title
A RESOLUTION OF THE CITY COUNCIL FOR THE CITY OF JONESBORO, ARKANSAS APPROVING A PLAN FOR FINANCING HEALTH CARE FACILITIES FOR ST. BERNARDS HEALTHCARE, INC.; AUTHORIZING AN INTERLOCAL AGREEMENT WITH THE CAPITAL TRUST AGENCY OR THE ESCAMBIA COUNTY (FLORIDA) HEALTH FACILITIES AUTHORITY AND THE EXECUTION AND DELIVERY OF CERTAIN DOCUMENTS AND INSTRUMENTS IN CONNECTION THEREWITH; APPROVING A FORM OF INTERLOCAL AGREEMENT; APPROVING THE ISSUANCE BY THE CAPITAL TRUST AGENCY OR THE ESCAMBIA COUNTY HEALTH FACILITIES AUTHORITY OF NOT EXCEEDING $900,000,000 IN HEALTH CARE REVENUE BONDS FOR VHA CAPITAL BORROWING PROGRAMS, PURSUANT TO SECTION 147(f) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED; AND PROVIDING AN EFFECTIVE DATE.
body
WHEREAS, St. Bernard’s Healthcare, Inc., 224 E. Matthews, Jonesboro, Arkansas (the “Local Institution”) has advised that it intends to finance or refinance a health care project for use in connection with the Local Institution's health care facilities known as St. Bernard’s Hospital, Inc., d/b/a St. Bernard’s Regional Medical Center (the "Local Project"), located within the territorial limits of the City of Jonesboro, Arkansas; and
WHEREAS, the City of Jonesboro, Arkansas (the “Local Agency”) has the power and authority to issue bonds to finance or refinance healthcare projects within the jurisdiction of the Local Agency, including health care facilities, equipment and structures and, in particular, the Local Project; and
WHEREAS, it is not practicable within current time constraints and under applicable laws and regulations for the Local Agency to issue its bonds for the purpose of implementing a health care financing pooled loan program of such scale as to provide economies of scale in affording financing to the Local Institution; and
WHEREAS, the Capital Trust Agency, a public agency of the State of Florida (“ACTA”), and the Escambia County Health Facilities Authority, a public agency of the State of Florida (the “Authority”) (coll...
Click here for full text