTING PLACES IN WHITE COUNTY

White County Clerk, Bruce Lambert, presented the list of voting places in White County for the general election on November 7, 2006.

 

Big Creek Chalmers Town Hall

Cass Richard Welker Residence

Honey Creek Reynolds Fire Houes

Jackson Burnettsville Community Center

Liberty 1 Buffalo Fire House

Liberty 2 Sitka Baptist Church

Lincoln Monon Fire House

Monon 2 North White High School

Monon 3 (Temporary) North White High School

Prairie 1 Frontier – Brookston Gym

Prairie 2 Frontier – Brookston Gym

Princeton 1 Firehouse Community Room

Princeton 2 Firehouse Community Room

Round Grove Don Burton Residence

Union 1 American Legion

Union 2 CDC Resource Center

Union 3 Moose Lodge

Union 4 County Building

Union 5 County Building

Union 6 County Building

Union 7 County Building

West Point Tri-County High School

 

  • Commissioner Ferguson made a motion to approve the voting places for White County for the General Election on November 7, 2006, as presented, seconded by Commissioner Burton. Vote: Unanimous

 

VACATION OF PUBLIC ROADWAY

Lucille P. Uttermohlen, Attorney for and Co-Executor of the Estate of Carolyn R. Piotrowski, appeared before the Commissioners filing a petition to vacate a certain roadway platted and dedicated to public use as Row Road crossing the property commonly known as 5343 East Wayside Court, Monticello, Indiana, Liberty Township.

 

 

Commissioner Heimlich asked if there was anyone wishing to speak about the petition roadway.

 

Ronald Bortscheller, 5353 E. Wayside Court, pointed out that the legal description that was advertised in the newspaper and the survey does not include a 3’x 10’ platted road.

 

After reviewing the petition and the legal land survey done by James Milligan on October 8, 1981, White County Attorney George Loy noticed that the legal description in the petition was not the same as the survey. Attorney Loy said that it must be corrected before any action can be made.

 

White County Highway Superintendent Steve Brook was present and said that he did not have any discrepancy vacating the road.

 

Commissioner Heimlich said that the public hearing will have to be continued until the next meeting on November 6th, at 8:15 a.m.

UNIVERSAL VALUATION CONTRACT

Commissioner Heimlich discussed a contract that the county renews every year with Universal Valuation, Inc. where they provide an appraisal report of the entire county owned buildings. This information is needed for insurance purposes only. This year they will provide a personal inspection of all of the buildings being appraised. The following years they will provide a written evaluation update based upon upgrades provided by the county. This year the cost, which involves a personal inspection, is $4,380.00, and the next ten-year annual updates will cost $460.00/annually.

 

  • Commissioner Ferguson made a motion to approve the contract with Universal Valuation, Inc., to provide an appraisal report of all of the county owned buildings at the cost of $4,380 for 2006, Seconded by Commissioner Burton. Vote: Unanimous

LAKEVIEW HOME – WRITE-OFF UNCOLLECTABLE FEES

White County Auditor Mary Jo Pool presented an ordinance to write-off uncollectable fees for Lakeview Home. The fees are from John Heichel in the amount of $25,812.00. Mr. Heichel has been removed from the home and is never to return.

 

  • Commissioner Burton made a motion to approve Ordinance No. 06-10-16-06 to write-off uncollectable fees from John Heichel in the amount of $25,812.00, seconded by Commissioner Ferguson. Vote: Unanimous

ORDINANCE NO. 06-10-16-06

Ordinance to write-off uncollectable fees for Lakeview Home. Be it ordained by the Board of County Commissioners of White County, Indiana:

The fees for the following person is uncollectable and the Board of Commissioners of White County, Indiana desire to remove this uncollectable fee from the ledgers of the Lakeview Home and the White County Auditor.

John Heichel $25,812.00

The White County Auditor is hereby authorized to remove the above described fees from the ledger of the Lakeview Home as uncollectable and corrected as of October 16, 2006.

Adopted and passed by the Board of County Commissioners of White County, Indiana this 16th day of October, 2006.

At this time, County Council President James Mann called the County Council members to order in joint session with the County Commissioners. Council members present were:

 

James Mann Dennis Cain Dennis Carter

Richard “Buzz” Horton Kevin “Casey” Crabb Faye Lowring

Ronald Schmierer

 

BUILDING INSPECTOR

White County Building Inspector Dave Anderson reported that there were 54 permits issued last month. Of the 54 permits 15 were for new houses. Ten conventional built, three for manufacturing homes, and two used manufacturing homes.

 

E-911

Terri Conwell, Director, reported that the new EMD (Emergency Medical Dispatch) law requirements start January 2007. Terri has been talking with other 911 Directors in the state and she is looking into changing from using PowerPhone as our training provider, to using APCO (Association of Public Safety Communications). Currently, all of the full-time dispatchers are certified for EMD. The part-time dispatchers are not all certified. The cost of going to a class held by PowerPhone is increasing and the locations of the classes sometimes mean paying out the added costs of hotel rooms and mileage for the 3 day class. If she goes to APCO, she can have two dispatchers take the on-line course to get certified to be instructors. Terri can also hold her own classes and save on the travel time and other costs involved. She will be having a meeting soon to discuss this with the dispatchers.

 

COUNCIL ON AGING

White County Council & Aging Director Gale Spry presented the Quarterly Operating Financial Status Report for the third quarter. The Council on Aging has drawn $64,996, (68%) from the Federal share and $38,210, (66%) from the State share.

 

The total reimbursement for third quarter will be $30,453.

 

She also reported that their grant application was approved for next year and they will be purchasing a new van. There is a 20% match ($7,600). Gale doesn’t think that this will be a problem because she has a lot of verbal commitments.

 

WHITE COUNTY ECONOMIC DEVELOPMENT

White County Economic Development Director, Connie Neininger, appeared presenting her September 2006 Activity Director’s Report. Connie said that she attended the Indiana Economic Development Conference.

 

Bio-Town

Reynolds has formed their Bio-Town Authority and they have also opened the new Bio-Town Gas Station and they are up and running their Bio-Island.

 

Connie asked the County Commissioners and Council to write a letter of support to the Indiana Economic Development Corporation for a potential ethanol plant that could be moving in north of Reynolds.

 

VeraSun Energy, which has facilities in both South Dakota and Iowa, is exploring the option of partnering with the community to construct a 110 million-gallon ethanol plant that would bring $150 million investment and up to 50 permanent jobs to White County.

 

Connie said that the letter of support from the county will be sent in to the Indiana Economic Development Corporation to ask for additional incentives and support from the state for this project. The county will also be working with INDOT for road improvements that will need to be made. Discussion has also been made to designating the area as a TIF (Tax Increment Financing) District.

 

Commissioner Heimlich said that a joint resolution would be called for by our County Attorney.

