HomeMy WebLinkAbout022253 RES - 06/20/1995RESOLUTION
CONCERNING THE USE OF THE PROCEEDS OF REVENUE BONDS
ISSUED BY THE DENTON COUNTY HEALTH FACILITIES
DEVELOPMENT CORPORATION TO REFINANCE CERTAIN
OUTSTANDING OBLIGATIONS; TO REIMBURSE CERTAIN COSTS, AND
TO FINANCE CERTAIN COSTS RELATING TO A HEALTH FACILITY
LOCATED WITHIN THE BOUNDARIES OF THE CITY OF CORPUS
CHRISTI, TEXAS.
WHEREAS, the Denton County Health Facilities Development Corporation (the "Issuer")
was created by Denton County, Texas pursuant to the provisions of the Health Facilities
Development Act, Chapter 221, Texas Health and Safety Code (the "Act");
WHEREAS, it has been proposed that the Issuer issue its limited obligation revenue bonds
(the "Bonds") and loan the proceeds thereof to Lutheran Social Services of the South, Inc., a Texas
non-profit corporation (the "Borrower"), to refinance certain outstanding obligations of the Borrower
related to a health facility now known as the Parkside Lodge Rehabilitation Center which is located
at 5517 Alameda, Corpus Christi, Nueces County, Texas 78412, within the territorial limits of the
City of Corpus Christi (the "City"), Texas, which health care facility will be used as a residential
treatment facility for adolescents, to reimburse the Borrower for the cost of acquiring, improving,
remodeling, and equipping such health care facility, and to finance the cost of acquiring, improving,
remodeling, and equipping such health care facility;
WHEREAS, the City is a "sponsoring entity" within the meaning of the Act;
WHEREAS, under the Act, use of the proceeds of the Bonds to refinance outstanding
obligations, to reimburse costs, and to finance costs relating to a health facility located outside the
limits of Denton County, Texas and within the limits of the City requires the consent of the City
Council of the City (the "City Council");
WHEREAS,the Bonds are payable from revenues to be paid by the Borrower and are not
payable from taxes by any jurisdiction, including Denton County, Texas or the City;
WHEREAS, it is deemed necessary and advisable that this Resolution be adopted;
THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
CORPUS CHRISTI, TEXAS THAT:
Section 1: This Resolution is adopted for the purpose of satisfying the conditions and
requirements of Section 221.030 of the Act.
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Section 2: The City of Corpus Christi, Texas, acting by and through its City Council,
officially finds, determines, and declares that it is in the public interest and to the benefit of the
residents of the City and the citizens of the State of Texas that the Issuer issue its limited obligation
revenue bonds and loan the proceeds thereof to the Borrower to refinance certain outstanding
obligations of the Borrower relating to a health facility now known as the Parkside Lodge
Rehabilitation Center, located at 5517 Alameda, Corpus Christi, Nueces County, Texas 78412,
which health care facility will be used as a residential treatment facility for adolescents, to reimburse
the Borrower for the cost of acquiring, improving, remodeling, and equipping such health care
facility, which financing is hereby found to be required, necessary, and convenient for health care,
research, and education within this State.
Section 3: The City of Corpus Christi, Texas acting by and through its City Council,
hereby consents to the issuance of the Bonds by the Issuer, upon such terms as the Issuer deems
appropriate and approves.
Section 4: This Resolution shall take effect immediately from and after its adoption.
PASSED AND APPROVED 2-0 i�1GCI 0(�I�K,Q1995.
ATTEST:
City Secretary, City of Corpus Christi, Mayor
Texas City of Corpus Christi, Texas
The foregoing Resolution was approved prior to passage as to form and correctness this the
15 day of C ,,L. -&& , 1995.
By:
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James R. Bray
City Attorney
A LutAk_ <<e e .fir
Alison Gallaway
Assistant City Attorney
Corpus Christi, Texas
2_0 Day of J a -
The above resolution was passed by the following vote:
Mary Rhodes
Dr. Jack Best
Betty Black
Melody Cooper
Tony Heldenfels
Betty Jean Longoria
John Longoria
Edward A. Martin
Dr. David McNichols
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