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HomeMy WebLinkAbout26713 Waterloo, Iowa January 7, 1980 The City Council of the City of Waterloo, Iowa, met in Regular session at 7:00 o' clock p .M. , at the Council Chambers in the City Hall in said City. The meeting was called to order and there were present LEO P. ROOFF , Mayor, in the chair, and the following named Councilmen: DELMAN BOWERS , JAMES BURTON, FRANK DOWIE, HAROLD GETTY, TOM PENALUNA, JACK ROEHR, ROBERT WILHARM Absent : None. Councilman ROEHR introduced and caused to be read in full Resolution No. 26713 entitled, "RESOLUTION fixing a date for hearing on proposed Hospital Facility Revenue Bonds, Series 1980A (Schoitz Memorial Hospital Project) " , and moved its adoption; seconded by Councilmen WILHARM After due consideration of said resolution by the Council, the Mayor put the question and, upon the roll being called, the following voted : Aye : BOWERS, BURTON, DOWIE, GETTY, PENALUNA, ROEHR, WILHARM Nay: None Whereupon the Mayor declared said resolution duly adopted and signed his approval thereto. On motion and vote the meeting adjourned. Mayor Attest : Actin City Jerk -2- RESOLUTION NO. 26713 RESOLUTION fixing a date for hearing on proposed Hospital Facility Revenue Bonds, Series 1980A (Schoitz Memorial 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 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 the improvement of its voluntary nonprofit hospital 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, in order to expedite the anticipated public benefits and avoid delays which would otherwise occur pending the completion of the procedures necessary to be carried out by the City to make the required funds available, and to enable the Corporation to proceed with and complete the aforesaid Hospital Facilities , it is considered necessary and desirable that the City provide satisfactory assurances that the proceeds of the sale of one or more series of proposed hospital facility revenue bonds, when issued, will be made available to be applied to such purpose; and WHEREAS, it is deemed necessary and advisable for the promotion of the general health and welfare of the inhabitants of the City, that the Hospital Facilities be acquired, improved and equipped, as aforesaid, and that the City take such action as may be required under applicable statutory provisions to authorize and issue the Bonds, as hereinafter defined, and to apply the proceeds thereof to such purpose; and WHEREAS, the aggregate cost of the Hospital Facilities, together with related costs and expenses, has been estimated not to exceed $2,000,000, and it is proposed to pay such costs through the issuance of one or more series of the City ' s hospital facility revenue bonds (together, the "Bonds" ) , but it is first necessary to conduct a public hearing on the proposal to issue the Bonds as required and provided by Section 419.9 of the Act; NOW, THEREFORE, Be It Resolved by the City Council of the City of Waterloo, Iowa, as follows : Section 1. That this Council meet at the Council Chambers in the City Hall in said City on the 28th day of January, 1980, at o'clock _.M. , at which time and place a public hearing shall be held on the proposal to issue Bonds to finance the Hospital Facilities in an amount currently -2- estimated not to exceed $2, 000, 000, as referred to in the preamble hereof, and at which hearing all local residents who appear shall be given an opportunity to express their views for or against the proposal to issue the Bonds. Section 2 . The City Clerk is hereby directed to give notice of intention to issue the Bonds by publication at least once not less than fifteen (15 ) days prior to the date fixed for the hearing in , a legal newspaper published and having a general circulation within said City, in substantially the following form: 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 28th day of January, 1980, at the Council Chambers in the City Hall, Waterloo, Iowa, at o ' clock _.M. , for the purpose of conducting a public hearing on the proposal to issue Hospital Facility Revenue Bonds , Series 1980A (Schoitz Memorial Hospital Project ) of said City, in an aggregate principal amount not exceeding $2,000,000 , for the purpose of loaning the proceeds thereof to Schoitz Memorial Hospital to defray the cost, to that amount , of certain additions and improvements by said Hospital to its existing hospital facility located at Ridgeway & Kimball Avenues , said additions and improvements consiting generally of the expansion and remodeling of the existing hospital facility for use as a -3- lobby and administrative office and the improvement of certain land of said Hospital to provide additional parking, including access thereto by way of a tunnel. 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 a Loan Agreement, Mortgage and Security Agreement No. 1 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 January 7, 1980. City Clerk Section 3. That the City hereby recognizes that actions taken and to be taken by the Hospital in connection with the acquisition and construction of the Hospital Facilities have been and will be taken in reliance upon 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 -4- resolution shall be effective forthwith upon its passage and approval. Passed and approved January 7, 1980. Mayor Attest: City Clerk Recorded , 1980. City Clerk -5- I, being first duly sworn, do hereby depose and certify that I am the duly appointed, qualified and acting City Clerk of the City of Waterloo, in Black Hawk County, Iowa, and that as such I have in my posses- sion or have access to the official records of said City and of its officials and that I have compared the transcript hereto attached with said official records and that the same constitutes a true, correct and complete copy of such official records show- ing the action taken by the City Council of said City on January 7, 1980, to fix a date for a public hearing on the proposal to issue Hospital Facility Revenue Bonds , Series 1980A (Schoitz Memorial Hospital Project) of said City. WITNESS my official signature and the seal of said City at Waterloo, Iowa, this day of , 1980. City Clerk (SEAL) STATE OF IOWA ) SS COUNTY OF BLACK HAWK ) Subscribed and sworn to before me this day, the date last above written. Notary Public My commission expires : (Notarial Seal)