HomeMy WebLinkAbout1989-579-11.06.1989 (Proceeding No. 3:
Public Hearing -
Resolution to Proceed)
Waterloo, Iowa
November 6, 1989
The City Council of the City of Waterloo, Iowa, met in
regular session at 7 :00 o'clock P.M. , at the Council Chambers in
the City Hall in said City. The meeting was called to order and
there were present Bernie McKinley, Mayor, and the following
named Councilmembers:
Brown, Buck Fox Angel Wright, Budak
Absent : Dell
* * * * * * *
The City Council investigated and found that notice of
intention to issue Wheaton Franciscan Services, Inc. System
Revenue Bonds, Series 1989 (Covenant Medical Center, Incorporat-
ed) of said City in an aggregate principal amount not to exceed
$28, 500 ,000 has been duly given by publication on October 19 ,
1989, in the Waterloo/Cedar Falls Courier , a legal newspaper
published and having a general circulation within said City.
This being the time and place specified in said notice for the
conduct of a public hearing on the proposal to issue said bonds ,
the Mayor announced that any local resident attending the hearing
would now be given an opportunity to express his or her views for
or against the proposal to issue the bonds. After all local
residents who appeared at the hearing who desired to do so had
expressed their views for or against the proposal to issue the
bonds , the public hearing was declared closed and
Councilmember Buck introduced and caused to be read
Resolution No. 1989- 579 entitled,
RESOLUTION determining to proceed with the
issuance of not to exceed $28 ,500 ,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
Wright 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, Buck, Fox, Angel , Wright, Budak
Absent : Dell
Nay:
Whereupon, the Mayor declared said resolution duly
adopted and signed his approval thereto.
* * * * * * * *
On motion and vote the meeting adjourned,
43-e-lAvi,ez-iiS6=441
Bernard L. M Kinley, May r
Attest: •
.f.
L rry P Burger ity Clerk
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RESOLUTION NO. 1989- 579
RESOLUTION DETERMINING TO PROCEED WITH THE
ISSUANCE NOT TO EXCEED $28, 500, 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 $28,500,000 ( 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 3onds 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 November 6, 1989 .
CITY OF WATERLOO, IOWA
7 /9*eG
Bernar L. cK nley, Mayo
Attest :
r ry,- . Burg r it Clerk
'
,-F
STATE OF IOWA )
) ss
COUNTY OF BLACK HAWK )
I, Larry P. Burger, being first duly sworn, do hereby
depose and certify that I am the duly appointed, qualified and
acting City Clerk of the City of Waterloo, in Black Bawk 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- 5�9entitled:
RESOLUTION determining to proceed with the
issuance of not to exceed $28, 500,000 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 7th day of November, 1989.
(SEAL) `' �°
a,11,/,,()
LarryP. Burger, City erk
Sty scribed and worn to efore me this ,//�
1 day of , 1989.
L-116
Notary Pu, Llic, State of
My Commission: 36 --c;e-s
(Notarial Seal)
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