HomeMy WebLinkAbout98-083 - Resolutions RESOLUTION NO. 98-083
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
RANCHO CUCAMONGA, CALIFORNIA, REGARDING THE
HOLDING OF A PUBLIC HEARING IN CONNECTION WITH THE
ISSUANCE AND DELIVERY OF CERTIFICATES OF
PARTICIPATION BY THE DESERT HOT SPRINGS PUBLIC
FINANCING AUTHORITY TO FINANCE THE PROJECT FOR
HERITAGE HOSPITAL
WHEREAS, to finance the refunding of previously issued revenue bonds, the
repayment of subordinated notes, the acquisition, construction and equipping of a new building to
include approximately 120 new beds for skilled nursing and acute psychiatric care and the
renovation, improving and equipping of the existing facility located within the boundaries of the City
of Rancho Cucamonga (the "Project"), the Desert Hot Springs Public Financing Authority (the
"Authority") has expressed its intent to issue certain certificates of participation in the aggregate
principal amount not to exceed $40,000,000 the" Certificates"); and
WHEREAS, this City Council is the elected legislative body of the City of Rancho
Cucamonga (the "City"); and
WHEREAS, in accordance with Section 147(f) of the Internal Revenue Code of
1986, as amended (the "Code"), the City Clerk provided for the timely publication of a Notice of
Public Hearing, to the effect that a public hearing would be held by this City Council on May 6,
1998, regarding the issuance of the Certificates by the Authority and the nature and the location
of the Project.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF RANCHO
CUCAMONGA DOES RESOLVE AS FOLLOWS:
SECTION 1. This City Council does hereby find and declare that the above
recitals are true and correct.
SECTION 2. Pursuant to Section 147(0 of the Code, this City Council held public
hearing on this day and provided an opportunity to present
arguments both for and against the issuance of the Certificates and
the nature and location of the Project. This City Council has further
considered all testimony and comments submitted in connection with
the issuance of the Certificates and the nature and location of the
Project at the public hearing.
SECTION 3. After consideration of comments received at the public hearing, the
City Council of the City hereby approves the issuance of the
Certificates by the Authority and the operation of the Authority within
the City to provide financing for the Project.
Resolution No. 98-083
Page 2
SECTION 4. It is the purpose and intent of the City that this Resolution constitute
approval by the applicable elected representative in accordance with
the terms of Section 147(f) of the Code.
SECTION 5. This Resolution shall take effect from and after the date of its
passage and adoption.
SECTION 6. The City Clerk shall certify to the adoption of this Resolution.
PASSED, APPROVED, AND ADOPTED this 6th day of May, 1998.
AYES: Alexander, Curatalo, Williams
NOES: None
ABSENT: Biane
ABSTAINED: None
William J. Alexander, Mayor
ATTEST:
Debra J. Adar~/CMC, City Clerk
I, DEBRA J. ADAMS, CITY CLERK of the City of Rancho Cucamonga, California,
do hereby certify that the foregoing Resolution was duly passed, approved and adopted by the City
Council of the City of Rancho Cucamonga, California, at a regular meeting of said City Council held
on the 6th day of May, 1998.
Executed this 7th day of May, 1998, at Rancho Cucamonga, California.
Debra J. Adams, CMC, City Clerk