HomeMy WebLinkAbout2021-02-09 - RESOLUTIONS - PFA BOND HMNMH (2)' RESOLUTION 21-5
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA CLARITA,
CALIFORNIA, APPROVING A BOND FINANCING TO BE ISSUED BY THE
CALIFORNIA PUBLIC FINANCE AUTHORITY TO BENEFIT HENRY MAYO
NEWHALL MEMORIAL HOSPITAL, DOING BUSINESS AS HENRY MAYO
NEWHALL HOSPITAL, AND RELATED ACTION IN AN AGGREGATE
PRINCIPAL AMOUNT NOT TO EXCEED $125,000,000, FOR THE PURPOSE OF
FINANCING OR REFINANCING THE ACQUISITION, CONSTRUCTION,
EQUIPPING, IMPROVEMENT, REHABILITATION, REMODELING AND OTHER
CAPITAL IMPROVEMENTS OF HEALTH CARE AND RELATED FACILITIES
AND CERTAIN OTHER MATTERS RELATING THERETO
WHEREAS, Henry Mayo Newhall Memorial Hospital, doing business as Henry Mayo
Newhall 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 $125,000,000 (the "Bonds"); and
WHEREAS, the proceeds of the Bonds will be used to, among other things, finance and
refinance the acquisition, construction, equipping, improvement, rehabilitation, remodeling and
other capital improvements of health care and related facilities located on the campus of the
' Henry Mayo Newhall Hospital with a street address of 23845 McBean Parkway, in the
community of Valencia in the City of Santa Clarita, California (collectively, the "Facilities") and
the refinancing may include refinancing of all or a portion of the California Statewide
Communities Development Authority Revenue Bonds (Henry Mayo Newhall Memorial
Hospital) Series 2013A and Series 2013B and/or the California Statewide Communities
Development Authority Insured Revenue Bonds (Henry Mayo Newhall Memorial Hospital)
Series 2014, proceeds of which financed or refinanced other health care and related
improvements that are part of the Facilities, and the Facilities are all located along McBean
Parkway and are adjacent to each other, from 25751 McBean Parkway westward to the main
Orchard Village Road entrance; and
WHEREAS, the Facilities to be financed and refinanced with the proceeds of the Bonds
are owned and/or operated by the Borrower or to be owned and/or operated by the Borrower and
located in the community of Valencia in the City of Santa Clarita (the "City"); and
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 because the
Project is located within the territorial limits of the City; and
WHEREAS, the City Council of the City (the "City Council") is the elected legislative
body of the City and is an applicable elected representative under Section 147(f)`of the Code;
and
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WHEREAS, the Authority has requested that the City Council approve the issuance of
the Bonds by the Authority in order to satisfy the public approval requirement of Section 147(f) I
of the Code; and
WHEREAS, pursuant to Section 147(f) of the Code, the City 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, California, does
hereby resolve as follows:
SECTION 1. The City Council hereby approves the issuance of the Bonds by the
Authority for the purposes of financing and refinancing the Project. It is the purpose and intent
of the City 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 by the applicable elected representative
of the governmental unit having jurisdiction over the area in which the Project is located, in
accordance with said Section 147(f).
SECTION 2. 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 3. The adoption of this resolution shall not obligate the City to (i) 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 (ii) make any contribution or advance any
funds to the Authority or the Borrower.
SECTION 4. 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 5. This resolution shall become effective immediately upon its passage and
adoption.
PASSED, APPROVED AND ADOPTED this 9'^ day of February 2021.
/Z t&4
MAYOR
r11010
CITY CLERK
DATE: _ r
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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 No. 21-5 was duly adopted by the City Council of the City of Santa
Clarita at a regular meeting thereof, held on the 9th day of February 2021, by the following vote:
AYES: COUNCIL MEMBERS: Gibbs, Weste, Smyth, Mclean, Miranda
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: None
LAIVI�� &
CITY CLEfRK
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