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Res 1842 - Hospital Facility Bonds COUNCIL BILL NO. 2644 RESOLUTION NO. 1842 A RESOLUTION Of THE CITY COUNCIL Of THE CITY Of WOODBURN, OREGON APPROVING THE ACTIONS OF THE BOARD Of DIRECTORS OF THE HOSPITAL FACILITY AUTHORITY OF THE CITY OF SILVERTON, OREGON; AND RELATED MAnERS. WHEREAS, the City Council of the City of Woodburn, Oregon makes the following findings based on representations made by the Hospital Facility Authority of the City of Silverton, Oregon {the "Authority"} and Silverton Hospital, a nonprofit corporation organized and existing under the laws of the state of Oregon (the "Borrower"): A. The Authority has received a request from the Borrower to issue a Health facilities Revenue Note {Silverton Hospital Project}, Series 2006 {the "2006 Bond"}, in a principal amount not exceeding $11,000,000 to finance or refinance the costs of the following projects: (i) to refund all or a portion of the Authority's Promissory Note, Series A (Silverton Hospital Project). dated December 29, 2000 and originally issued in the aggregate principal amount of $10.000.000; (ii) to finance the costs of the acquisition of equipment, software and other intellectual property to provide and support patient care at Silverton Hospital and at the Tukwila Center for Health and Medicine and the Wellspring Medical Center; and (iii) to pay certain costs of issuance relating to the 2006 Bond (collectively, the "Project"). B. Section 147 of the Internal Revenue code of 1986 (the "Code"). requires that qualified 501 (c}(3) bonds, such as the 2006 Bond, be approved (1) by the applicable elected representatives of the governmental unit having jurisdiction over the area in which Project is located; and (2) by the applicable elected representatives of the governmental unit issuing such bonds. The proposed Projects are located inside the municipal boundaries of the Cities of Woodburn and Silverton, Oregon. As a result, the Cities of Woodburn and Silverton, Oregon must each approve of the issuance of the 2006 Bond by the Authority. C. On September 27, 2006 the Authority adopted a Bond Resolution approving the issuance of the 2006 Bond and the loan of the proceeds to the Borrower. D. The Authority conducted a public hearing on September 27, 2006 regarding the issuance and sale of the 2006 Bond. A copy of the Public Hearing Report is attached hereto as Exhibit A (the "Public Hearing Report"). Notice of the public hearing was pUblished in the Silverton Appeal and the Woodburn Independent on September 13. 2006. Affidavits of publication are attached hereto as Exhibit B. The public hearing is intended to provide a reasonable opportunity for members of the publiC to be heard by the Authority regarding the Project. E. The Authority and the Borrower have requested that the City Council approve the issuance of the 2006 Bond by the Authority to satisfy the public approval requirements of Section 147(f) of the Code. Page 1 - COUNCIL BILL NO. 2644 RESOLUTION NO. 1842 ... F. The City Council has been advised by bond counsel to the Authority that the principal of and interest on the 2006 Bond will not constitute a debt of the City of Woodburn, Oregon, and the Authority will structure the 2006 Bond so that the 2006 Bond will not be payable from a tax of any nature levied upon any property within the City of Woodburn, Oregon or any other political subdivision of the state of Oregon. The 2006 Bond will be payable only from the revenues and resources provided by the Borrower. G. The