0379 36
RESOLUTION NO. 3 7 9 (#2
FOR THE PURPOSE OF DEMONSTRATING THE INTENT OF THE CITY COUNCIL
OF THE CITY OF JACKSONVILLE TO AUTHORIZE THE REFUNDING OF REVENUE
BONDS FOR REBSAMEN REGIONAL MEDICAL CENTER AND FOR OTHER PURPOSES.
WHEREAS, the Rebsamen Regional Medical Center Board of
Commissioners has requested this body to demonstrate its
willingness to authorize refunding of the hospital revenue bonds;
and,
WHEREAS, the refunding of said bonds would result in sub-
stantial savings to the hospital in interest charges, which would
ultimately result in savings to the citizens of Jacksonville as
patients of said hospital;
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF JACKSONVILLE, ARKANSAS, THAT:
SECTION 1: Upon an appropriate demonstration of reduction
in interest costs, hospital refunding revenue bonds (the
"Refunding Bonds ") will be authorized by the City Council for the
purpose of refunding the Bonds at lower rate of interest.
SECTION 2: That any such Refunding Bonds will be
designated "qualified tax - exempt obligations ".
SECTION 3: That the City will comply with the require-
ments of the Tax Reform Act of 1986 for the designation of any
such Refunding Bonds as "qualified tax - exempt obligations ".
APPROVED AND ADOPTED THIS 19TH DAY OF FEBRUARY, 1987.
CITY OF JACKSONVILLE, ARKANSAS
1
BY: AIL& OL.,-.
TOMMY SWAI - AYOR
ATTEST:
LULL .� LEONARD, C CLERK
APPROVED AS TO FORM:
IikYATTORNEY