HomeMy WebLinkAbout1987-014
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RESOLUTION NO. ~1-~
RESOLUTION OF THE MAYOR AND COMMON COUNCIL
OF THE CITY OF SAN BERNARDINO, CALIFORNIA,
APPROVING THE ISSUANCE OF ITS "CITY OF
SAN BERNARDINO, CALIFORNIA, SCll HEALTH CARE
SYSTEM REVENUE BONDS (SISTERS OF CHARITY
OF THE INCARNATE WORD, HOUSTON, TEXAS),
SERIES 1987A," FOR THE PURPOSE OF REFUND-
ING CERTAIN OUTSTANDING BONDS, SERIES 1983A;
MAKING CERTAIN FINDINGS AND DETERMINATIONS
IN CONNECTION THEREWITH.
(SISTERS OF CHARITY OF THE INCARNATE WORD,
HOUSTON, TEXAS, SOLE CORPORATE MEMBER OF
ST. BERNARDINE HOSPITAL OF SAN BERNARDINO)
WHEREAS, the City of San Bernardino (the "City")
is a "home rule city" duly organized and existing under and
pursuant to a Charter adopted under the provisions of the
Constitution of the State of California; and
WHEREAS, pursuant to its home rule powers, the
City duly and regularly enacted Ordinance No. 3815, as
amended, (the "Ordinance") to finance various types of
projects, as defined in the Ordinance, and to issue its
special revenue bonds for the purpose of paying the cost of
financing such projects; and
WHEREAS, there was filed with the city an Applica-
tion (the "Application") pursuant to the provisions of the
Ordinance by Sisters of Charity of the Incarnate Word,
Houston, Texas, Sole Corporate Member of st. Bernardine
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Hospital of San Bernardino, (referred to herein as the
"Company" or "Sisters of Charity Hospital") requesting the
issuance of revenue bonds for the purpose of financing the
cost and expense of: (i) additions to and improvements of
its hospital facilities as more particularly described in
said Application; and (ii) the refinancing of certain
outstanding obligations of said Sisters of Charity Hospital;
and
WHEREAS, the Application was reviewed and the plan
of financing was found to comply with the spirit, intent and
provisions of the Ordinance, as amended, and the city
determined to proceed with the financing; and
WHEREAS, the refinancing of certain outstanding
obligations of said sisters of Charity Hospital was accom-
plished in a different manner and the final financing
furnished funds for additions to and improvements of its
hospital facilities; and
WHEREAS, for the above purpose, the City issued
its $29,900,000 city of San Bernardino, California, SCH
Health Care System Revenue Bonds (Sisters of Charity of the
Incarnate Word, Houston, Texas) Series 1983A (the "Bonds,
Series 1983A") and the same are presently outstanding; and
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WHEREAS, the sisters of Charity Hospital has
requested that the City participate in a refunding of the
outstanding Bonds, Series 1983A, through the issuance of its
City of San Bernardino, California, SCH Health System
Revenue Bonds (Sisters of Charity of the Incarnate Word,
Houston, Texas) Series 1987A (the "Bonds, Series 1987A");
and
WHEREAS, Ordinance No. 3815, as amended, provides
for such a refunding; and
WHEREAS, the Internal Revenue Code of 1986 (the
"Code") requires that the issuance of the Bonds, Series
1987A be approved by an elected representative of the city
after a public hearing; and
WHEREAS, the City Clerk has caused notice of such
Hearing to be published once (giving at least fourteen days'
notice) and has reported to the Mayor and Common council
that such notice has been duly and regularly given; and
WHEREAS, the subject matter of the Hearing was the
proposed assistance by the City of the refunding of the
Bonds, Series 1983A, in an amount not to exceed $40,000,000;
and
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WHEREAS, on the date and at the time and place
stated in said Notice, the refunding of the Bonds, Series
1983A was presented, and any and all persons who so desired
appeared and were heard, and the Mayor and Common Council of
the city of San Bernardino is fully informed in the
premises.
NOW, THEREFORE, THE MAYOR AND COMMON COUNCIL OF
THE CITY OF SAN BERNARDINO DO HEREBY FIND, RESOLVE, DETER-
MINE AND ORDER AS FOLLOWS:
Section 1. The recitals set forth hereinabove are
true and correct in all respects.
Section 2. The city has determined and hereby
redetermines that the project proposed by sisters of Charity
Hospital for which the Bonds, Series 1983A, were issued, is
in compliance with the purposes of the Ordinance and with
the criteria established pursuant thereto and further
determines that the sisters of Charity Hospital provides
necessary medical care and services to the citizens of the
City and is an essential part of the City'S health care
delivery system and the undertaking of such project by the
City will be a substantial factor in the ability of the
sisters of Charity Hospital to provide such necessary
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services and to contain the cost of such services. Without
limiting the generality of the foregoing, reference is
particularly made to subsection U of Section 1 of the
Ordinance and to the extensive review of the health care
facilities servicing the city and its inhabitants which was
made by the Mayor and Common Council as the basis for the
adoption of Resolution No. 80-481. The project proposed by
Sisters of Charity Hospital is in compliance with the
purposes of the Ordinance and with the criteria established
pursuant to thereto.
Section 3. The issuance by the city of the Bonds,
Series 1987A in an amount not to exceed $40,000,000 is
hereby approved. The Mayor is hereby authorized and
directed to execute this Resolution pursuant to said
Internal Revenue Code of 1986.
Section 4. The city's obligations hereunder are
on a 'non-recourse' basis, and payment of any amounts which
are owed or may become due hereunder shall not be enforced
against the City or any of its public officials, officers,
employees, agents, or other personnel, but only against the
property pledged as security for the Bonds, Series 1987A.
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Section 5. The Bonds shall be special obligations
of the city and shall not be deemed to constitute a debt or
liability of the City or a pledge of the faith and credit of
the City, but shall be payable solely from the payments
received under the terms of the loan agreement, executed in
connection with the issuance of the Bonds, Series 1987A.
The Issuance of such Bonds shall not directly or indirectly
or contingently obligate the city to levy or pledge any form
of taxation whatsoever therefor or to make any appropriation
for their payment.
Section 6. This Resolution shall take effect
immediately upon adoption.
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I HEREBY CERTIFY that the foregoing resolution was
duly adopted by the Mayor and Common Council of the city of
San Bernardino at a regular meeting thereof, held on the
19th day of
to wit:
January
, 19~, by the following vote,
AYES:
Councilmen Estrada, Reilly, Hernandez,
Frazier
NOES:
None
ABSENT:
None
ABSTAIN:
Council Members Quiel, Strickler
~Ad~4I/
/ CJ.ty Clerk
The foregoing resolution is hereby approved
pursuant to the Internal Revenue Code of 1986 as of this
c2>ei.. day of
1987.
January
M
Approved as ~
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city Attorney
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