HomeMy WebLinkAboutResolution 3276-11-2005• Resolution No. 3276-11-2005
RESOLUTION APPROVING THE FINANCING BY THE
MESQUITE HEALTH FACILITIES DEVELOPMENT CORPORATION
OF A HEALTH FACILITY LOCATED WITHIN
THE CITY OF FORT WORTH, TEXAS
WHEREAS, the Health Facilities Development Act, Chapter 221 Texas Health and Safety Code
(the Act"), authorizes and empowers Mesquite Health Facilities Development Corporation (the `Issuer") to
issue revenue bonds in a maximum aggregate principal amount of $42,000,000 (the 'Bonds") on behalf of
the City of Mesquite, Texas (the `Issuing Unit") to finance and refinance 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 m furtherance of the public purposes of the Act;
and
WHEREAS, Section 221 030 of the Act provides that the Issuer may provide for the financing or
refinancing of one or more health facilities located outside the limits of the Issuing Umt with the consent of
each city county or hospital district within which such health facility is or is to be located, and
WHEREAS, Christian Care Centers, Inc. (the `User"), a nonprofit Texas corporation, proposed to
obtain financing and refinancing from a portion of the proceeds of the Issuer's bonds issued pursuant to the
Act for the costs of an expansion to certain health facilities consisting of 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 will consist of the construction and equipping of up to 70 additional
independent living units at Lakewood Village; and
WHEREAS, the Project will be located within the City of Fort Worth, Texas (the" City") and
outside the limits of the Issuing Unit;
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF FORT WORTH,
TEXAS THAT
Section 1 The City hereby consents to the financing by the Issuer of the Project for the purposes of
Section 221 030 of the Act and approves the Bonds and the Project for the purposes of Section 147(f) of the
Internal Revenue Code of 1986 provided that the City shall have no liability m connection with the
financing of the Project and shall not be required to take any further action with respect thereto
Section 2. This Resolution shall take effect immediately from and after its adoption and it is
accordingly so ordered.
PASSED AND APPROVED this the 15`b day of November 2005
•
Resolution No 3276-11 2005
RESOLUTION APPROVING THE FINANCING BY THE
MESQUITE HEALTH FACILITIES DEVELOPMENT CORPORATION
OF A HEALTH FACILITY LOCATED WITI~1
THE CITY OF FORT WORTTd; TEXAS
WHEREAS, the Health Facilities Development Act, Chapter 221, Texas Health and Safely Code (the
"Act"), authorizes and empowers Mesquite Health Facilities Development Corporation (the 'Issuer") to issue
revenue bonds in a maxii~!m aggregate principal amourd~ of $42,000,000 (the Bonds") on behalf of the City
of Mesquite, Texas (the 'Issuing Unit") to finance aad refinance 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,
a~ one or more, within the State of Texas and in furtherance of the public purposes of the Act; and
WHEREAS, Section 221 030 of the Act provides that the Issuer may provide for the financing or
refinancing of one or more health facilities located outsidethe limits of the Issuing Unit with the consent of each
city county or hospital district within which such health facility is or is to be located; and
WHEREAS, Christian Care Centers, Inc. (the "User"), a nonprofit Texas corporation, proposes to
obtain financing and refinancing from the Lssuer from a portion of the proceeds of the Issuer's bonds issued
pursuant to the Act 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'7; and
WHEREAS, the Project will consist of the construction and egtupping of up to 70 additional
independent living units ax Lakewood Village; and
WHEREAS, the Project will be located within the City of Fort Worth, Texas (the "City") and outside
the limits of the Issuing Unit;
NOW THEREFORE, BE TT RESOLVED BY THE CITY COUNCIL OF FORT WORTH; TEXAS
THAT
Section 1. The City hereby consents to the financing by the Issuer of the Project for the purposes of
Section 221.030 of the Act and approves the Bonds and the Project for the purposes of Section 147(f) of the
Infernal Revenue Code of 1986; provided that the City shall have no liability in connection with the financing
of the Project and shall not be required to take a~ further action with respect thereto.
Section 2. This Resolution shall take effect immediately from and after rte adoption and it is
accordingly so ordered.
PASSED AND APPROVED this the 15