City has reviewed the Affidavits of Publication and the Public Hearing Report attached hereto as Exhibit A. The Public Hearing Report indicates that no written comments were received and no members of the public appeared at the public hearing to express their views on the proposed Project. THE CITY OF WOODBURN RESOLVES AS FOLLOWS: The City Council hereby approves of the issuance, sale, execution and delivery of the 2006 Bond by the Hospital Facility Authority of the City of Silverton, Oregon for purposes of Section 147 of the Code. This Resolution shall take effect immediately upon its adoption by the City Council. City Attorney Approved as to form: ?7.CYa~ Passed by the Council Submitted to the Mayor Approved by the Mayor 11, Filed in the Office of the Recorder ATTEST: !!1 Mary T e~ant City Recorder City of Woodburn, Oregon October 11. 2006 Page 2 - COUNCIL BILL NO. 2644 RESOLUTION NO. 1842 - BXHlBlT A. REPORT TO THE CITY COUNCIL OF THE CITY 0. WOODBURN. OJtEGON 1m: Public Hc.cu, It.epIdifta the HOlpini FKmty Authority of die a" 01 SDveftOD, Oteeoe H.eaIIb. Pac:i1itia 1lcveaue Note (SiIYtttoo Ho.pitaI Pmfect) Saia ~ OIl Slptanber 1.7. 2006. the !oud of Directoa of the Hospitsl ~ Autho.rity of the City of Silvettl:lft, Otepl (me "AutboUty") bckl a p\IbK harina at Si1venoo Holpitll, eafe Contenoc:e loom. 342 Fainiew Street. Silvutoa, Otegoa 97381 punu&ftt to the prcwiaiou of Scc:tioD 147(~ of the lcltea2al RcYeoue Code of 1986. Tbe Seaetuy ot tbt. Board of Ditectors DE !hit Authodty c:onducted IUCh haq m.c and 04 behalf of die Authority. Notice oE tbc public hc:uins." ~bed Scptcmb<< 13, 2006 in SiIwrlIIIf .AppuJ lAd the "'...... r".,."tIMI. n.. purpoee of the public heaI:iDg '\VIS to R:ceive on! 01: writtCG commcnlll &om the public ~. the propoted iaumce, sale, execution 8I1d de1i'lUY of a Health Facl.1itiea Reveauc No,- (Silvonon Hoepibl Pl:Ojecr), Saiea 2006 (the "2006 Hoodj, in . princ;qa.l &mOUDt nat to cu.eed SU .000,000, At 4:12 p.m. the Secretary convened the public: heuina Ind Wiuestt..d .11J o~ W writt:cA comments. No c:ownen" WIittd QC oa.L wac lubmit:ted to the Secrewy othe.t tbaa cOlntDen~ of teprelel1rstiv.. of Ouick, Herrinston" Sutcliffe lLP, Bond Counsel UId Special CoUOMl to the Autl1omy, and Silvutoll Hotpital who made pretentadoas in support of the 2006 Bond. At appa:ndmttely 4:18 p.m. the public bcui.ag wu adjourned. R.eapectEully submitted,. HOSPITAL PAClUTY AUTHOlUTY OP ~%r?: Sea:ctU)', Board oC DirectoD DATED: So!pteDbe% 2:1, 2006. EXijIB..rr B,-l Affidavit of Publication STATE OF OREGON, ss. County of Marion I, Nichole Lee DeBuse, being first duly sworn. depose and say I am General Manager, Woodburn Independent, a newspaper of general circulation u defined by ORS 193.010, and 193.020 printed and published at Woodburn in the aforesaid county and state, that the Notice of Public Hearing, a printed copy of which is hereto annexed, was published in the entire issue of said newspaper for the following issues: September 13, 2006. ~ Ru .kL&~ Subscribed and sworn to before me this 13th day of September, 2006 ~_~_ Go, ~~.i_ Notary Public for Oregon (My Commission Expires 9/12107) -~.... (j _ OFFICIAl.. SEAL MARIE C. BERNARD , NOTARY PUBllC-OREGON ; '",' COMMISSION NO. 371289 . !If COMMISSION EXP1RES SEPTEMBER 12,2001 ,'.- :~:-;.