HomeMy WebLinkAbout6333_CCv0001.pdf RESOLUTION NO. 6333
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDLANDS APPROVING
A TAX-EXEMPT BOND FINANCING TO BE ISSUED BY THE CALIFORNIA
STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY TO BENEFIT
REDLANDS COMMUNITY HOSPITAL AND CERTAIN AFFILIATES
WHEREAS, Redlands Community Hospital, a nonprofit public benefit corporation (the
"Hospital"), has requested that the California Statewide Communities Development Authority (the
"Authority") issue bonds in one or more series in an aggregate principal amount not to exceed
$65,000,000 (the `Bonds") for the purpose of, among other things, financing or refinancing the
acquisition, improvement and equipping (the "Financing") of certain health facilities owned or
operated by the Hospital (the "Facilities") located in the City of Redlands (the "City");
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;
WHEREAS, the City Council of the City (the "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;
WHEREAS, the Authority has requested that the 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 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 Redlands as
follows:
Section 1. The Council hereby approves the issuance of the Bonds by the Authority. It is
the purpose and intent of the 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
to be 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.
ADOPTED, SIGNED AND APPROVED this 2nd day of November, 2004.
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ATTEST: KUsa eppler, Mayor
Lorr' Poyzer, Ci e k
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 2nd of November, 2004,
by the following vote:
AYES: Councilmembers Gil, Gilbreath, George, Harrison; Mayor Peppler
NOES: None
ABSENT: None
ABSTAIN: None
Lorrie oyzer, Ci#t�*