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HomeMy WebLinkAboutResolution-1992-1289 RESOLUTION NO. 1289 TITLE: A RESOLUTION TO AMEND RESOLUTION NO. 1139, SERIES OF 1989, AS EXTENDED BY RESOLUTION NO. 1186, SERIES OF 1990 AND AS AMENDED BY RESOLUTION NO. 1229 AND 1233, AND CALLING FOR A PUBLIC HEARING ON THE ISSUANCE OF QUALIFIED 501(c)(3) BONDS FOR THE USE OF MOUNTAIN VISTA HEALTH CENTER, INC. WHEREAS, the City Council (the "Council") of the City of Wheat Ridge (the "City"), State of Colorado, adopted Resolution No. 1139, Series of 1989 at a regular meeting of the Council held on February 27, 1989; and WHEREAS, Resolution No. 1139, Series of 1989 was extended and reaffirmed in Resolution No. 1186, Series of 1990 passed and adopted by the Council at a regular meeting of the Council held on February 26, 1990 and was amended by Resolution No. 1229, Series of 1990 passed and adopted at a regular meeting of the Council held on October 22, 1990 and further amended by Resolution No. 1233, at a regular meeting of the Council held on December 10, 1990 (Resolution No. 1139, as extended and reaffirmed by Resolution No. 1186 and as amended by Resolution No. 1229 and further amended by Resolution No. 1233, is hereinafter referred to as the "Original Resolution"); and WHEREAS, the Original Resolution expressed the Council's intent to iS2ue up to $11,500,000 of the City's qualified 501(c)(3) bonds or other obligations (the "Bonds") for the use of The Baptist Home Associat.ion of the Rocky Hountains, a 501(c)(3) organization ("BHA") or, its subaidiary, Hountain Vista Health Center, Inc. , a 301(c) (3)organization ("HVHC"), for the purposes and upon the terms stated in the Original Resolution; and \iBEREAS, at the time Resolution No. 1233 was adopted, it was anticipated that the Bonds should be issued for the use of BHA; and WHEREAS, subsequent to the adoption of Resolution No. 1233, for reasons beyond the control of BHA and MVHC, it was determined that BHA \-rould transfe~- all of its right, title and interest in its existing heaJ.th-care facility (except for its assisted living facility) located Vlith:;.11 the City to MVHC and t_hat the Bonds should be issued by and for the use of MVHC; and WHEREAS, because of thF-' unanticipated delay in the issuance of the Bonds, i1: is necessary to extend the duration of the Original )'I',"solutior,. ~lOW , THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WHEAT RIDGE, COLORADO: 1. All references in the Original Resolution to "the User" shall be deemed to be references to MVHC. The Original Resolution is hereby ratified and reaffirmed in all other respects with the exception that the one-year period referred to in Section 5 thereof shall be deemed to be the one-year period beginning on the date this Resolution is adopted by the Council. 2. A public hearing concerning the City's issuance of the Bonds for the use of MVHC is hereby called to be held at the hour of 7:30, p.m., on Monday, May 11, 1992 at the regular meeting place of the Council. The City Clerk is hereby directed to give notice of such public hearing substantially in the form of Exhibit A hereto. DONE AND RESOLVED this 13th day of April, 1992. I , , EXHIBIT A NOTICE OF PUBLIC HEARING On Monday, May 11, 1992, at 7:30, p.m. a public hearing will be held at 7500 West 29th Avenue, Wheat Ridge, Colorado 80033, by the City Council of the City of Wheat Ridge, Colorado with respect to the issuance by the City of Wheat Ridge, Colorado of $11,500,000 maximum aggregate face amount of its qualified 501(c)(3) revenue bonds. The bonds are to be issued to finance the costs of renovating the Mountain vista Health Center nursing home and constructing additional health- care (including Alzheimer's) facilities at Mountain vista Health Center, Inc. (collectively, the "Project"). The Project is located at 4800 Tabor Street in the City of Wheat Ridge, Colorado and is owned by Mountain Vista Health Center, Inc., a Colorado nonprofit corporation. Anyone may appear at the hearing and express his/her views regarding the proposed Project and the related issuance of bonds. In addition, written comments may be submitted at any time prior to the hearing to Robert Middaugh, City Administrator, at P. O. Box 638, Wheat Ridge, Colorado 80034. Wanda Sang City Clerk Published: Wheat Ridge Sentinel Apri 1 23, 1992