HomeMy WebLinkAboutRES 970114-U - Bonds Health Facilities Dev CoRESOLUTION NO. 97��%T ' (/
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
GEORGETOWN, TEXAS, GRANTING APPROVAL TO THE ISSUANCE OF
BONDS BY GEORGETOWN HEALTH FACILITIES DEVELOPMENT
CORPORATION FOR GEORGETOWN HEALTHCARE SYSTEM, INC.
AND TRANSFER OF TITLE TO HOSPITAL FACILITIES IN
CONNECTION THEREWITH
WHEREAS, Georgetown Health Facilities Development Corporation (the "Issuer") was
created under the auspices of the City of Georgetown, Texas (the "City"); and
WHEREAS, Georgetown Healthcare System, Inc. (the "Hospital") operates Georgetown
Hospital pursuant to a lease agreement with Georgetown Hospital Authority (the "Authority"); and
WHEREAS, the Issuer has presented to the City a Notice of Intention to issue bonds (the
"Bonds") for the benefit of the Hospital to refund the Authority's outstanding bonds and to (mance
and refinance the cost of construction, improvement, and equipping of Georgetown Hospital; and
WHEREAS, in connection with the refunding of the Authority's outstanding bonds, title to
Georgetown Hospital will be transferred to the Hospital; and
WHEREAS, a public hearing was held with respect to the issuance of the Bonds by the
Issuer for the benefit of the Hospital; and
WHEREAS, a public hearing was held with respect to the issuance of the Bonds by the
Issuer for the benefit of the Hospital; and
WHEREAS, it is deemed necessary and advisable that this Resolution be adopted.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF GEORGETOWN, TEXAS, THAT:
SECTION 1. The facts and recitations contained in the preamble of this resolution are
hereby found and declared to be true and correct, and are incorporated by reference herein and
expressly made a part hereof, as if copied verbatim. The City Council hereby finds that this
resolution implements the following policy of the Century Plan - Policy Plan Element:
Health and Human Services Policy End, which states: "Comprehensive, affordable
health and human services are available through public and private organizations."
Health Facilities Resolution No.
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SECTION 2. The City Council hereby approves the issuance of the aforesaid Bonds in the
maximum aggregate principal amount of $20,000,000 for the Hospital, further approves the Projects
as described in the Notice of Intention relating to the Bonds, and further approves the transfer of title
to Georgetown Hospital from the Authority to the Hospital, and such approval shall be solely for
the purposes of Section 147(f) of the Internal Revenue Code of 1986 and Section 262.033 of the
Texas Health and Safety Code, as amended, and the City of Georgetown shall have no liabilities for
the payment of the Bonds nor shall any of its assets be pledged to payment of the Bonds.
SECTION 3. The Mayor is hereby authorized to execute, and the City Secretary to attest
thereto this resolution on behalf of the City of Georgetown.
SECTION 4. This resolution shall be effective immediately upon adoption.
RESOLVED this 14th day of January, 1997.
Approved:
Attest:
Leo Wood, Mayor Sandra D. Lee, City Secretary
Approved as to form:
Marianne Landers Banks, City Attorney
Health Facilities Resolution No. ! Vo f JV v
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