HomeMy WebLinkAboutR-91-0577J-91-592
7/25/91
RESOLUTION NO.
A RESOLUTION OF THE COMMISSION OF THE CITY OF
MIAMI, FLORIDA APPROVING THE ISSUANCE BY THE
CITY OF MIAMI, FLORIDA HEALTH FACILITIES
AUTHORITY OF HEALTH FACILITIES REVENUE BONDS
(MERCY HOSPITAL, INC. PROJECT), SERIES 1991A, IN
AN AGGREGATE AMOUNT NOT TO EXCEED $35,000000.
WHEREAS, the City of Miami, Florida, Health Facilities
Authority (the "Authority") proposes to issue its Health Facilities
Revenue Bonds (Mercy Hospital, Inc. Project), Series 1991A, in an
aggregate amount not to exceed $35,000,000 (the "Bonds") for the
purpose of (i) refunding the Authority's Hospital Revenue Refunding
Bonds, Series 1985A (Mercy Hospital Project); (ii) reimbursing all
capital expenditures incurred by Mercy Hospital, Inc. (the
"Hospital") during the Hospital's 1990 and 1991 fiscal years,
including, but not limited to (a) equipment purchases, (b) the
renovation of the gastrointestinal clinic and (c) the construction
and equipping of a two -level facility to house a cardiac
catheterization program and hyperbaric center; (iii) paying the
cost of the acquisition, construction and equipping of (a)
completing the projects described in (ii) above, (b) an eight bed
addition to the intensive care unit, (c) the conversion of twenty
medical/surgery beds to 20 comprehensive medical rehabilitation
beds; (iv) to finance the acquisition of certain medical equipment;
(v) funding a debt service reserve fund for the Bonds; and (vi)
paying the cost of issuing the Bonds; and
WHEREAS, representatives of the Authority, pursuant to the
42
Internal Revenue Code of 1986, as amended, (Code), held a public
hearing on July 19, 1991 concerning the proposed issuance of the
j Bonds and has forwarded the minutes of such meeting to the Miami
City Commission; and
a_
y
WHEREAS, said Code requires that the Commission approve
the issuance of the Bonds;
NOW, THEREFORE, BE 1T RESOLVED BY THE COMMISSION OF THE
CITY OF MIAMI, FLORIDA:
Section 1. The recitals and findings contained in the
Preamble to this Resolution are hereby adopted by reference thereto
and incorporated herein as if fully set forth in this Section.
Section 2. For the purposes of Section 147(f) of the Internal
Revenue Code of 1986, the issuance of the Bonds as described in
Section 1 hereof is hereby approved. _
Section 3. This Resolution shall become effective immediately
upon its adoption.
PASSED AND ADOPTED this 25th day of 2uly , 1991.
.j%AVIER L. SU REZ, MAYOR
ATTEST: y
MATTT HIRAI, CITY CLERK
y
17
CITY OF MIAMI, FLORIDA
INTER -OFFICE MEMORANDUM
TO: Honorable Mayor and Members
of the City Commission
FROM : Cesar H. Odio
City Manager
DATE : FILE
JUL 1 7 1991
SU13JECT :
REFERENCES:
ENCLOSURES:
Agenda Item for City
Commission Meeting
It is recommended that the attached resolution approving the
issuance of bonds by the City of Miami, Florida Health Facilities
Authority of.. Hospital Revenue Refunding Bonds (Mercy Hospital
Project), Series 1991A, in an aggregate amount not to exceed
$35,000,000, to refund all or a portion of the Authority's
Hospital Revenue Refunding Bonds (Mercy Hospital Project), Series
1985A and reimbursement of all capital expenditures incurred by
Mercy Hospital, Inc. during the Hospital 1990 and 1991 fiscal
years, be approved.
The City of Miami, Florida, Health Facilities Authority.
(Authority) is proposing the issuance of Hospital Revenue
Refunding Bonds (Mercy Hospital Project) in an amount not to
exceed $35,000,000 for the refunding of all or a portion of the
outstanding Hospital Revenue Refunding Bonds previously issued by
the Authority for Mercy Hospital and reimbursement of all capital
expenditures incurred by Mercy Hospital, Inc. during the Hospital
1990 and 1991 fiscal years.
The Authority recommends that the City Commission approve - the
issuance of the bonds.