 

  • Commissioner Burton made a motion to send a letter of support to the Indiana Economic Development Corporation for an ethanol production facility to be located north of Reynolds in White County, seconded by Commissioner Ferguson. Vote: Unanimous

  • Councilman Crabb made a motion to send a letter of support to the Indiana Economic Development Corporation for an ethanol production facility to be located north of Reynolds in White County, seconded by Councilman Carter. Vote: Unanimous

Career Fair

Connie reported that the first White County Career Fair held at the Brandywine turned out to be a great success. Everything went very well with an attendance around 300 people.

 

Ivy Tech

The Ivy-Tech Higher Education group will be meeting on Tuesday, October 31st, at the 4-H Fairgrounds. Currently, Connie is working with K-IRPC to find some potential grants that will help with the renovation of the Medical Arts Building. They have found one that is $500,000 with a 50% match. At this time they are not going to pursue any fundraising for the project but continue to look for grants.

 

Connie asked the Commissioners and Councilman for volunteers to sit on a committee to prepare a Lease Contract between the county and Ivy-Tech for the Medical Arts Building. Councilman Richard “Buzz” Horton, Councilman Dennis Carter, and Commissioner Heimlich said that they would sit on the committee.

 

Connie did mention that she looks for an opening date for Ivy-Tech to be the fall of 2008.

 

LAKEVIEW HOME

Lakeview Home Director Kae Fuller appeared to present her monthly report.

 

She has filled the two open positions that she discussed at the last meeting.

 

Kae has contacted the architect about the changes in the grant proposal and there is a public hearing scheduled for November 20th.

 

Kae will be on vacation November 2 - 18.

 

HOSPITAL

White County Memorial Hospital CED Paul Cardwell appeared before the Commissioners presenting the Financial Analysis report for September 2006.

 

Even though the Feds haven’t paid them their money for the Medicare, Mr. Cardwell reported that they still had a great month. The gross revenue for the month was $2,896,000 with a profit of $23,660. Last month their cash position was $7.5 million and they are now up to $7.9 million.

 

Mr. Cardwell said that the Hospital Association board members will be attending their meeting tomorrow night to discuss the resolution that will be discussed today.

 

Mr. Cardwell said that the bank closing was done on the last day of September for the Medical Arts Building. The full financing for the MAB was done with Lafayette Bank & Trust.

 

To give back to the community, Paul explained a program that the hospital has been offering to their employees for about three years now. The program is called Technical Assistance which it gives employees an opportunity to go back to college or switch their careers with financial assistance and scholarships from the hospital. Last year the hospital spent up to $1 million in offerings.

 

HIGHWAY DEPARTMENT

Commissioner Heimlich announced that White County has received $560,715.81 from the State for Major Moves from the Governor. White County Highway Superintendent Steve Brooke said that we are supposed to get the same amount again next year.

 

The White County Council and Commissioners congratulated White County Highway Superintendent Steve Brooke for 25 years of dedicated service to the county.

 

6th STREET UPDATE

Kevin Jasinski, Project Development Director, said that Phase I, CR 225 to the entrance of Indiana Beach, is in progress and is about 10% complete. Utilities are being relocated and everything continues to be on schedule.

 

Phase II, South Street from Gordon Road to U.S. 24, appraisals on property needed for right-of-ways will begin in November and offers on those properties will go out late December. Construction is to begin on Phase II in September 2007 and be completed September 2008.

 

Phase III, U.S. 24 to CR 225, a public hearing was held on September 21st. At the meeting a lot of concern from the public was voiced about the walking path, along the industrial businesses on the east side) and the location of the roadway centerline. Another meeting will be held with key representatives will be held to discuss these concerns.

 

HOSPITAL PROJECT –

White County Attorney George Loy discussed the ordinance that the County Council will consider today. The Bond Ordinance presented to the council is for the refunding of the existing hospital bond lease from 1994, $4,900,000, and the new county hospital financing. This will be done with a five year general obligation bond through the county that will provide annual payments of $180,000. The ordinance authorizes a refunding bond, in an amount not to exceed $900,000.

 

AT THIS TIME, White County Attorney George Loy announced the opening of a Public Hearing concerning an additional appropriation of White County. The public hearing is opened at 10:00 a.m. on Monday, October 16, 2006, in the Commissioner’s Conference Room of the White County Courthouse.

 

Attorney George Loy asked if there were any public comments or questions. There was no response.

 

Attorney George Loy closed the public hearing.

 

  • Councilman Richard Horton made a motion to consider this ordinance for passage on the first reading, seconded by Councilman Dennis Carter. Vote: Unanimous

  • County Councilman Richard “Buzz” Horton made a motion to consider passage of the Bond Ordinance adopting Ordinance No. 2006-10-16-02 authorizing the issuance of Bonds for the purpose of refinancing the obligations of the county under a lease between the White County Hospital Association and the County, and incidental paying expenses in connection therewith and on account of the issuance of the bonds, seconded by Councilman Dennis Carter. Vote: Unanimous

ORDINANCE NO. 2006-10-16-02
ORDINANCE OF THE WHITE COUNTY COUNCIL AUTHORIZING
THE ISSUANCE OF BONDS FOR THE PURPOSE OF REFINANCING THE OBLIGATIONS OF THE COUNTY UNDER A LEASE BETWEEN THE WHITE COUNTY HOSPITAL ASSOCIATION AND THE COUNTY, AND INCIDENTAL PAYING EXPENSES IN CONNECTION THEREWITH
AND ON ACCOUNT OF THE ISSUANCE OF THE BONDS

WHEREAS, White County Hospital Association (the “Association”) issued its First Mortgage Bonds, dated August 1, 1994, in the original aggregate principal amount of Four Million Nine Hundred Thousand Dollars ($4,900,000) (the “1994 Bonds”), the proceeds of which were used to construct certain hospital facilities operated by The Board of Trustees of White County Memorial Hospital (the “Hospital”); and

WHEREAS, the Association and White County, Indiana (the “County”), acting through the Board of Commissioners of the County (the “Board”) and the Hospital entered into a Lease, dated as of June 30, 1994, as amended (the “1994 Lease”), the lease rentals from which secured the payment of the principal of and interest on the 1994 Bonds; and

WHEREAS, a portion of the lease rentals under the Lease were payable from an annual levy of ad valorem property taxes on all taxable property in the County sufficient to produce One Hundred Eighty Thousand Dollars ($180,000), and the remaining lease rentals were payable from net revenues of the Hospital; provided however to the extent net revenues of the Hospital were insufficient, such remaining amount was payable from a levy of ad valorem property taxes on all taxable property in the County; and

