Res 168-97 11/4/1997RESOLUTION NO.
RESOLUTION APPROVING THE ISSUANCE OF REVENUE BONDS BY
THE CITY OF TATUM, TEXAS HEALTH FACILITIES DEVELOPMENT
CORPORATION TO FINANCE AND /OR REFINANCE A HEALTH
FACILITY FOR THE TEXHOMA CHRISTIAN CARE, INC., LOCATED
WITHIN THE CITY LIMITS OF THE CITY OF WICHITA FALLS, TEXAS;
FINDING AND DETERMINING THAT THE MEETING AT WHICH THIS
RESOLUTION WAS PASSED WAS OPEN TO THE PUBLIC AS
REQUIRED BY LAW.
WHEREAS, the City of Tatum, Texas (the "Sponsor"), has previously approved
and authorized the creation of the City of Tatum, Texas Health Facilities Development
Corporation (the "Corporation ") as a Texas nonprofit corporation, pursuant to Chapter
221, Health & Safety Code, as amended (the "Act'); and
WHEREAS, the Corporation is authorized by the Act to finance and /or refinance
the costs of equipment for health facilities; and
WHEREAS, the Corporation may finance such medical facilities located within and
not within the City limits of the Sponsor; and
WHEREAS, the Texhoma Christian Care Center, Inc. (the "Borrower") has
requested the Corporation to issue revenue bonds to finance and /or refinance the costs
of medical facilities (the "Project') located outside the City limits of the Sponsor and
within the city limits of the City of Wichita Falls, Texas (the "City'); and
WHEREAS, Section 147 (f) of the Internal Revenue Code of 1986, as amended
(the "Code ") and the Act require that the highest elected official of the city in which the
Project is located approve the issuance of the bonds; and
WHEREAS, the Mayor as the highest elected official of the Unit intends to
approve the issuance of the bonds and the plan of financing on behalf of the City; and
WHEREAS, it is hereby deemed necessary and advisable that this Resolution be
adopted.
THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
WICHITA FALLS, TEXAS THAT:
Section 1. APPROVING THE ISSUANCE OF THE BONDS. In order to satisfy
the requirements of the Act and Section 147 (f) of the Code, the City hereby approves
the issuance of the bonds by the Corporation.
Section 2. INCORPORATION OF RECITALS. The City Council of the City (the
"City Council') hereby finds that the statements set forth in the recitals of this Resolution
are true and correct, and the City Council hereby incorporates such recitals as a part of
this Resolution.
Section 3. EFFECTIVE DATE. This resolution shall become effective
immediately upon its adoption.
PASSED AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF WICHITA
FALLS, TEXAS ON THE 4TH DAY OF NOVEMBER, 1997.
i
MAY R
ATTEST:
City Clerk