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Home My WebLink AboutResolution 4565-01-2016 A Resolution NO. 4565-01-2016 RESOLUTION APPROVING, FOR PURPOSES OF SECTION 147(f) OF THE INTERNAL REVENUE CODE OF 1986, CERTAIN REFUNDING BONDS TO BE ISSUED BY THE MESQUITE HEALTH FACILITIES DEVELOPMENT CORPORATION FOR THE BENEFIT OF CHRISTIAN CARE CENTERS, INC. WHEREAS, the Health Facilities Development Act, Chapter 221, Texas Health and Safety Code (the "Act"), authorizes and empowers the Mesquite Health Facilities Development Corporation (the "Issuer") to issue revenue bonds on behalf of the City of Mesquite, Texas (the "Issuing Unit") to refinance the costs of health facilities found by the Issuer's Board of Directors to be required, necessary, or convenient for health care, research, and education, any one or more, within the State of Texas and in furtherance of the public purposes of the Act by refunding prior bonds issued for that purpose; and WHEREAS, in 2005, Issuer issued certain obligations for the benefit of Christian Care Centers, Inc. (the "User"), a Texas nonprofit corporation, with the proceeds of the obligations used for the costs of an expansion to certain health facilities consisting of a senior retirement community owned and operated by the User, located on 47 acres of land at 5100 Randol Mill Road in Fort Worth, Texas, and known as Lakewood Village (the "Project"); and WHEREAS, the Project consisted of the construction and equipping of up to 70 additional independent living units at Lakewood Village; and WHEREAS, the Project is located within the City of Fort Worth, Texas (the "City") and outside the limits of the Issuing Unit; and WHEREAS, by adoption of Resolution 3276-11-2005, the Fort Worth City Council consented to the Project as required by the Act and approved the 2005 obligations for purposes of section 147(f) of the Internal Revenue Code of 1986, as amended (the "Code"); and WHEREAS, the User has requested that the Issuer issue bonds to refund the outstanding 2005 obligations, with the refunding bonds to be issued in one or more series and to have an aggregate principal amount not to exceed $32,000,000 (the "Bonds"); and WHEREAS, pursuant to Section 147(f) of the Code, the Issuer caused to be published a notice of a public hearing with respect to the issuance of the Bonds and the financing and refinancing of the Project and, after reasonable notice, held such a hearing on January 12, 2016 (the "TEFRA Hearing"); and --T�m ORTWORT Resolution 4565-01-2016 WHEREAS, pursuant to the provisions of Section 147(f) of the Code, the City Council of Fort Worth, Texas, must, after the TEFRA Hearing, approve issuance of the Bonds by the Issuer to enable the Bonds to qualify as tax-exempt obligations under the Code. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS THAT: Section 1. The City Council, solely for the purposes of section 147(f) of the Code, as the elected legislative body having jurisdiction over the area in which the facilities proposed to be financed and refinanced are located, hereby approves the proposed issuance of the Bonds by the Issuer to refinance the 2005 obligations for the benefit of the User, in an amount not to exceed $32,000,000. Section 2. The foregoing approval is given in accordance with the provisions of section 147(f) of the Code and for no other purposes and is not to be construed as an undertaking by the City of Fort Worth. The Bonds shall not constitute a liability, indebtedness, or an obligation of the City of Fort Worth, nor shall any of the assets of the City of Fort Worth be pledged to the payment of the Bonds. Section 3. This resolution shall take effect immediately from and after its passage in accordance with the provisions of the Charter of the City of Fort Worth, and it is accordingly so resolved. PASSED AND APPROVED, this January 26, 2016. etsy Price, Mayo APPROVED AS TO FORM AND LEGALITY: By: Sara h J. F ul nwider, City Attorney -,,#, m ATTEST: � a , t By: ary J. Va , Cj Secretary ORT ORT MINUTES OF PUBLIC HEARING Mesquite Health Facilities Development Corporation Re: Mesquite Health Facilities Development Corporation Retirement Facility Revenue Bonds (Christian Care Centers,Inc.Project) The undersigned, Phil Elmore, designated Hearing Officer of Mesquite Health Facilities Development Corporation(the"Issuer"),the issuer of the above referenced Bonds(the"Bonds"),called the Public Hearing of the Issuer on January 12,2016 to order. I declared that a Public Hearing,required under Section 147(f)ofthe Internal Revenue Code of 1986 was open for purposes of discussing the Bonds and the project to be financed,refinanced or constructed with the proceeds of the Bonds(the"Project")by Christian Care Centers,Inc. I declared that the required notice of the Public Hearing for the Project was published in THE DALLAS MORNING NEWS,being newspapers of general circulation in the City ofMesquite,as evidenced by Affidavits of Publications attached hereto as Exhibit A. I proceeded to hold the Public Hearing. Comments and discussions with respect to the Bonds and the Project are summarized in Exhibit B, attached hereto. After sufficient time was given for all present to make their comments with respect to the Bonds and the Project,I declared the Public Hearing closed. Dated: January 12,2016 Phil Elmore,Hearing Officer Mesquite Health Facilities Development Corporation EXHIBIT A AFFIDAVIT OF PUBLICATION AFFIDAVIT OF PUBLICATION THE STATE OF TEXAS § COUNTY OF DALLAS § CITY OF DALLAS § BEFORE ME,a notary public in and for the above named County,on this day personally appeared the person whose name is subscribed below,who,having been duly sworn,says upon oath that he or she is a duly authorized officer or employee of THE DALLAS MORNING NEWS, (1) which is a newspaper of general circulation in the City of Mesquite,Texas; and(2)said newspaper is a"newspaper"as described in Sections 2051.044 and 2051.048 of the Texas Government Code; and that a true and correct copy of the NOTICE OF PUBLIC HEARING REGARDING THE ISSUANCE OF BONDS, a clipping of which is attached to this affidavit,was published in said Newspaper on 7zcetAl ey' 2015. Aut orized Offic r or mployee SUBSCRIBED AND SWORN TO BEFORE ME on the aT day of fk6epjl::xee ,2015. otai Public NOTARYSEAL JEREMY PHILLIP GAUNA i Notary Public,State of Texas My Commission Expires November 12,2018 - 'ou°"'moo=°an�.°°mo°y�o�,Z°ann-/'Dnmvo—nano mm on3yia�'n?��3vy�,°,A - �mo=n, oma wnyic �X°`�o.¢i-z,50 QOSa-m n-ON^mn� m °nQ-O��oo�a_°'•.n�-mi�m1pm n,Opm�A1Q`"°moN°—°=�y.".00°'C°mm°a�m�Qj�'<°m?a -•ozo-o'H_° �ooc^m�° o3 o.-._ Aso<Yv3n^_i;�Q°w°v �°o°'-n•(T<�om an'°aaa Nino 3T £`°�n anOr.�c�.f�fl= Zn - ,° 0 n n. ?o�D�ry= N Ip EXHIBIT B No member of the public attended the Public Hearing, and thus no comments were made or discussion had about the Project or the Bonds.