HomeMy WebLinkAbout26949 RESOLUTION NO. 2 6 9 4 9
RESOLUTION FIXING A DATE FOR HEARING ON
PROPOSED HOSPITAL FACILITY REVENUE BONDS ,
SERIES 1980B (SCHOITZ MEMORIAL HOSPITAL
PROJECT)
WHEREAS, the City of Waterloo,ion in R of Black a municipality and political
i Chapterinthe C Countyof the Code of Hawk,Iowa, af Iowa (the "City") a subdivis-
ion
referred to as the "Act") 1979, as amended (hereinafter horized
bsometimes
to issue revenue bonds and loan the
ds to
one or more contracting parties to be used to
ings and improvements suitable for the use of pay the cost of pandeebuild�.
pital; and any voluntary nonprofit hos-
WHEREAS, the City proposes to make the necessar
Schoitz Memorial Hospital (the "Hospital") , Y arrangements with
for the financing of certain buildings and improvementsowa nonprofit suitable for the
corporation,
use of the Hospital as a professional office building to be locate
City (hereinafter sometimes referred to as the "Hospital Facilities") ;d in
the
WHEREAS the location a and
of the Hospital Facilities within the City
improve the general health and welfare of the inhabitants of the
will
WHEREAS, in order to expedite the anticipated City; and
delays which would otherwise occurg p public benefits
necessary to be carried out by the City tomake e cthe lrequired thefunds and avoid
and to enable the Corporation towprocedur�as
Hospital Facilities, it is necessaryconsideredeth nand dd esirs the aforesaid
Hospitalprovide satisfactory assurances that the desirable ofhat oneho City
series of proposed hospital facilityproceeds of the sale or more
made available to be applied to such revenuep bonds, when issued, will be
purpose; and
WHEREAS, it is deemed necessary and advisable for the
general health and welfare of the inhabitants of the City, promotion of the
Facilities be acquired , improved and equipped,
City take such action as may be required ender as aforesaid ,
the Hospital
on and to and that ore
authorize and issue the Bonds, as hereinafter defined ,e provis-
i
ons the proceeds thereof to such purpose; and
and to
WHEREAS, a public hearing was conducted on the proposal to issue Hos-
pital Facility Revenue Bonds,
Pro-
ject) said City n an a Series 1980B (Schoitz Memorial Hospital Pro..Dec00 on of ady 28, in80 aggregate principal amount not exceeding $4, 750,
Hos-
pital Facilities, togethernd withnce that time related costs and
aggregate cost of the HsT
mated not to exceed $5, 200,000• and expenses has been esti-
mated
WHEREAS, since it is proposed to of one or more series of the pay such costs through the issuance
her, the "Bonds") , it is necessaryJtoospital conductFacility Revenue Bonds (toget-
her, public hearing on the
proposal to issue the Bonds in an aggregate ggregate principal amount not exceeding
$5, 200 ,000 as required and
prnvided by Section 419.9 of the Act;
NOW, THEREFORE, Be It Resolved by the City Council of the City of Water-
loo,
Iowa, as follows:
Section 1 . That this Council meet at the Council Chambers in the Ci
Hall in said City on the 12th day of May, 1980, at 7:00 o'clock P.M. ty,which time and place a public hearing shall be held on the
Bonds to finance the Hospital Facilities in an amount currentlyat
exceed $5, 200, 000, proposal to issue
toaex l$ local resins eferred d t^ in the preamble hereof, and at
not
appear shall be it which
ex-
press their views for or against the proposal tog issue an opportunity to
Section 2. The City Clerk is hereby directed to
give
to issue the Bonds by publication at least once not lessthanlf if tofo intention
days prior to the date fixed for hearing in the "Waterloo Courier" on a le(e5)
newspaper published and having a general circulation within said City, in
substantially the following form: gal
NOTICE OF INTENTION TO ISSUE
HOSPITAL FACILITY REVENUE BONDS
The City Council of the City of Waterloo, in Black Hawk County, Iowa,
will meet on the 12th day of May, 1980 , at the Council Chambers in the City
Hall , Waterloo, Iowa, at 7 ;00 o' clock P.M. , for the purpose of conducting
a public hearing on the proposal to issue Hospital Facility Revenue Bonds,
Series 1980B (Schoitz Memorial Hospital Project) of said City, in an ag-
gregate principal amount not exceeding $5, 200,000 , for the purpose of loan-
ing the proceeds thereof to Schoitz Memorial Hospital to defray the cost ,
to that amount , of certain buildings and improvements to be located at Ridge-
way & Kimball Avenues suitable for the use of the Hospital as a professional
office building . These bonds, when issued , will be limited obligations and
will not constitute general obligations of said City nor will they be payable
in any manner by taxation, but said bonds will be payable solely and only out
of the revenues to be derived by said City from Series B Loan Agreement , Mott
gage and Security Agreement between said City and said Hospital .
At the time and place fixed for said public hearing all local residents
who appear will be given an opportunity to express their views for or against
the proposal to issue said bonds.
By order of the City Council April 21 , 1980.
La y P . urger, C • Clerk
Section 3. That the City hereby recognizes that actions taken and to
be taken by the Hospital in connection with the acquisition and construct-
ion of the Hospital Facilities have been and will be taken in reliance up-
on the willingness of the City to issue the Bonds.
Section 4. That all resolutions or parts thereof in conflict herewith
be and the same are hereby repealed , and this resolution shall be effective
forthwith upon its passage and approval .
Passed and approved April 21 , 1980 .
C
Leo P. Rooff, M_ ' ,r
ATTEST:
Lavry B ger, City C rk.
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