HomeMy WebLinkAbout1989-344-07.11.1989 Brown introduced and caused to be read Resolution No.
1989- 344 entitled,
RESOLUTION NO. 1989-344
RESOLUTION determining to proceed with the
issuance of not to exceed $27, 000, 000 in
aggregate principal amount of Wheaton
Franciscan Services, Inc. System Revenue
Bonds, Series 1989 (Covenant Medical Center,
Incorporated) of the City of Waterloo, Iowa,
and moved its adoption; seconded by Councilmember
Dell . After due consideration of said resolution
by the Council, the Mayor put the question on the motion and,
upon the roll being called, the following named Councilmembers
voted:
Aye: Brown, Dell, Buck, Fox and Angel
Nay: NnnP
Whereupon, the Mayor declared said resolution duly adopted
and signed his approval thereto.
* * * * * * * *
On motion and vote the meeting adjourned.
Bernard L. Mci Cfiley, Mayor
Attest:
Michelle Temeyer, Deputy Clerk/Auditor
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RESOLUTION NO. 1989- 344
RESOLUTION DETERMINING TO PROCEED WITH THE
ISSUANCE NOT TO EXCEED $27, 000, 000
IN AGGREGATE PRINCIPAL AMOUNT OF
WHEATON FRANCISCAN SERVICES, INC.
SYSTEM REVENUE BONDS, SERIES 1989
(COVENANT MEDICAL CENTER, INCORPORATED)
OF THE CITY OF WATERLOO, IOWA
* * * * * * * *
WHEREAS, the City of Waterloo, in the County of Black Hawk,
State of Iowa (the "City") proposes to issue its Wheaton
Franciscan Services, Inc. System Revenue Bonds, Series 1989
(Covenant Medical Center, Incorporated) in an aggregate principal
amount not to exceed $27, 000, 000 (the "Series 1989 Bonds") for
the purpose of defraying the cost of buildings and improvements
(including equipment) for the expansion, remodeling and
renovation of the voluntary non-profit hospital facilities of
Covenant Medical Center, Incorporated (the "Corporation") (the
"Project") pursuant to the provisions of Chapter 419 of the Code
of Iowa, 1989, as amended (the "Act") .
WHEREAS, the Corporation has requested that the City issue
its Series 1989 Bonds and loan the proceeds of the Series 1989
Bonds to the Corporation and Wheaton Franciscan Services, Inc. ,
an Illinois not-for-profit corporation ("WFSI") which controls
the Corporation, to be used to finance the Project.
WHEREAS, pursuant to published notice of intention to issue
the Series 1989 Bonds this City Council has conducted a public
hearing, as required by Section 419.9 of the Act and Section
147 (f) of the Internal Revenue Code of 1986, and this City
Council deems it necessary and advisable to proceed with the
issuance of the Series 1989 Bonds and the loan of the proceeds of
the Series 1989 Bonds to the Corporation and WFSI;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF WATERLOO, IOWA, AS FOLLOWS:
Section 1. That at the public hearing conducted by
this City Council pursuant to published notice all local resi-
dents who appeared were given an opportunity to express their
views for or against the proposal to issue the Series 1989 Bonds.
Section 2 . That this City Council deems it necessary
and advisable, and hereby determines, to proceed with the issu-
ance of the Series 1989 Bonds and the loan of the proceeds of the
Series 1989 Bonds to the Corporation and WFSI, all upon terms and
conditions mutually satisfactory to the City, the Corporation and
WFSI.
Section 3. That this Resolution shall become effective
immediately upon its passage and approval.
Passed and approved July 11 , 1989.
CITY OF WATERLOO, IOWA
AA, t
'ernard L. cKinle
Y. Ma Y�r
Atte t:
-) ' ,
Michel a Temeyer, Deputy C - rk/Auditor
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,
STATE OF IOWA )
ss
COUNTY OF BLACK HAWK)
I, Michelle Temeyer, being first duly sworn, do hereby depose
and certify that I am the duly appointed, qualified and acting
Deputy
City Clerk of the City of Waterloo, in Black Hawk County, Iowa,
and that as such I have in my possession or have access to the
complete official records of said City and of its Council and
officers; that I have carefully compared the transcript hereto
attached with said official records and that said transcript
hereto attached is a true, correct and complete copy of all the
official records in relation to the adoption of Resolution No.
1989- 344 entitled:
RESOLUTION determining to proceed with the
issuance of not to exceed $27,000,000 in
aggregate principal amount of Wheaton
Franciscan Services, Inc. System Revenue
Bonds, Series 1989 (Covenant Medical Center,
Incorporated) of the City of Waterloo, Iowa,
WITNESS my hand and the seal of said City hereto affixed at
Waterloo, Iowa, this 13th day of July, 1989.
(SEAL) I
) 1 ,
Michelle Temeyer, Deputy Clerk/Audito.
Subscribed and sworn to before me this
13th day of July , 1989.
:41
Notary Publ , State of �-
My Commissi n. n�'�
(Notarial Seal)
16591A/07
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