HomeMy WebLinkAboutR2004-037S:\Our Doc un)ent s'~Resolutions\O4'~Nelson Children's Center bonds.dec
RESOLUTION NO. 4~7t~7/-~'~' 7
A RESOLUTION OF THE CITY OF DENTON, TEXAS APPROVING THE FINANCING BY
THE HFDC OF CENTRAL TEXAS, INC. OF A HEALTH FACILITY LOCATED WITHIN
THE CITY OF DENTON, TEXAS; PROVIDING AN EFFECTIVE DATE.
WHERAS, the Health Facilities Development Act, Chapter 221, Texas Health and Safety
Code (the "Act"), authorizes and empowers HFCD of Central Texas, Inc. (the "Issuer") to issue
revenue bonds on behalf of the City of Hubbard, Texas (the "Issuing Unit") to finance and
refinance the costs of health facilities found by the Board of Directors of the Issuer to be
required, necessary or convenient for health care, research and education, any one or more,
within the State of Texas and in furtherance of the public purposes of the Act; and
WHEREAS, Lutheran Social Services of the South, Inc. (the "User"), a nonprofit Texas
corporation, proposes to obtain financing and refinancing from the Issuer from a portion of the
proceeds of the Issuer's bonds issued pursuant to the Act for costs of certain health facilities
consisting of a 65 bed residential treatment facility known as the Nelson Children's Treatment
Center, for emotionally disturbed children and adolescents located at 4601 Interstate 35 North,
Denton, Texas 76207 (the "Project"); and
WHEREAS, the Project will be located within the City of Denton, Texas (the "City") and
outside the limits of Issuing Unit; and
WHEREAS, Section 147(0 of the Internal Revenue Code of 1986 (the "Code") requires
that the consent of a governmental unit in which the Project is located be obtained prior to the
use of bond proceeds to finance and refinance the Project; and
WHEREAS, a public hearing was held by a heating officer of the Issuer at the Project at
9:00 a.m. on Wednesday, July 21, 2004 and the City of Denton received a copy of the minutes of
the public hearing; NOW, THEREFORE,
THE COUNCIL OF THE CITY OF DENTON, TEXAS HEREBY RESOLVES:
SECTION 1: The preambles of this resolution are incorporated herein and made a part
hereof for all purposes.
SECTION 2: The City hereby consents to and approves the financing for the purposes
of Section 147(f) on the Internal Revenue Code of 1986, provided that the City shall have no
liability in connection with the financing of the Project and shall not be required to take any
further action with respect thereto.
SECTION 3: The City Secretary is authorized and directed to deliver executed copies of
this Resolution to the President of the Board of Directors of the Corporation for use in
connection with the issuance of the aforementioned Bonds.
SECTION 4: This Resolution shall become effective immediately upon its passage and
approval.
PASSED AND APPROVED this the ~,.~:lay of ~F__~ L~'~/'-
EULINE BROCK, MAYOR
2004.
ATTEST:
JENNIFER WALTERS, CITY SECRETARY
APPROVED AS TO LEGAL FORM:
HERBERT L. PROUTY, CITY ATTORNEY
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