HomeMy WebLinkAboutRes.3390.03-15-2021 BILL NO. 21-33 RESOLUTION NO. 33'10
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 March 12, 2021, has approved refinancing projects for Saint
Francis Healthcare System, 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 2013A
currently outstanding in the principal amount of $102, 380, 000,
previously issued to finance and refinance certain health
facilities of the Corporation, which facilities constitute
"projects" as defined in the Act (the "Project") , to be
refinanced in whole or in part by the issuance by the Authority
of its Taxable Health Facilities Revenue Bonds (Saint Francis
Healthcare System) , Series 2021 in a principal amount not to
exceed $120, 000, 000 or, alternatively, its tax-exempt Health
Facilities Revenue Bonds (Saint Francis Healthcare System)
Series 2022 (Forward Delivery) in a principal amount not to
exceed $105, 000, 000, as permitted under the Act; 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 by the Authority of it' s Taxable
Health Facilities Revenue Bonds, Series 2021 in a principal
amount not to exceed $120, 000, 000 or, alternatively it' s tax-
exempt Health Facilities Revenue Bonds, Series 2022 (Forward
Delivery) in a principal amount not to exceed $105, 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 ct . j
PASSED AND ADOPTED THIS \ DAY OF�1�►\1, ►\ (.) 2021 .
Bob Fox, ayor
ATTEST :
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-Bruce Tayc.6 Deputy City Clerk ;PACog • 'A`1,;, cty , e7:1,
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