2003-1270-Resolution No. 2003-111 Recorded 9/29/2003COUNTY OFFICIAL
TES
NANCYUBLANKENSHIP, COUNTY CLERKS Q 2003.1270
REV ED COMMISSIONERS' JOURNAL 09/29/2003 02:42:44 PM
a LEGAL COUNSEL II I I I II I I I II II VIII I II I II II III
2003-12 0
BEFORE THE BOARD OF COUNTY COMMISSIONERS
OF DESCHUTES COUNTY, OREGON
A Resolution Approving the Execution and * RESOLUTION NO. 2003-111
Delivery of a Master Lease and Sublease
Agreement by The Hospital Facility Authority of
Deschutes County, Oregon, in an amount not to
exceed $13,500,000.
WHEREAS, The Hospital Facility Authority of Deschutes County, Oregon (the
"Authority") has received a request from Cascade Health Services, Inc., a non-profit corporation
organized and existing under the laws of the State of Oregon ("CHS") to approve the execution
and delivery by the Authority of a Master Lease and Sublease Agreement (the "Master Lease
Agreement") among the Authority as lessee (the "Lessee"), CHS as Sub -Lessee (the "Sub -
Lessee") and Fleet Capital Leasing Healthcare Finance, a division of Fleet Business Credit, LLC,
as lessor (the "Lessor") for the purpose of financing the costs of upgrading the central utility
plant and related energy management systems at St. Charles Medical Center in a principal
amount not exceeding $13,500,000 (the "Project") and to pay all issuance costs associated
thereto; and
WHEREAS, on September 3, 2003 the Authority adopted an Inducement Resolution in
which the Authority agreed to use its best efforts, in cooperation with CHS, to execute and
deliver the Master Lease Agreement pursuant to law and to sublease the Project to CHS on the
terms and conditions set forth in the Master Lease; and
WHEREAS, the principal of and interest on the Master Lease Agreement will not constitute a
debt of Deschutes County nor shall the Master Lease Agreement be payable from a tax of any
nature levied upon any property within Deschutes County, Oregon nor any other political
subdivision of the State of Oregon. The Master Lease Agreement will be payable only from the
revenues and resources provided by CHS; and
WHEREAS, Section 147(f) of the Internal Revenue Code of 1986 (the "Code") requires
that qualified 501(c)(3) "bonds" (in this case the Master Lease Agreement) be approved by the
applicable elected representatives of the governmental unit issuing such "bonds" and the elected
representatives of the governmental unit having jurisdiction over the area in which the Project is
located; and
Page 1 of 2
Resolution No. 2003-111
WHEREAS, the Board of County Commissioners of Deschutes County, Oregon (the
"Board"), as the applicable elected representatives of the governmental unit executing and
delivering the Master Lease Agreement (the Authority), and as the governmental unit having
jurisdiction over the area in which the Project is located, must approve of the Master Lease
Agreement following a public hearing. Notice of the public hearing held by the Board was
published September 9, 2003 in The Bend Bulletin. The Board finds that such publication was
reasonable public notice of such hearing. The public hearing is intended to provide a reasonable
opportunity for members of the public to be heard by the Board; and
WHEREAS, the Board conducted a public hearing at 10:00 a.m. this day and finds that it
would be in the best interest of the citizens of Deschutes County to approve of the execution and
delivery of the Master Lease Agreement pursuant to the requirements of Section 147(f) of the
Code; now, therefore,
BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF
DESCHUTES COUNTY, OREGON, as follows:
As the applicable elected representatives of the governmental unit having jurisdiction
over the Authority and as the applicable elected representatives of the governmental unit having
jurisdiction over the area in which the Project is located, and having held the public hearing, the
Board approves of the execution and delivery of the Master Lease Agreement by the Authority.
DATED this �/ day of v� 2003.
BOARD OF LINTY COMMISSIONERS OF
DE=JWCCOUNTY, OREGON
/�
R. L
TOM DEWOLF, Cominissi.9r,er
DALY,
ATTEST:
Recording Secretary
Resolution No. 2003-111 Page 2 of 2