HomeMy WebLinkAbout26962 RESOLUTION NO. 2Q2
RESOLUTION authorizing the sale of
Hospital Facility Revenue Bonds, Series
1980B (Schoitz Memorial Project)
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WHEREAS, the City of Waterloo, a municipality and
political subdivision in the County of Black Hawk, State of
Iowa (the "City" ) is authorized by Chapter 419 of the Code of
Iowa, 1979, as amended (hereinafter sometimes referred to as
the "Act") to issue revenue bonds and loan the proceeds to one
or more contracting parties to be used to pay the cost of
land , buildings and improvements suitable for the use of any
voluntary nonprofit hospital; and
WHEREAS, the City proposes to make the necessary
arrangements with Schoitz Memorial Hospital (the "Hospital") , an
Iowa nonprofit corporation, for the financing (as hereinafter
described) of certain buildings and improvements suitable for
the use of the Hospital as a professional office building to
be located in the City (hereinafter sometimes referred to as the
"Hospital Facilities" ) ; and
WHEREAS, the location of the Hospital Facilities within
the City will improve the general health and welfare of the
inhabitants of the City; and
WHEREAS, it is now proposed to authorize the sale of
Bonds in the aggregate principal amount of $4,965,000 (the "Series
B Bonds" ) on the terms hereinafter set forth;
NOW, THEREFORE, Be It Resolved by the City Council of
the City of Waterloo, Iowa, as follows :
Section 1 . That, in order to finance the cost of
the Hospital Facilities, upon conducting a public hearing on
the proposal to issue the Series A Bonds as required and provided
by Section 419.9 of the Act, the City will authorize and order
to be issued pursuant to a. Series B Trust Indenture the Series B
Bonds containing substantially the terms and provisions set
forth in Appendix C to the Preliminary Official Statement herein-
after referred to. The Series B Bonds shall mature, bear interest,
and be subject to sinking fund redemption as set forth in the
"Schedule of Maturities" set forth as Exhibit A hereto.
Section 2 . That the sale of the Series B Bonds
pursuant to a Bond Purchase Agreement, in substantially the form
attached hereto as Exhibit B and containing substantially the
terms and provisions set forth therein, is hereby authorized,
approved and confirmed, and the form, terms and provisions of
said Bond Purchase Agreement are hereby approved , and the Mayor
is hereby authorized and directed to execute and deliver said
Bond Purchase Agreement.
Section 3 . That use of the Preliminary Official
Statement dated April 24, 1980, and a final Official Statement
relating in part to the Series B Bonds, in substantially the
form of said Preliminary Official Statement but with such com-
pletions and amendments conforming to the terms of the Series
B Bonds as the Mayor may approve, be and the same is hereby
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authorized and the Mayor is hereby authorized and directed to
execute said final Official Statement.
Section 4 . That definitive forms of the Series B
Trust Indenture and the Series B Loan Agreement, Mortgage and
Security Agreement referred to in the Preliminary Official State—
ment be prepared and considered for approval by further action
of the City Council .
Section 5 . 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 30, 1980.
Mayor
Attest:
f City Clerk/
Recorded 6 - O , 1980.
r C1/
ity Clerk
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