WHEREAS, the County Council (the “Council”) of the County has considered the issuance of bonds, the proceeds which together with other funds contributed by the Hospital or the Association, will be sufficient to refinance and retire the 1994 Bonds, and correspondingly refinance the County's obligations under the 1994 Lease (the “Refinancing”), and to pay related and incidental expenses to be incurred in connection therewith and on account of the issuance of bonds therefor; and

WHEREAS, Indiana Code Section 5-1-5 provides that the council of a county may by ordinance provide for the issuance of bonds to refund outstanding obligations of the county, and to pay redemption premiums and costs of refunding, to effect a savings to such county; and

WHEREAS, the Council desires to authorize the issuance of refunding bonds for the purposes of providing funds, together with other funds of the Hospital or the Association, for the refunding of all of the 1994 Bonds outstanding on the date hereof (the “Refunded 1994 Bonds”), including the payment of any redemption premiums and costs of refunding, the payment of accrued interest on such refunding bonds, and the payment of costs of issuance of such refunding bonds; and

WHEREAS, the Council, after consideration of the estimated or known interest payable to the fixed maturities of such refunding bonds, the interest payable on the Refunded 1994 Bonds, the costs of issuance of such refunding bonds, including any sale discount, the redemption premiums, if any, to be paid, and the probable earned income from the investment of the proceeds of such refunding bonds pending redemption of the Refunded 1994 Bonds, has determined that a saving to the County will be effected by such a refunding; and

WHEREAS, the Council now finds that all conditions precedent to the adoption of an ordinance authorizing the issuance of refunding bonds have been complied with in accordance with the provisions of Indiana Code 5-1-5 and 36-2-6-18 (collectively, the “Act”); and

WHEREAS, the original principal amount of the 2006 Bonds (as defined herein), together with the outstanding principal amount of previously issued bonds which constitute a debt of the County, on the date of issuance of the 2006 Bonds will be no more than two percent (2%) of the total net assessed valuation of the County; and

WHEREAS, notice has been given and a public hearing has been conducted regarding such appropriation prior to final passage of this Ordinance, as required by Indiana law; and

WHEREAS, the Council consequently seeks to authorize the issuance of refunding bonds pursuant to the Act and the sale of such refunding bonds pursuant to the provisions of the Act.

NOW, THEREFORE, BE IT ORDAINED BY THE COUNTY COUNCIL OF WHITE COUNTY, INDIANA AS FOLLOWS:

SECTION 1. Refunding; Authorization for Bonds. The Council, after consideration of the interest payable on the Refunded 1994 Bonds, the costs of issuance of the 2006 Bonds, including any sale discount, the redemption premiums, if any, to be paid, and the probable earned income from the investment of the proceeds of the 2006 Bonds pending redemption of the Refunded 1994 Bonds, hereby determines that a savings to the County will be effected by such refinancing. In order to provide for the refinancing of the Refunded 1994 Bonds and the costs of selling and issuing the 2006 Bonds, the County shall borrow money, and shall issue the 2006 Bonds as herein authorized. The County covenants that the proceeds of the 2006 Bonds will not be used for any purpose except as described in this Ordinance.

SECTION 2. General Terms of Bonds. In order to procure said loan for such purposes, the Auditor is hereby authorized and directed to have prepared and to issue and sell negotiable general obligation bonds of the County, in one or more series, in an aggregate principal amount not to exceed Nine Hundred Thousand Dollars ($900,000) (the “Authorized Amount”), to be designated “White County, Indiana [Taxable] General Obligation Bonds, Series 2006” (the “2006 Bonds”), for the purpose of refinancing the 1994 Refunded Bonds and, in turn, refinancing the County’s obligations under the 1994 Lease. An appropriation in the amount not to exceed the Authorized Amount, together with all investment earnings thereon, shall be made to pay for the governmental purposes to be financed by the 2006 Bonds, and the funds to meet said appropriation shall be provided out of the proceeds of the 2006 Bonds in the original principal amount of not to exceed the Authorized Amount and such investment earnings.

Such 2006 Bonds shall be signed in the name of the County by the manual or facsimile signatures of a majority of the Board and attested by the manual or facsimile signature of the Auditor of the County (the “Auditor”), who shall affix the seal of the County to each of the 2006 Bonds manually or shall have the seal imprinted or impressed thereon by facsimile or other means. In case any officer whose signature or facsimile signature appears on the 2006 Bonds shall cease to be such officer before the delivery of the 2006 Bonds, such signature shall nevertheless be valid and sufficient for all purposes as if such officer had remained in office until delivery thereof. The 2006 Bonds shall also be authenticated by the manual signature of the Registrar (as hereafter defined). Subject to the provisions of this Ordinance regarding the registration of the 2006 Bonds, the 2006 Bonds shall be fully negotiable instruments under the laws of the State of Indiana.

The 2006 Bonds are, as to all the principal thereof and interest due thereon, general obligations of the County, payable from unlimited ad valorem property taxes on all taxable property within the County.

The 2006 Bonds shall be issued in fully registered form in denominations of One Thousand Dollars ($1,000) or any integral multiple thereof, shall be numbered consecutively from 1 upward, shall be originally dated as of the first day of the month in which the 2006 Bonds are sold or the date of issuance as determined by the Auditor at the time of sale. The 2006 Bonds shall bear interest payable semi-annually on April 1 and October 1 of each year, beginning on the April 1 or October 15 determined by the Auditor at the time of sale, at a rate or rates not exceeding seven percent (7.0%) per annum. Interest shall be calculated on the basis of a 360-day year comprised of twelve 30-day months. The 2006 Bonds shall mature serially on April 1 and October 1 as finally determined by the Board and the Auditor as evidenced by delivery of the executed initial issue of the 2006 Bonds to the Registrar for authentication, provided that the original aggregate principal amount does not exceed the amount authorized above, that the first maturity shall be no earlier than April 1, 2007, and that the final maturity shall be no later than October 1, 2012.

All payments of interest on the 2006 Bonds shall be paid by check mailed one business day prior to the interest payment date to the registered owners thereof as of the fifteenth (15th) day of the month immediately preceding the month in which interest is payable at the addresses as they appear on the registration books kept by the Registrar (the “Registration Record”) or at such other address as is provided to the Paying Agent (as hereafter defined) in writing by such registered owner. Each registered owner of $100,000 or more in principal amount of 2006 Bonds shall be entitled to receive interest payments by wire transfer by providing written wire instructions to the Paying Agent before the record date for any payment. All principal payments on the 2006 Bonds shall be made upon surrender thereof at the principal corporate trust office of the Paying Agent, in any coin or currency of the United States of America which on the date of such payment shall be legal tender for the payment of public and private debts, or in the case of a registered owner of $100,000 or more in principal amount of 2006 Bonds, by wire transfer on the due date upon written direction of such owner provided at least fifteen (15) days prior to the maturity date.

