HomeMy WebLinkAboutRES NO 046-07
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RESOLUTION NO. n 4 6 - 07
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
BAKERSFIELD APPROVING THE ISSUANCE OF REVENUE BONDS
BY THE CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT
AUTHORITY TO BENEFIT CATHOLIC HEAL THCARE WEST
WHEREAS, Catholic Healthcare West, a nonprofit public benefit corporation (the
"Corporation"), has requested that the California Statewide Communities Development
Authority (the "Authority") participate in the issuance of revenue bonds in an aggregate
principal amount not to exceed $985,000,000 (the "Bonds") for the purpose of, among
other things, financing and/or refinancing the acquisition, construction, improvement and
equipping of certain medical facilities known as Bakersfield Memorial Hospital, Mercy
Hospital (Truxtun Campus) and Mercy Southwest Hospital, and other health care
facilities related thereto, owned and operated by the Corporation (collectively, the
"Facilities") and located in the City of Bakersfield (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 Facilities are 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 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, 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, BE IT RESOLVED by the City Council of the City of
Bakersfield, State of California, as follows:
Section 1. The City Council hereby approves the issuance of the Bonds by the
Authority for the purposes of financing and/or refinancing the acquisition, acquiring,
construction, improvement and equipping of the Facilities. 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 (a) Section 147(f) of the Code by the applicable elected
representative of the governmental unit having jurisdiction over the area in which the
Facilities are located, in accordance with said Section 147(f), and (b) Section 9 of the
Agreement.
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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
that 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.
I HEREBY CERTIFY that the foregoing Resolution was passed and adopted by
the Council of the City of Bakersfield at a regular meeting thereof held on
rEe a 8 2007 by the following vote:
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NOES:
ABSTAIN:
ABSENT:
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COUNCILMEMBER CARSON, BENHAM, COUCH, HANSON, SULLIVAN, SCRIVNER, WEIR
COUNCILMEMBER
COUNCILMEMBER
COUNCILMEMBER
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PAMELA A. McCARTHY, CMC
CITY CLERK and Ex Officio Clerk of the
Council of the City of Bakersfield
APPROVED
HARVEY L. HALL
MAYOR of the City of Bakersfield
APPROVED as to form:
VIRGINIA GENNARO
City Attorney
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ORIGINAL