HomeMy WebLinkAboutResolution-1990-1229
RESOLUTION NO. 1229
TITLE: A RESOLUTION TO AMEND RESOLUTION NO. 1139 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 Ci ty 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. 1189, Series of 1990 passed and
adopted by the Council at a regular meeting of the Council
held on February 26, 1990 (Resolution No. 1139, as extended
and reaffirmed by Resolution No. 1186, is hereinafter
referred to as the "Original Resolution"); and
WHEREAS, the Original Resolution expressed the Council's
intent to issue up to $10,000,000 of the City's qualified
501(c)(3) bonds or other obligations for the use of The
Eaptist Home Association of the Rocky Mountains, a 501(c)(3)
organization (the "BHA") for the purposes and upon the terms
stated in the Original Resolution; and
WHEREAS, BHA has transferred all of its right, title and
interest in its existing nursing home facility located within
the City to Mountain Vista Health Center, Inc. (the "User"),
a Colorado nonprofit corporation and a subsidiary of BHA; and
WHEREAS, the User has requested that the Ci ty increase the
maximum amount of qualified 501(c) (3) bonds or other
obligations provided for in the Original Resolution from
$10,000,000 to $11,500,000; and
WHEREAS, the User has expressed its desire to pursue the
Project, as defined in the Original Resolution, at this time;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF WHEAT RIDGE, COLORADO;
1. The Original Resolution is hereby amended by replacing
"$10,000,000" with "$11,500,000" in each place that "$10,000,000"
appears in the Original Resolution. Furthermore, all references
in the Original Resolution to "the User" are hereby amended and
deemed to be references to Mountain Vista Health Center, Inc.
rather than to BHA. The Original Resolution is hereby ratified
and reaffirmed in all other respects.
2. A public hearing concerning the City's issuance of a
maximum aggregate principal amount of $11,500,000 of qualified
501(c)(3) bonds for the use of Mountain vista Health Center, Inc.
is hereby called to be held at the hour of 7:30, p.m., on Monday,
November ~ k), 1990 at the regular meeting place of the Council.
The City Clerk is hereby directed to give notice of such public
hearing substantial1y in the form of Exhibit A hereto.
DONE AND RESOLVED this 22nd day of October, 1990.
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ATT,EST: (
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City Clerk ,I
Mayor
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EXHIBIT A
NOTICE OF PUBLIC HEARING
On Monday, November~, 1990, 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 existing Mountain Vista Nursing Home,
constructing additional nursing home and/or assisted living
housing facilities at the Mountain Vista Nursing Home facility
(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 Michael Smith, City Administrator,
at P. O. Box 638, Wheat Ridge, Colorado 80034.
Wanda Sang
City Clerk
RHL/WRC-OOl