Interest on 2006 Bonds shall be payable from the interest payment date to which interest has been paid next preceding the authentication date thereof unless such 2006 Bonds are authenticated after the fifteenth (15th) day of the month immediately preceding the month in which interest is payable and on or before such interest payment date in which case they shall bear interest from such interest payment date, or unless authenticated on or before the fifteenth (15th) day of the month of the first interest payment date, in which case they shall bear interest from the original date, until the principal shall be fully paid.

Each 2006 Bond shall be transferable or exchangeable only upon the books of the County kept for that purpose by the Registrar, by the registered owner thereof in person, or by his attorney duly authorized in writing, upon surrender of such 2006 Bond together with a written instrument of transfer or exchange satisfactory to the Registrar duly executed by the registered owner or his attorney duly authorized in writing, and thereupon a new fully registered 2006 Bond or Bonds in the same aggregate principal amount, and of the same maturity, shall be executed and delivered in the name of the transferee or transferees or the registered owner, as the case may be, in exchange therefor. The costs of such transfer or exchange shall be borne by the County, except for any tax or governmental charge required to be paid in connection therewith, which shall be payable by the person requesting such transfer or exchange. The County, the Registrar and the Paying Agent may treat and consider the persons in whose names such 2006 Bonds are registered as the absolute owners thereof for all purposes including for the purpose of receiving payment of, or on account of, the principal thereof and interest due thereon.

In the event any 2006 Bond is mutilated, lost, stolen or destroyed, the County may execute and the Registrar may authenticate a new bond of like date, maturity and denomination as that mutilated, lost, stolen or destroyed, which new bond shall be marked in a manner to distinguish it from the bond for which it was issued, provided that, in the case of any mutilated bond, such mutilated bond shall first be surrendered to the Registrar, and in the case of any lost, stolen or destroyed bond there shall be first furnished to the Registrar evidence of such loss, theft or destruction satisfactory to the County and the Registrar, together with indemnity satisfactory to them. In the event any such bond shall have matured, instead of issuing a duplicate bond, the County and the Registrar may, upon receiving indemnity satisfactory to them, pay the same without surrender thereof. The County and the Registrar may charge the owner of such 2006 Bond with their reasonable fees and expenses in this connection. Any bond issued pursuant to this paragraph shall be deemed an original, substitute contractual obligation of the County, whether or not the lost, stolen or destroyed 2006 Bond shall be found at any time, and shall be entitled to all the benefits of this Ordinance, equally and proportionately with any and all other 2006 Bonds issued hereunder.

SECTION 3. Terms of Redemption. The Board and the Auditor, upon consultation with the County’s financial advisor, may designate maturities of the 2006 Bonds (or a portion thereof in integral multiples of $1,000 principal amount each) that shall be subject to optional redemption and/or maturity sinking fund redemption, and the corresponding redemption dates, amounts and prices (including premium, if any); provided however any premium payable upon the optional redemption of the Bonds shall not exceed five percent (5%) of the principal amount of the Bonds being redeemed. Except as otherwise set forth in this Ordinance, the Board and the Auditor, upon consultation with the County’s financial advisor, is hereby authorized and directed to determine the terms governing any such redemption.

Notice of redemption shall be mailed by first-class mail or by registered or certified mail to the address of each registered owner of a 2006 Bond to be redeemed as shown on the Registration Record not more than thirty (30) days and not less than seven (7) days prior to the date fixed for redemption except to the extent such redemption notice is waived by owners of 2006 Bonds redeemed, provided, however, that failure to give such notice by mailing, or any defect therein, with respect to any 2006 Bond shall not affect the validity of any proceedings for the redemption of any other 2006 Bonds. The notice shall specify the date and place of redemption, the redemption price of the 2006 Bonds called for redemption. The place of redemption may be determined by the County. Interest on the 2006 Bonds so called for redemption shall cease on the redemption date fixed in such notice if sufficient funds are available at the place of redemption to pay the redemption price on the date so named, and thereafter, such 2006 Bonds shall no longer be protected by this ordinance and shall not be deemed to be outstanding hereunder, and the holders thereof shall have the right only to receive the redemption price.

All 2006 Bonds which have been redeemed shall be canceled and shall not be reissued; provided, however, that one or more new registered bonds shall be issued for the unredeemed portion of any 2006 Bond without charge to the holder thereof.

No later than the date fixed for redemption, funds shall be deposited with the Paying Agent or another paying agent to pay, and such agent is hereby authorized and directed to apply such funds to the payment of, the 2006 Bonds or portions thereof called for redemption, including accrued interest thereon to the redemption date. No payment shall be made upon any 2006 Bond or portion thereof called for redemption until such bond shall have been delivered for payment or cancellation or the Registrar shall have received the items required by this resolution with respect to any mutilated, lost, stolen or destroyed bond.

SECTION 4. Appointment of Registrar and Paying Agent. The Auditor is hereby authorized to serve as, or to appoint a qualified financial institution to serve as, registrar and paying agent for the 2006 Bonds (the “Registrar” or “Paying Agent”). The Registrar is hereby charged with the responsibility of authenticating the 2006 Bonds, and shall keep and maintain at its principal corporate trust office books for the registration and transfer of the 2006 Bonds. The Board is hereby authorized to enter into such agreements or understandings with such institution as will enable the institution to perform the services required of the Registrar and Paying Agent. The Auditor is authorized to pay such fees as the institution may charge for the services it provides as Registrar and Paying Agent.

The Registrar and Paying Agent may at any time resign as Registrar and Paying Agent by giving thirty (30) days written notice to the Auditor and to each registered owner of the 2006 Bonds then outstanding, and such resignation will take effect at the end of such thirty (30) days or upon the earlier appointment of a successor Registrar and Paying Agent by the County. Such notice to the Auditor may be served personally or be sent by first-class or registered mail. The Registrar and Paying Agent may be removed at any time as Registrar and Paying Agent by the County, in which event the County may appoint a successor Registrar and Paying Agent. The County shall notify each registered owner of the 2006 Bonds then outstanding of the removal of the Registrar and Paying Agent. Notices to registered owners of the 2006 Bonds shall be deemed to be given when mailed by first-class mail to the addresses of such registered owners as they appear on the bond register. Any predecessor Registrar and Paying Agent shall deliver all the 2006 Bonds, cash and investments in its possession and the bond register to the successor Registrar and Paying Agent. At all times, the same entity shall serve as Registrar and as Paying Agent.

