Res 1996-219 - Laserfiche WebLink

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;,& - RESOLUTION CONCERNING THE USE OF THE PROCEEDS OF REVENUE BONDS ISSUED BY THE TARRANT COUNTY HEALTH FACILITIES DEVELOPMENT CORPORATION TO REFINANCE CERTAIN OUTSTANDING OBLIGATIONS, TO REIMBURSE CERTAIN COSTS, AND . - TO FINANCE CERTAIN COSTS RELATING TO A HEALTH FACILITY KNOWN AS CENTRAL TEXAS MEDICAL CENTER LOCATED WITHIN THE BOUNDARIES OF THE COUNTY OF HAYS, TEXAS WHEREAS, the Tarrant County Health Facilities Development Corporation (the "Issuer") was created by Tarrant 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 Central Texas Medical Center, Inc., a Texas non-profit corporation or an affiliate thereof (the "Borrower"), to refinance certain outstanding obligations of the Borrower relating.to a health facility now known as the Central Texas Medical Center which is located at 1301 Wonder World Drive, San Marcos, Texas, within the territorial limits of the County of Hays (the "County"), Texas, which health care facility is a 109-bed acute care hospital facility, 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 County 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 Tarrant County, Texas and within the limits of the County requires the consent of the County Commissioners Court of the County (the "Commissioners Court"); WHEREAS, pursuant to section 147(f) of the Internal Revenue Code of 1986, as amended (the "Code"), the Issuer has conducted a public hearing (the "Heari:p.g") in the County following reasonable public notice with respect to the Bonds and the project described above and has presented to the Commissioners Court a summary of the proceedings from the Hearing; 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; 0216150 -1-