HomeMy WebLinkAboutResolution No. 1340 2048
RESOLUTION NO.,/,;.31
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DOWNEY
DECLARING ITS SUPPORT OF A CITY OF DOWNEY HOSPITAL
WHEREAS, the voters of the City of Downey at an election held on
October 29, 1963, approved the establishment of a City hospital by a
majority vote of approximately 70 %; and
WHEREAS, at said election the electorate voted approximately
621/2% in favor of General Obligation bonds, being only approximately
4% below the required two - thirds percent; and
WHEREAS, the City Council has explored other means of financing
the construction and operation of a community hospital, such as the
lease- finance program outlined in the Garrett report and private
financing; and
WHEREAS, the City Council is of the opinion that a City hospital
should be constructed and maintained in accordance with the majority
vote of the people; and
WHEREAS, the Garrett Hospital Feasibility Report conclusively
stated that a Downey community hospital could be financed entirely by
revenues from the hospital;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF DOWNEY DOES
RESOLVE AS FOLLOWS:
SECTION 1. That it is the intention and the desire of the City
Council that there be constructed within the City of Downey a municipal
hospital to be maintained and operated as a municipal hospital and it
further is the intent of said Council that there be explored such means
a5 may be available for financing the construction of such a hospital,
and hat the City Council will do all things necessary to effect the
t y g ry
financing of such a hospital with the intent that all the revenue nec`
essary for financing such hospital be derived from the facility itself.
SECTION 2. That present financial consultants have indicated the
Lease- financing arrangement method of financing a hospital might incur a
higher interest rate than that of General Obligation bonds.
It is, therefore, the intent of the City Council that in adopting
this Resolution they indicate their approval of proceeding under the
Lease-finance arrangement only if the voters at an election to be held
fail to approve a General Obligation bond issue to pay for the cost of
said hospital.
SECTION 3. That the City Clerk shall certify to the adoption of
this Resolution.
APPROVED AND ADOPTED this v da y of % / /-- r_..- - --A.J 1964.
�.. ayo r
ATTEST:
City CleF iC
2049
I HEREBY CERTIFY that the foregoing Resolution was adopted at a
regular meeting of the City Cou ncil of the City of Downey held on
the 9th day of March , 1964, by the affirmative vote
of at least Councilmen, to wit: r
✓ e
AYES: h Councilmen:; A ` � / �Z�`Z'/ r -�; - - �c-- /te. --6/
1 -' NOES: Councilmen:
ABSENT: Councilmen: r C
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City Clerk
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