SECTION 5. Form of Bonds. (a) The form and tenor of the 2006 Bonds, shall be substantially as follows, all blanks to be filled in properly and all necessary additions and deletions to be made prior to delivery thereof:

R-

UNITED STATES OF AMERICA

STATE OF INDIANA COUNTY OF WHITE

THE BOARD OF COMMISSIONERS OF

THE COUNTY OF WHITE, INDIANA

WHITE COUNTY, INDIANA, [TAXABLE] GENERAL OBLIGATION BOND, SERIES 2006

Interest

Rate

Maturity

Date

Original

Date

Authentication

Date

CUSIP

REGISTERED OWNER:

PRINCIPAL SUM: DOLLARS ($______)

The County of White, Indiana (the “County”), acting through its Board of Commissioners, for value received, hereby promises to pay to the Registered Owner set forth above, the Principal Sum set forth above on the Maturity Date set forth above, and to pay interest thereon until the Principal Sum shall be fully paid, at the Interest Rate per annum specified above from the interest payment date to which interest has been paid next preceding the Authentication Date of this bond unless this bond is authenticated after the fifteenth day of the month immediately preceding the month in which interest is payable and on or before such interest payment date in which case it shall bear interest from such interest payment date, or unless this bond is authenticated on or before ______________, in which case it shall bear interest from the Original Date, which interest is payable semi-annually on each April 1 and October 1 of each year, beginning on . Interest shall be calculated on the basis of a 360-day year comprised of twelve 30-day months.

The principal of this bond is payable at __________________ (the “Registrar” or “Paying Agent”), in __________, Indiana. All payments of interest on this bond shall be paid by check mailed one business day prior to the interest payment date to the registered owner hereof as of the fifteenth day of the month immediately preceding the month in which interest is payable at the address as it appears on the registration books kept by the Registrar or at such other address as is provided to the Paying Agent in writing by the Registered Owner. Each registered owner of $100,000 or more in principal amount of bonds shall be entitled to receive interest payments by wire transfer by providing written wire instructions to the Paying Agent before the record date for any payment. All payments of principal of and premium, if any, on this bond shall be made upon surrender thereof at the principal corporate trust office of the Paying Agent in any coin or currency of the United States of America which on the dates of such payment shall be legal tender for the payment of public and private debts, or in the case of a Registered Owner of $100,000 or more in principal amount of bonds, by wire transfer on the due date upon written direction of such owner provided at least fifteen (15) days prior to the maturity date.

This bond is one of an authorized issue of negotiable general obligation bonds of the County, of like original date, tenor and effect, except as to denomination, numbering, interest rates, and dates of maturity, in the total amount of _______________________Dollars ($______), numbered consecutively from 1 upward, issued for the purpose of providing funds to refinance certain obligations of the County under a Lease, between the White County Hospital Association and the County and for the payment of the costs of the issuance of bonds therefor, as authorized by Ordinance No. ______adopted by the County Council of the County on the ____day of ________, 2006, entitled “ORDINANCE OF THE WHITE COUNTY COUNCIL AUTHORIZING ISSUANCE OF BONDS FOR THE PURPOSE OF REFINANCING THE OBLIGATIONS OF THE COUNTY UNDER A LEASE BETWEEN THE WHITE COUNTY HOSPITAL ASSOCIATION AND THE COUNTY, AND PAYING INCIDENTAL EXPENSES IN CONNECTION THEREWITH AND ON ACCOUNT OF THE ISSUANCE OF THE BONDS” (the “Ordinance”), and in accordance with Indiana Code § 36-2-6-18 and § 5-1-5 and other applicable provisions of the Indiana Code, as amended (collectively, the “Act”). The owner of this bond, by the acceptance hereof, agrees to all the terms and provisions contained in the Ordinance and the Act.

PURSUANT TO THE PROVISIONS OF THE ACT AND THE ORDINANCE, THE PRINCIPAL OF THIS BOND AND ALL OTHER BONDS OF SAID ISSUE AND THE INTEREST DUE THEREON ARE PAYABLE AS A GENERAL OBLIGATION OF THE COUNTY, FROM AN UNLIMITED AD VALOREM PROPERTY TAX TO BE LEVIED ON ALL TAXABLE PROPERTY WITHIN THE COUNTY.

[INSERT REDEMPTION TERMS]

Notice of such redemption shall be mailed by first-class mail or by registered or certified mail not more than thirty (30) days and not less than seven (7) days prior to the date fixed for redemption to the address of the registered owner of each bond to be redeemed as shown on the registration record of the County except to the extent such redemption notice is waived by owners of the bond or bonds redeemed, provided, however, that failure to give such notice by mailing, or any defect therein, with respect to any bond shall not affect the validity of any proceedings for the redemption of any other bonds. The notice shall specify the date and place of redemption, the redemption price and the CUSIP numbers, if any, of the bonds called for redemption. The place of redemption may be determined by the County. Interest on the bonds so called for redemption shall cease on the redemption date fixed in such notice if sufficient funds are available at the place of redemption to pay the redemption price on the date so named, and thereafter, such bonds shall no longer be protected by the Ordinance and shall not be deemed to be outstanding thereunder.

This bond is subject to defeasance prior to payment as provided in the Ordinance.

If this bond shall not be presented for payment on the date fixed therefor, the County may deposit in trust with the Paying Agent or another paying agent, an amount sufficient to pay such bond, and thereafter the Registered Owner shall look only to the funds so deposited in trust for payment and the County shall have no further obligation or liability in respect thereto.

This bond is transferable or exchangeable only upon the books of the County kept for that purpose at the office of the Registrar by the Registered Owner in person, or by his attorney duly authorized in writing, upon surrender of this bond together with a written instrument of transfer or exchange satisfactory to the Registrar duly executed by the Registered Owner or his attorney duly authorized in writing, and thereupon a new fully registered bond or bonds in the same aggregate principal amount, and of the same maturity, shall be executed and delivered in the name of the transferee or transferees or the Registered Owner, as the case may be, in exchange therefore. The County, any registrar and any paying agent for this bond may treat and consider the person in whose name this bond is registered as the absolute owner hereof for all purposes including for the purpose of receiving payment of, or on account of, the principal hereof and interest due hereon.

The bonds maturing in any one year are issuable only in fully registered form in the denomination of $1,000 or any integral multiple thereof.

It is hereby certified and recited that all acts, conditions and things required to be done precedent to and in the execution, issuance and delivery of this bond have been done and performed in regular and due form as provided by law.

This bond shall not be valid or become obligatory for any purpose until the certificate of authentication hereon shall have been executed by an authorized representative of the Registrar.

IN WITNESS WHEREOF, the Board of Commissioners of the County of White, Indiana, has caused this bond to be executed in its corporate name by the manual or facsimile signatures of its duly elected, qualified and acting Commissioners, its corporate seal to be hereunto affixed, imprinted or impressed by any means and attested manually or by facsimile by the Auditor of White County.

THE BOARD OF COMMISSIONERS OF THE COUNTY OF WHITE, INDIANA

By: ____________

Commissioner

By:

Commissioner

By:

Commissioner

(SEAL)

ATTEST:

Auditor

It is hereby certified that this bond is one of the bonds described in the within-mentioned Ordinance duly authenticated by the Registrar.

