HomeMy WebLinkAbout021555 RES - 01/26/1993A RESOLUTION
APPROVING A BOND RESOLUTION BY COASTAL BEND HEALTH
FACILITIES DEVELOPMENT CORPORATION PROVIDING FOR THE
ISSUANCE OF BONDS FOR INCARNATE WORD HEALTH SERVICES.
WHEREAS, Coastal Bend Health Facilities Development
Corporation (the "Issuer") was created under the auspices of the
City of Corpus Christi, Texas; and
WHEREAS, a public hearing was held with respect to the
issuance by the Issuer of its Incarnate Word Health Services
Revenue Bonds, Series 1993A, 1993B, 1993C-1, and 1993C-2 (the
"Series 1993 Bonds") in an amount not to exceed $125,000,000 for
the benefit of Incarnate Word Health Services; and
WHEREAS, it is deemed necessary
Resolution be adopted.
THEREFORE, BE IT RESOLVED BY THE
OF CORPUS CHRISTI, TEXAS :
and advisable that this
CITY COUNCIL OF THE CITY
SECTION 1. That the "RESOLUTION OF THE BOARD OF
DIRECTORS OF THE COASTAL BEND HEALTH FACILITIES DEVELOPMENT
CORPORATION AUTHORIZING ISSUANCE OF SERIES 1993 BONDS; AUTHORIZING
AMENDMENTS TO THE SERIES 1987 INDENTURE AND LOAN AGREEMENT; AND
APPROVING DOCUMENTS RELATED TO SUCH MATTERS" in substantially the
form and substance attached to this Resolution and made a part
hereof for all purposes, is hereby specifically approved, and the
Indenture of Trust and Loan Agreement for the Series 1993 Bonds and
the Amended and Restated Indenture of Trust and Amended and
Restated Loan Agreement for the Series 1987 Bonds referenced
therein are hereby specifically approved, and the Series 1993 Bonds
in the maximum principal amount of $125,000,000 may be issued
pursuant thereto for the purpose of financing and refinancing the
costs of certain health facilities built and to be built by the
Borrower and paying a portion of the cost of issuance.
SECTION 2. That the City of Corpus Christi hereby
approves the issuance of the aforesaid Series 1993 Bonds in the
maximum aggregate principal amount of $125,000,000 for Incarnate
Word Health Services, and further approves the Project as described
in the Bond Resolution relating to the Series 1993 Bonds, and such
approval shall be solely for the purposes of Section 147(f) of the
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Internal Revenue Code of 1986 and the City shall have no
liabilities for the payment of the Series 1993 Bonds nor shall any
of its assets be pledged to payment of the Series 1993 Bonds.
ATTEST:
MAY R
THE CITY •- -•RPUS CHRISTI
APPROVED: 3'1- DAY OF C).a
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Corpus Christi, Texas
day of JQYtuari 19 q3
The above resolution was passed by the following vote:
Mary Rhodes
Cezar Galindo
Leo Guerrero
Betty Jean Longoria
Edward A. Martin
Joe McComb
Dr. David McNichols
Clif Moss
Mary Pat Slavik
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