~ ,...." .. www.wooo.u............HIIT.CO.. .....SDAy. APT..... t~ 20M Legal Notices NOTICE OF PUBLIC HEARING Authority of the City of Silverton, Oregon (the "Issucr") of its Rev- enue and Refundinl Bonds, Se- ries 2006 (Silverton Hospital ~ jeet) in an aggregate principal amount not to exceed Sll.OOO,OOO (the "Bonds"). The issuance of the Bonda is subject to final approval by the Issuer and approvals by the City Councils of the cities of Silverton and Wood- burn, Oregon. The proceeds of the Bonds wiD be used to make a loan to the Sit- vetton Hospital (the "Borrower") for the projects described below. (1) RefundIng Componelll: An amount not exceeding $4.500,000 to refund the Issuer's outstanding Credit Agreement and Promissory Note, Series A (Silvenon Hospital Project), which fmanced or refi- nanced construction, improve- ment and equipping of the Bor- rower's health care facilities and related equipment (the "2000 Pro- ject"), located at the Borrower's campus at 342 Fairview Street. Silvmon. Oregon 97381; and (2) New Money COmpoMlIl: A total amount not exceeding $6,500,000 for the acquisition of equipment, software and other in- tellectual property to provide and support patient care (collectively, the "New Projects") at the follow- ing locations: (a) Silverton Hospi- tal located at 342 Fairview Street. Silvenon. Oregon 97381; (b) Tuk- wila Center for Health and Medi- cine located at 690 Glatt Circle. Woodburn, Oregon 97071; and (c) Wellspring Medical Center. . 1475 ML Hood A\'enue, Wood- burn, Oregon 97071. Up to $60500,000 of bonds may be is- sued to fmance assets at eacb of the locations indicated above, but not more than S6,500,OOO in the aggregate will be issued for the three locations C<lllectively. The Borrower will be the initial owner of all assets financed and refinanced by the Bonds. Section 147(0 of the Internal Revenue Code of 1986, as amended, requires that the is- suance of the Bonds be approved by the applicable elected repre- sentatives of (I) the governmental unit issuing the Bonds and (2) the governmental unit(s) having juris- diction over the area in whi(:h the Projecu are located. For the Is- suer to issue the Bonds. it is nec- essary that issuance of the Bonds be approved by boch the City Council of the City of Silverton, Oregon, as the elccted rqxcsenta- tivea of the governmental unit that is both issuing the Bonds and a governmental unit with jurisdic- tion over the area in which the 2000 Project and a portion of the New Projects arc located, and the City Council of the City of Wood- burn. OreiOn. as a governmental unit having jurisdiction over the area in which a portion of the New Projects are located. The principal of and intereit OIl the Bonds wiD not constitute a debt of the cities of Silnrton 01' Woodburn. Oregon. nor shall the Bonds be payable from a tax of any nature levied upon any prop- erty within the cities of Silvenon or Woodburn. Oregon, nor within any other political subdivision of the State of Oregon. The Bonds will be payable only from the rev- enues and resources provided by the Borrower. The purpose of the public bear- ing win be to provide a reason- able opportunity for members of the public to express their views, orally or in writing, regarding the issuance of the Bonds and the uses and purposes of the proceeds of the Bonds. The hearing wiD be conducted in a manner that pro- vides a reasonable opportunity for persons with differing views to be heard on the question of the is- suance of the Bonds. Written cOnUnenu also may be delivered at the public hearing or mailed to the Authority at the address indi- cated above. This notice is published pur- suant to the public approval re- quirements of Section 147(f) of the Internal Revenue Code of 1986, as amended and the regulations and rulings issued thereunder. HOSPITAL FACILITY AUTHORITY OF THE CITY OFSaVERTON,OREGON Published September 13. 