HomeMy WebLinkAbout1986-665-11.24.1986 (This Notice to be Posted)
NOTICE AND CALL OF MEETING
Governmental Body: The City Council of the City
of Waterloo, Iowa
Date of Meeting: November 24
1986
Time of Meeting: 7:00
o'clock p .m.
Place of Meeting: Council Chambers
City Hall
Waterloo, Iowa
PUBLIC NOTICE IS HEREBY GIVEN that the above-mentioned
governmental body will meet at the date, time and place above
set out. The tentative agenda for said meeting is as follows:
1 . Resolution Regarding the Designation of a
Representative of the City of Waterloo, Iowa to Serve on
the Board of Directors of VHi Capital Resources Group.
2. Such additional matters as are set forth on the
additional page (s ) attached hereto
(attach copy of agenda) .
This notice is given at the direction of the Mayor, pursuant
to Chapter 21, Iowa Code, as amended, and the local rules of said
governmental body.
/417
a Y P• urger, ity Clerk/Auditor of
t City Waterloo, Iowa
Waterloo, Iowa; November 2i 1986
The City Council of Waterloo, Iowa, met on the above
date in the Council Chambers, City Hall in Waterloo, Iowa,
at 7: 00 o'clock ,_.m. in open regular
pursuant to law and the rules of said Council. session,
The meeting was called to order by MayorBernar d McKinley
presiding and on roll call the following members of the
Council were present:
Tony Budak
Jack Seeber
Mary Lichty
Rose Angel
Frank Dowie
Absent:
Willie Mae Wright
Jim Miller
* * * * * * * *
Matters were discussed relative to the request from
Covenant Medical Center regarding the need for the City to
designate a representative to serve on the Board of
Directors of VHi Capital Resources Group. Following a
discussion of the proposal, Council Member Seeber
introduced the following Resolution in written form and
moved its adoption. Council Member Angel
seconded the motion to adopt. After due consideration of
said motion, the roll was called and the Resolution was
adopted by the following vote:
AYES: Tony Budak ABSENT: Willie Mae Wright
Jack 6eeber Jim Miller
Mary Lichty
Rose Angel
Frank Dowie
NAYS : None
The Resolution was thereupon signed by the Mayor and in
evidence of approval was attested by the City Clerk and
declared to be effective. The Resolution is as follows:
RESOLUTION NO. 1986- 665
A RESOLUTION DESIGNATING A REPRESENTATIVE OF THE CITY OF
WATERLOO, IOWA TO SERVE ON THE BOARD OF DIRECTORS OF VHi
CAPITAL RESOURCES GROUP.
WHEREAS, the City of Waterloo, Iowa (the "Issuer" ) , by
Resolution No. 1985-691 and Resolution No. 1985-718, adopted
December 2, 1985 and December 23, 1985, respectively, has
determined to enter into a 28E Agreement with other cities in the
State of Iowa to form and participate in an Iowa nonprofit
corporation established under Iowa Code Chapter 504A to be known
as VHi Capital Resources Group (the "Corporation" ) ; and
WHEREAS, pursuant to said 28E Agreement, the Corporation
shall be permitted to exercise some or all of the Issuer' s powers
on behalf of the Issuer, including but not limited to the power
of the Issuer to issue Variable Rate Demand Hospital Revenue
Bonds ( the "Bonds" ) and loan the proceeds from the sale of said
Bonds for the purpose of defraying the cost of the acquisition of
capital assets for Covenant Medical Center, Waterloo, Iowa (the
"Borrower" ) and refinancing existing indebtedness incurred by the
Borrower to acquire capital assets ( the "Project" ) ; and
WHEREAS, the Issuer has determined that the amount necessary
to defray all or a portion of the cost of acquiring the Project,
including necessary expenses incidental thereto, will require the
issuance of not to exceed $3 ,000,000 aggregate principal amount
of Variable Rate Demand Hospital Revenue Bonds , and it is
proposed that the Corporation loan said amount to the Borrower
under a Loan Agreement between the Corporation and Borrower
pursuant to which loan payments will be made by Borrower in
amounts sufficient to pay the principal of , interest and premium,
if any, on said Bonds, as and when the same shall be due ; and
WHEREAS, the Bonds shall be limited obligations of the
Corporation and shall not constitute nor give rise to a pecuniary
liability of the Issuer or the Corporation or a charge against
their general credit or the Issuer's taxing powers, and the
principal of , interest and premium, if any, on the Bonds shall be
payable solely out of the revenues derived from the Project to be
financed by the Bonds; and
WHEREAS, it is necessary for the Issuer to appoint a
representative of the Borrower as its representatives on the
Board of Directors of the Corporation with full power and
authority to represent the Issuer in the management of the
affairs of the Corporation.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the
Issuer as follows:
Section 1 . The Issuer hereby appoints Ladd Waldo of Covenant
Medical Center, Waterloo, Iowa, as its initial representative on
the Board of Directors of the Corporation with full power and
authority to represent the Issuer in the management of the
affairs of the Corporation.
ADOPTED AND APPROVED this 24thday of November , 1986.
City of Waterloo, Iowa
(SEAL)
/ 'it71 `e 1,/,\;`t... e
Mayor - Bernard L. McKinlet
Attest:
ty erk - y P. Burger
CLERK'S CERTIFICATE
I , Larry P. Burger, being first duly sworn do hereby depose
and certify that I am the duly appointed, qualified, and acting
City Clerk/Auditor of the City of Waterloo, State of Iowa; that
as such I have in my possession, or have access to, the complete
corporate records of said City and of its City Council and
officers; that I have carefully compared the transcript hereto
attached with the aforesaid corporate records ; and that said
transcript hereto attached is a true, correct and complete copy
of all the corporate records showing the action taken by the City
Council of said City at a meeting open to the public on
November 24 , 1986; that said proceedings remain in full force
and effect and have not been amended or rescinded in any way;
that said meeting and all action thereat was duly and publicly
held, with members of the public in attendance, in accordance
with a notice of meeting and tentative agenda, a copy of which
was timely served on each member of the City Council and posted
on a bulletin board or other prominent place easily accessible to
the public and clearly designated for that purpose at the
principal office of the City Council (a copy of the face sheet of
said agenda being attached hereto) pursuant to the local rules of
the City Council and the provisions of Chapter 21, Iowa Code, and
upon reasonable advance notice to the public and media at least
twenty-four hours prior to the commencement of the meeting as
required by said law.
Witness my hand and the Corporate Seal of said City hereto
affixed this 25th day of November , 1986.
(Seal ) Lar y P urger, ty erk Auditor
State of Iowa
SS:
County of Black Hawk )
Subscribed and sworn to before me this day, the date last
above written.
(Seal ) Notary Public