HomeMy WebLinkAbout6554_CCv0001.pdf RESOLUTION NO. 6551
RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF REDLANDS APPROVING THE ISSUANCE OF THE CALIFORNIA
STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY REVENUE
BONDS(LOMA LINDA UNIVERSITY BEHAVIORAL MEDICINE CENTER,
INC.PROJECT),SERIES 2006 IN AN AGGREGATE PRINCIPAL AMOUNT
NOT TO EXCEED$13,000,000 FOR THE PURPOSE OF FINANCING THE
ACQUISITION OF AN ACUTE CARE PSYCHIATRIC HOSPITAL AND
CERTAIN OTHER MATTERS RELATING THERETO
WHEREAS, Loma Linda University Behavioral Medicine Center, Inc., a
California nonprofit corporation (`Behavioral") and Lorna Linda University Medical
Center ("Medical Center"), have 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 $13,000,000 (the
"Bonds") for the acquisition by Behavioral from the Medical Center of the acute
psychiatric hospital (the "Facilities") currently operated by Behavioral and located at
1710 Barton Rd., within the City of Redlands, California(the "City"); and
WHEREAS, the Authority has requested that the City Council of the City
of Redlands (the "City Council") approve the issuance of the Bonds by the Authority in
order to satisfy 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;
NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City
of Redlands, California as follows:
Section 1. The City Council hereby approves the issuance of the Bonds by
the Authority. It is the purpose and intent of the City Council that this resolution
constitutes approval of the issuance of the Bonds by the Authority for the purposes
of 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.
ADOPTED, SIGNED AND APPROVED this 7th day of November, 2006.
CITY OF REDLANDS, CALIFORNIA
(;L lLw'-�' -
ATTEST: .la arrison, Mayor
Lar Payzer, ",k
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I, Lorrie Poyzer, City Clerk of the City of Redlands, hereby certify that the foregoing resolution
was duly adopted by the City Council at a regular meeting thereof held on the 7th day of
November, 2006, by the following vote:
AYES: Councilmembers Gilbreath, Gallagher, Aguilar; Mayor Harrison
NOES: None
ABSENT: Councilmember Gil
ABSTAIN: None
Lora Poyzer, t C erk