The URL can be used to link to this page

Home My WebLink About53-14 0 RESOLUTION 53-14 A RESOLUTION OF THE CITY COUNCIL OF THE TOWN OF LOS ALTOS HILLS APPROVING A TAX-EXEMPT BOND FINANCING TO BE ISSUED BY THE CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY TO BENEFIT DAUGHTERS OF CHARITY HEALTH SYSTEM AND CERTAIN AFFILIATES WHEREAS, Daughters of Charity Health System, a nonprofit religious corporation (the "Borrower'), has requested that the California Statewide Communities Development Authority (the"Authority") issue bonds or notes in one or more series in an aggregate principal amount not to exceed$15,000,000 (the"Bonds"); WHEREAS the proceeds of the Bonds will be used to a 1 certain expenses incurred in p AY ( ) p connection with the issuance of the Bonds, and (2). working capital to be expended at one or more of the following facilities and addresses: • Daughters of Charity Health System Corporate Office at 26000 Altamont Road, Los Altos Hills, CA; 595 East Colorado Boulevard, Pasadena, CA; 203 Redwood Shore Parkway, Redwood City, CA; 950 23rd Street, San Francisco, CA, 8500 Mercury Lane, Pico Rivera, CA • Caritas Business Services at 203 Redwood Shores Parkway, Redwood City, CA • De Paul Health Center at 18500-18590 Saint Louise Drive, Morgan Hill, CA • O'Connor Hospital at 125 Ciro Drive; 2030 2101 and 2105 Forest Avenue;• 2054 p Zanker Road; 455 O'Connor Drive, each in San Jose CA and 50 East Hamilton Avenue, Campbell, CA • Saint Louise Regional Hospital at 18525 Sutter Boulevard, Morgan Hill, CA,; 590 Cohansey Avenue, 705 Las Animas Road, 9360, 9400 and 9460 No Name Uno, each in Gilroy, CA • Seton Medical Center at 205 San Fernando Way, 1500 Southgate Avenue, 165 Pierce Street, 1784, 1800, 1850 and 1900 Sullivan Avenue, 202 Alta Loma, 25 San Fernando, 443 S. Mayfair Avenue, 45 Southgate, 901 Campus Drive, and parking lots adjacent to the aforementioned addresses, each in Daly City, CA; 3405 Spring Valley Road and 3449 Wolf Creek Road, each in Lakeport CA • Seton Medical Center Coastside at 251 Michelle Court, South San Francisco, CA and 600 Marine Boulevard, Moss Beach, CA • St. Francis Medical Center at 5953 S. Atlantic Boulevard, Maywood, CA; 2700 E. Slauson Avenue, Huntington Park, CA; 3570 Brenton Avenue, 3584, 3633 and 3663 Martin Luther King Jr. Boulevard; 3628, 3629, 3630 and 3680 E. Imperial Highway, each in Lynwood CA; 4390 Tweedy Boulevard and 9404 Burtis St., Resolution 53-14 Page 1 • • each in South Gate CA; 457 S. Long Beach Boulevard, Compton, CA; and 7840 Imperial Highway, Downey, CA • St. Vincent Medical Center 143_ Alvarado Street, 161, 171, 199, 201 South Alvarado Street, 2100, 2131, 2200 and 2301 West Third Street; 2222, 2309 Ocean View Avenue, 2120 and 2300 W. Valley Street, 2306 and 2300, 2304 and 2308 W. 4th Street; 2306-2306,5 Valley Street; 2312, 2314, 2318, 2320, 2322, 2324, .2328, 2334, 2334 1/2, 2332, 2332 %2, 2336, 2338, 2340, 2344, 2346 and 3202 W. Miramar Street; 253, 262, 272, 412, 422, 428, 428 '/2 and 434 S. Lake Street; 274 S. Park View; 275, 277, 407 S. Grandview Street; 2301 W. Ocean View Avenue, each in Los Angeles, CA; 8501 Camino Media, Bakersfield, CA • DCHS Medical Foundation at 6261 Katella Avenue, Cypress, CA; 2675 E. Slauson. Avenue, 2618, 2620, 2657, 2665, and 2671 E. 58th Street, 2623 W. Slauson Avenue, each in Huntington Park, CA; 18550 De Paul Drive, Morgan Hill, CA; 6475 Camden Avenue, 2030 and 2039 Forest Avenue, 400 Race Street, 455 O'Connor Drive, 2460 and 2585 Samaritan Drive, 277 N. Jackson Avenue, 200 Jose Figueres Avenue, 806-A Home Street and 625 Lincoln Avenue, each in San Jose, CA; 1145 E. Compton