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Home My WebLink About19-2339. � � �, •; � � R �' � ��•�# � !'' ' :• � : * ., # � l ! # �. : 1 � � 1 '�. � R.. � �! ... � � � : �. � .. . � � ��, ��.��' .. l � �� ♦ ��. # 1 �... 1 ... � �... � R � � ♦. #',. � � � : �. , . . � , 1� : � � /� , � / / ,� � ''�. .,. ` .. . �' , . .� ., � ........ ��.. �' , � .. , � .... . � . � •��. ,� � � �' � '....' ♦ ... # ��.. ♦ .. .. l . � � '�. . � '�. � . � � � .. � � ! � �. � . � � � �.. . �....... . � . � � , .,.. � .,. • �,. ♦ � � . �.. �� # ��..... �� ,, � , � � � � :. I ... . � �' 1 t. ., #.. . � . . , � ., . �r ... � �. �, � � �� • � . • • . #, � '�. ' �. •� # •• "• # •' � • � ' � � # . � . + . • � � � t � . •' � . • *�� • • � ' ' . • - � � / . 1' • 1' • � � •' � � � � • �' �' � ' � " ! � � ` ' " • .' ' . ' �' + � . .� ' � ! • , . ' *� �. ' � ' � � � • . + . . � i# • . • � ..� � ., . . •� • ' i! � � •' .� � - ' � # .�� .� � . a # ' ! ♦ �! � � • ' • ., � ' � �� • �.� 1�� ,1��'�.�� . �� '�.'' • . . � #�� '# ' "#' '�� i�' �� + 'l; � •` . •'! � # ., • � -.• •' ' i# • . f' f. . ♦' • � ' ..� '�• 11 111 �- -• � - . - - . •. �. . •# w # . � � ..� ,� . . •- . �� . . • . �. � ,_. �. � .+- , - • : . � .� � - � . . • # . -� . 11 . ! - !- � . . . . • .. . • w � . .-� i� 11 111 �- .• � - . . •. �. . �• • � . � * ..� � . . •- . w#� . . . � . , . � . ,,. , . � . *. . � _ _ + . r .� � . # . . • � . -c . •1 � - � � - �- � - .: . + � �- � .*- . . . • ., . � � � - -•. "�� 1! 111 �- -� • . - � - ' � ' - ♦ � ' !�- : '- ♦ •' = � . • '• r� : . - � - .*.- . � �- ♦ + � . , , . � . . . � * . . . � � . : + . � . . .� .� : •�. . . � ♦ ' # ' . • - - � . � + , .� . . - -, ^# �-, -�� # .;'+- �' 1��- # �, . .�.�� . . � -� � �'' #� �. . ,! � t " �i # �' � ' f . � ' ; # " # � . � �; . # / .; ' � � � •' � # ! � r • . ' # � � " � ' ! - # ., � � - �, - , , * � . • #�' •. # �' � s • ' i� •; ! � � , � . . . � _ . � . i� �'; • " � #:.�� ` • � • ,. � � ' �' - � /- * .�' �� ' / ' /" �, ' � � ,**- � , + - � � � - .;. / i � / / � . � " � � �'; .� � (the "Notice"), and a report an the hearing has been presented to the City Council; NOW, THEREFORE, : � ........ .� . . � 1 ',,. � �, � R�. � ..,..... � SECTION 1. The findings set forth in the preamble of this Resolution are incorporated by reference into the body of this Resolution as if fully set forth herein. � . . .� .r• • - - . . w . . ♦ ' . • i� � • - � � .�# ' • - . ._: -!.'- � �. . + � � � !! 111 � . . *- . . . •�• . . , ♦ . , w . .r• � - - . _ ' �� - _ - . : � 1- r +- . • . - w - ._- . •- •-� . � - - . _ • - • r -. , � - ;;� � # - , . -� - -'� � r ` � .r• • . .' �- � - • - � �• . + . � � � - - .`, '- - . ��- • •�. . • . , - • ,� _ � . •. - � _ �� • • . . � . - �. � .�:-r � •. . • - ;• • �( �("1"lO�I u�, Further, it is recognized by the City that the instruments which authorize the issuance af bonds, notes or obligations by the Colorado Autharity will specifically state that the City is nat obligated to pay the principal of or interest on the bonds, notes or obligations proposed ta be issued by the Colorado Authority. Nathing in this resolution shall be construed as an indication by the City that it will pay or provide for the payment of any abligatians of the said Colorado Authority whether theretofore or hereafter incurred; and in this connection, attention is called to the Constitution of the State af Texas, wherein it is provided that a City may incur no indebtedness without having made provisions for its payment, and the City Cauncil af the City hereby specifically refuses ta set aside any present or future funds, assets or maney for the payment of any indebtedness ar obligatian of the Colorado Authority. SECTION 4, This Resolution shall become effective immediately, upon its passage. � n� � secanded 1�� '��'� this resalutron was made by _•Y �� ", �`r �'�� `�;_;�� .,,� �._.... and ... T e��4i��t� �� The �� n ion was passed and approved by the following vote [� - �]: A�� Nay Abstain Absent Mayor Chris Watts: . � w �- ' � - ; ., � !� f � # ' . � ' �-• � � � - ' - . , � � •- ' . • .....�...��.... � ....�......... �/ m..,. . --- ............. ��' � ... ,...— ..,......�_ --- .._ �,, ��°' ��°' � PASSED AND APPROVED this the 15th day of October, 2019. ATTEST: ROSA RIOS, CITY SECRETARY �� ,� � BY: ,�� :� °�k'� � .