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1 <br /> RESOLUTION NO. 19212 <br /> 2 <br /> RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RIVERSIDE, <br /> 3 CALIFORNIA APPROVING A FINANCING TO BE UNDERTAKEN BY THE <br /> CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY <br /> 4 TO BENEFIT PARKVIEW COMMUNITY HOSPITAL MEDICAL CENTER <br /> 5 <br /> 6 WHEREAS, Parkview Community Hospital Medical Center, a nonprofit public benefit <br /> 7 corporation (the "Hospital"), has requested that the California Statewide Communities <br /> 8 Development Authority ("CSCDA") participate in a financing for the purpose of, among other <br /> 9 things, acquiring certain new medical equipment (the "Equipment") and refunding the Hospital's <br /> 10 indebtedness relating to the City of Riverside Hospital Revenue Refunding Bonds (Parkview <br /> 11 Community Hospital) 1985 Series A in the original principal amount of $11,500,000, the City of <br /> 12 Riverside Hospital Revenue Bonds (Parkview Community Hospital Medical Center) Series 1988 <br /> 13 in the original principal amount of $7,275,000 and the loan by the California Health Facilities <br /> 14 Authority to the Hospital in the original principal amount of $3,000,000 (collectively, the "Prior <br /> 15 Obligations"), the proceeds of the Prior Obligations were used to finance and refinance the <br /> 16 acquisition, improvement and equipping of certain health facilities owned by the Hospital (such <br /> 17 facilities, together with the Equipment, shall be collectively referred to as the "Facilities") located <br /> 18 or to be located in the City of Riverside (the "City"); <br /> 19 WHEREAS, the CSCDA and the Hospital will provide for the issuance of certain tax- <br /> 20 exempt obligations (the "Obligations") and the sale and delivery of such Obligations in connection <br /> 21 with the financing of the Equipment and the refunding of the Prior Obligations; <br /> 22 WHEREAS, in connection with the financing of the Equipment and the refunding of the <br /> 23 Prior Obligations, the CSCDA and the Hospital will enter into a financing agreement (the <br /> 24 "Financing Agreement") under which the Hospital will agree to make payments (the "Payments") <br /> 25 of principal, premium, if any, and interest with respect to the Obligations; <br /> 26 WHEREAS, the Obligations will be issued in an aggregate principal amount not to exceed <br /> 27 $15.0 million; <br /> <br />Attorney's Office <br />Street <br />CA 92522 <br />782-5567 <br /> <br /> <br />