Res 050-87 3/26/1987RESOLUTION NO. . -.(/
RESOLUTION APPROVING WICHITA COUNTY - CITY OF WICHITA FALLS,
TEXAS, HOSPITAL BOARD HOSPITAL REVENUE REFUNDING BONDS (WICHITA
GENERAL HOSPITAL PROJECT) SERIES 1987 AND A SUPPLEMENT NO. ONE TO
MANAGEMENT CONTRACT AND LEASE AGREEMENT.
THE STATE OF TEXAS
COUNTY OF WICHITA
CITY OF WICHITA FALLS
WHEREAS, the Wichita County-City of Wichita Falls, Texas,
Hospital Board has informed the City Council of Wichita Falls, Texas,
that said Hospital Board intends to issue its Hospital Revenue
Refunding Bonds (Wichita General Hospital Project ) Series 1987 in the
amount not to exceed $24 ,000,000 for the purpose of refunding said
Hospital Board ' s outstanding Hospital Revenue Bonds (Wichita General
Hospital Project ) Series 1983; and ,
WHEREAS, pursuant to Section 8 of Article 4494i-1 , Vernon ' s
Annotated Texas Statues, the aforesaid Hospital Board is not
authorized to deliver any bonds unless the issuance thereof is
approved by resolutions adopted by the Commissioners Court of Wichita
County and the City Council of the City of Wichita Falls,
respectively,
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
WICHITA FALLS, TEXAS, THAT:
1 . The issuance of the bonds described in the preamble hereof
for the purposes therein described is hereby approved by the City,.
Council of the City of Wichita Falls, Texas.
2. The Supplement No . One to Management Contract and Lease
Agreement dated as of March 1 , 1987 and attached hereto is hereby
approved and the Mayor and City Clerk are hereby authorized to execute
and deliver such documents.
PASSED AND APPROVED THIS // h day of rch , 987.
f
M A Y O R
ATTEST:
A--1,,t4_,jc, ,‘,.,,„,_,_.dy
City Clerk
SUPPLEMENT NO. ONE
TO
MANAGEMENT CONTRACT AND LEASE AGREEMENT
THE STATE OF TEXAS §
KNOW ALL MEN BY THESE PRESENTS:
COUNTY OF WICHITA §
This Supplement No. One to Lease Agreement is made and
entered to be deemed effective as ' of March 1 , 1987, by and
between the Wichita County - City of Wichita Falls, Texas,
Hospital Board, dba Wichita General Hospital , a body corporate
and politic organized under the laws of the State of Texas (the
Board") , and Wichita General Service Corporation, a Texas
non-profit corporation (the "Corporation") . Additional parties
hereto, to the extent required for the covenants herein made, are
the City of Wichita Falls, Texas and the Commissioners ' Court of
Wichita County, Texas.
W I T N E S S E T H:
WHEREAS, the parties hereto have previously entered into a
Management Contract and Lease Agreement dated June 1, 1985 (the
Original Lease") ; and
WHEREAS, the defined terms in this Supplement No. One shall
have the same meanings assigned , to such terms in the Original
Lease, unless otherwise defined; and
WHEREAS, pursuant to the Original Lease the Corporation
leased the Leased Premises from the Board and, among other
things, assumed the Board Indebtedness, including the 1983
Hospital Bonds; and
WHEREAS, in order to achieve a present value savings on debt
service the Board will issue its Hospital Revenue Refunding Bonds
Wichita General Hospital Project) Series 1987 (the "Series 1987
Bonds") ; and
WHEREAS, the Series 1987 Bonds will be issued pursuant to a
Trust Indenture dated as of March 1, 1987 (the "Trust Indenture")
between the Board and InterFirst Bank Wichita Falls, N.A. (the
Trustee") , and the Trust Indenture will provide that the
proceeds of the Series 1987 Bonds will be used to advance refund
and defease the 1983 Hospital Bonds; and
WHEREAS , in order to issue the Series 1987 Bonds, it is
necessary that the Board and the Corporation enter into this
Supplement No. One to assure payment of the Series 1987 Bonds;
NOW, THEREFORE, for and in consideration of the mutual
covenants, promises and agreements herein contained, the Board
and the Corporation, hereby covenant, promise and agree as
follows:
1. Board Indebtedness. Exhibit G to the Original Lease is
hereby amended by adding thereto the description of the Series
1987 Bonds contained in Exhibit G-1 attached hereto.
2. Obligations of Corporation with Respect to Trust
Indenture. The Corporation covenants and agrees that, at all
times during which the Series 1987 Bonds are outstanding, the
Corporation will comply with all covenants and perform all
obligations and duties, and have all of the rights and benefits,
of the Issuer contained in the Trust Indenture, .to the same
extent as if the Corporation were the Issuer. In particular, but
without limitation, the Corporation shall, at all times during
which the Series 1987 Bonds are outstanding, comply with all
covenants and perform all obligations and duties of the Issuer
required under Articles Five, Six, Seven and Nine of the Trust
Indenture. At all times during which the Series 1987 Bonds are
outstanding, the Trustee shall have the authority and right to
enforce the provisions of the Trust Indenture against the
Corporation to •the same extent as if the Corporation were the
Issuer.
IN TESTIMONY WHEREOF, the parties to this Lease Agreement
have executed it as of the day and year first above written, each
representative of each party hereby certifying that he has been
duly authorized to execute the same in the capacity shown.
BOARD: CORPORATION:
Wichita County - City of Wichita Wichita General Service
Falls, Texas, Hospital Board Corporation
By:By:
Chairman Chairman
FUND/ BODIES:
City o7 ichita Fa 1., - :s Attest:
By: 41 7
Mayor City ClerkY
Canmissioners Court of
Wichita County
By:
County Judge
2
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EXHIBIT G-1
WICHITA COUNTY - CITY OF WICHITA FALLS , TEXAS,
HOSPITAL BOARD HOSPITAL REVENUE REFUNDING BONDS
WICHITA GENERAL HOSPITAL PROJECT)
SERIES 1987