2006 in the Woodburn Independent and The Silverton Appeal not less than 14 days prior to the meeting date. September 27. 2006 4:00 p.m. Silvertoo Hospital Cafe Conference Room 341 Falnlew Street SUverton, Orecon !n381 A public hearing will be held 011 Wednesday, September 21, ~. at 4;00 p.rn. at Sil\lcrton Hospital. Cafe Conference Room. 342 Fairview Street. Silverton. Oregon 97381. with respect to the issuance by the Hospital Facility , ..' Septal..... 17, 10M 4;. .... ....... ....... C... c:..tenMe ...... 3U ...... ..... SIhwtN, ana- mJl ~ public ..... will be hckI 011 ~ SCpanbar III 4:00 p.... .. SilnrtaD ~ Cafe QJlo._ 342 FIiniew .... S~ Orep mil. . '. to dill -- '" dill HOIpitaIPIlllilil;.~ oI1IIe City , .silvwtoa, ~ (die ~ of itI R.,.. .... BaedI. s.n..3006 (Sl1v""'~ Project) is. pribdpM imouat DOt .. aaed'Sll.ooo.ooo (tbe , n........ ct.. .. ildja to ftaIllppl'OVal ... .,pronIa by the at, ('~... 01.. citiea of S' 1DIl~ Orcp-. . . '.' . -'. : ..., .: .:: '. " '. ....... . 1t.e~ fit.. BoodI wiiI '- .......... ."'.to the stver- Hoephd: (dMt ~"'1'''' "'.'projlIcta dcecrillcd. below.' '. . . d)Itaa.6.a~~~ Aluma.'~aQUIl";~ '. =..... ............ .......... .' ."...... :.._",.Cl'edIt.:. '. . . . . .....~~s.ne.A(S~ .' .. ~).~"""'or~~~ . . .. equjppq t)f.. Bol1oweI'I bedl c:a . . 1IIIt.-...t~~ (dw"2OOQ Pioj~ IotWed .. ~ Borrowen CIDIpU&._ 342 Fairvin ..... ~ilvertaa,. 0ntIf-973'1;~.. :",:. '.' . " ,.. , ma'=~~~Aof~';;~ .. . ..~-~pIdeat ~ " '(lit) .. '. ~~.-.. ", . " . .;' .~fi .., .... . ..... ..... .,... ~ . ...:,.... ~ . . . . .. ....,. .'p . ,~"",..'..'':1':'' 'M _ . . ,. '., _ :~(c).~ '" .....' .' .. " . ..... )..,. ..' ;:;~{ , =mq,," ........::.... 1of~~~,~...-W\,:. . 001....... "".m.. ~ b.. ... , ull:",",,--,oMIU'.: .' . ~~. ". '. nD ~~.wliI>>'tba bUd!il ow-.:ot.ia .... fiDaoca4"'~bytlAc.BoadL" " .' \ '. '.:' _ ~~ . . ~. t. '. i _', .;.. ~147(t),;,...~~~9(1'_. , ~ .....lbItdal........of........ _~.,w.., dIo applicable cklcted ICp.c-iWi...a of 0) tW &tm:fnmcnIa1 UIIit lauIn,the BondIIIDd (2) the aovemiDeotal UDiI(I} baviol ;w ~ CMll' the .... ill wIricJJ the Ptojec:a. lie Ioeated. For ~~'~J"'~~J,~e"~""~tbe . ~ lie. ~ed bJi hoda Ilia cuY -~-~ i. cn;;c' SiJvw1Iaia. 0Np.. .. .. ...... Rtn~"Q 01_ ~... IIIIIIfal _k ..... bodl ~.. BondI ancl. pe.ddmQ! uIliI"'~ 1Mr......hI wbtdI1be 2000 Project and · -por-aa. oldie N_ PIojeo:ta _ IocaW; ....s .... CIty Council ~!b'.CIty ofWoodbum, Orep,.. JDYtIID1IentII UIlit havin, JwiIdic:doe OVS' the _ ill which. pc:lI'tjon of the New Projects are I~ '"'- PI'ind.... 01 met int.e.t OD the Bandt win DOt conati- lUle . debt of tile cftfes of Silverton or Woodburn. On!a0ll, nor W1J the Solidi bo ~Je Iha . to of any lJIhU'llft'/ed Upoa any ~ widiba the croce ofSilvatoa or Woodburn. Oreaoa. norwltNn any other political aubd1viaioa oflbe State ofOrcgoo. The ~ncU wiJ/ be payable only &om the revenues and resource8 pnmdecl by the Borrower. ~a1tit of JubIltathm STATE OF OREGON. } Co""ty of Marion, sa. I .. . Leala Thibeau.. .......... ............................ ..being Fint duly sworn, dispose and say that I am the principal clerk of the East Valley Newspapers, publisher of The Silverton Appeal, a newspaper of general circulation as defined by OR S 192.0\ 0 and 193.0210; printed and Published at Silverton in the aforesaid county and state; that the RE: PUBLIC NOTICE - SIL VERTON HOSPITAL - Revenue Bond Hearing Sherrl Grave. 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