05-13-2020 Council Packet - Laserfiche WebLink

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35 assisted living communities; and requirements for training employees in the proper handling and management of hazardous materials and wastes. Nursing and assisted living communities may be subject to liability for failure to investigate and remedy any hazardous substances that have come to be located on the property, including any such substances that may have migrated off of the property. Typical nursing and assisted living community operations include, in various combinations, the handling, use, storage, transportation, disposal and discharge of biological waste, including hazardous, infectious, toxic, radioactive, flammable and other hazardous materials, wastes, pollutants or contaminants. For this reason, nursing and assisted living community operations are particularly susceptible to the practical, financial and legal risks associated with compliance with such laws and regulations. Such risks may result in damage to individuals, property or the environment; may interrupt operations or increase their cost, or both; may result in legal liability, damages, injunctions or fines; or may trigger investigations, administrative proceedings, penalties or other government agency actions. There can be no assurance that the Borrower encounter such risks in the future, and such risks may result in material adverse consequences to the operations or financial condition of the Borrower. Other Possible Risk Factors The occurrence of any of the following events, or other unanticipated events, could adversely affect the operations of the Borrower: 1.Inability to control increases in operating costs, including salaries, wages and fringe benefits, supplies and other expenses, given an inability to obtain corresponding increases in revenues from residents whose incomes will largely be fixed; 2.Unionization, employee strikes and other adverse labor actions which could result in a substantial increase in expenditures without a corresponding increase in revenues; 3.Adoption of other federal, state or local legislation or regulations having an adverse effect on the future operating or financial performance of the Borrower; 4.The cost and availability of energy; 5.Inflation or other adverse economic conditions; 6.Changes in tax, pension, social security or other laws and regulations affecting the provisions of health care and other services to the elderly; or 7.The occurrence of natural disasters, including, but not limited to, hurricanes, floods or earthquakes, or failures of storm water detention devices during such naturally occurring events, which may damage the Project, interrupt utility service to the Project, or otherwise impair the operation and generation of revenues from said Project. Summary The foregoing is intended only as a summary of certain risk factors attendant to an investment in the Series 2020 Bonds. In order for potential investors to identify risk factors and make an informed decision, potential investors should be thoroughly familiar with this entire Official Statement and the appendices hereto.