SR 06:128 - Laserfiche WebLink

RESOLUTION NO. A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PLEASANTON APPROVING A TAX-EXEMPT BOND FINANCING TO BE ISSUED BY THE CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY TO BENEFIT KAISER PERMANENTE WHEREAS, Kaiser Foundation Hospitals, Kaiser Foundation Health Plan, Inc., Kaiser Health Plan Asset Management, Inc., Kaiser Hospital Asset Management, Inc., each a nonprofit public benefit corporation (collectively, "Kaiser"), have requested that the California Statewide Communities Development Authority (the "Authority") issue bonds in one or more series in an aggregate principal amount not to exceed $800,000,000 (the "Bonds") for the purpose of, among other things, financing and refinancing the cost of acquisition, construction, improvement, equipping, renovation, rehabilitation, remodeling and other capital projects (the "Financing") of certain health, parking and other support facilities owned or operated by Kaiser Foundation Hospitals or one of its affiliates, including the facility known as Pleasanton Information Technology Campus (the "Facilities") located in the City of Pleasant on (the "City"); WHEREAS, pursuant to Section 147(f) of the Internal Revenue Code of 1986 (the "Code"), the issuance of the Bonds by the Authority must be approved by the City because the Facilities are located within the territorial limits of the City; WHEREAS, the City Council of the City (the "Council") is the elected legislative body of the City and is one of the applicable elected representatives required to approve the issuance of the Bonds under Section 147(f) ofthe Code; WHEREAS, the Authority has requested that the Council approve the issuance of the Bonds by the Authority in order to satisfy the public approval requirement of Section 147(f) of the Code and the requirements of Section 9 of the Amended and Restated Joint Exercise of Powers Agreement, dated as of June 1, 1988 (the "Agreement"), among certain local agencies, including the City; and WHEREAS, the Authority is also requesting that the Council approve the issuance of any refunding bonds hereafter issued by the Authority for the purpose of refinancing the Bonds which financed the Facilities (the "Refunding Bonds"), but only in such cases where federal tax laws would not require additional consideration or approval by the Council; and WHEREAS, pursuant to Section 147(f) of the Code, the Council has, following notice duly given, held a public hearing regarding the issuance of the Bonds, and now desires to approve the issuance of the Bonds by the Authority; NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Pleasanton as follows: Section 1. The Council hereby approves the issuance of the Bonds and Refunding Bonds by the Authority. It is the purpose and intent of the Council that this DOCSSCl:368047.1