_____________________________, as Registrar

By:

Authorized Representative

The following abbreviations, when used in the inscription on the face of this bond, shall be construed as though they were written out in full according to applicable laws or regulations:

TEN. COM.

as tenants in common

TEN. ENT.

as tenants by the entireties

JT. TEN.

as joint tenants with right of survivorship and

not as tenants in common

UNIF. TRANS.

MIN. ACT

__ Custodian _______________

(Cust.) (Minor)

under Uniform Transfers to Minors Act of

(State)

Additional abbreviations may also be used, although not contained in the above list.

FOR VALUE RECEIVED the undersigned hereby sells, assigns and transfers unto ________________________________________(Please Print or Typewrite Name and Address) $__________________principal amount (must be a multiple of $5,000) of the within bond and all rights thereunder, and hereby irrevocably constitutes and appoints _________________________, attorney to transfer the within bond on the books kept for the registration thereof with full power of substitution in the premises.

NOTICE: The signature to this assignment must correspond with the name as it appears on the face of the within bond in every particular, without alteration or enlargement or any change whatsoever.

Signature Guaranteed:

NOTICE: Signature(s) must be guaranteed by an

eligible guarantor institution participating

in a Securities Transfer Association recognized

signature guarantee program.

(b) The 2006 Bonds may, in compliance with all applicable laws, initially be issued and held in book-entry form on the books of the central depository system, The Depository Trust Company, its successors, or any successor central depository system appointed by the County from time to time (the “Clearing Agency”), without physical distribution of bonds to the purchasers. The following provisions of this section apply in such event.

One definitive 2006 Bond of each maturity shall be delivered to the Clearing Agency (or its agent) and held in its custody. The County and the Registrar and Paying Agent may, in connection therewith, do or perform or cause to be done or performed any acts or things not adverse to the rights of the holders of the 2006 Bonds as are necessary or appropriate to accomplish or recognize such book-entry form 2006 Bonds.

During any time that the 2006 Bonds remain and are held in book-entry form on the books of a Clearing Agency, (1) any such 2006 Bond may be registered upon the books kept by the Registrar in the name of such Clearing Agency, or any nominee thereof, including Cede & Co., as nominee of The Depository Trust Company; (2) the Clearing Agency in whose name such 2006 Bond is so registered shall be, and the County and the Registrar and Paying Agent may deem and treat such Clearing Agency as, the absolute owner and holder of such 2006 Bond for all purposes of this Ordinance, including, without limitation, the receiving of payment of the principal of and interest on such 2006 Bond, the receiving of notice and giving of consent; (3) neither the County nor the Registrar or Paying Agent shall have any responsibility or obligation hereunder to any direct or indirect participant, within the meaning of Section 17A of the Securities Exchange Act of 1934, as amended, of such Clearing Agency, or any person on behalf of which, or otherwise in respect of which, any such participant holds any interest in any 2006 Bond, including, without limitation, any responsibility or obligation hereunder to maintain accurate records of any interest in any 2006 Bond or any responsibility or obligation hereunder with respect to the receiving of payment of principal of or interest or premium, if any, on any 2006 Bond, the receiving of notice or the giving of consent; and (4) the Clearing Agency is not required to present any 2006 Bond called for partial redemption prior to receiving payment so long as the Registrar and Paying Agent and the Clearing Agency have agreed to the method for noting such partial redemption.

If either the County receives notice from the Clearing Agency which is currently the registered owner of the 2006 Bonds to the effect that such Clearing Agency is unable or unwilling to discharge its responsibility as a Clearing Agency for the 2006 Bonds, or the County elects to discontinue its use of such Clearing Agency as a Clearing Agency for the 2006 Bonds, then the County and Registrar and Paying Agent each shall do or perform or cause to be done or performed all acts or things, not adverse to the rights of the holders of the 2006 Bonds, as are necessary or appropriate to discontinue use of such Clearing Agency as a Clearing Agency for the 2006 Bonds and to transfer the ownership of each of the 2006 Bonds to such person or persons, including any other Clearing Agency, as the holders of the 2006 Bonds may direct in accordance with this Ordinance. Any expenses of such discontinuance and transfer, including expenses of printing new certificates to evidence the 2006 Bonds, shall be paid by the County.

During any time that the 2006 Bonds are held in book-entry form on the books of a Clearing Agency, the Registrar shall be entitled to request and rely upon a certificate or other written representation from the Clearing Agency or any participant or indirect participant with respect to the identity of any beneficial owner of 2006 Bonds as of a record date selected by the Registrar. For purposes of determining whether the consent, advice, direction or demand of a registered owner of a 2006 Bond has been obtained, the Registrar shall be entitled to treat the beneficial owners of the 2006 Bonds as the bondholders and any consent, request, direction, approval, objection or other instrument of such beneficial owner may be obtained in the fashion described in this Ordinance.

During any time that the 2006 Bonds are held in book-entry form on the books of a Clearing Agency, the Board, the Auditor and/or the Registrar are authorized to execute and deliver a Letter of Representations agreement with the Clearing Agency, or a Blanket Issuer Letter of Representations, and the provisions of any such Letter of Representations or any successor agreement shall control on the matters set forth therein. The Registrar, by accepting the duties of Registrar under this Ordinance, agrees that it will (i) undertake the duties of agent required thereby and that those duties to be undertaken by either the agent or the issuer shall be the responsibility of the Registrar, and (ii) comply with all requirements of the Clearing Agency, including without limitation same day funds settlement payment procedures. Further, during any time that the 2006 Bonds are held in book-entry form, the provisions of Section 5 of this Ordinance shall control over conflicting provisions in any other section of this Ordinance.

SECTION 6. Sale of Bonds. (a) The Auditor is hereby authorized and directed to have the 2006 Bonds prepared, the Board and the Auditor are hereby authorized and directed to execute or to cause the execution of the 2006 Bonds in the form and manner herein provided. The Auditor is hereby authorized and directed to delivery the 2006 Bonds to the purchaser or purchasers thereof upon compliance with the requirements established hereunder and under the Act for the sale thereof, and to collect the full amount which the purchaser or respective purchasers have agreed to pay therefor. The 2006 Bonds, when fully paid for and delivered to the purchaser or purchasers, shall be the binding general obligations of the County, payable from an unlimited ad valorem property tax to be levied on all taxable property within the County, and the proceeds derived from the sale of the 2006 Bonds shall be and are hereby set aside for the application to the costs of the Refunding. The authorized officers of the County are hereby authorized and directed to draw all proper and necessary warrants and to do whatever other acts and things that may be necessary or appropriate to carry out the provisions of this Ordinance.

