RES-9787 Approval of Tax Exempt Bond FinancingRESOLUTION :"10. 9787
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF ORANGE APPROVING A TAX-
EXEMPT BOND FINANCING TO BE ISSUED BY
THE CALIFORNIA STATEWIDE
COMMUNITIES DEVELOPMENT AUTHORITY TO BENEFIT
ST.JOSEPH HEAL TH SYSTEM AND
CERTAJN
AFFILIATES WHEREAS, St. Joseph Health System, St. Joseph Hospital Orange and certain
other affiliates of St. Joseph Health System, each a nonprofit public benefit corporation (collectively,the Health Institutions), have requested that the California Statewide
Communities Development Authority (the Authority) issue bonds in one or more series in anaggregateprincipalamountnottoexceed $300,000,000 (the Bonds) for the purpose of, among
other things, refinancing the acquisition, improvement and equipping (the Financing) ofcertainhealthfacilitiesownedoroperatedbySt. Joseph Hospital Orange and St. Joseph HealthSystemtheFacilities) located in the City of Orange (the
City);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 ,he City becausetheFacilitiesarelocatedwithintheterritoriallimitsofthe
City;WHEREAS, the City Council of the City (the Council) is the elected legislativebodyoftheCityandisoneoftheapplicableelectedrepresentativesrequiredtoapprovetheissuanceoftheBondsunderSection147(f) of the
Code;WHEREAS, the Authority has requested that the Council approve the issuance oftheBondsbytheAuthorityinordertosatisfythepublicapprovalrequirementofSection147(f) of the Code and the requirements of Section 9 of the Amended and Restat,:d Joint Exercise
of Powers Agreement, dated as of June I, 1988 (the Agreement), among ceJiain localagencies,including the City;
and WHEREAS, pursuant to Section 147(f) of the Code, the Council has, followingnoticedulygiven, 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 ITRESOL'VED, by the City Council ofthe City ofOrangeas
follows:Section 1. The Council hereby approves the issuance of the Bonds by the Authority. It is the purpose and intent of tbe Council that this Resolution constitute approval of tbeissuanceoftheBondsbytheAuthority, for the purposes of (a) Section ]47(f) of the Code by
the applicable elected representative of the governmental unit having jurisdiction over the area
in
which the Facilities are to be located, in accordance with said Section 147(f) and (b) Section 9
of the Agr'~ement.
Seetion 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 which 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.
Se,:tion 3. This Resolution shall take effect immediately upon its adoption.
ADOPTED this 25th day of November, 2003.
1kl
Mark A. Murphy, Ma or ity of Orange
ATTEST::
I..
r., '.
I (? tel .... ~' "'-)'7'" 7'1Cassandra1':
ttthcart, City Clerl<;-- . lty of Orange I, CASSANDRA
J. CATHCART, 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 25th day of November, 2003, by the following
vote:AYES:NOES:
ABSENT:
ABSTAIN:
COUNCILMEMBERS:
Ambriz,
Alvarez, Murphy, Coontz, Cavecche COUNCILMEMBERS: None
COUNCILMEMBERS: None
COUNCILMEMBERS: None
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CassandraJ.C21thcart, City Clerk; -ity
of Orange 2