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Home My WebLink AboutOrdinance 3312 y Pon FF FOR RECORD aiA ; xCh Co . CrRCurr Cl�EyER AR ORDINANCE NO , 3312 TmaorkMfn^ AN ORDINANCE AUTHORIZING THE FAYETTEVILLE PUBLIC FACILITIES BOARD TO ISSUE AND SELL $ 4 , 375 , 000 AGGREGATE PRINCIPAL AMOUNT ADJUST- ABLE RATE REVENUE BONDS TO REFUND SAID BOARD ' S OUTSTANDING REVENUE BONDS ISSUED TO FINANCE CONSTRUCTION OF CHARTER VISTA HOSPITAL . WHEREAS , the Fayetteville Public Facilities Board previously issued $ 5 , 000 , 000 aggregate principal amount of revenue bonds to provide funds for the acquisition , construction and equipping of Charter Vista Psychiatric Hospital ; and , WHEREAS , Charter Vista Hospital , Inc . desires to refund said revenue bonds ; and WHEREAS , the Fayetteville Board of Directors has conducted a public hearing on the proposed refunding bond issue ; and WHEREAS , notice of said public hearing was published in a newspaper of general circulation in the City of Fayetteville at least 14 days before said public hearing . NOW , THEREFORE , BE IT ORDAINED BY THE BOARD OF DIRECTORS OF THE CITY OF FAYETTEVILLE , ARKANSAS : Section 1 . The Board of Directors hereby authorizes the Fayetteville Public Facilities Board to issue and sell $ 4 , 375 , 000 aggregate principal amount Adjustable Rate Refunding Revenue Bonds ( Charter Vista Hospital , Inc . Project ) Series 1987 . The purpose for which said bonds are to be issued is to refund the Public Facilities Board ' s previously issued Psychiatric Hospital Revenue Bonds ( Series A ) ( Charter Vista Hospital , Inc . Project ) in the aggregate principal amount of $ 5 , 000 , 000 ( the " Prior Bonds " ) to provide funds for the acquisition , construction and equipping of a psychiatric hospital facility ( the " Project " ) . The proceeds may be used to make a loan to finance the cost of refunding the Prior Bonds , Section 2 . The Board of Directors hereby determines that the continued operation of a psychiatric hospital in the City of Fayetteville is essential to the public health , safety and welfare and hereby determines that the immediate passage of this ordinance is necessary for the continued operation of a psychiatric hospi - tal . Therefore , an emergency is hereby declared to exist and this IIBEA 1258PAGE9v0 - z - ordinance being necessary for the public health , safety and welfare shall be in full force and effect from and after its passage and approval . PASSED AND APPROVED this 17th day of November 19876 APPR,]O'V�E�D_ By ' %iL_ .4 .'L rJ Mclyor AT S '�," r ABY t J• ; eU/ . ', 111 Rerk LIBER 1258PAGE901 CERTIFICATE OF RECORD 1, Alma Kollmeyer, Circuit Clerk and Ex-officio Recorder for \Vashing!on County„ State of Arkansas SS Arkansas, do hereby certify thet this in- City of Fayetteville strument was filed for record in my office I, Suzanne C. McWethy, City Clerk and as indicated hereon and ;lie same is now Ex-Officio recorder for the City of Fayetteville, duly recorded with the acknowledgement do hereby certify that the annexed or fore- and certificate thereon in Record Book and going is of record in my office and the same ap- Page as indicated thereon. pears in Ordinance & Resolution book IN WITNESS WHEREOF, I have hereunto X x I ✓ at page 3 Witness my set my hand and affixed the seal of said /yl„�� Court on the date indicated hereory han and j1Ctlis � l%! day of g � Alma Kollmey",, Circuit Clerk and , Ex-officio Record City e and Ex-Officio R _order by o ORDINANCE No4M17 A N O R D 1 N A_ N C E AUTHORIZING THE FAYETTEVILLE PUBLIC FACILITIES BOARD TO ISSUE AND SELL $4,375,000 AGGREGATE PRINCIPAL STATE of ARKANSAS AMOUNT' ADJUSTABLE RATE REVENUE BONDS as. TO R_. V U N D SAID Count}' 0( tV a.... .. on BOAR OUTSTANDING R E V NUE BONDS r ISSUED TO FINANCE ) CON STRVCTION OF ' (( f( ( " �'- . , /:.,/ , ;. r ;' r ( 'l hereby certify that l CHARTER VISTA [. H3H yI.Tfkl a mthepublisherof "HF NOR't'ii11' t;Sl' ARFT \KSAS TIM1tES. adail}• newspaper 7jERIIAS, the Fa ;ei' having 1 second class mailing rivilr ile 06bl c Facuille, g : k p ge. and being not less than four pages of Board previously issued five columns each, published at a fixed place of business and at a fixed Idaily ) SSj000'000 ;aggregate prim : intervals continuousl \ in the City of Faveneeille. County of Washington. Arkansas ci0$ly arhouht :;of revenue bonds to .ofdv7 ,, funds for for more than a period of twelve months, circulated and distributed from an the acquisition; C , ,struction established place of business to subscribers and readers generally of all classes and equipping of Charter Vista Psychiatric hospital. In the City and County for a definite price for each copy, or a fixed price per and, .•Fr „• annum, which price leas fixed at what is considered the value of the publication, WHEREAS; Ch., l Vista Hospital, Inc. desire s to re- based upon the news calueand service itcontains, that at least [illy Percent fund said revenue �-Monds,, of the subscribers thereto have paid cash for their subscriptions to the newspaper and ' or Its agents or through recognized news dealers over a period of at least six WHEREAS, the .Fdyet tevihe Board of Directors months; and that the said newspaper publishes an average of more than forty has conducted a public hear- percent news matter. ing on theproposedvefum ding b6ndi.6sueiand WHEREAS, n_ oucef ti said I further certify that the legal notice hereto attached in the matter of public hearing Vias°publish- . ed In a newspaperof general circultitioh :in then(C i` of Fa Yefte.llle at leas}''14tr�a Ys ( "l (l. t i 2 !(. -vL (r i before said public hearing. NOW, THEREFORE, BE / IT ORDAINED BY THE was published in the regular daily issue of said newspaper for BOARD OF DIRECTORS OF THE CITY OF FAYET- consecutive Insertions as follows: TEVILLE, ARKANSAS : n n •( Section 1 . The Board of r / to (,c.rp (.c Directors hereby authorizes The first In5erl10❑ 0❑ the da}' Of 1 19 (1__ the Fayetteville Public Fa cuines Board io issuel Znd the second insertion on the day of 19 sell $2375,000 aggregate .principal amount Adjustable — Rate Refunding Revenue the third insertion on the day of 19 . Bonds ( Charter Vista Hospital , Inc . Project ) Series 1987.� The purpose for and the fourth insertion on the da;: of _ 19 which said bonds are to be •'issued is fo refund the Public Facilities Board's previous ly issued ' Psych iatric Hospital Revenue Bonds � � �� ( series n) (Charter Vista Sworn to and subscribed before me on this.,_, 2LL— day of Hospital, Inc. piec aggregate principal amount J ��j�.l .(.i„ r� �( yi, 19 � a of $5,000,000 ( the " Prior Bonds”) to provide funds for '�` l,/ the acquisition,construct ion C. ("tLL Ij'�.Fl; l_ _ and equipping o'.f., a psychiatric hospital facility Not n b11C — (the "Project') . Thaoftro ceeds maybe used to eke a loan.' to ijnance the! east of My Commission Expires: ,refunding the Prior Bonds. Section '7. The ; Board of � Direetors heraby" deter- mines that tbey(Lontinued ,operation .of a.lp{ychiatr is hospital in the City of Fayet- ; Inville is esSerfilal to the :public Tea Np.Jf6ajetY and weuare and her� , - 1. Y. deter- Fees for Printing mines. that - the'='Irnmediate 1,passa6elof this ordinance is necessary for thecontinued COSI of Proof ---- --- opefation of . a . psychiatric hospitaL1 Therefore, an e1rier9enc Y.-ais heretiy Total � �- dealarerFto exist anti This Qr- dih'ance,gein, gqecessnry, or the publl'dhealth; safety;and welfare 'sheilltbe in full force and effect irorn and after its passa^1 4nd approval; PASSED AND"AfiPR'Uv:' ED this 171h day of November, 1987., 1 i `#PP RPVE [4 By: Maril ynJ�nsoni .r 9ayof+ ATTEST By : Suzanne MCWelhy City Clerk