HomeMy WebLinkAboutRES 2006-025 RESOLUTION NO. 2006-25
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 FOR THE BENEFIT OF BAYLOR
REGIONAL 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") and loan the proceeds to Baylor Health Care System, a
Texas non-profit corporation, to finance and refinance certain costs of acquisition,
improvement, construction, equipping and furnishing (the "Costs") a health facility which
is located within the territorial limits of the City of Grapevine, Texas (the "City"), namely
Baylor Regional 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 pay the Costs of the
Facility which is located outside the limits of Dallas County, Texas, and within the limits
of the City, requires the consent of the City's governing body (the "City Council"); and
WHEREAS, it is deemed necessary and advisable that this Resolution be adopted.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF GRAPEVINE, TEXAS:
Section 1. That this Resolution is adopted for the purpose of satisfying the
conditions and requirements of Section 221.030 of the Act.
Section 2. That the City 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 finance and refinance
the Costs of the Facility.
Section 3. That 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. That the Mayor, City Secretary, each member of the City Council and
the City Manager 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 its
adoption.
PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF
GRAPEVINE, TEXAS on this the 4th day of April, 2006.
APPROVED:
William D. Tate
Mayor
ATTEST:
inda Huff
City Secretary
APPROVED AS TO FORM:
John F. Boyle, Jr.
City Attorney
RES. NO. 2006-25 2