HomeMy WebLinkAbout26514-09.17.1979 RESOLUTION NO. 2 6 5 1 4
RESOLUTION determining to proceed with the
issuance of not to exceed $ 7,500,000
Hospital Facility Revenue Bonds (St. Francis
Hospital Project) of the City of Waterloo,
Iowa for the purpose of acquiring equipment
for and improvements to the existing hospital
facility of St. Francis Hospital of
Franciscan Sisters .
WHEREAS the City of Waterloo, in the County of Black
Hawk, State of Iowa ( the "City" ) , proposes to issue Hospital
Facility Revenue Bonds (St. Francis Hospital Project) of said
City in a principal amount not to exceed $ 7,500,000 (the
"Bonds") for the purpose of lending the proceeds thereof to
St . Francis Hospital of Franciscan Sisters ( the "Corporation")
to defray the cost, to that amount, of the acquisition of certain
equipment and improvements ( the "Project" ) by the Corporation
suitable for use at its voluntary nonprofit hospital located
within the City, all in accordance with the provisions of Chapter
419 of the Code of Iowa, 1979, as amended ( the "Act") ; and
WHEREAS pursuant to published notice of intention this
City Council has conducted a public hearing, as required by
Section 419. 9 of the Act, and this City Council deems it neces-
sary and advisable to proceed with the Project, the issuance of
the Bonds, and the loan of the proceeds of the Bonds to the
Corporation;
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 residents
who appeared were given an opportunity to express their views
for or against the proposal to issue the Bonds .
Section 2 . That this City Council deems it necessary
and advisable, and hereby determines, to proceed with the Project,
the issuance of the Bonds, and the loan of the proceeds of the
Bonds to the Corporation, all upon terms and conditions mutually
satisfactory to the City and the Corporation.
Section 3. That this Resolution shall become effective
immediately upon its passage and approval .
17th
Passed and ap
proved September 1979 .
Mayor
Attest:
City Clerk
Recorded September 18 1979
A6r.,44%5.44W-1_./
City Clerk
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