HomeMy WebLinkAboutOrdinance 10145ORDINANCE NO. / -
AN ORDINANCE Off' THE CITY OF FORT WORTH, TEXAS, APPROVING
THE FINANCING BY THE KIRBYVILLE HEALTH FACILITIES DEVELOP-
MENT CORPORATION OF A HEALTH FACILITY LOCATED WITHIN THE
CITY OF FORT WORTH, TEXAS.
s'f i
WHEREAS, the Health Facilities Development Act, Article 1528j,
Vernon's Annotated Texas Civil Statutes, as amended (the "Act"),
authorizes and empowers the Kirbyville Health Facilities Development
Corporation (the "Issuer") to issue revenue bonds on behalf of
Kirbyville, Texas (the "Issuing Unit"), to finance the costs of
health facilities found by the Board of Directors of the Issuer to
be required, necessary or convenient for health care, research and
education, any one or more, within the State of Texas and in fur-
therance of the public purposes of the Act; and
WHEREAS, Section 4.01(1) of the Act provides that the Issuer
may provide for the financing of one or more health facilities
located outside the limits of the Issuing Unit with the consent of
every other city, county or hospital district within which such
health facility is or is to be located; and
WHEREAS, Heartway-III Corporation proposes to obtain financing
from the Issuer from a portion of the proceeds of the Issuer's bonds
issued pursuant to the Act for the costs of the health facility
described in Exhibit "A" hereto (the "Project"); and
WHEREAS, the Project is or is to be located within the City of
Fort Worth, Texas (the "City") and outside the limits of the Issuing
Unit;
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NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF FORT WORTH, TEXAS:
SECTION 1.
That the City hereby consents to the financing by the Issuer of
the Project as required by Section 4.01(1) of the Act.
SECTION 2.
That this ordinance shall take effect immediately from and
after its adoption, and it is accordingly so ordered.
APPROVED AS TO FORM AND LEGALITY:
City At'
ADOPTED
EFFECTI
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Z-87-139 THENCE along said non-tangent curve to the left through a central
(Cont.) angle of 25° 46' 12" an arc distance of 134.93 feet to a point, said
point being the beginning of a reverse curve to the right whose
radius i s 350.00 feet and whose 1 ong chord bears South 23° 20' 13"
East, 274.96 feet,
THENCE along said reverse curve to the right through a central angle
of 46° 15' 26" an arc distance of 282.57 feet to a point,
THENCE South 00° 12' 30" East a distance of 260.00 feet to a point,
THENCE North 89° 47' 30" East a distance of 30.00 feet to a point;
THENCE South 00° 12' 30" East a distance of 155.00 feet to a point,
THENCE South 89° 47' 30" West a distance of 330.00 feet to a point,
THENCE South 00° 21' 30" East a distance of 30.00 feet to a point;
THENCE South 89° 38' 30" West a distance of 155.00 feet to a point,
THENCE North 00° 21' 30" West a distance of 30.00 feet to a point;
THENCE .South 89° 56' 00" West a distance of 1,130.00 feet to a point,
said point being the beginning of anon-tangent cu rve to the 1 eft
whose radius is 730.00 feet and whose long chord bears North 10° 14'
38" East, 261.10 feet,
THENCE along sai d non-tangent curve to the 1 eft through a central
angle of 20° 36' 15" an arc distance of 262.52 feet to a point,
THENCE North 00° 03' 30" West a distance of 520.44 feet to the POINT
OF BEGINNING of the herein described tract and containing 27.20
acres, more or less.
(East of County Road #1067 and South of Risinger Road)
From "B" Two-Family to "I" Light Industrial
Z-87-141 Lots 1A-12, Block 3; and Lots 1-21, Block 4, all of Hulen Estates
Addition
(4300-4380 Hulen Circle East, and 4312-4340 Columbus Trail)
From "F" Commercial to "B" Two-Family
Z-87-142 TRACT 1
BEING 938 square feet of land situated in the John Heath Survey, Abstract
No. 641 and being a portion of a tract of land as recorded in Volume 2929,
Page 102, D.R.T.C.T. Said 938 square foot easement for billboard being
further described by metes and bounds as follows,
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pity of 'Fort 'worth, texas
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DATE REFERENCE SUBJECT CONSENT TO ISSUANCE OF REVENUE B NDS PAGE
7-26-88 NUMBER
G-7654 gY KIRBYVILLE HEALTH FACILITIES tot 1
Recommendation•
It is -recommended that City Council adopt the attached ordinance consenting to
the issuance by the Kirbyville Health Facilities Development Corporation of
its Texas Fixed Rate Health Facilities Development Revenue Bonds, Series
1988A
Background
The Kirbyville Health Facilities Development Corporation (the "Issuer")
proposes, on behalf of Kirbyville, Texas, to issue its Texas Fixed Rate Health
Facilities Financing Program II Health Facilities Development Revenue Bonds,
Series 1988A (Heartway-III Corporation Project) (the "Bonds") pursuant to the
Texas Health Facilities Development Act, Article 1528j, Vernon's Annotated
TexasvCivil Statutes, as amended (the "Act"), to provide funds to finance the
acquisition of health facilities in numerous different locations throughout
the State of Texas for the benefit of Heartway-III Corporation, a Texas
nonprofit corporation ("Heartway"). The acquisition of such health facilities
is proposed to be financed through one bond issue, rather than through
numerous bond issues through issuers in each particular locality, because a
single bond issue is simpler, more efficient and more cost effective than
multiple issues.
Section 4 01(1) of the Act requires that for any health facilities to be
financed with Bond proceeds which are or are to be located outside Kirbyville,
Texas, the Issuer must obtain the consent to such financing of each city,
county and hospital district within which such health facilities are or are to
be located
Heartway has requested the Issuer to finance the following health facilities
(the "Project"), which are located within the jurisdiction of the City of Fort
Worth (the "City")
The acquisition of approximately 1.75 acres of land and the
acquisition of an approximately 98-bed intermediate care facility
which will result from the renovation and expansion of the
approximately 69-bed facility currently located at 5000 East
Lancaster, Fort Worth, Texas
Therefore, pursuant to Section 4 01(1) of the Act, the consent of the City
Council of the City is required prior to the financing of the Project with
Bond proceeds. This consent is requested solely for the purposes of
satisfying Section 4.01(1) of the Act and to enable the Issuer to proceed with
the proposed financing of the Project with Bond proceeds, such consent in no
way imposes any payment or other obligations on the City in connection with
the
financing. AP.PRQVED B
' ~
SUBMITTE~FOR THE
CITY MANAGER'S
nFFICE BY David Ivor DISPOSITION BY COUNCIL:
^ APPROVED PROCESSED BY
ORIGINATING ^ OTHER (DESCRIBE) ~~~ tie ~~~
DEPARTMENT HEAD Wade Adki nS CITY SECRETARt
FOR ADDITIONAL INFORMATION
CONTACT W, Adkins 7605 Adopted Ordinance No. /0/ ~
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City f3eaietaxp of tho
L`ity of Fart 1JYostls, TixcPA