HomeMy WebLinkAbout26631-11.07.1979 RESOLUTION NO. . d
RESOLUTION authorizing the sale of
Hospital Facility Revenue Bonds , Series
1979 (St. Francis Hospital Project)
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 (i) to pay the cost of
land, buildings and improvements suitable for the use of any
voluntary nonprofit hospital or (ii ) to retire any existing
indebtedness of a voluntary nonprofit hospital; and
WHEREAS, the City proposes to make the necessary
arrangements with St. Francis Hospital of Franciscan Sisters
(the "Corporation" ) , an Iowa nonprofit corporation, for the
financing (as hereinafter described ) of the improvement of , and
purchase of equipment for, its voluntary nonprofit hospital
located in the City (hereinafter sometimes referred to as the
"Hospital Facilities" ) and the refunding of certain existing
indebtedness of the Corporation; and
WHEREAS, the location of the Hospital Facilities within
the City and the refunding of the aforesaid indebtedness will
improve the general health and welfare of the inhabitants of the
City; and
WHEREAS, the City has heretofore determined to proceed
with the issuance of one or more series of the City ' s hospital
facility revenue bonds (together, the "Bonds") after conducting
a public hearing on the proposal to issue the Bonds , as required
and provided by Section 419. 9 of the Act; and
WHEREAS, it is now proposed to authorize the issuance
and sale of Bonds in the aggregate principal amount of $10, 250, 000
(the "Series 1979 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 and the refunding of certain existing
indebtedness of the Corporation, the Series 1979 Bonds be and
the same are hereby authorized and ordered to be issued pursuant
to a Trust Indenture containing substantially the terms and
provisions set forth in Appendix C to the Preliminary Official
Statement hereinafter referred to . The Series 1979 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 1979 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
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is hereby authorized and directed to execute and deliver said
Bond Purchase Agreement .
Section 3 . That use of the Preliminary Official
Statement dated October 26, 1979, and a final Official State-
ment relating to the Series 1979 Bonds, in substantially the
form of said Preliminary Official Statement but with such com-
pletions and amendments conforming to the terms of the Series
1979 Bonds as the Mayor may approve , be and the same is hereby
authorized and the Mayor is hereby authorized and directed to
execute said final Official Statement .
Section 4 . That definitive forms of the Trust Inden-
ture and Loan Agreement, Mortgage and Security Agreement referred
to in the Preliminary Official Statement 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 November 7, 1979.
1 6 Mayor
Attest :
2 z Jcd�J
Deputy/ City Clerk
Recorded November 8 1979.
D9 uty City Clerk
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