��""� '.,�'° �, APPROVED AS TO LEGAL FORM: AARON LEAL, CITY ATTORNEY � ��,� � � � � B • ,� , S'• � �� '�" � �'� . �� r ��.. � a ,„. r. .�. �'._._� . �... .�.� � a,r.,� �„ -3- �� , �w�w ��.�� ,�� ....�.��. �m�:..........��:�.�.�� . ______m.� __�..�� CHRIS WATTS, MAYOR � � �� .� ��li � �� '� i�►:�:iie�rr:� Notice of Public Hearing Notice is hereby given that a public hearing, as required by Sectian 147(� of the Internal Revenue Cade of 1986, as amended (the "Code"), will be held by the City af Denton, Texas, on October 4, 2019, at 10:00 a.m, local time, or as soon thereafter as the matter can be heard, at Goad Samaritan Saciety — Denton Village, 2500 Hinkle Drive, Denton, Texas, regarding the proposed issuance by the Calorado Health Facilities Authority (the "Authority") of its revenue bonds in one or mare series in an aggregate principal amount not to exceed $480,000,000 (the 66Series 2019 Bonds"). The proceeds af the Series 2019 Bonds will be loaned to Sanford, a North Dakota nonprafit corporation and an organization described in Section 501(c}(3} af the Code ("Sanford "). The proceeds af the Series 2019 Bonds will be applied, together with ather available funds, (a) in a principal amount not to exceed $65,000,000, to refund all or a portion of the outstanding $70,565,000 original principal amaunt South Dakota Health and Educational Facilities Authority Revenue Bands, Series 2009 (Sanford Health) (the "Sanford Ser°ies 2009 Bonds"); (b) in a principal amount not to exceed $45,000,000, to refinance indebtedness of The Evangelical Lutheran Gaad Samaritan Saciety ("Good Samaritan "), a Narth Dakata nonprafit carparation and an organizatian described in Section 501(c)(3} of the Cade (the "Bank Loans "); (c) in a principal amaunt not to exceed $350,000,000, to refinance a portion af a loan (the "Acquisition Bridge Loan "), the praceeds af which were used by Sanfard to acquire a cantrolling membership interest in Good Samaritan for an acquisition price in an amount necessary to redeem a portion af the (i) $169,955,000 ariginal principal amount Colorada Health Facilities Authority Health Facilities Revenue Bonds (The Evangelical Lutheran Gaod Samaritan Society Praject) Series 2012 (the "Series 2012 Bonds "), (ii) $63,675,000 original principal amount Colorada Health Facilities Authority Health Facilities Revenue Bonds (The Evangelical Lutheran Good Samaritan Society Praject) Series 2013 (the "Series 2013 Bonds "), (iii) $204,290,000 original principal amount Colorada Health Facilities Authority Health Facilities Revenue and Revenue Refunding Bonds (The Evangelical Lutheran Goad Samaritan Society Project) Series 2015A (the "Series 201 S Bonds ") and (iv) $220,720,000 ariginal principal amaunt Calorada Health Facilities Authority Health Facilities Revenue and Revenue Refunding Bonds (The Evangelical Lutheran Gaod Samaritan Society Project) Series 2017 Bonds (the "Series 2017I3onds"), all previously issued far the benefit of Gaod Samaritans (d) in a principal amount not ta exceed $10,000,000, ta refund all or a portion af the outstanding $9,309,427.76 ariginal principal amount Marton County, North Dakota Nursing Facilities Revenue Refunding Bonds (Sanford Living Centers Praject), Series 2014C (the "Sanford Series 2014C Bonds ") and $2,137,912.42 original principal amaunt Morton Caunty, North Dakata Nursing Facilities Revenue Refunding Bonds (Sanford Living Centers Project), Series 2014E (the "Sanford Series 2014E Bonds" and, together with the Sanford Series 2014C Bonds, the "Sanford Series 2014 Bonds "), (e) in a principal amount not to exceed $10,000,000, to finance ar reimburse the cost of remodeling, renovating, furnishing and equipping certain of Sanford's or Gaod Samaritan's (or any tax-exempt affiliate therea� health care and/or senior living facilities lacated in several jurisdictions throughout the United States, including in the City af Denton; (� ta pay a partion of the interest on the Series 2019 Bonds, if deemed necessary ar advisable by the Authority or Sanfard; (g) to pravide working capital, if deemed necessary or advisable by the Authority ar Sanford; (h} to fund a debt service reserve fund, if deemed necessary or advisable by the Authority or Sanford; and (i) to pay certain