(b) The Council hereby authorizes the sale of the 2006 Bonds to Regions Bank or such other purchaser as that Board and the Auditor determine to be in the best interest of the County, such determination to be conclusively evidenced by the Board’s and the Auditor’s execution and delivery of the Bonds. The Council hereby approves, and authorizes and directs the Board and the Auditor, for and on behalf of the County, to execute and deliver such documents and take such actions as the Board and the Auditor deem necessary or appropriate to complete the sale and issuance of the Bonds.

SECTION 7. Use of Bond Proceeds. Any accrued interest and premium received at the time of delivery of the 2006 Bonds will be applied to payments on the 2006 Bonds on the earliest interest payment dates. The remaining proceeds received from the sale of the 2006 Bonds shall be deposited in the “White County 2006 General Obligation Refunding Bond Fund” (the “Refunding Fund”). The Refunding Fund shall consist of the Refunded 1994 Bonds Account and the Costs of Issuance Account.

All amounts deposited into the Refunded 1994 Bonds Account, as prepayment of the County’s rental obligation under the 1994 Lease, shall be deposited as directed by the Association into an escrow account and used to pay the principal of and interest and premium on the 1994 Refunded Bonds.

All amounts in the Costs of Issuance Account shall be expended only for the purpose of paying the costs of issuance of the 2006 Bonds and any other fees and charges associated with the issuance of the 2006 Bonds. Any balance remaining unexpended in the Costs of Issue Account after payment of all such costs, fees and charges shall, not later than thirteen (13) months after the date of issuance of the 2006 Bonds, be used to pay principal of or interest on the 2006 Bonds.

SECTION 8. Defeasance. If, when the 2006 Bonds or any portion thereof shall have become due and payable in accordance with their terms or shall have been duly called for redemption or irrevocable instructions to call the 2006 Bonds or any portion thereof for redemption have been given, and the whole amount of the principal and the interest so due and payable upon such bonds or any portion thereof then outstanding shall be paid, or (i) cash, or (ii) direct non-callable obligations of (including obligations issued or held in book entry form on the books of) the Department of the Treasury of the United States of America, and securities fully and unconditionally guaranteed as to the timely payment of principal and interest by the United States of America, the principal of and the interest on which when due without reinvestment will provide sufficient money, or (iii) any combination of the foregoing, shall be held irrevocably in trust for such purpose, and provision shall also be made for paying all fees and expenses for the payment, then and in that case the 2006 Bonds or such designated portion thereof shall no longer be deemed outstanding or secured by this Ordinance.

SECTION 9. Tax Covenants. This Section 9 shall only apply if at the time of the sale of the 2006 Bonds, bond counsel opines that interest on the 2006 Bonds is excluded from gross income for federal income tax purposes. As an inducement to purchasers of the 2006 Bonds, the County represents, covenants and agrees that:

  1. The County will not take any action or fail to take any action with respect to the 2006 Bonds that would result in the loss of the exclusion from gross income for federal income tax purposes of interest on the 2006 Bonds pursuant to Section 103 of the Internal Revenue Code of 1986 as in effect on the date of issuance of the 2006 Bonds (the “Code”), including, without limitation, the taking of such action as is necessary to rebate or cause to be rebated arbitrage profits on 2006 Bond proceeds or other monies treated as 2006 Bond proceeds to the federal government as provided in Section 148 of the Code, and will set aside such monies, which may be paid from investment income on funds and accounts notwithstanding anything else to the contrary herein, in trust for such purposes.

  1. The County will file an information report Form 8038-G with the Internal Revenue Service as required by Section 149 of the Code.

  2. The County will not make any investment or do any other act or thing during the period that any 2006 Bond is outstanding hereunder which would cause any 2006 Bond to be an “arbitrage bond” within the meaning of Section 148 of the Code and the regulations applicable thereto as in effect on the date of delivery of the 2006 Bonds.

Notwithstanding any other provisions of this Ordinance, the foregoing covenants and authorizations (the “Tax Sections”) which are designed to preserve the exclusion of interest on the 2006 Bonds from gross income under federal income tax law (the “Tax Exemption”) need not be complied with to the extent the County receives an opinion of nationally recognized bond counsel that compliance with such Tax Section is unnecessary to preserve the Tax Exemption.

SECTION 10. Amendments. Subject to the terms and provisions contained in this section, and not otherwise, the owners of not less than sixty-six and two-thirds percent (66-2/3%) in aggregate principal amount of the 2006 Bonds then outstanding shall have the right, from time to time, to consent to and approve the adoption by the County of such ordinance or ordinances supplemental hereto as shall be deemed necessary or desirable by the County for the purpose of modifying, altering, amending, adding to or rescinding in any particular any of the terms or provisions contained in this Ordinance, or in any supplemental ordinance; provided, however, that nothing herein contained shall permit or be construed as permitting:

  1. An extension of the maturity of the principal of or interest on any 2006 Bond, without the consent of the holder of each 2006 Bond so affected; or

  2. A reduction in the principal amount of any 2006 Bond or the rate of interest thereon, or a change in the monetary medium in which such amounts are payable, without the consent of the holder of each 2006 Bond so affected; or

  3. A preference or priority of any 2006 Bond over any other 2006 Bond, without the consent of the holders of all 2006 Bonds then outstanding; or

  4. A reduction in the aggregate principal amount of the 2006 Bonds required for consent to such supplemental ordinance, without the consent of the holders of all 2006 Bonds then outstanding.

If the County shall desire to obtain any such consent, it shall cause the Registrar to mail a notice, postage prepaid, to the addresses appearing on the registration books held by the Registrar. Such notice shall briefly set forth the nature of the proposed supplemental ordinance and shall state that a copy thereof is on file at the office of the Registrar for inspection by all owners of the 2006 Bonds. The Registrar shall not, however, be subject to any liability to any owners of the 2006 Bonds by reason of its failure to mail such notice, and any such failure shall not affect the validity of such supplemental ordinance when consented to and approved as herein provided.

Whenever at any time within one year after the date of the mailing of such notice, the County shall receive any instrument or instruments purporting to be executed by the owners of the 2006 Bonds of not less than sixty-six and two-thirds per cent (66-2/3%) in aggregate principal amount of the 2006 Bonds then outstanding, which instrument or instruments shall refer to the proposed supplemental ordinance described in such notice, and shall specifically consent to and approve the adoption thereof in substantially the form of the copy thereof referred to in such notice as on file with the Registrar, thereupon, but not otherwise, the County may adopt such supplemental ordinance in substantially such form, without liability or responsibility to any owners of the 2006 Bonds, whether or not such owners shall have consented thereto.

No owner of any 2006 Bond shall have any right to object to the adoption of such supplemental ordinance or to object to any of the terms and provisions contained therein or the operation thereof, or in any manner to question the propriety of the adoption thereof, or to enjoin or restrain the County or its officers from adopting the same, or from taking any action pursuant to the provisions thereof. Upon the adoption of any supplemental ordinance pursuant to the provisions of this section, this Ordinance shall be, and shall be deemed, modified and amended in accordance therewith, and the respective rights, duties and obligations under this Ordinance of the County and all owners of 2006 Bonds then outstanding, shall thereafter be determined exercised and enforced in accordance with this Ordinance, subject in all respects to such modifications and amendments.

