HomeMy WebLinkAbout84-125 - Hoag Memorial Hospital Presbyterian ProjectRESOLUTION NO. 84 -125
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF NEWPORT BEACH RELATING TO THE CITY OF
NEWPORT BEACH, CALIFORNIA FLOATING /FIXED RATE
HEALTH FACILITIES REVENUE BONDS (HOAG MEMORIAL
• HOSPITAL PRESBYTERIAN PROJECT), SERIES 1984 A
THROUGH F
WHEREAS, on February 13, 1984, the City Council of the
City of Newport Beach, by Ordinance, added Chapter 3.26 to the
Newport Beach Municipal Code entitled Health Care Facility
Revenue Bond Ordinance, thereby establishing the powers and
procedures for a method whereby revenue bonds may be issued for
the purpose of providing financing to participating health
institutions for specified purposes; and
WHEREAS, the Ordinance adding Chapter 3.26 to the
Newport Beach Municipal is now in full force and effect; and
WHEREAS, on August 27, 1984 the City Council of the
City of Newport Beach adopted a Resolution authorizing issuance
not to exceed $65 million dollars aggregate principal amount of
City of Newport Beach, California, Floating /Fixed Rate Health
Facilities Revenue Bonds (Hoag Memorial Hospital Presbyterian
Project), series 1984 A through F; and
WHEREAS, the Resolution authorizing issuance of bonds
is now in full force and effect; and
WHEREAS, on October 3, 1984, Floating Fixed Rate Health
Facilities Revenue Bonds (Hoag Memorial Hospital Project) were
issued in the principal sum of $61.2 million dollars; and
WHEREAS, a fee in the sum of $306,000 was paid to the
City in conjunction with issuance and sale of thesebonds, the fee
to be used to defray the costs of paramedic services; and
WHEREAS, pursuant to the terms of the Bond Indentures
isapproved and authorized in the Resolution, the City must appoint
representatives, to acting on its behalf in order to implement
certain notices, requests and certificates.
NOW, THEREFORE, BE IT RESOLVED by the City Council of
the City of Newport Beach, the following:
Section 1. The City Manager, Director of Finance and
• City Attorney are hereby authorized and empowered to execute and
deliver, on behalf of City, all notices, requests and
certificates required pursuant to the terms of the Bond
Indentures to be delivered by the City or its representative.
Section 2. All actions heretofore taken by the
officers and agents of the City with respect to the sale and
issuance of the Bonds are hereby approved, confirmed and
ratified, and the officers of the City and their authorized
deputies and agents are hereby authorized and directed, jointly
and severally, to do any and all things and to execute and
deliver any and all certificates and other documents in addition
to those enumerated herein which they or bond counsel may deem
necessary or advisable in order to consummate the issuance, sale
and delivery of the Bonds and otherwise effectuate the purposes
of this Resolution.
Section 3. The City Clerk shall certify to the passage
of this Resolution by the City Council of the City of Newport
Beach and it shall thereupon take effect.
ADOPTED this ]._day of November , 1984.
A� TT$ST:
City Clerk
RSB /Bonds
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