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RESOLUTION NO. 4913
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
ARCADIA, CALIFORNIA, AUTHORIZING THE ISSUANCE,
SALE AND DELIVERY OF CITY OF ARCADIA HOSPITAL
REVENUE BONDS (METHODIST HOSPITAL OF SOUTHERN
CALIFORNIA), SERIES A, THE EXECUTION AND
DELIVERY OF AN INDENTURE, LOAN AGREEMENT, BOND
PURCHASE AGREEMENT, OFFICIAL STATEMENT AND
CERTAIN OTHER ACTIONS IN CONNECTION THEREWITH.
WHEREAS, the City Council of the City of Arcadia
(the "City") has, by Ordinance No. 1700, adopted by the
Council on April 1, 1980, enacted the City of Arcadia Health
Facilities Revenue Bond Law (herein called the "Law"),
establishing a program and procedure for the authorization,
sale and issuance of revenue bonds by the City for the
purpose of making loans to participating health institutions
to finance and refinance health facilities; and
WHEREAS, the City Council of the City has, by
Resolution No. 4893, adopted by the Council on March 18,
1980, given preliminary approval for the issuance of such
bonds to fund a loan to Methodist Hospital of Southern
California (the "Hospital") to finance expansion and
improvement at the Hospital, and authorized proper officers
of the City to proceed to prepare, or cause to be prepared,
the documentation necessary for such purpose;
NOW,' THEREFORE, BE IT RESOLVED by the Counc il of
the City of Arcadia, as follows:
1. Pursuant to the Law, revenue bonds of the City,
designated as "City of Arcadia Hospital Revenue Bonds
(Methodist Hospital of Southern California), Series A,. in
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the aggregate principal amount of $22,900,000 (herein called
the "Bonds"), are authorized to be issued.
2. The proposed form of loan agreement, dated as
of August 1, 1980, between the City and the Hospital,
presented to this meeting, is hereby approved. The Council
hereby specifically finds and declares that the findings of
the City set forth in Section 2.2 of said form of loan
agreement are true and correct. The Mayor is hereby
authorized and directed, for and in the name and on behalf of
the City, to execute, acknowledge and deliver a loan
agreement in substantially said form, with such changes
therein as such officer may require or approve, such approval
to be conclusively evidenced by the execution and delivery
thereof.
3. The proposed form of indencure, datea as of
Security Pacific
August 1, 1980, between the City and NRtionRl RRnk , as
trustee (herein called the "Trustee"), presented to this
meeting, is hereby approved. The Mayor is hereby authorized
and directed, for and in the name and on behalf of the City,
to execute, acknowledge and deliver to the Trustee an
indenture in substantially said form, with such changes
therein as such officer may require or approve, such approval
to be conclusively evidenced by the execution and delivery
thereof. The date, maturity dates, interest rate or rates,
interest payment dates, denominations, forms, registrqtion
privileges, manner of execution, place or places of payment,
terms of redemption and other terms of the Bonds and coupons
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appertaining thereto shall be as provided in said indenture,
as finally executed.
4. The proposed form of bond purchase agreement,
dated August 5, 1980, between the City and Ziegler
Securities, fnc., as representative (the "Representative") of
the underwriters referred to therein (the "underwriters"),
presented to this meeting, is hereby approved. The Mayor is
hereby authorized and directed to execute and deliver to the
Representative said bond purchase agreement in substantially
said form, with such changes therein as such officer may
require or approve, such approval to be conclusively
evidenced by the execution and delivery thereof.
5. The proposed form of official statement
relating to the Bonds, presented to this meeti~g, is hereby
approved. The Mayor is hereby authorized, fot and in the
name and on behalf of the City, to execute an official
statement, in substantially said form, with such changes
therein as such officer may require or approve, such approval
to be conclusively evidenced by the execution thereof. The
Underwriters are hereby authorized to distribute copies of
said official statement, as finally executed, to persons who
may be interested in the purchase of the Bonds and are
directed to deliver such copies to all actual purchasers of
the Bonds.
6. Forms of the proposed loan agreement,
indenture, bond purchase agreement and official statement are
on file in the Office of the City Clerk.
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7. Bonds in the aggregate principal amount of
$22,900,000 shall be executed by the facsimile signature of
the Mayor, the facsimile of the seal of the City shall be
reproduced thereon and attested by the facsimile signature of
the City Clerk, and the interest coupons attached thereto
shall be executed by the facsimile signature of the
Treasurer, in forms set forth in and otherwise in accoraance
with said indenture.
8. The Bonds, when so executed, shall be delivered
to the Trustee for authentication. The Trustee is hereby
requested and directed to authenticate the Bonas by executing
the Trustee's certificate of authentication appearing
thereon, and to deliver the Bonds, when duly executed ana
authenticated, to the Underwriters in accordance with written
instructions executed on behalf of the City by the Mayor or
City Manager, which instructions said officer is hereby
authorized and directed, for and in the name and on behalf of
the City, to execute and deliver to the Trustee. Such
instructions shall provide for the delivery of the Bonds to
the underwriters in accordance with said bond purchase
agreement, upon payment of the purchase price thereof.
9. The City Clerk is hereby authorized and
directed to attest the signature of the Mayor and to affix
and attest the seal of the City as may be required in
connection with the execution and delivery of the Bonds and
said loan agreement, indenture and bond purchase agreement in
accordance with this resolution.
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10. The officers of the City are hereby authorized
and directed, jointly and severally, to do any and all things
and to execute and deliver any and all documents which they
may deem necessary or advisable in order to consummate the
issuance, sale and delivery of the Bonds and otherwise to
carrY,out, give effect to and comply with the terms and
intent of this resolution, the Bonds and said loan agreement,
indenture and bond purchase agreement.
11. This resolution shall take effect immediately
upon its passage.
I HEREBY CERTIFY that the foregoing resolution was
adopted at' a regular meeting of the City Council of the City
of Arcadia duly, regularly and legally held at the regular
meeting place thereof on this 5th day of August, 1980, by the
affirmative vote of at least three Councilmen, to wit:
AYES: COUNCIUlEN GILB, SAELID, PELLEGRINO
NOES: COUNCILMEN DRING, HALTOM
ABSENT: NONE
SIGNED AND
~~~~
City Clerk of the City of Arcadia
APPROVED ~-i-- day OfUuO.l/7-r-JC12o
~rdet. C{I
Mayor of the rcadia
~d~ ~~
c"y,,"
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