HomeMy WebLinkAbout90-223
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RESOLUTION NO. 90-223
RESOLUTION CONSENTING TO THE ISSUANCE AND SALE OF HOSPITAL
DISTRICT NO. ONE, MOHAVE COUNTY, ARIZONA, GENERAL OBLIGATION
BONDS (KINGMAN REGIONAL MEDICAL CENTER PROJECT), SERIES 1990, IN
AN AGGREGATE PRINCIPAL AMOUNT OF $14,000,000; APPROVING FINANCING
DOCUMENTS; AND APPROVING THI~ INVESTMENTS OF CERTAIN MONIES.
WHEREAS, Hospi1:al District No. One, Mohave County,
Arizona (the "District"), has heretofore authorized and ordered
the sale of the District, I s General Obligation Bonds (Kingman
Regional Me,dical Center Project), Series 1990 (the "Bonds"), in
an aggregate principal amount of $14,000,000; and
WHEREAS, the Bonds will bH issued pursuant to t~e terms
of that ce,rtain Indenture date as of September 1, 1990 (the
"Indenture"), by and between the District and The Valley National
Bank of Arizona, as trustee (the "Trustee"), and sold pursuant to
the terms of that Bond Purchase Agreement dated as of September
11, 1990 (the "Bond Purchase Agreement"), by and between the
District and Boettcher E~ Company, Inc., as the underwriter for
the Bonds (the "Underwriter"); and
WHEREAS, proceeds of the Bonds will be used for the
purposes approved by the electoratH of the District at a special
election hleld on October 10, 1989, which purposes are more
completely set forth in the Indenture and in the resolution of
the District approving the issuance and sale of the Bonds (the
"District Resolution"); and
WHEREAS, the Hospital Facilities (as defined in the
Indenture) will be leased to Kingman Hospital, Inc., an Arizona
nonprofit corporation doing business as Kingman Regional Medical
Center (thE~ "Hospital") pursuant to the terms of a Lease and
Security Agreement dated as of July 1, 1990 (the "Lease"), by and
between the District, as lessor, and the Hospital, as lessee; and
WHEREAS, from 'tilTH::! to time monies
representing Lease Payments or Tax Receipts
defined in the Indenture) may be invested or
on behalf of the County Treasurer;
and or securities
(as those items are
held by the Trustee
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF
SUPERVISORS OF MOHAVE COUNTY, ARIZONA:
Section I. Appro~al of Issuance and Sale of Bonds. A
copy of the District Resolution together with forms of the
Indenture I the LeaSE:! and thE~ Bond Purchase Agreement
(collectively, the "Financing Documents") have been presented to
the Board. The issuance, sale and delivery of the Bonds in
accordance with the Financing Documents and the form of the
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Financing Documents are hereby approved and consented to. The
Chairman, Clerk and County Treasurer are further authorized to
take all such further action as may be consistent wi.th the
Financing Documents and necessary to effect the issuance, sale
and delivery of the Bonds.
Section 2. InVE!stments. Under the terms of the
Indenture the Board of Directors of the District are authorized
to invest monies held by or for it by the Treasurer and to sell
such invest.ments when necessary to make the payments required
under the Indenture. Such investments are to be made only in
Permitted Investments (as defined in the Indenture. This Board
hereby consents to such investments and the sale of such
investments in accordance with the provisions of the Indenture.
DATED this 20th day of August, 1990.
MOHAVE COUNT'Y BOARD OF SUPERVISORS
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!;;/~~!.~ 1~/?~'H a-
LOIS J. HU~R I, CHAIRMAN
Board
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