Viewing: 8.- Public Hearing regarding the proposed issuance of two series of revenue bonds by the El Centro Financing Authority to assist in financing and refinancing of certain public capital improvements for the benefit of the El Centro Regional Medical Center

   Agenda
CALLTO ORDER:
ROLLCALLBY CITY CLERK
 
PLEDGE OFALLEGIANCE INVOCATION
CONSENTAGENDA
Consentagendaitemsareapprovedbyonemotion.Councilmembersormembersofthepublicmaypullconsent itemstobeconsideredseparatelyatatimedeterminedbytheMayor.


 
1.       ApproveFinancingAuthorityMinutesofDecember18,2012andNovember 18,2014
 
NEWBUSINESS
 
2.       DiscussionandanynecessaryactionregardingtheissuancebytheElCentro FinancingAuthorityof Hospital Revenue RefundingBonds (El Centro Regional MedicalCenterProject),Series2015AandHospitalRevenueRefunding Bonds,Series2015Btoassistinfinancingandrefinancingofcertainpublic capital improvements for thebenefit oftheElCentro Regional Medical Center
 
PRESENTATION:      ALEXWELLS, CHIEFFINANCIAL OFFICER,ECRMC
 
RECOMMENDATION:
 
 E XE C UTIVE DIR E C TOR ’ SR E C OMMEND ATION:
 
ApprovetheissuancebytheElCentroFinancingAuthority(the“Authority”)of HospitalRevenueRefundingBonds(ElCentroRegionalMedicalCenterProject), Series 2015A(the“Series2015ABonds”)andHospitalRevenueRefundingBonds (ElCentroRegionalMedicalCenterProject),Series2015B(the“Series2015B Bonds”and,togetherwiththeSeries2015ABonds,the“Series2015Bonds”)by adoptingthefollowing:
 
a)      AdoptResolutionNo.FA15-RESOLUTIONOFTHEGOVERNING BOARDOFTHEELCENTROFINANCINGAUTHORITYAUTHORIZINGTHE ISSUANCEOFNOTTOEXCEED$25,000,000AGGREGATEPRINCIPALAMOUNTOF ITSHOSPITALREVENUEREFUNDINGBONDS(ELCENTROREGIONALMEDICAL CENTERPROJECT) SERIES2015AANDNOT TOEXCEED$25,000,000AGGREGATE PRINCIPALAMOUNTOFITSHOSPITALREVENUEREFUNDINGBONDS(EL CENTROREGIONALMEDICALCENTERPROJECT)SERIES2015B;APPROVINGA TRUSTAGREEMENT,ANINSTALLMENTPURCHASEAGREEMENTAND AUTHORIZINGTHETAKINGOFCERTAINACTIONSINCONNECTIONTHEREWITH.
 
TheproceedsofthesaleoftheSeries2015Bondswillbeusedtofinanceand/or refinancecertainpubliccapitalimprovementsforthebenefitoftheElCentro RegionalMedicalCenter(the“MedicalCenter”),includingtherefundingofthe Authority’soutstandingInsuredHospitalRevenueBonds(ElCentroRegional MedicalCenterProject),Series2001(the“RefundedBonds”)andanoutstanding loan fromRabobank,N.A.(“Rabobank”) to the Medical Center.
 
 
PUBLICCOMMENTS
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ADJOURNMENT
 
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