2013-0461
INTRODUCED BY: V.J. ST. PIERRE, JR., PARISH PRESIDENT
(BOND COUNSEL)
RESOLUTION NO. __________
Title
A resolution approving the structure and participants in a New Markets Tax Credit transaction and a commercial loan transaction (collectively, the "Transactions"); approving loans made to and guaranteed by Hospital Service District No. 1 of the Parish of St. Charles, State of Louisiana, and its Public Benefit Corporation in connection with the Transactions; and providing for other matters in connection therewith.
Body
WHEREAS, the Board of Commissioners of the Hospital Service District No. 1 of the Parish of St. Charles, State of Louisiana (the “District”), by resolution adopted on October 30, 2013, has authorized the execution of a proposed term sheet (the “Term Sheet”) in connection with the participation by the District in a New Markets Tax Credit transaction and a commercial loan transaction (collectively, the “Transactions”), relating to construction of a medical office building and related facilities in the District, under the Federal New Markets Tax Credit Program established under the Community Renewal Tax Relief Act of 2000; and,
WHEREAS, the Parish Council has created Hospital Service District No. 1 of the Parish of St. Charles, State of Louisiana (the "District"); and,
WHEREAS, the District has created Plantation View Medical Offices, Inc. (the "Corporation"), a public benefit corporation of the State of Louisiana, for the purpose of entering into the Transactions with respect to the Project; and,
WHEREAS, the District and the Corporation will enter into a Master Lease Agreement (the "Agreement") for the Project whereby the District will lease the Project from the Corporation and will be authorized to lease space in the Project to third parties in exchange for periodic rental payments to be made to the Corporation; and,
WHEREAS, the Council now desires to approve the Transactions for the benefit of the District and the Paris...
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