HomeMy WebLinkAbout26515-09.17.1979 W I
AZ/I
RESOLUTION NO. 2 6 5 1 5 t/`
RESOLUTION determining to proceed with the
issuance of not to exceed $ 3,500,000
Hospital Facility Revenue Bonds (St.
Francis Hospital Project) of the City of
Waterloo, Iowa, for the purpose of refunding
certain indebtedness 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 $ 3,500.,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 refunding of certain
existing indebtedness of the Corporation ( the "Project" ) ,
incurred by the Corporation in connection with 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.
Passed and approved September 17t1979.
Mayor
Attest:
City Clerk
Recorded September 18 , 1979
City Clerk
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