RESO 2003-17 - Consent to HFDC of Central Texas, Inc. project at Huntsville Memorial HospitalRESOLUTION 2003-17
RESOLUTION GIVING CONSENT TO A PROJECT FOR
HUNTSVILLE MEMORIAL HOSPITAL
WHEREAS, the Health Facilities Development Act, Chapter 221, Texas Health and Safety
Code, as amended (the "Act"), authorizes and empowers HFDC of Central Texas, Inc. (the "Issuer")
on behalf of the City of Hubbard, Texas (the "Issuing Unit"), to acquire, by lease, health facilities
found by the Board of Directors of the Issuer to be required, necessary or convenient for health care,
research and education, any one or more, within the State of Texas and in furtherance of the public
purposes of the Act; and
WHEREAS, Section 221.030(a)(1) of the Act provides that the Issuer may provide for the
financing and refinancing of one or more such health facilities located outside the limits of the
Issuing Unit with the consent of every city, county and hospital district within which such health
facility is or is to be located; and
WHEREAS, the Issuer will lease certain hospital equipment (the "Project") in a maximum
principal amount of $2,000,000 from GE Capital Public Finance, Inc. or General Electric Capital
Corporation and will sublease the Project to Huntsville Memorial Hospital (the "Hospital"); and
WHEREAS, the Project will be located at the Hospital's facilities within the City of
Huntsville, Texas (the "City") and is located outside the limits of the Issuing Unit;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF HUNTSVILLE,
TEXAS THAT:
Section 1. The City hereby consents to the leasing and subleasing by the Issuer of the Project
as provided by Section 221.030(a)(1) of the Act and approves the financing in a maximum principal
amount of $2,000,000 solely for the purpose of satisfying the requirements of Section 147(0 of the
Internal Revenue Code of 1986; provided that the City shall have no liability in connection with the
leasing and subleasing of the Project and shall not be required to take any further action with respect
thereto.
Section 2. This Resolution shall take effect immediately from and after its adoption and it is
accordingly so ordered.
PASSED AND APPROVED on this the 2nd day of September 2003.
AT ST:
Danna Welter, City Secretary
Karl D idson, Mayor
APPROVED AS TO FORM:
Pau1 C. Ishan,'City Attorney