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Home My WebLink AboutResolution - 1514 - Issuance Of Health Facilities Development Bonds, CPH Inc Project - 11/10/1983JCR:cl A RESOLUTION RESOLUTION 1514 - 11/10/83 BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK: WHEREAS, Lubbock Health Facilities Development Corporation was created under the auspices of the City of Lubbock, Texas; and WHEREAS, Section 103(k) of the Internal Revenue Code of 1954, as amended, requires that the City Council of Lubbock approve the Notes described below to be issued by Lubbock Health Facilities Development Corporation on behalf of the City of Lubbock, Texas; and WHEREAS, it is deemed necessary and advisable that this Resolution be adopted. THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF LUBBOCK, TEXAS THAT: SECTION 1. The City Council hereby approves the issuance of Notes in the amount of $5,700,000.00 to finance a Project for Charter Plains Hospital, Inc., and further approves the Project described in the Loan Agreement between the Lubbock Health Facilities Development Corporation and Charter Plains Hospital, Inc. dated as of October 1, 1983, attached to this Resolution and made a part hereof for all purposes, and such approval shall be solely for the purposes of Section 103(k) of the Internal Revenue Code of 19549 as amended, and the City of Lubbock, Texas shall have no lia- bilities for the payment of the Notes nor shall any of its assets be pledged to the payment of the Notes. Passed by the City Council this 10th day AT EST: Evelyn Gaffga, City r ary-Treasurer APPROVED AS TO CONTENT: Jim Blegg, Deputy CiN, APPROVED AS TO FORM: Ross, Jr., City Attorn y f November . 1983. i RESOLUTION 1514 - 11/10/83 C TY SECRETARY TREASURER CERTIFICATE FOR RESOLUTION APPROVING NOTES ISSUED BY LUBBOCK HEALTH FACILITIES DEVELOPMENT CORPORATION (CHARTER PLAINS HOSPITAL, INC. PROJECT) THE STATE OF TEXAS S CITY OF LUBBOCK S We, the undersigned officers of the City Council of the City of Lubbock (the "Sponsoring Entity"), hereby certify as follows: 1. The City Council of said Sponsoring Entity convened in REGULAR MEETING ON THE 10TH DAY OF NOVEMBER, 1983 at the regular meeting place, and the roll was called of the duly constituted officers and members of said City Council, to -wit: Alan Henry, Mayor M. J. Aderton Evelyn Gaffga, City Secretary Joan Baker E. Jack Brown (Vacancy) and all of said persons were present, except the following absentees: None absent , thus constituting a quorum. Whereupon, among other business, the following was transacted at said Meeting: a written RESOLUTION APPROVING NOTES ISSUED BY N0. 1514 LUBBOCK HEALTH FACILITIES DEVELOPMENT CORPORATION (CHARTER PLAINS HOSPITAL, INC. PROJECT) was duly introduced for the consideration of said City Council and read in full. It was then duly moved and seconded that said Resolution be passed; and, after due discussion, said motion, carrying with it the passage of said Resolution, prevailed and carried by the following vote: AYES: All members of said City Council shown present above voted "Aye" except NOES: None ABSTENTIONS: None 2. That a true, full, and correct copy of the afore- said Resolution passed at the Meeting described in the above and foregoing paragraph is attached to and follows this Certificate; that said Resolution has been duly recorded in said City Council's minutes of said Meeting; that the above and foregoing paragraph is a true, full, and correct excerpt from said City Council's minutes of said Meeting pertaining to the passage of said Resolution; that the persons named in the above and foregoing paragraph are the duly chosen, qualified, and acting officers and members of said City Council as indicated therein; that each of the officers and members of said City Council was duly and" sufficiently notified officially and personally, in advance, of the time, place, and purpose of the aforesaid Meeting and that said Resolution would be introduced and considered for passage at said Meeting, and each of said officers and members consented, in advance, to .the holding of said Meeting for such