HomeMy WebLinkAbout2000-11-28 - RESOLUTIONS - TEFRA TAX HMNH (2)RESOLUTION NO.00-163
A RESOLUTION OF THE CITY COUNCIL
i OF THE CITY OF SANTA CLARITA, CALIFORNIA
APPROVING THE ISSUANCE OF TAX-EXEMPT
OBLIGATIONS BY THE CALIFORNIA
STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY,
IN AN AMOUNT NOT TO EXCEED $66 MILLION,
FOR HENRY MAYO NEWHALL MEMORIAL HOSPITAL
A NON-PROFIT PUBLIC BENEFIT CORPORATION
DESCRIBED IN SECTION 501(c)(3)
OF THE INTERNAL REVENUE CODE OF 1986
WHEREAS, the Borrower, Henry Mayo Newhall Memorial Hospital, had requested that the
Issuer issue its notes, bonds, or any other evidence of indebtedness (the "Obligations") in an
aggregate principal amount not expected to exceed the Maximum Principal Amount for the
purpose of providing funds to finance their Debt Restructuring and Projects; and
WHEREAS, the Issuer, California Statewide Communities Development Authority, has
requested that the governing body of the Local Government Participant approve the
issuance of the Obligations and the Project/Debt Restructuring in order to satisfy the public
approval requirement of Section 147(1) of the Internal Revenue Code of 1986, as amended
(the "Code"), and the requirements of Section 9 of the Amended and Restated Joint Exercise
of Powers Agreement (the "Joint Powers Agreement"), dated as of June 1, 1988, among
i certain local agencies, including the Local Government Participant; and
WHEREAS, the Local Government Participant, City of Santa Clarita, held a public hearing
on the Public Hearing date providing a reasonable opportunity for persons to comment on
the issuance of the Obligations and the Project; and
WHEREAS, it is intended that this Resolution shall constitute the approval of the issuance
of the Obligations and the Project required by Section 147(f) of the Code, Section 9 of the
Joint Powers Agreement and Section 91630(f) of the Government Code of the State of
California.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SANTA CLARITA, does
resolve as follows:
SECTION 1: The City Council hereby approves the issuance of the Bonds. It is the purpose
and intent of the City Council that this Resolution constitute approval of the issuance of the
Bonds for the purposes of (i) Section 147(f) of the Code by the applicable elected
representative of the governmental unit having jurisdiction over the area in which the
Hospital is located, in accordance with said Section 147(f) and (ii) Section 9 of the
Agreement.
SECTION 2: 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.
Page 2
SECTION 3: This Resolution shall take effect immediately upon its adoption by the City
Council, and the City Clerk shall certify to the vote adopting this Resolution.
SECTION 4: The City Clerk shall forward a certified copy of this Resolution to the
following:
Aleks Frimershtein
O'Melveny & Myers LLP
400 South Hope Street
Los Angeles, CA 90071-2899
PASSED, APPROVED AND ADOPTED this 28° day of November, 2000.
ATTEST:
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STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) ss
CITY OF SANTA CLARITA )
I. Sharon L. Dawson. CMC, City Clerk of the City of Santa Clarita, do hereby certify that
the foregoing Resolution was duly adopted by the City Council of the City of the Santa
Clarita at a regular meeting thereof, held on the 28' day of November, 2000, by the
following vote:
AYES: COUNCILMEMBERS: Smyth, Ferry, Kellar, Weste, Darcy
NOES: COUNCILMEMBERS: None
ABSENT: COUNCILMEMBERS: None
CITY CLERK
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