HomeMy WebLinkAboutReso 1975-7893
RESOLUTION N0. 7893
A RESOLUTION APPROVING THE PLAN OF FINANCING OF BAY
GENERAL COMMUNITY HOSPITAL AND APPROVING THE ARTICLES AND
BY LAWS OF THE CORPORATION.
WHEREAS, this City Council, on behalf of the City of
Chula Vista, by Resolution No. 7720, determined that the
proposal of Bay General Community Hospital, a California non-
profit corporation (the "Corporation"), for the acquisition
of the hospital facility and for the financing of such ac-
quisition was in the interest of the residents of the City of
Chula Vista and its environs and would not impose any obligation
or burden upon the City of Chula Vista, prior to the vesting of
title to the hospital facility in the City of Chula Vista; and
WHEREAS, the Corporation has previously filed copies of
the following documents with the City Clerk:
1. a proposed Indenture of Mortgage and Deed of
Trust;
2. a proposed Agreement to Issue Notes;
3. Articles of Incorporation of the Corporation, as
amended, with proposed amendments thereto which
were to become effective prior to the issuance of
the Bonds and Notes;
4. Bylaws of the Corporation, as amended, with pro-
posed amendments thereto which were to become ef-
fective prior to the issuance of the Bonds and
Notes;
5. a proposed form of corporation Grant Deed; and
6. a proposed form of Bill of Sale;
all of which documents this City Council has reviewed, prior
to approving the formation of the Corporation and approving
the Articles of Incorporation and the Bylaws of the Corporation;
and
WHEREAS, the Corporation has amended certain of the
documents previously filed with the City Clerk, and has now
filed with the City Clerk copies of the following documents,
as revised to give effect to the terms of the proposed trans-
action:
U 15ytS .
1. a proposed Indenture of Mortgage and Deed of
Trust, as revised, dated as of September 1, 1975;
2. a proposed Agreement to Issue Notes, as re-
vised, dated as of September 1, 1975;
3. Articles of Incorporation of the Corporation,
as amended, as of September 11, 1975;
4. Bylaws of the Corporation, as amended, as of
August 21, 1975;
and
WHEREAS the Corporation proposes to increase the amount
of First Mortgage Hospital Bonds (the "Bonds") to be issued to
finance the acquisition, increasing the amount by $ 250,000,
resulting in a total amount of $ 7,750,000; and
WHEREAS, the considerations which caused this City Council
to approve of the proposed transaction remain valid and in effect.
NOW, THEREFORE, BE IT RESOLVED, by the City Council of the
City of Chula Vista as follows:
1. It is hereby found, determined and declared that the
Bonds and Notes, substantially in the forms contained in the pro-
posed Indenture of Mortgage and Deed of Trust, as revised, and
the proposed Agreement to Issue Notes, as revised, on file with
the City Clerk, with such changes as the City Attorney may ap-
prove, are hereby approved.
2. The method of financing the proposed acquisition is
hereby approved.
3. The increase in the amount of Bonds to be issued is
hereby approved.
4. The form and content of the Articles of Incorporation
of the Corporation, as amended, and of the By Laws of the Cor-
poration, as amended, are hereby approved.
Presented and Approved as to Form by
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Y
George Lindberg, City Attorney
ADOPTED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF
CHULA VISTA, CALIFORNIA, this 16th day of September
1975 by the following vote, to-wit:
AYES: Councilmen Egdahl, Scott, Hobel, Hyde
NAYES: Councilmen None
ABSENT': C'ounei Zmen None
ABSTAIN: Mayor Hamilton
Mayor of the City of Chula Vista
ATTEST l_.1~
Ci~y C erk
STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO ) ss.
CITY OF CHULA VISTA )
I, JENNIE Mo FULASZ, City Clerk of the City of Chula Vista,
California, DO HEREBY CERTIFY that the above and foregoing is a full,
true and correct copy of
that the same has not been amended or repealed.
DATED
(SEAL)
CC-660
and
City Clerk
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