purpose. SIGNED AND SEALED THE 10th day of November, 1983. JAce ez-of Citr Secret Mayor (SEAL) RESOLUTION APPROVING NOTES ISSUED'BY LUBBOCK HEALTH FACILITIES DEVELOPMENT CORPORATION WHEREAS, Lubbock Health Facilities Development Corporation was created under the auspices of the City of Lubbock, Texas; and WHEREAS, Section 103(k) of the Internal Revenue Code of 1954, as amended, requires that the City Council of Lubbock approve the Notes described below to be issued by Lubbock Health Facilities Development Corporation on behalf of the City of Lubbock, Texas; and ' WHEREAS, it is deemed necessary and advisable that this Resolution be adopted. THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF LUBBOCK, TEXAS THAT: Section 1. The City Council hereby approves the issuance of Notes in the amount of $5,700,000 to finance a Project for Charter Plains Hospital, Inc., and further approves the Project located at the intersection of Erskine Street, Quaker Avenue and Loop 289 in Lubbock, Texas as further described in Exhibit A attached hereto, and such approval shall be sole y for the purposes of Section 103(k) of the Internal Revenue Code of 1954, as amended, and the City of Lubbock, Texas shall have no liabilities for the payment of the Notes nor shall any of its assets be pledged to the payment of the Notes. * * * * * * * * * * EXHIBIT A The Project is an 80 -bed psychiatric care hospital which will be located in the northwestern portion of the city of Lubbock, Texas, at the intersection of Erskine Street, Quaker Avenue and Loop 289. An approximately 44,850 gross square foot building will be constructed on an approximately 19.6 -acre parcel of land. The hospital will include pharmacy, laboratory and radiology facilities, as well as exercise equipment, a gymnasium and a swimming pool. 4�� y N0� 1� �9a3 !` V 1t{Y'4F.?ARY•7REASURER LUBBOCK HEALTH FACILITIES DEVELOPMENT CORPORATION City Council City of Lubbock, Texas 916 Texas Avenue Lubbock, TX 79457 RE: Lubbock Health Facilities Development Corporation Revenue Notes, Series 1983 (Charter Plains Hospital, Inc. Project) Mayor and City Council: Pursuant to Section 4.03 of the Health Facilities Develop- ment Act, Article 1528j V.A.T.C.S. (the "Act"), the Act under which the City Council of Lubbock, Texas created the Lubbock Health Facilities Development Corporation, notice is hereby given that the Lubbock Health Facilities Development Corporation intends to issue its above -captioned notes (the "Notes") for the purpose.. of providing financing or re- financing for all or part of the cost of a health facility (as such term is defined in the Act) (the "Project") for Charter Plains Hospital, Inc. formerly known as Charter Medical - Lubbock, Inc., a corporation duly incorporated under the laws of the State of Texas, and fully qualified to transact business in the State of Texas. The anticipated size of the proposed issue of Notes is $5,700,000. The Project shall be located in the northwestern portion of the city of Lubbock, Texas at the intersection of Erskine Street, Quaker Avenue and Loop 289. A full and complete description of the Project, including an explanation of projected costs of such Project, are attached hereto as Exhibit A. The necessity for such Project is to assist the maintenance of public health and to provide health facilities for the promotion and development of health care, all for the public purpose of promoting the health and welfare of the citizens of Lubbock, Texas, and the citizens of the State of Texas and the Project is needed for the purpose of improving the adequacy, cost, and accessibility of health care, research and education within this State. Exhibit "A" t r i • ♦ � t t l . City Council City of Lubbock, Texas -2- The proposed Notes shall be issued not less than fourteen (14) days from the date of filing of this letter. Sincerely, LUBBOCK HEALTH FACILITIES DEVELOPMENT CORPORATION By Title (SEAL) The undersigned City --Secretary of the City of Lubbock, Texas hereby acknowledges receipt hereof together with all exhi its hereto and same has been duly and valid filed *��ouncil of the City