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<br /> , <br /> 24. <br /> RESOLUTION 1996-218R <br /> RESOLUTION CONCERNING THE USE OF THE <br /> PROCEEDS OF REVENUE BONDS ISSUED <br /> BY THE TARRANT COUNTY HEALTH FACILITIES <br /> DEVELOPMENT CORPORATION TO REFINANCE CERTAIN OUTSTANDING <br /> OBLIGATIONS, TO REIMBURSE CERTAIN COSTS, AND <br /> TO FINANCE CERTAIN COSTS RELATING <br /> TO A HEALTH FACILITY KNOWN AS HAYS NURSING CENTER <br /> LOCATED WITHIN THE BOUNDARIES OF <br /> THE CITY OF SAN :MARCOS, TEXAS <br /> 'WHEREAS, the Tarrant County Health Facilities Development Corporation (the <br /> "Issuer") was created by Tarrant County, Texas pursuant to the provisions of the <br /> Health Facilities Development Act, Chapter 221, Texas Health and Safety Code (the <br /> "Act"); <br /> WHEREAS, AdventistlHealth Care Centers, a Florida non-profit corporation <br /> ("AdventistlHealth Care Centers") owns the Hays Nursing Center, a Texas non-profit <br /> corporation (the "Nursing Center") and would like to refinance certain currently <br /> outstanding debt originally issued for the benefit of the Nursing Center with tax- <br /> exempt bonds (the "Bonds") secured by FHA mortgage insurance and GNMA securitieš <br /> in a total amount not to exceed $4,200,000 million; <br /> WHEREAS, AdventistlHealth Care Centers is affiliated with Adventist' Health <br /> System/Sunbelt, Inc. ("Adventist Health System"), a Florida not-for-profit corporation; <br /> WHEREAS, it has been proposed that the refinancing of the debt for the Nursing <br /> Center be accomplished in conjunction with the refinancing of debt for the Huguley <br /> Nursing Center in Tarrant County, Texas, which is also affiliated with Adventist <br /> Health System, through the issuance of bonds by the Issuer; <br /> WHEREAS, the City of San Marcos, Texas (the "City") is a "sponsoring entity" <br /> - within the meaning of the Act; <br /> , 'WHEREAS, under the Act, use of the proceeds of the Bonds to refinance <br /> I outstanding obligations, to reimburse costs, and to finance costs relating to a health <br /> facility located outside the limits of Tarrant County, Texas and within the limits of the <br /> City requires the consent of the City Council of the City (the "City Council"); <br /> WHEREAS, the Bonds are payable from revenues to be paid by the Nursing <br /> Center, Adventist Health System, or an affiliate of either of them (the "Borrower") and <br /> are not payable ITem taxes by any jurisdiction, including Tarrant County, Texas or the <br /> City; <br /> WHEREAS, it is deemed necessary and advisable that this Resolution be <br /> adopted; <br /> THEREFORE, BE IT RESOLVED BYTHE CITY COUNCIL OF THE CITY OF <br /> SAN II/IARCOS, TEXAS THAT: <br /> =275 -1- <br />