HomeMy WebLinkAboutResolution - 2627 - Conset To Financing - EPHFDC - West Texas Hospital - 08/13/1987Resolution #2627
August 13, 1987
Prepared by Hutchinson Price Boyle & Brooks, Attorneys
August 13, 1987 City Council Meeting
RESOLUTION
A RESOLUTION CONSENTING TO THE FINANCING OF CERTAIN NON-PROFIT HEALTH
FACILITIES LOCATED WITHIN THE BOUNDARIES OF THE CITY OF LUBBOCK, TEXAS,
AND OTHER MATTERS RELATED THERETO
WHEREAS, the Texas Health Facilities Development Act, Article 1528j,
Vernon's Texas Civil Statutes, as amended (the "Act") provides for the
financing of certain health facilities in the State of Texas through the
issuance of revenue bonds issued by health facilities development
corporations operating pursuant to the Act;
WHEREAS, the Act requires that the use of revenue bond proceeds by a
health facilities development corporation to finance health facilities
located outside the boundaries of the sponsoring entity of such
corporation be approved by the City in which such facilities are located;
WHEREAS, the Texas Community Hospital Association, Inc., a Texas
non-profit corporation (the "Association"), desires to acquire a certain
health care facility located within the City known as the West Texas
Hospital (the "Hospital") and to finance such acquisition with the
proceeds of revenue bonds issued in conjunction with other financings for
the Association by the E1 Paso Health Facilities Development Corporation
(the "Issuer"), a health facilities development corporation created under
the Act upon authorization by the City of E1 Paso, Texas;
WHEREAS, adoption of this Resolution and consent to the use of such
bond proceeds in no manner results in any financial obligation or
endorsement by the City Council of the City but is only for the limited
purpose of granting the jurisdiction required under the Act for the
financing of the Hospital;
BE IT THEREFORE RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
SECTION 1. That the City of Lubbock consents, within the meaning
of Section 4.01(1) of the Act, to the use of the proceeds of the Issuer's
health care revenue bonds to finance the Hospital.
SECTION 2. That this Resolution shall, in no manner, cause or
result in any financial or other obligation of the City, it being the sole
intent of the passage hereof to provide the consent to finance acquisition
of the Hospital with the proceeds of such bonds.
SECTION 3. This Resolution shall take effect immediately from and
after its adoption.
PASSED AND APPROVED THIS 13TH DAY OF AUGUST, 1987.
ATTEST:
Rane to Boyd, City Secretary
AP ROVED -AS TO CONTENT:
Robert Massengale, AssIstant City
Manager for Financial Services
APPROVED AS TO FORM:
hn C. Ross, Jr., City Attorney
(SEAL)
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B. C. Mc INN, MAYOR