Resolution 1996-480
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OCT 2 2 1996
RESOLUTION NO. 96-480
A RESOLUTION APPROVING THE ISSUANCE BY THE CITY OF
NAPLES, FLORIDA OF ITS CITY OF NAPLES, FLORIDA, HOSPITAL
REVENUE BONDS (NAPLES COMMUNITY HOSPITAL, INC. PROJECT),
SERIES 1996 IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO
EXCEED $40,000,000 FOR THE PURPOSE OF MAKING A LOAN TO
NAPLES COMMUNITY HOSPITAL, INC. TO BE USED (A) TO REFUND,
ON A CURRENT BASIS, ALL OR A PORTION OF THE OUTSTANDING
PRINCIPAL AMOUNT OF CITY OF NAPLES, FLORIDA, HOSPITAL
REVENUE BONDS (NAPLES COMMUNITY HOSPITAL, INC. PROJECT),
SERIES 1992, (B) TO PAY ALL OR A PORTION OF THE COSTS OF
A CAPITAL PROJECT FOR HEALTH CARE FACILITIES AND (C) TO
PAY ALL OR A PORTION OF THE COST OF CREDIT ENHANCEM~NT
AND THE COSTS ASSOCIATED WITH THE ISSUANCE OF THE BONDS;
APPROVING THE PLAN OF FINANCING, THE REFUNDING OF THE
SERIES 1992 BONDS AND THE LOCATIONS AND NATURE OF THE
PROJECT; PROVIDING FOR SEVERABILITY, CONFLICTS AND
EFFECTIVE DATE.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS OF COLLIER COUNTY, FLORIDA, THAT:
SECTION 1. Authoritv for this Resolution. This resolution
is adopted by the Board of County commissioners (the "Board")
pursuant to the provisions of Section 125.01(1) (z), Florida
Statutes, and section 147(f) of the Internal Revenue Code of 1986,
as amended (the "Code").
SECTION 2.
determined that:
Findinqs. It is hereby found, ascertained and
(1) The City Council of the City of Naples (the "city"),
following two public readings held on October 2, 1996 and
October 16, 1996, and a public hearing held on October
16, 1996, adopted city Ordinance No. 96-7842 (the "Bond
Ordinance") authorizing the issuance bythe City of
Naples of its city of Naples, Florida, Hospital Revenue
Bonds (Naples community Hospital, Inc. project), Series
1996 in an aggregate principal amount not to exceed
$40,000,000 (the "Bonds'l\ for the purpose of loaning the
proceeds of such Bonds to Naples community Hospital,
Inc., a not-for-profit Florida corporation (the
"Hospital"), to be used principally (A) to payor
reimburse the Hospital for all or any part of the "cost"
of a health care facilities capital project (the
"Project") consisting of (i) the construction and
equipping of an energy and utilities management system,
(ii) renovating certain portions of the existing health
care facilities of the Hospital at Naples community
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OCT 22 199&r
Hospital which is located at 350 7th Street, North,
Naples, Florida, and (Hi) acquiring certain capital
equipment for use in or in connection with the health
care facilities of the Hospital at Naples Community
Hospital and North Collier Hospital which is located in
an unincorporated area of Collier County at 11190 Health
Park Boulevard, Naples, Florida; and (B) to provide for
the refunding, on a current basis, of all or a portion of
the outstanding principal amount of City of Naples,
Florida, Hospital Revenue Bonds (Naples Community
Hospital, Inc. Project), Series 1992 (the "Series 1992
Bonds"), the proceeds of which were used principally to
pay and reimburse the Hospital for all or a portion of
the cost of a health care facilities capital project (the
"1992 project") consisting primarily of: (i) the
construction of a seven level parking garage of
approximately 476,000 square feet, renovations at Naples
Community Hospital relating to a special procedures x-ray
room and M.R.I. facilities, the acquisition and
installation of major movable equipment, including, but
not limited to, a laboratory information system, a linear
accelerator, M.R.1. equipment, a PBX communication system
and equipment for the special procedures x-ray room, all
located at Naples Community Hospital, and (ii) the
remodeling of space at North Collier Hospital for use as
a nursery and the acquisition and installation of major
movable equipment at North Collier Hospital. The initial
owner, operator and manager of the Project and of the
facilities financed by the Series 1992 Bonds is Naples
Community Hospital, Inc. The Bonds will be special,
limited obligations of the City and will be payable
solely from and secured by payments to be made by the
Hospital. The Bonds will not constitute a debt, a pledge
of the faith and credit or taxing power of the City,
Collier county, the State of Florida or any other
political SUbdivision or public body, and the holders of
the Bonds will have no right to compel the exercise of
the City's taxing power for the repayment of the Bonds
and debt service thereon.
(2) The Bonds are to be issued pursuant to the provisions of
Part II of Chapter 159, Florida Statutes. The City has
by the Bond Ordinance, a copy of which has been provided
to this Board, approved the issuance of the Bonds, the
plan of financing, the refunding of the Series 1992 Bonds
and the locations and nature of the Project and the 1992
Project and has made findings required by Part II of
Chapter 159, Florida Statutes.
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OCT 2 2 19~-
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(3) The City of Naples has provided to this Board a copy of
the notice (the "TEFRA Notice") of a public hearing which
was held on October 16, 1996, prior to the adoption of
the Bond Ordinance, together with an extract of minutes
relating to the public hearing and the adoption of the
Bond Ordinance.
(4) Portions of the Project are located outside the City in
the unincorporated area of Collier County as set forth in
the TEFRA Notice and the Bond Ordinance and, therefore,
the City has requested the Board to approve the issuance
of the Bonds, the plan of financing, the refunding of the
Series 1992 Bonds, and the locations and nature of the
Project and the 1992 Project, pursuant to the provisions
of Section 125.01(1) (z), Florida Statute3, and Section
147(f) of the Code.
(5) It is desirable and will serve a public purpose for the
Board to grant such approval.
(6) This Resolution shall in no manner obligate the County to
provide any public services or facilities for the project
or the 1992 project except as otherwise required by law.
SECTION 3. Applicable Elected Representative Approval.
The Board of County Commissioners, acting as the "applicable
elected representative" of Collier County, Florida, hereby approves
(i) the issuance by the City of Naples, Florida, of its City of
Naples, Florida, Hospital Revenue Bonds (Naples community Hospital,
Inc. Project), Series 1996 in an aggregate amount not to exceed
$40,000,000 for the principal purposes of financing all or any
portion of the Project and refunding the Series 1992 Bonds and
loaning the proceeds of the Bonds to Naples community Hospital,
Inc. for the purposes described in the Bond Ordinance and the TEFRA
Notice and (ii) the plan of financing and the refunding of the
Series 1992 Bonds and the locations and nature of the Project and
the 1992 project all described in the Bond Ordinance and the TEFRA
Notice. This approval is given pursuant to the authority described
in Section 1 hereof and is given in order to meet the requirements
of Section 147(f) of the Code. The approval herein granted in no
way obligates the County in any manner for the payment of the Bonds
or debt service thereon and shall not be deemed to impose any
liability or obligation upon the County or any of its officials or
employees in connection with the sale and issuance of the Bonds by
the City. Further, the approval herein is not intended to grant
and does not grant any vested rights or special consideration
regarding comprehensive plan, zoning, building or other land use
matters.
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