of Lubbock this Na day 1983. City Sec tar City of Lubbock, Texas EXHIBIT A The Project is an 80 -bed psychiatric care hospital which will be located in the northwestern portion of the city of Lubbock, Texas, at the intersection of Erskine Street, Quaker Avenue and Loop 289. A new, single -story 44,850 gross square foot building will be constructed on a 19.6 -acre parcel of land. The hospital will include pharmacy, laboratory and radiology facilities, as well as exercise equipment, a gymnasium and a swimming pool. Primary medical programs offered will be acute psychiatric care for adults, young adults and children, adult addictive disease services, substance abuse and crisis stabilization services. Special services offered will include occupational therapy, recreational therapy, family and marriage counseling, biofeedback, psychological testing and in-house educational programs for adolescents. The primary service area for the hospital will be Lubbock County. The Project is scheduled to open in November, 1983. An explanation of the projected costs of the Project is as follows: (a) Physical Asset Cost (1) Site Acquisition` $ 375,000 (2) Soil Tests and Site Preparation 87,000 (3) Construction and improvements required as a result of the project (including bringing utilities to site) 3,653,060 (4) Building or structure or office acquisition including total lease payments -0- (5) Renovation - -0- (6) Fixed Equipment Included in Construction (7) Movable Equipment 690,000 (8) Energy Conservation Provisions Included in Construction (b) Professional Services Cost (to include planning consultants, architects, feasibility studies, fees for cost estimation, estimated legal fees, managerial fees) 293,000 0 . (c) Cost Associated with Financing (,to include financial advisor, legal fees, placement fees, rating agency fees, title insurance fees, trustee fees and miscellaneous fees) 207,000 W Net interest during construction 135,000 (e). Allowance for contingencies (.should include any possible project cost overruns, inflation factors, and other unforeseen expenditures) 260,000 TOTAL $5,7001000 Clu CV W �� i THE STATE OF TEXAS t COUNTY OF LUBBOCK ' Before me Bonnie McKee a Notary Public in and for Lubbock Cot personally appeared _Twi I a Auti lie Ar -count unt Manager of thea "CorjpnotAtion") will hold is Public; October �ober13,, 9Ifr"�1go 0a. .00 pers Corporation. publishers of the Lubbock Avalanche -Journal — Morning. Eve' City aceted at 916- tires Avenue, waOM, being by me duly sworn did depose and say that said newspaper has been published Texas" tflalong- items .to be dIs- CUS5adVuopeproposal for the Is- than fifty-two weeks prior to the first insertion of this Legal Not ice -178 suance by the Corporation of one or more series of health facilities de- wn rd -565.34 No x'76386 at Lubbock County. Texas velopmem nates to finance or refi- trance the cost of land, buildings ed copy of the Notice is a true copy of the original and was and-aw4pmenf related to the ac- qulsftla" and Construction of a new, Avalanche -Journal on the following dates:' Seatemher 29, 1983 s)n 0411bry .44,650 gross square footvpspr�hiatrfchospital facility on L- C �1 t -05301 a it.6sf€et parcel of land, consti-. fulling a 'health facility' (as dip - fined in Article 1528i v.A.T.C.S.) for chi "rtes Plains Hospital, Inc. for krwwn, as Charter Medi- cal .` kximuInc _The sect-,'_)._ The maximum aggregate aggregate egate f"e face anwunt of the proposed Series 19 # Wes for the Prolect Is 56,000: WA,he-Proiectwill be located in iT Manager Account M a n a c e r the+ northwestern Port ion of the CityofLubbock, Texas atthe in - LUBBOCK AVALANCHE -JOURNAL 1 r;Action *t Erskine Street, Gua- k -r Avem[$ and Loop 289. All Inl- Southwestern Newspapers Corporation et .094 l�f Iles Are invited> to ai fend arlbaxPrvn any coMrngnts; theymliy have regarding the Pro- lettandt)1e issuance of the stove mentioned Series 1983 Note, our, Subscribed and sworn to before me this29th day of September 8 19 3 suanito the Plan of financing. . A--�;_ Clu CV W �� N ,- 111lSi Fa V� FORM 55-10 �h�b�-=w4s SEE RESOLUTION # 151'