HomeMy WebLinkAbout2013-11-26 - RESOLUTIONS - REVENUE BONDS- HENRY MAYO (2)' RESOLUTION 13-75
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA CLARITA,
CALIFORNIA, APPROVING THE ISSUANCE BY THE CALIFORNIA STATEWIDE
COMMUNITIES DEVELOPMENT AUTHORITY OF ITS REVENUE BONDS (HENRY
MAYO NEWHALL MEMORIAL HOSPITAL), IN ONE OR MORE SERIES FROM TIME TO
TIME, IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $175,000,000 FOR
THE PURPOSE OF FINANCING AND REFINANCING THE ACQUISITION,
CONSTRUCTION, IMPROVEMENT, AND EQUIPPING OF HEALTH AND RELATED
FACILITIES AND CERTAIN OTHER MATTERS RELATING THERETO
WHEREAS, Henry Mayo Newhall Memorial Hospital, a California nonprofit public
benefit corporation (the "Corporation"), has requested that the California Statewide Communities
Development Authority (the "Authority") participate in the issuance of one or more series of
revenue bonds in an aggregate principal amount not to exceed $175,000,000 (the "Bonds") to
finance and refinance the costs of the acquisition, construction, improvement, and equipping of
certain health and related facilities of the Corporation (the "Project'); and
WHEREAS, the Project to be financed and refinanced with the proceeds of the Bonds are
or will be owned and operated by the Corporation and located within the City of Santa Clarita
' (the "City"); and
WHEREAS, pursuant to Section 147(f) of the Internal Revenue Code of 1986, as
amended (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 one of the applicable elected representatives required to approve the
issuance of the Bonds under Section 147(f) of the Code; and
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)
of the Code and the requirements of Section 9 of the Amended and Restated Joint Exercise of
Powers Agreement, dated as of June 1, 1988 (the "Agreement'), among certain local agencies,
including the City; and
WHEREAS, the Authority is also requesting that the City Council approve the issuance
of any refunding bonds, in one or more series from time to time, hereafter issued by the Authority
for the purpose of refinancing bonds which financed or refinanced the Project (the "Refunding
Bonds"), but only in such cases where federal tax law would not require additional consideration
or approval by the City Council; and
I
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; and '
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, sale, execution and
delivery of the Bonds and the Refunding Bonds, in one or more series from time to time, by the
Authority. It is the purpose and intent of the City Council that this Resolution constitute
approval of the issuance of the Bonds and the Refunding Bonds, in one or more series from time
to time, by the Authority for the purposes of (a) Section 147(f) of the Code by the applicable
elected representatives of the governmental unit having jurisdiction over the area in which the
Project is located, in accordance with said Section 147(f) and (b) 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.
SECTION 3. This Resolution shall take effect immediately upon its adoption.
SECTION 4. The City Clerk shall certify to the adoption of this Resolution.
PASSED, APPROVED, AND ADOPTED this 26th day of November, 2013. '
AYOR
ATTEST:
INT LERK
DATE: I Z 1 S/I 3
2
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) ss.
CITY OF SANTA CLARITA )
I, Armin6 Chaparyan, Interim 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 Santa Clarita at
a regular meeting thereof, held on the 26th day of November 2013, by the following vote:
AYES: COUNCILMEMBERS:
NOES: COUNCILMEMBERS
ABSENT: COUNCILMEMBERS:
Boydston, McLean, Ferry, Weste, Kellar
None
None
i
R�Ttklbvf Y ERK