88-163RESOLUTION NO.
88R-163
A RESOLUTION APPROVING THE EXECUTION AND DELIVERY
OF AN INSTALLMENT PURCHASE AGREEMENT
FOR THE PURPOSE OF PROVIDING FINANCING AND REFINANCING
FOR CERTAIN HEALTH FACILITIES
RESOLVED, by the City Council of the City of
Anaheim, California, as follows:
WHEREAS, the City of Anaheim proposes the execution
and delivery of a Installment Purchase Agreement, dated as of
April 1, 1988, by and between Western Medical Center-Anaheim,
as seller, and the City, as purchaser (the "Agreement"), for
the purpose of providing financing and refinancing for certain
health facilities;
WHEREAS, Section 147(f) of the Internal Revenue Code
of 1986, as amended, requires the City Council of the City, as
the duly elected representative of the City, to approve the
execution and delivery of the Agreement after a public hearing
following reasonable notice;
WHEREAS, the City Council has, on the date hereof,
held a public hearing following duly published notice thereof,
and all persons desiring to be heard have been heard; and
WHEREAS, it is in the public interest and for the
public benefit that the City Council approve the execution and
delivery of the Agreement;
NOW, THEREFORE, it is hereby DETERMINED that the
execution and delivery of the Agreement in the maximum
aggregate principal amount of $28,000,000 is hereby approved
for the purpose of refinancing certain existing indebtedness
with respect to the acute care hospital located at 1025 South
Anaheim Boulevard, Anaheim, California and the financing and
refinancing of the cost of certain equipment, capital
improvements and capital expenses related to said acute care
hospital, the owner and operator of which hospital is Western
Medical Center-Anaheim, a nonprofit corporation as described
under section 501(c)(3) of the Internal Revenue Code of 1986,
as amended.
THE FOREGOING RESOLUTION is approved and adopted by
the City Council of the City of Anaheim this 19th day of
April, 1988.
MAYOR OF THE CITY OF ANAHEIM
CITY CLERK OF THE CITY OF ANAHEIM
CLERK
STATE OF CALIF0~WIA )
COUNTY OF ORANGE ) ss.
CiTf OF ANAHEIM )
I, ~EONORA N. SOHL, City Cler~ of the City o~ Anaueim, do hereby certify that
the foregoing Resolution No. 8gR-16J was introduced and adopted at a regular
meeting provided by ±aw, of the City Council of the City of Anaheim held on
the ]9th day of April, 19gg, by the following vote of the members t[mreof:
AYES:
COUNCIL ~LEMBERS: Ehrle, Hunter, Kaywood, Pickler and Bay
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: None
AND ± FURTHER certify titat the Mayor of the City of Anaheim signed said
Resolution No. ggR-lO3 on the 20th day of April, 1988.
iN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of the
City of Anaheim this 2Otb day of April, 1988.
(SEAL)
i, LEONORA N. SOHo, City Clerk of the City of Anaheim, do hereby certify that
t~e foregoing is the original of Resolution No. 88R-163 duly passed and
adopted by the Anaheim City Council on April 19, 19gg.
CITY CLERK OF THE CITY OF ANAHEIM