HomeMy WebLinkAbout92-342
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RESOLUTION NO. 92-342
RESOLUTION AUTHORIZING THE ISSU/\NCE AND SALE OF HOSPITAL DISTRICT NO. ONE
MOHAVE COUNTY, ARIZONA, REFUNDING GENERAL OBLIGATION BONDS (KINGMAN REGIONAL
MEDICAL CENTER PROJECT:, SERIES 1992; AND AUTHORIZING FINANCING DOCUMENTS.
WHEREJ!\.S, Hospital District No. One, Mohave County, Arizona (the
"District"), has heretofore authorized and issued its General obligation
Bonds (Kingman Regional Medical Center Project), Series 1990 (the "1990
Bonds"), in an aggregate principal amount of $14,000,000, which issuance and
sale was consented to by this Board in Resolution No. 90-223; and
WHEREAS, the District dl:lsires tD issue Additional Bonds, to be
designated "Hospital District No. One, Mohave County, Arizona, Refunding
General Obligation Bonds (Kingman Regional Medical Center Project), Series
1992 (the "1992 Bonds") which ,,,ill be issued pursuant to thee terms of the
First Supplemental Indenture dated as of October 15, 1992 (the "First
Supplemental Indenture") which supplements and amends that certain Indenture
dated as of September 1, 1990 ( the "Indenture"), by and between the District
and The Valley National Bank of hrizona, as trustee (the "Trustee"); and
WHEREAS, proceeds of the 1992 Bonds will be used to refund a portion of
the 1990 Bonds and thereby reduce the District's interest expense associated
with the 1990 Bonds, which purposes are more completely set forth in the First
Supplemental Indenture; and
WHEREAS, the Hospital Facilities (as defined in the Indenture) are being
leased to Kingman Hospital, Inc., an Arizona non-profit corporation doing
business as Kingman Regional Medical Center (the "Hospital") pursuant to the
terms of the Lease and Securi1:y Agreeml~nt dated as of July 1, 1990 (the
"Lease") as supplemented by the First Supplement dated as of October 15, 1992
(the "First: Supplement") by and between the District, as lessor, and the
Hospital, as lessee;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF MOHAVE
COUNTY, ARIZONA:
Section 1. Approval of ISEluance and Sale of Bonds. Pursuant to Section
2.13 of the Indenture, the execution and delivery of the First Supplemental
Indenture and the First Supplememt (collE~ctively, the "Financing Documents")
by the District is hereby authorized. The issuance, sale and delivery of the
1992 Bonds in accordance wit:hthe Financing Document is hereby au1:horized.
The Chairman, Clerk and County Treasurer were further authorized to take all
such further action as may be consistent with the Financing Documents and
necessary to effect the issuance, sale and delivery of the 1992 Bonds.
Dated this 19th day of October, 1992.
MOHAVE COUNTY BOARD OF SUPERVISORS
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LC'IS J~, CHAIRMAN
the Board