Loading...
HomeMy WebLinkAboutRES 082410-K - Tax Exempt Finance GHCSRESOLUTION NO RESOLUTION APPROVING THE ISSUANCE OF A TAX EXEMPT FINANCING BY THE CRAWFORD HEALTH FACILITIES DEVELOPMENT CORPORATION FOR GEORGETOWN HEALTHCARE COMMUNITY SERVICES, INC. WHEREAS, the City of Crawford, Texas, pursuant to the provisions of Chapter 221, Texas Health and Safety Code, as amended (the "Act") has approved and created the Crawford Health Facilities Development Corporation (the "Issuer") as a nonprofit public corporation, a constituted authonty, and an instrumentality of the City of Crawford to exercise the powers enumerated and provided in the Act; and WHEREAS, the Issuer may provide tax exempt financing to provide funds for any of its purposes including financing or refinancing the ' costs" of 'health facilities' as such term is defined in the Act; and WHEREAS, representatives of Georgetown Healthcare Community Services, Inc. (the 'Corporation") have requested that the Issuer issue a tax exempt "Issuer Note" to finance or refinance the costs of the project described in Section 2 below; and WHEREAS, the Issuer Note will be payable solely from revenues provided by Georgetown Healthcare Community Services, Inc., and the City of Georgetown and Williamson County, Texas will have no responsibility whatsoever for the payment of the Issuer Note, and WHEREAS, Section 147(f) of the Internal Revenue Code of 1986, as amended, requires the City Council of the City of Georgetown (as the "applicable elected representative" of the "Government unit" where the Project is located) to approve the Issuer Note; and WHEREAS, on August 11, 2010, a public hearing was held with respect to the aforementioned subject matter and notice of such public hearing was published in a newspaper of general circulation in the City of Georgetown at least 14 days prior to such public hearing; and WHEREAS, Section 221.030 of the Texas Health and Safety Code also requires that the City of Georgetown give its consent to the Issuer's financing or refinancing a project in the Georgetown city limits; and WHEREAS, the documents authorizing issuance of the Issuer Note shall contain wording stating that the Issuer Note imposes no liability on the City of Georgetown, its officials, officers, or employees; and WHEREAS, it is hereby deemed necessary and advisable that this resolution be adopted; {01234106.DOC \ 3} - 3 - RESOLUTION OF GEORGETOWN NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF GEORGETOWN, TEXAS: 1. That all of the recitals and preambles hereinabove stated are found to be true and correct and are incorporated herein. and made a part of this resolution. 2. That in order to satisfy the requirements of (i) Section 147(f) of the Internal Revenue Code of 1986, as amended, (ii) Section 221.030(a)(1) of the Texas Health and Safety Code, and (iii) any other approvals of the City as may be required by law in regard to the issuance of the Issuer Note, the City of Georgetown hereby approves the issuance of the Issuer Note described above in an aggregate principal amount not to exceed $7,500,000 in order to provide funds for Georgetown Healthcare Community Services, Inc. to finance or refinance the following Project. the remodeling or construction of facilities to be located at the Lake Aire Shopping Center, 2411 and 2423 Williams Drive, Georgetown, Texas, 78628. Georgetown Healthcare Community Services, Inc. is the owner of this facility. The particular project to be financed or refinanced by the Issuer Note is approximately 40,000 feet of the former Lake Aire Shopping Center which will be leased to Lone Star Circle of Care, Inc., a Texas nonprofit corporation. Lone Star Circle of Care, Inc. will use this area for a dental clinic, pediatric clinic, adult clinic, senior care clinic, mental health clinic, pharmacy and administrative purposes. This approval includes consent to the Issuer's financing or refinancing this particular Project within the City of Georgetown, Texas. 3. That this resolution shall become effective immediately upon its adoption. 