93-077 CITY OF ANAHEIM, CALIFORNIA
RESOLUTION NO. 93R- 77
RESOLUTION APPROVING AN INSTALLMENT PURCHASE
FINANCIN~ TO BE UNDERTAKEN BY THE CALIFORNIA
STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY TO
BENEFIT MARTIN LUTHER HOSPITAL.
RESOLVED, by the City of Anaheim (the "City"), as
follows:
WHEREAS, Martin Luther Hospital, a California nonprofit
public benefit corporation (the "Corporation"), has requested that
the California Statewide Communities Development Authority (the
"Issuer") participate in an installment purchase financing (the
"Financing") to finance and refinance certain acquisition,
construction, rehabilitation, remodeling and other capital projects
with respect to certain health care facilities including the acute
hospital facility (the "Anaheim Facility") located within the City
which is owned and operated by the Corporation; and
WHEREAS, in connection with the Financing, the Issuer,
the Corporation and certain of the Corporation'e affiliated
entities (the "Related Corporations") will enter into an
installment purchase agreement (the "Purchase Agreement") under
which the Corporation and the Related Corporations will sell
certain real property to the Issuer and the Issuer will agree to
make payments (the "Installment Payments") to the Corporation and
the Related Corporations for the purchase thereof; and
WHEREAS, certificates of participation (the
"Certificates") in an aggregate principal amount not to exceed Two
Hundred Eighty Million Dollars ($280,000,000.00), each representing
a proportionate undivided interest in the Installment Payments,
will be executed, delivered and sold in connection with the
Financing; and
WHEREAS, pursuant to Section 147(f) of the Internal
Revenue Code of 1986 (the "Code"), the Financing and the issuance
of the Purchase Agreement by the Issuer must be approved by the
City because the Anaheim Facility is 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
Financing and the issuance of the Purchase Agreement under Section
147(f) of the Code; and
WHEREAS, the Issuer has requested that the City Council
approve the Financing and the issuance of the Purchase Agreement in
order to satisfy the public approval requirement of Section 147(f)
of the Code and the requirements of Section 9 of the Joint Exercise
of Powers Agreement (the "Agreement"), dated as of June 1, 1988,
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 Financing and the issuance of the Purchase Agreement,
and now desires to approve the Financing and the issuance of the
Purchase Agreement.
NOW, THEREFORE, it is hereby ORDERED AND DETERMINED as
follows:
Section 1. The City Council hereby approves the
Financing and the issuance of the Purchase Agreement. It is the
purpose and intent of the City Council that this resolution
constitute approval of the Financing and the issuance of the
Purchase Agreement (and the execution and delivery of the
certificates of participation related thereto) 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 Anaheim Facility is 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 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 by the City Council, and the city Clerk shall
certify to the vote adopting this re~olution.
Section 4. The City Clerk shall forward a certified copy
of this Resolution to the following:
Michael Newman, Esq.
O'Melveny & Myers
400 South Hope Street
Los Angeles, California 90071
LA1~14188.1 2
The FOREGOING RESOL~ION was approved and adopted by the
City Council of the City of Anaheim this 11th day of May, 1993, by
the following vote:
Attest:
CITY CLE~ OF THE CITY OF ~EIM
3
STATE OF CALIFORNIA )
ORANGE COUNTY )
CITY OF ANAHEIM )
I, LEONORA N. SOHL, City Clerk of the City of Anaheim, do
hereby certify that the foregoing Resolution No. 93R- 77 was
introduced and adopted at a regular meeting provided by law of the
City Council of the City of Anaheim held on the 11th day of May,
1993, by the following vote of the members thereof:
AYES: COUNCIL MEMBERS: Feldhaus, Hunter, Pickler~ Simpson, Daly
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: None
AND I FURTHER CERTIFY that the Mayor of the City of
Anaheim signed said Resolution No. 93R-77 on the 12th day of
May , 1993 .
IN WITNESS WHEREOF, I have hereunto set my hand and
affixed the official seal of the City of Anaheim this 12th
day of May , 1993.
CITY CLERK OF THE CITY OF ANAHEIM
(SEAL)
I, LEONORAN. SOHL, City Clerk of the City of Anaheim, do
hereby certify that the foregoing is the original of Resolution
No. 93R- 77 duly passed and adopted by the Anaheim City Council on
May 11, 1993.
CITY CLERK OF THE CITY OF ANAHEIM