Res 1996-218 - Laserfiche WebLink

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- ')I/F WHEREAS, in order to satisfy the requirements of section 147(f) of the Code, it is necessary for the Commissioners Court or the County Judge, as the chief elected executive officer of the County, to approve the Bonds after the Hearing has been held; WHEREAS, the Bonds are payable from revenues to be paid by the Nursing Center, Adventist Health System, or an affiliate of either of them (the "Borrower") and are not payable from taxes by any jurisdiction, including Tarrant County, Texas or the County; WHEREAS, it is deemed necessary and advisable that this Resolution be adopted; THEREFORE, BE IT RESOLVED BY THE COMMISSIONERS COURT OF HAYS COUNTY, TEXAS THAT: Section 1: This Resolution is adopted for the purpose of satisfying the conditions and requirements of Section 221.030 of the Act and section 147(f) of the Code and the regulations promulgated thereunder. Section 2: The County of Hays, Texas, acting by and through its Commissioners Court, officially finds, determines, and declares that it is in the public interest and to the benefit of the residents of the County and the citizens of the State of Texas that the Issuer issue its limited obligation revenue bonds (the "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 Hays Nursing Center which is located at 1900 Medical Parkway, San Marcos, Hays County, Texas 78666, a 120-bed facility providing skilled nursing care as well as less acute services with space for physical, occupational and speech therapy and to reimburse the Borrower for its prior payment of the cost of acquiring, constructing, renovating and equipping such health care facilities and paying a portion of the cost of issuance of the Bonds, which financing is hereby found to be required, necessary, and convenient for health care, research, and education within this State. Section 3: The County of Hays, Texas acting by and through its Commissioners Court, hereby consents to the issuance of the Bonds by the Issuer, upon such terms as the Issuer deems appropriate and approves. Section 4: The Commissioners Court of the County hereby authorizes the receipt and acceptance of the summary of the proceedings from the Hearing and hereby approves the Bonds, which are to be issued A. in the maximum aggregate principal amount not to exceed $4,200,000, and B. to, among other things, refinance certain outstanding obligations of the Borrower relating to a health care facility, located in the County of Hays, Texas and now known as the Hays Nursing Center located at 1900 Medical Parkway, San Marcos, Texas 78666, a 120-bed facility providing skilled nursing care as well as less 0216141 -2-