RES-2024-120RESOLUTION NO. 2 0 2 4 -12 0
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ANAHEIM
APPROVING THE ISSUANCE OF REVENUE BONDS PURSUANT TO A
PLAN OF FINANCE BY THE CALIFORNIA ENTERPRISE
DEVELOPMENT AUTHORITY IN AN AGGREGATE PRINCIPAL
AMOUNT NOT TO EXCEED $37,000,000 FOR THE PURPOSE OF
FINANCING AND REFINANCING THE COST OF THE ACQUISITION,
CONSTRUCTION, RENOVATION, EQUIPPING AND FURNISHING OF
CERTAIN HEALTHCARE FACILITIES FOR THE BENEFIT OF
BENEVOLENCE INDUSTRIES INCORPORATED AND/OR A RELATED
OR SUCCESSOR ENTITY, PROVIDING THE TERMS AND
CONDITIONS FOR SUCH BONDS, AND OTHER MATTERS RELATING
THERETO
WHEREAS, Benevolence Industries Incorporated, d/b/a Benevolence Health Centers, or
a related or successor entity (the "Borrower"), has requested that the California Enterprise
Development Authority (the "Authority") facilitate the issuance of revenue bonds in an aggregate
principal amount not to exceed $37,000,000 (the "Bonds"), the proceeds of which are to be loaned
to the Borrower for the purpose of: (a) financing and/or refinancing the cost of acquisition,
construction, renovation, equipping and furnishing of certain healthcare and ancillary facilities
located at (i) 1010 Crenshaw Boulevard, Suite 100, Torrance, California 90501, consisting of
approximately 15,106 square feet, (ii) 303 North East Street, Anaheim, California 92805,
consisting of approximately 2,365 square feet (the "Anaheim Facility"), (iii) 1126 East South
Street, Long Beach, California 90805, consisting of approximately 4,330 square feet, (iv) 505-515
North Arrowhead Avenue, San Bernardino, California 92401, consisting of approximately 58,160
square feet, (v) 3631 Crenshaw Boulevard, Suite 109, Los Angeles, California 90016, consisting
of approximately 15,000 square feet, and (vi) 12610 Glenoaks Boulevard (also known as 14040
Hubbard Street), Sylmar, California 91342 consisting of approximately 9,786 square feet
(collectively with the Anaheim Facility, the "Facilities"), (b) fund a debt service reserve fund,
working capital and capitalized interest with respect to the Bonds; and (c) pay certain costs of
issuance and other related costs in connection with the issuance of the Bonds; and
WHEREAS, the Borrower, a California nonprofit public benefit corporation and an
organization described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended
(the "Code"), owns and operates the Facilities in connection with its mission of providing quality
health care and excellent educational programs to the under -served and uninsured in Southern
California; and
WHEREAS, the issuance of the Bonds by the Authority must be approved by a
governmental unit having jurisdiction over the territorial limits in which the Facilities are located
pursuant to the public approval requirement of Section 147(f) of the Code; and
WHEREAS, the Anaheim Facility is located within the territorial limits of the City, and the
City Council (the "Council") is an elected legislative body of the City; and
WHEREAS, the Authority and the Borrower have requested that the Council approve the
issuance of the Bonds and the financing of the Anaheim Facility with the proceeds of the Bonds for
purposes of complying with Section 147(f) of the Code and the Joint Exercise of Powers Act,
comprising Articles 1, 2, 3, and 4 of Chapter 5 of Division 7 of Title 1 (commencing with Section
6500) of the Government Code of the State of California (the "Act"); and
WHEREAS, a public hearing was held by the Council on the 131' day of November, 2024,
at Anaheim City Hall, following duly published notice thereof in a newspaper of general circulation
in Orange County, and all persons desiring to be heard have been heard; and
WHEREAS, it is intended that this Resolution shall comply with the public approval
requirements of Section 147(f) of the Code; provided, however, that this Resolution is neither
intended to nor shall it constitute an approval by the Council of the Facilities for any other purpose,
including, but not limited to, compliance with the California Environmental Quality Act (California
Public Resources Code, Section 21100, et seq.) ("CEQA");
NOW, THEREFORE, BE IT RESOLVED, DETERMINED AND ORDERED by the
City Council of the City of Anaheim, State of California as follows:
Section 1. On information and belief, the foregoing resolutions are true and correct.
Section 2. The Council hereby approves the issuance of the Bonds by the Authority, from
time to time, pursuant to a plan of finance, which Bonds may be tax-exempt and/or taxable as
approved by the Authority in its resolution, in an amount not to exceed $37,000,000 to finance and
refinance the cost of the acquisition, construction, renovation, furnishing, and equipping of the
Facilities and pay the costs of issuance of the Bonds. This resolution shall constitute approval of the
issuance of the Bonds within the meaning of Section 147(f) of the Code and for purposes of the Act.
Section 3. The issuance of the Bonds shall be subject to the approval by the Authority of all
documents relating thereto to which the Authority is a party. The City shall have no responsibility
or liability whatsoever with respect to the Bonds.
Section 4. 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 transaction approved.
Section 5. The adoption of this Resolution shall not obligate the City or any department
thereof to (a) provide any financing with respect to the Facilities; (b) approve any application or
request for or take any other action in connection with any planning approval, permit, or other action
necessary with respect to the Facilities; (c) make any contribution or advance any funds whatsoever
to the Authority or the Borrower; or (d) take any further action with respect to the Authority or its
membership therein.
Section 6. The City Clerk is hereby directed to forward a certified copy of this Resolution
to Bond Counsel, addressed as follows:
Jessica I. Shaham, Esq.
Kutak Rock LLP
777 South Figueroa Street, Suite 4550
Los Angeles, California 90017
Section 7. This Resolution shall take effect from and after its adoption.
THE FOREGOING RESOLUTION IS PASSED, APPROVED, AND ADOPTED by the
City Council of the City of Anaheim this 13ffi day of November, 2024, by the following roll call
vote:
AYES: Mayor Aitken and Council Members Kurtz, Diaz,
Leon, Rubalcava, Faessel and Meeks
NOES: None
ABSTAIN: None
ABSENT: None
CITY OF ANAHEIM
MAYOR OF t.4 CITY OF ANAHEIM
ATTEST:
1 LERK OF THE CITY OF ANAHEIM
CLERK'S CERTIFICATE
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss.
CITY OF ANAHEIM )
I, THERESA BASS, City Clerk of the City of Anaheim, do hereby certify that the foregoing is the
original Resolution No. 2024-120 adopted at a regular meeting provided by law, of the Anaheim
City Council held on the 13! day of November. 2024 by the following vote of the members thereof:
AYES: Mayor Aitken and Council Members Kurtz, Diaz, Leon, Rubalcava,
Faessel and Meeks
NOES: None
ABSTAIN: None
ABSENT: None
IN WITNESS WHEREOF, I have hereunto set my hand this 18th day of November, 2024.
CL RV OF THE CITY OF ANAHEIM
(SEAL)