expenses incurred in connection with the issuance of the Series 2019 Bonds (collectively, the 66Financing Purposes"). Public approval by each local jurisdiction has been or will be obtained follawing a public notice and public hearing regarding the Series 2019 Bonds and the facilities financed and/or refinanced in that local jurisdiction. A portion of the proceeds of the Series 2019 Bonds (a} in a principal amount nat to exceed $6,500,000 will be used ta refinance the Bank Laans, a portian of the proceeds af which were spent at Good Samaritan Society — Denton Village ("Denton Village "), a seniar living facility awned by Goad Samaritan and located at 2500 Hinkle Drive, Denton, Texas, (b) in a principal amount not to exceed $4,000,000 will be used to refinance the Acquisitian Bridge Loan, a portion of the praceeds of which were spent at Good Samaritan Society — Lake Forest Village (`Zake Forest Village "), a senior living facility owned by Good Samaritan and located at 3901 Montecito Drive, Dentan, Texas, and Denton Village, and (c) in a principal amount not ta exceed $4,000,000 will be used to finance or reimburse the costs of remodeling, renovating, furnishing and equipping Lake Forest Village and Dentan Village. The praceeds of the Series 2012 Bonds were used, among other things, ta finance and refinance the casts af the acquisition, construction, improvement and equipping of certain skilled nursing facilities and other health care and senior living facilities owned and operated by Good Samaritan, fund a debt service reserve fund and pay costs of issuance. The praceeds af the Series 2013 Bonds were used, among other things, ta finance and refinance the casts of the acquisition, construction, improvement and equipping of certain skilled nursing facilities and other health care and senior living facilities owned and operated by Good Samaritan, including at Lake Forest Village and Denton Village described above, fund a debt service reserve fund and pay costs of issuance. The proceeds of the Series 2015 Bonds were used, among other things, to finance and refinance the costs af the acquisition, construction, improvement and equipping af certain skilled nursing facilities and other health care and seniar living facilities owned and operated by Good Samaritan, fund a debt service reserve fund and pay costs of issuance. The proceeds of the Series 2017 Bonds were used, among other things, to finance and refinance the costs of the acquisition, construction, improvement and equipping of certain skilled nursing facilities and other health care and senior living facilities owned and operated by Good Samaritan, including at Lake Forest Village and Denton Village described above, fund a debt service reserve fund and pay costs of issuance. The proceeds of the Sanford Series 2009 Bonds were used, among ather things, to pay or reimburse Sanford and its affiliates for the payment of the costs of acquiring, canstructing, renovating, remadeling and equipping certain af the health facilities owned and operated by Sanford or its affiliates. . �� --• # . . �� - - 1 • ;� . .. _* # _# - : • - . - �.� .� . .� � , _ � . � . . � � - . � � � � - •. • . #�_ _ . � . � + . • '• r• :' # -• : . . � .w , • #�- , -� � . # •' * ' _ + , � . , � * , � � . i. �. ' ' '• . � � � ' * � . ' ' � " �'• 'f ' '•' ! +' • � " � . . � ; � . � � #,, � � . � ! ., �!. = . � � � • • � '� �• � � " � � ' � '� � •' #�• .� � �!� . 1 � �, � � . • ' • � � 1' � .*' •' �'• r�# "' � •' ��' . • I. " • •' . '1 #` ' + .� .' � � .,.� #, . .. . � � i!' t; � .. , . . r � • ` #�. .. - •��.. � i •� �� ' . ' f: • r .. � •. . � � 1: . •. ..,. �� .... � . ..: ' ' . # . ' . . " � � � . � . � � !� �; �' . . � '• #f �� ! � � �' � •� t• ' *',' • � #� � .w #` " � # • �� 1 � �•�� .� .. � �. �. ' � ! : � •' . • • , � /' � , w . ., . . � # i • � : �, # � � # � � � �� _ �� - . �. �� . - - ��, • �� • � # • .� . , ,� �. � * �, - � . . . � + ' w . . . i � i� � �' • � ' . ' . � � . �, # � � � . � • ! - � � . " ! �' # • ♦��# '�' '.1 �' • '�' � " • '� t. � � �# ' 1 • '+ �� ♦ �� f . . � ` -, • � . � . � ��' � t � . � , # . . .�� ' � ' • �" �# . '� � • � � � . � • #' s�� ' '• *' ' � •' #' # �' # •�' �##; . '�, � � . ,. � , . * � � . ,; . �, . � ' . : ! �' �' , � � � � • ' �-' � ' # �