HomeMy WebLinkAboutRES 1992-009 RESOLUTION NO. 92-09
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
�_ " OF GRAPEVINE, TEXAS CONCERNING THE USE OF THE
PROCEEDS OF BONDS 'ISSUED BY THE NORTH CENTRAL
TEXAS HEALTH FACILITIES DEVELOPMENT
CORPORATION TO REFINANCE DEBT OF BAYLOR
MEDICAL CENTER AT GRAPEVINE; AND PROVIDING AN
EFFECTIVE DATE
WHEREAS, the North Central Texas Health Facilities Development
Corporation (the "Issuer") was created by Dallas County, Texas
pursuant to the provisions of the Health Facilities Development
Act, Chapter 221, Texas Health and Safety Code (the "Act") ; and
WHEREAS, it has been proposed that the Issuer issue its
limited obligation hospital revenue bonds (the "Bonds") to advance
refund certain bonds relating to a health facility which is located
within the territorial limits of the City of Grapevine (the
"City") , Texas, namely Baylor Medical Center at Grapevine (the
"Facility") ; and
WHEREAS, the City is a "sponsoring entity" within the meaning '
of the Act; and ,
WHEREAS, under the Act, use of the proceeds of the Bonds to
� advance refund certain bonds relating to health facilities located '
outside the limits of Dallas County, Texas and within the limits of
the City requires the consent of the City Council of the City (the
"Council") .
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF GRAPEVINE, TEXAS:
Section 1. This Resolution is adopted for the purpose of
satisfying the conditions and requirements of Section 221. 030 of
the Act.
Section 2. The City, acting by and through its Council,
hereby consents, within the meaning of Section 221. 030 of the Act,
to the use by the Issuer of the proceeds of the Bonds to advance
refund all or a portion of the bonds previously issued by the Texas
Health Facilities Development Corporation for the benefit of the
Facility.
Section 3 . This Resolution is not to be construed as an
undertaking by the City, and the Bonds shall never constitute an
, indebtedness or pledge of the City within the meaning of any
constitutional or statutory provision, and the owners of the Bonds
shall never be paid in whole or in part out of any funds raised or
��
to be raised by taxation or any other revenues of the City.
Section 4 . The City Mayor, the City Secretary and each member
of the Council are hereby authorized, jointly and severally, to
execute and deliver such endorsements, instruments, certificates,
documents, or papers as are necessary or advisable to carry out the
intent and purposes of this Resolution.
Section 5. This Resolution shall take effect immediately from
and after the date of its passage.
PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF
GRAPEVINE, TEXAS on this the 24th day of March , 1992 -
APPROVED:
�
� �
William D. Tate
Mayor
ATTEST:
� Linda Huff
City Secretary
APPROVED AS TO FORM:
� �� c�-
!�Z'����
John F. Boyle, r.
City Attorney
� ..
�..��