Notwithstanding anything contained in the foregoing provisions of this Ordinance, the rights and obligations of the County and of the owners of the 2006 Bonds, and the terms and provisions of the 2006 Bonds and this Ordinance, or any supplemental ordinance, may be modified or altered in any respect with the consent of the County and the consent of the owners of all the 2006 Bonds then outstanding.

Without notice to or consent of the owners of the 2006 Bonds, the County may, from time to time and at any time, adopt such ordinances supplemental hereto as shall not be inconsistent with the terms and provisions hereof (which supplemental ordinances shall thereafter form a part hereof),

  1. To cure any ambiguity or formal defect or omission in this Ordinance or in any supplemental ordinance; or

  2. To grant to or confer upon the owners of the 2006 Bonds any additional rights, remedies, powers, authority or security that may lawfully be granted to or conferred upon the owners of the 2006 Bonds; or

  3. To procure a rating on the 2006 Bonds from a nationally recognized securities rating agency designated in such supplemental ordinance, if such supplemental ordinance will not adversely affect the owners of the 2006 Bonds; or

  4. To obtain or maintain bond insurance with respect to the 2006 Bonds; or

  5. To provide for the refunding or advance refunding of the 2006 Bonds; or

  6. To make any other change which, in the determination of the Council in its sole discretion, is not to the prejudice of the owners of the 2006 Bonds.

SECTION 11. No Conflict. All ordinances, resolutions, and orders or parts thereof in conflict with the provisions of this Ordinance are to the extent of such conflict hereby repealed. After the issuance of the 2006 Bonds and so long as any of the 2006 Bonds or interest thereon remains unpaid, except as expressly provided herein, this Ordinance shall not be repealed or amended in any respect which will adversely affect the rights of the holders of the 2006 Bonds, nor shall the County adopt any law, ordinance or resolution which in any way adversely affects the rights of such holders.

SECTION 12. Severability. If any section, paragraph or provision of this Ordinance shall be held to be invalid or unenforceable for any reason, the invalidity or unenforceability of such section, paragraph or provision shall not affect any of the remaining provisions of this Ordinance.

SECTION 13. Holidays, Etc. If the date of making any payment or the last date for performance of any act or the exercising of any right, as provided in this Ordinance, shall be a legal holiday or a day on which banking institutions in the county or the city in which the Registrar or Paying Agent is located are typically closed, such payment may be made or act performed or right exercised on the next succeeding day not a legal holiday or a day on which such banking institutions are typically closed, with the same force and effect as if done on the nominal date provided in this Ordinance, and no interest shall accrue for the period after such nominal date.

SECTION 14. Effectiveness. This Ordinance shall be in full force and effect from and after its passage.

Adopted this 16th day of October, 2006.

  • Commissioner Burton made a motion to approve Resolution No. 06-10-16-02 approving the terms and conditions of an agreement with the Board of Trustees of White County Memorial Hospital, seconded by Commissioner Ferguson. Vote: Unanimous

RESOLUTION NO. 06-10-16-02

RESOLUTION OF THE BOARD OF COMMISSIONERS OF WHITE COUNTY,
INDIANA APPROVING THE TERMS AND CONDITIONS OF AN AGREEMENT WITH THE BOARD OF TRUSTEES OF WHITE COUNTY MEMORIAL HOSPITAL

WHEREAS, the White County Hospital Association (the “Association”) intends to issue bonds (the “Bonds”) to finance all or a portion of: (i) the acquisition, construction and equipping of a new county hospital facility (the “New Hospital Facility”) and all or a portion of the costs of credit enhancement, other costs of issuance and incidental expenses incurred in connection with the issuance of the 2006 Bonds (collectively, the “Project”); and

WHEREAS, the Bonds are payable primarily from lease rentals payable by White County, Indiana (the “County”) and The Board of Trustees of White County Memorial Hospital (the “Hospital”) to the Association under a Lease, between the Association, as lessor, and the County and the Hospital, as lessees dated as of September 5, 2006, as amended (the “Lease”); and

WHEREAS, the Hospital has provided the Board with financial information regarding the Hospital, and based on such information and upon the advice of the County’s financial advisor, the Board reasonably expects that the lease rentals under the Lease will be paid by the Hospital from net revenues of the Hospital (the “Net Revenues”); and

WHEREAS, as additional security to the extent the Net Revenues are insufficient to pay such lease rentals under the Lease, such lease rentals shall be payable from ad valorem property taxes to be levied on all taxable property in the County in an amount not to exceed $750,000 per year (the “County Pledge”); and

WHEREAS, the County Pledge automatically terminates on a date which is five (5) years from the date of issuance of the Bonds without further action by this Board of Commissioners (the “Board”) in the form of a resolution extending such County Pledge for a term or terms not to exceed the term of the Lease; and

WHEREAS, on the date hereof, the Board has been presented with a Tax Support Agreement, between the County and the Hospital (the “Tax Support Agreement”), pursuant to which the Hospital would provide the County with certain rights to control the operation or disposal of the existing county hospital, which will be replaced by the New Hospital Facility and certain other rights, in consideration of the County’s providing the County Pledge.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF WHITE COUNTY, INDIANA, AS FOLLOWS:

  1. The Board hereby finds that the execution and delivery of the Tax Support Agreement are in the best interests of the County and its citizens. The Board is authorized and directed to execute the Tax Support Agreement, in the name and on behalf of the County, and the Auditor of the County is hereby authorized and directed to attest the execution of such agreements, with such changes as deemed appropriate by the Board and Auditor as evidenced by their execution and attestation thereof.

  2. Any member of the Board, the Auditor, and legal counsel to the County are hereby authorized, empowered and directed, on behalf of the County to take any other action as such individual deems necessary or desirable to effectuate the foregoing resolutions, and any actions heretofore made or taken are hereby ratified and approved.

  3. This Resolution shall be in full force and effect immediately upon adoption.

DULY PASSED on this 16th day of October, 2006, by the Board of Commissioners of White County, Indiana.

LAKEVIEW HOME ADMITANCE

  • Commissioner Ferguson made a motion to approve the admittance application for Anjanette Marie Hoover into Lakeview Home, seconded by Commissioner Burton. Vote: Unanimous

There being no further business to come before the board, their meeting was adjourned.

 

 

 

 

___________________________ ___________________________ ___________________________

John C. Heimlich, President Steve Burton, Vice President O.D. “Bud” Ferguson, Member

 

 

 

 

ATTEST: ___________________________

Mary Jo Pool, Auditor