HomeMy WebLinkAboutResolution No. 6556 RESOLUTION NO. 6556
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
DOWNEY APPROVING THE ISSUANCE OF REVENUE BONDS
BY THE CALIFORNIA STATEWIDE COMMUNITIES
DEVELOPMENT AUTHORITY TO BENEFIT KAISER
PERMANENTE
WHEREAS, Kaiser Foundation Hospitals, 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 principle amount not to exceed $525,000,000 (the "Bonds ") for the purpose
of, among other things, financing the acquisition, construction, improvement and
equipping of certain medical facilities known as the Kaiser Permanente Downey
Regional Pharmacy and Services owned and operated by the Corporation (the
"Facilities ") and located in the, City of Downey (the "City);and
WHEREAS, pursuant to Section 147 (f) of the Internal Revenue Code a ' 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
requirements 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, THE CITY COUNCIL OF THE CITY OF DOWNEY
DOES HEREBY RESOLVE AS FOLLOWS:
Section 1. The City Council hereby approves the issuance of the Bonds by the
Authority for the purposes of acquiring, improving and equipping 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 Section
147 (f) and (b) Section 9 of the Agreement.
RESOLUTION NO. 6556
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
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.
Section 3. This resolution shall take effect immediately upon its adoption.
Section 4. The City Clerk shall certify to the adoption of this Resolution. ----
PASSED, APPROVED AND ADOPTED this 9th day of April 2002.
I HEREBY CERTIFY that the foregoing Resolution was adopted by the City
Council of the City of Downey at a regular meeting held on the 9th day of April, 2002.
ME'EDITH ' . PERK NS, Mayor
ATTEST:
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KATHLEEN L . WILSTO(EKE , City Clerk
I HEREBY CERTIFY that the foregoing Resolution was adopted by the City
Council of the City of Downey at a regular meeting held on the 9th day of April, 2002, by
the following vote, to wit:
AYES: 5 Council Members: Cartozian, Trejo, Winningham, McCarthy, Perkins
NOES: 0 Council Members: None
ABSENT: 0 Council Members: None
ABSTAIN: 0 Council Members: No ne
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KATHLEEN L . M I DSTO KKE , City Clerk