Boulevard and 111 N. Sloan Avenue, each in Compton, CA; 1500 Southgate Avenue and 1800 Sillivan Avenue, each in Daly City, CA; 8833 Monterey Road, Gilroy, CA; 966 S. Western Avenue, Los Angeles, CA; 240 Oak Meadow Drive, Los Gatos, CA, 3617 and 3621 Martin Luther King Jr. Boulevard, each in Lynwood, CA; WHEREAS, the facilities are owned and/or operated by the Borrower, Caritas Business Services, O'Connor Hospital, Saint Louise Regional Hospital, Seton Medical Center, St. Francis Medical Center, St. Vincent Medical Center and DCHS Medical Foundation, each a nonprofit religious corporation and an organization described in Section 501(c)(3) of the Internal Revenue Code of 1986; WHEREAS, pursuant to Section 147(f) of the Internal Revenue Code of 1986 (the "Code"), the issuance of the Bonds by the Authority must be approved by the Town of Los Altos Hills (the "Town"); WHEREAS, the Borrower is headquartered in the Town and the City Council of the Town (the "Council") is the elected legislative body of the Town and is one of the applicable elected representatives required to approve the issuance of the Bonds under Section 147(f) of the Code; WHEREAS, the Authority, as an "on-behalf-of issuer of bonds", has requested that the Council approve the issuance of the Bonds by the Authority in order to satisfy the public approval requirement of Section 147(f) of the Code and the requirements of Section 9 of the Amended and Restated Joint Exercise of Powers Agreement, dated as of June 1, 1988 (the "Agreement"), among certain local agencies, including the Town; and WHEREAS, pursuant to. Section 147(f) of the Code, the Council has, following notice duly given, held a public hearing regarding the issuance of the Bonds, and now desires to approve the issuance of the Bonds by the Authority; Resolution 53-14 Page 2 NOW THEREFORE, THE CITY COUNCIL OF THE TOWN OF LOS ALTOS HILLS DOES HEREBY RESOLVE AS FOLLOWS: Section 1. The Council hereby approves the issuance of the Bonds by the Authority. It is the purpose and intent of the Council that this Resolution constitute approval of the issuance of the Bonds by the Authority, for the purposes of(a) Section 147(f) of the Code and (b) Section 9 of the Agreement. Section 2. The issuance of the Bonds shall be subject to the approval of the Authority of all financing documents relating thereto to which the Authority is a party. The Town shall have no responsibility or liability with respect to the Bonds or the credit worthiness of the Borrower. Section 3. The adoption of this Resolution shall not obligate the Town to (i) approve any application or request for or take any other action in connection with any planning, approval, permit or other action necessary for any project or (ii) make any contribution or advance any funds to the Authority or the Borrower. Section 4. The officers of the Town are hereby authorized and directed,jointly and severally, to do any"and all things and to execute and deliver any and all documents which they deem necessary or advisable in order to carry out, give effect to and comply with the terms and intent of this Resolution and the financing transaction approved hereby. Section 5. This Resolution shall become effective immediately upon its passage and adoption. The above and foregoing resolution was passed and adopted by the City Council of the Town of Los Altos Hills at a regular meeting held on the 21 st day of August, 2014 by the following vote: AYES: Radford, Corrigan, Harpootlian, Larsen, Waldeck NOES: None ABSTAIN: None ABSENT: None BY: John Radford, Mayor ATTEST: Deborah Padovan, City Clerk Resolution 53-14 Page 3