RES-10170 Approving Issuance of Revenue Bonds to Benefit St. Joseph Health SystemRESOLUTION NO. 10170
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF ORANGE APPROVING THE ISSUANCE
OF REVENUE BONDS BY THE CALIFORNIA
STATEWIDE COMMUNITIES DEVELOPMENT
AUTHORITY TO BENEFIT ST. JOSEPH HEALTH
SYSTEM.
WHEREAS, St. Joseph Health System, a nonprofit public benefit corporation (the
Corporation), has requested that the California Statewide Communities Development Authority
the Authority) participate in the issuance of revenue bonds in an aggregate principal amount
not to exceed $495,075,000 (the Bonds) for the purpose of, among other things, financing
and/or refinancing the construction, expansion, remodeling, renovation, furnishing, equipping
or acquisition of certain medical facilities known as St. Joseph Hospital of Orange, and other
health care facilities related thereto, owned and operated by St. Joseph Hospital of Orange, an
affiliate of the Corporation (collectively, the Facilities), and located in the City of Orange (the
City); and
WHEREAS, pursuant to Section 147(f) of the Internal Revenue Code of 1986 (the
Code), the issuance of the Bonds by the Authority must be approved by the City because the
Facilities are located within the territorial limits of the City; and
WHEREAS, the City Council of the City (the City Council) is the elected legislative
body of the City and is one of the applicable elected representatives required to approve the
issuance of the Bonds under Section 147(f) of the Code; and
WHEREAS, the Authority has requested that the City Council approve the issuance of
the Bonds by the Authority in order to satisfy the public approval requirement of Section
147(f) of the Code and the requirements of Section 9 of the Amended and Restated Joint
Exercise of Powers Agreement, dated as of June 1, 1988 (the Agreement), among certain local
agencies, including the City; and
WHEREAS, pursuant to Section 147(f) of the Code, the City Council has, following
notice duly given, held a public hearing regarding the issuance of the Bonds, and now desires
to approve the issuance of the Bonds by the Authority;
NOW, THEREFORE, BE IT RESOLVED by the City Council ofthe City of Orange,
State of California, as follows:
Section 1. The City Council hereby approves the issuance of the Bonds by the
Authority for the purposes of financing and/or refinancing the construction, expansion,
remodeling, renovation, furnishing, equipping of the Facilities. It is the purpose and intent of
the City Council that this resolution constitute approval of the issuance of the Bonds by the
Authority for the purposes of (a) Section 147(f) of the Code by the applicable elected
representative of the governmental unit having jurisdiction over the area in which the Facilities
are located, in accordance with said Section 147(f), and (b) Section 9 of the Agreement.
Section 2. The officers of the City are hereby authorized and directed, jointly and
severally, to do any and all things and to execute and deliver any and all documents that they
deem necessary or advisable in order to carry out, give effect to and comply with the terms and
intent of this resolution and the financing transaction approved hereby.
Section 3. This resolution shall take effect immediately upon its adoption.
ADOPTED this 13th day of March, 2007
ATTEST:
Ci4~tL'L~
N1ary E. q;rP~, City Cl , I fOrange
I, MARY E. MURPHY, City Clerk of the City of Orange, California, do hereby certify
that the foregoing Resolution was duly and regularly adopted by the City Council of the City of
Orange at a regular meeting thereof held on the 13th day of March, 2007, by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
COUNCILMEMBERS: Smith, Murphy, Cavecche, Dumitru
COUNCILMEMBERS: None
COUNCILMEMBERS: None
COUNCILMEMBERS: Bilodeau
t~
Mary .
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