HomeMy WebLinkAboutR-90-0586J-90-591
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RESOLUTION NO, 9 0- 586
A RESOLUTION Of THE MIAMI CITY COMMISSION
APPROVING ME ISSUANCE BY THE CITY OF MIAMI,
FLORIDA, HEALTH FACILITIES AUTHORITY OF
HOSPITAL REVENUE BONDS# SERIES 1990 (PAN
AMERICAN HOSPITAL CORPORATION PROJECT), IN AN
AGGREGATE AMOUNT NOT TO EXCEED $151000 000,
FOR THE PURPOSE OF PROVIDING FUNDS, TOGiTHER
WITH OTHER AVAILABLE MONEYS, TO FINANCE THE
COST OF (i) ACQUIRING, CONSTRUCTING AND
EQUIPPING CERTAIN CAPITAL IMPROVEMENTS TO PAN
AMERICAN HOSPITAL INCLUDING, WITHOUT
LIMITATION, REIMBURSEMENT TO PAN AMERICAN
HOSPITAL CORPORATION FOR CAPITAL IMPROVEMENTS
TO PAN AMERICAN HOSPITAL PAID FROM INTERNAL
FUNDS, (ii) FUNDING A DEBT SERVICE REVENUE
FUND, AND (iii) PAYING CERTAIN COSTS OF
ISSUANCE WITH RESPECT TO THE SERIES 1990
BONDS.
WHEREAS, the City of Miami, Florida, Health Facilities
Authority (the "Authority") proposes to issue its (i) Hospital
Revenue Bonds, Series 1990 (Pan American Hospital Corporation
Project), in an aggregate amount not to exceed $15,000,000, for
the purpose of providing funds, together with other available
moneys, to finance the cost of (i) acquiring, constructing and
equipping certain capital improvements to Pan American Hospital
including, without limitation, reimbursement to Pan American
Hospital Corporation for capital improvements to Pan American
Hospital paid from internal funds, (ii) funding a debt service
fund, and (iii) paying certain costs of issuance with respect to
the Series 1990 bonds (collectively, the "Bonds"); and
WHEREAS, the Authority, pursuant to Section 147(f) of the
Internal Revenue Code of 1986, as amended, (the "Code") held a
public hearing on June 26, 1990 concerning the proposed issuance
of the Bonds and has forwarded to the City Commission the minutes
of such public hearing; and
WHEREAS, the Code requires the City Commission to approve
the issuance of the Bonds;
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No"t T1121karolB, BB tT R118 tivab at '1" s COMMISSION Or Ton CITY
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Or MIAMI# PLORIDA:
Section 1. The recitals and findings contained in the
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Preamble to this Resolution are hereby adopted by reference
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thereto and incorporated herein as if fully set forth in this
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Section.
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Section 26 The issuance by The City of Miami, Plorida,
Health Facilities Authority of Hospital Revenue Bonds, Series
1990 (Pan American Hospital Corporation Project), in an aggregate
.a=
y -
amount not to exceed $15,000.000, for the purpose of providing
funds, together with other available moneys, to finance the cost
of M acquiring,
constructing
and equipping certain
Capital
Improvements to
Pan American
Hospital including,
without
limitation, reimbursement to Pan American Hospital Corporation
j for Capital Improvements to Pan American Hospital 'paid from
Internal Funds, (ii) funding a debt service revenue fund, and
(fii) paying certain costs of issuance with respect to the Series
J 1990 Bonds is hereby approved.
Section 3. This Resolution shall become
immediately upon its adoption.
PASSED AND ADOPTED this 26th day of Jul
aAT
HZNNW
RAi
CITY CLERK
PREPARED AND APPROVED BY:
►11N Q1Lr
G. MIRIAM MARR
CHIEF ASSISTANT CITY ATTORNEY
ER
APPROVED AS TO FORM AND COSRECTNESS:
j\
JO 8 F ANDEZ
CI ATTORN.
O�IM:r'mt�: M1�$6
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CITY OF MIAMI, FLORID
1NUM-O FICE MEMORANDUM
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p: Honorable Mayor and Members WE: �cs
of the City Commission JUL — 3 190
SUBJECT
Agenda item for City
ComQni.anion Meeting of
12 , 1900.
aotA : REFERENCES :July
Cesar H. Odio
City Manager
ENCLOSURES:
RECOMMENDATIONt
it is recommended that the attached resolution approving the
issuance by the City of- Miami, Florida, Health Facilities
_
Authority of Hospital Revenue Bonds, Series 1990 (Pan American
Hospital Corporation Project), in an aggregate. amount not to
exceed $15000000, for the purpose of providing funds, together
with other available moneys, to finance the cost of (i)
acquiring, constructing and equipping -.-,.certain capital
improvements to Pan American Hospital including, without
p`
limitation, reimbursement to Pan American Hospital Corporation
t
for capital improvements to Pan American Hospital .'paid' 'from
internal funds, (ii) funding a Debt Service Revenue Fund,, and
(fii) paying certain costs of issuance with respect to the Series
1990 bonds, be adopted.,
BACKGAOUND:
The City. of Miami, Florida, Health Facilities - Authority
(Authority) is proposing the issuance of Hospital Revenue Bond's
(Pan American Hospital Corporation Project)'in an ,amount not .to
exceed $15,000,000, for the purpose of providing.funds to pal► the
s.
cost of certain capital improvements to Pan American Hospital.
The Authority recommends that the City Commission approve the
issuance of the bonds.
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