HomeMy WebLinkAboutRes.3029.10-20-2016 BILL NO. 16-170 RESOLUTION NO. 3671/
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
. CAPE GIRARDEAU, MISSOURI, APPROVING REFINANCING
PROJECTS OF THE INDUSTRIAL DEVELOPMENT AUTHORITY
OF THE COUNTY OF CAPE GIRARDEAU, MISSOURI, LOCATED
IN THE CITY OF CAPE GIRARDEAU, MISSOURI
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF CAPE
GIRARDEAU, MISSOURI, AS FOLLOWS :
WHEREAS, pursuant to the authority of the Industrial
Development Corporations Act, Chapter 349 of the Missouri Revised
Statutes, as amended (the "Act") , The Industrial Development
Authority of the County of Cape Girardeau, Missouri (the
"Authority") by Resolution adopted by its governing body on
October 12, 2016, has approved refinancing projects for Saint
Francis Medical Center, a Missouri nonprofit corporation (the •
"Corporation") , to assist the Corporation by providing funds to
refund and refinance all of the Authority' s Health Facilities
Revenue Bonds (Saint Francis Medical Center) , Series 2009A
currently outstanding in the principal amount of $35, 145, 000,
previously issued to finance certain health facilities of the
Corporation, which facilities constitute "projects" as defined in
the Act (the "Project") , to be refinanced in part by the issuance
of the Authority of health facilities revenue bonds under the Act
in a principal amount not to exceed $45, 000, 000; and
WHEREAS, Section 349 . 010 of the Revised Statutes of Missouri
requires that projects of an industrial development authority of
a county may be located within the incorporated limits of a
municipality within such county with the permission of the
governing body of such municipality; and
WHEREAS, the Corporation and the Authority have requested
the City Council to approve refinancing the Project; and
WHEREAS, the City Council hereby finds and determines that
refinancing the Project will promote the economic welfare and the
development of Cape Girardeau, Missouri, and will be in
furtherance of the public purposes set forth in the Act .
NOW, THEREFORE, BE IT RESOLVED by the City Council, that it
hereby approves the refinancing of the Project in accordance with
the requirements of Section 349 . 010 of the Act and grants its
permission to the Authority to proceed with the refinancing of
the Project through the issuance of the health facilities revenue
bonds of the Authority in a principal amount not to exceed
$45, 000, 000 to be issued pursuant to the Act . This approval does
not impose any liability on the City of Cape Girardeau, Missouri
or in any way involve the City in the issuance of the bonds or
the proposed refinancing of the Project, but is an accommodation
by the City to satisfy the requirements of the Act .
PASSED AND ADOPTED THIS VIC) DAY OF 1S^Ac , 1,,o16 .
r�Ha Rediger, Mayor
ATTEST:
ruce Tay , Deputy City Clerk _plc r 'il \` ` <\
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