4. That this approval in no event shall make the City of Georgetown liable in any manner whatsoever with regard to the Issuer Note or with regard to the Project to be financed or refinanced with the proceeds of the Issuer Note. 5. That it is hereby officially found and determined that the meeting at which this resolution is passed is open to the public as required by law, and that public notice of the time, place and purpose of said meeting was given as required by law. {01234106.DOC \ 3} 4 - RESOLUTION OF GEORGETOWN PASSED AND APPROVED this day of August, 2010. ATTEST: �r Ci Secretary ty of Georgetown, Texas Mayor City of Georgetown, Texas {01234106DOC \ 3} - 5 - RESOLUTION OF GEORGETOWN MTh UTES OF PUBLIC HEARING The undersigned, designated hearing officer of the Crawford Health Facilities Development Corporation, does hereby certify that I duly held a public hearing at the offices of Georgetown Healthcare Community Services, Inc., located at 1500 West University, Suite 102, Georgetown, TX 78628, on August 11, 2010, at 10:00 a.m to consider a tax exempt financing to be provided by the Crawford Health Facilities I )evelopment Corporation in a maximum principal amount of $7,500,000. The Proceeds of the financing will be loaned to Georgetown Healthcare Community Services, Inc., an affiliate of Georgetown Healthcare System, to finance or refinance the remodeling or construction of facilities located at the Lake Aire Shopping Center, 2411 and 2423 Williams Drive, Georgetown, Texas, 78628. The particular project to be financed or refinanced is approximately 40,000 feet of the former shopping center building which will be leased to Lone Star Circle of Care, Inc., a Texas nonprofit corporation. Lone Star Circle of Care, Inc will use this area for a dental clinic, pediatric clinic, adult clinic, senior care clinic, mental health clinic, and a pharmacy and administrative purposes. Upon opening the hearing, the only person in attendance was Sam Schultz, Chief Financial Officer of Georgetown Healthcare Community Services Inc. Mr. Schultz was in. attendance solely to observe and listen to any public comment. He did not desire to make a statement in the public hearing. There being no other persons present I closed the hearing. Signed this 11 th day of August, 2010. {01248427.DOC t 1 CERTIFICATE FOR RESOLUTION THE STATE OF TEXAS COUNTY OF WILLIAMSON CITY OF GEORGETOWN, TEXAS I, the undersigned City Secretary of the CITY OF GEORGETOWN, TEXAS (the "City"), hereby certify as follows: 1. The City Council (the "City Council") of the City convened in REGULAR MEETING ON THE 24TH DAY OF AUGUST, 2010, at its regular meeting place in the Georgetown City Hall (the "Meeting"), and the roll was called of the duly constituted officers and members of the City Council. All members of the City Council were present, except the following: , thus constituting a quorum, whereupon among other business, the following was transacted at the Meeting, a written: RESOLUTION APPROVING THE ISSUANCE OF A TAX EXEMPT FINANCING BY THE CRAWFORD HEALTH FACILITIES DEVELOPMENT CORPORATION FOR GEORGETOWN HEALTHCARE COMMUNITY SERVICES, INC. (the "Resolution") was duly introduced for the consideration of the City Council. It was then duly moved and seconded that the Resolution be adopted; and, after due discussion, such motion, carrying with it the adoption of the Resolution prevailed and carried by the following votes: AYES. NOES. 0 ABSTENTIONS: 0 2. A true, full, and correct copy of the Resolution adopted at the meeting described in the above and foregoing paragraph is attached toand follows this Certificate, the Resolution has been recorded in the minutes of the Meeting pertaining to the adoption of the Resolution; the members of the City Council were duly and sufficiently notified officially and personally, in advance, of the time, place, and purpose of the Meeting, and that the Resolution would be introduced and considered for adoption at the Meeting; and the Meeting was open to the public, and public notice was given, all as required by Chapter 551, Texas Government Code. { 01234106.D©C \ 3 } - 1 - RESOLUTION OF GEORGETOWN SIGNED AND SEALED THIS b',''7 DAY OF AUGUST, 2010. Secretary, City of Georgetown, Texas {01234106.DOC \ 3} - 2 RESOLUTION OF GEORGETOWN