HomeMy WebLinkAbout2016-09-13 - RESOLUTIONS - HMNMH TEFRA (2)RESOLUTION 16-62
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA CLARITA,
CALIFORNIA, APPROVING A TAX-EXEMPT BOND FINANCING TO BE ISSUED
BY THE CALIFORNIA PUBLIC FINANCE AUTHORITY TO BENEFIT
HENRY MAYO NEWHALL MEMORIAL HOSPITAL AND RELATED ACTION
WHEREAS, Henry Mayo Newhall Memorial Hospital, a nonprofit public benefit
corporation and an organization described in Section 501(c)(3) of the Internal Revenue Code of
1986 (the "Borrower"), has requested that the California Public Finance Authority (the
"Authority") issue bonds in one or more series in an aggregate principal amount not to exceed
$150,000,000 (the "Bonds");
WHEREAS, the proceeds of the Bonds will be used to, among other things, finance and
refinance the acquisition, construction, improvement, and equipping of health and related
facilities located at 23845 McBean Parkway, 23833 McBean Parkway, 23701 McBean Parkway,
and 25727 McBean Parkway, each in the community of Valencia in the City of Santa Clarita,
California 91355-2083 (collectively, the "Facilities");
WHEREAS, the Facilities to be financed and refinanced with the proceeds of the Bonds
are owned and operated by the Borrower and located in the community of Valencia in the City of
Santa Clarita (the "City");
WHEREAS, the City proposes to become an Additional Member of the Authority
pursuant to Section 12 of the Joint Exercise of Powers Agreement (the "Agreement") relating to
the California Public Finance Authority;
WHEREAS, pursuant to Section 147(f) of the Internal Revenue Code of 1986 (the
"Code"), the issuance of the Bonds by the Authority must be approved by the City;
WHEREAS, the City Council of the City (the "Council") is the elected legislative body
of the City and is one of the applicable elected representatives required to approve the issuance
of the Bonds under Section 147(f) of the Code;
WHEREAS, the Authority has requested that the Council approve the issuance of the
Bonds by the Authority in order to satisfy the public approval requirement of Section 147(f) of
the Code; and
WHEREAS, pursuant to Section 147(f) of the Code, the Council has, following notice
duly given, held a public hearing regarding the issuance of the Bonds, and now desires to
approve the issuance of the Bonds by the Authority.
NOW THEREFORE, the City Council of the City of Santa Clarita does hereby resolve as
follows:
SECTION 1. The City hereby requests to become an Additional Member of the
Authority pursuant to Section 12 of the Agreement. The Council hereby approves the
Agreement and any one of the officers of the City is hereby authorized and directed to execute
the Agreement.
SECTION 2. The Council hereby approves the issuance of the Bonds by the Authority.
It is the purpose and intent of the Council that this Resolution constitute approval of the issuance
of the Bonds by the Authority, for the purposes of Section 147(f) of the Code.
SECTION 3. The issuance of the Bonds shall be subject to the approval of the Authority
of all financing documents relating thereto to which the Authority is a party. The City shall have
no responsibility or liability with respect to the Bonds or the credit worthiness of the Borrower.
SECTION 4. The adoption of this Resolution shall not obligate the City to 1) approve
any application or request for or take any other action in connection with any planning, approval,
permit or other action necessary for any project, or 2) make any contribution or advance any
funds to the Authority or the Borrower.
SECTION 5. The officers of the City are hereby authorized and directed, jointly and
severally, to do any and all things and to execute and deliver any and all documents which they
deem necessary or advisable in order to carry out, give effect to, and comply with the terms and
intent of this Resolution and the financing transaction approved hereby.
SECTION 6. This Resolution shall become effective immediately upon its passage and
adoption.
PASSED, APPROVED AND ADOPTED by the City Council of the City of Santa
Clarita, California this 13th day of September 2016.
YOR
ATTEST:
10-04
CITY CLERK
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STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) ss.
CITY OF SANTA CLARITA )
I, Mary Cusick, City Clerk of the City of Santa Clarita, California, do hereby certify that
the foregoing Resolution was duly adopted by the City Council of the City of Santa Clarita at a
regular meeting thereof, held on the 13th day of September 2016, by the following vote:
AYES: COUNCILMEMBERS: McLean, Boydston, Weste, Acosta, Kellar
NOES: COUNCILMEMBERS: None
ABSENT: COUNCILMEMBERS: None
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CITY CLERK