HomeMy WebLinkAbout10-27-88-07 - Resolution - 10/27/1988 A RESOLUTION CONSENTING TO CAPITAL IMPROVEMENTS
SCOTT AND WHITE MEMORIAL HOSPITAL AND
SCOTT, SHERWOOD AND BRINDLEY FOUNDATION
AND THE ISSUANCE OF BONDS BY THE
BELL COUNTY HEALTH FACILITIES DEVELOPMENT CORPORATION
TO FINANCE SUCH IMPROVEMENTS
WITHIN THE CITY OF COLLEGE STATION, TEXAS
WHEREAS, the health facilities (the "Project"), described in Exhibit
A attached hereto which is situated in the City of College Station,
Texas, is owned and operated by Scott and White Memorial Hospital and
Scott, Sherwood and Brindley Foundation, Temple, Texas, a Texas non-
profit corporation (the "Owner"); and
WHEREAS, the Project was originally financed through the issuance by
the Brazos County Health Facilities Development Corporation of its
$6,000,000 Brazos County Health Facilities Development Corporation Health
Facilities Development Revenue Bonds (Butler-Paulos Partnership Project)
Series 1985; and
WHEREAS, the Owner has now acquired the Project and wishes to
refinance the Project as a part of a larger refinancing program of the
Owner; and
WHEREAS, the Health Facilities Development Act, Article 1528j,
Vernon's Texas Civil Statutes (hereinafter, together with any amendments,
called the "Act") provides for the creation by sponsoring entities of
health facilities development corporations with powers to provide,
expand, and improve health facilities; and
WHEREAS, the Act defines a "sponsoring entity" as any city, county,
or hospital district in Texas; and
WHEREAS, Bell County, Texas, is a sponsoring entity pursuant to the
Act and has established the Bell County Health Facilities Development
Corporation (the "Health Facilities Corporation") pursuant to the Act;
and
WHEREAS, the Health Facilities Corporation at its October 4, 1988,
meeting adopted a resolution agreeing and declaring its intention to
issue its limited obligation bonds (the "Bonds") to provide all or a
portion of the amounts necessary to finance the Project; and
WHEREAS, the Health Facilities Corporation may so act with respect
to the Project (a health facility outside the limits of the County of
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Bell, Texas) only with the consent of every other sponsoring entity
within which the Project is located; and
WHEREAS, City of College Station, Texas, is a sponsoring entity
within which the Project is located and has been requested to give its
consent pursuant to the Act; and
WHEREAS, the action of the Health Facilities Corporation with
respect to the Project (including issuing bonds to refinance the Project
by issuing its Bonds) will create no liability for the City of College
Station, Texas, or its residents and is in the best interests of the City
of College Station, Texas, and its residents;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
COLLEGE STATION, TEXAS:
1. That consent is hereby given for the Project and the issuance
of the Bonds by the Health Facilities Corporation to finance the Project.
2. That this consent shall continue in force and effect from the
date hereof.
PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF COLLEGE
STATION, TEXAS, this ~/S~-day of ~L~Z~ , 1988.
f
Mayor Pro T~-~
City of College Station, Texas
ATTEST:
City
City ege Station, Texas
[ SEAL]
APPROVED AS TO FORM:
City of College Station, Texas
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EXHIBIT A
DESCRIPTION OF SERIES 1985 PROJECT
Series 1985 Project. The Project financed with the
proceeds of the $6,000,000 Brazos County Health Facilities
Development Corporation Health Facilities Development Revenue
Bonds (Butler-Paulos Partnership Project) Series 1985
consisted of the acquisition of approximately 4.3 acres of
land and the construction thereon of an approximately 47,000
square foot multi-specialty outpatient clinic and other items
of furniture, equipment, fixtures and furnishings that are
functionally related and subordinate to the foregoing and
owned by Butler-Paulos Partnership, a Texas partnership, and
its successors, principally Scott and White Memorial Hospital
and Scott, Sherwood and Brindley Foundation.
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