Meeting Time: April 16, 2024 at 5:00pm MDT
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Agenda Item

16.a) Resolution No. 24-42 - IHC Health Services, Inc. Considering for adoption a resolution authorizing the issuance and sale by the City of Riverton, Utah (the “City”) of its Hospital Revenue Refunding Bonds, Series 2024 (Intermountain Health), in an aggregate principal amount not to exceed $200,000,000 and the loan of the proceeds thereof to IHC Health Services, Inc., a Utah nonprofit corporation (“Health Services”) for the purposes of (i) currently refunding the outstanding City of Riverton, Utah Hospital Revenue Refunding Bonds, Series 2012A (IHC Health Services, Inc.), issued by the City in the original aggregate principal amount of $200,000,000, and (ii) paying all or a portion of costs of issuing the Bonds if deemed necessary or desirable by Health Services; said Bonds and all obligations of the City in connection with such transaction to be payable solely and exclusively from the revenues arising from the pledge of a note of Health Services and certain of its affiliates given as security for said Bonds and in no event to constitute a general obligation or liability of the City or a charge against its general credit or taxing powers; authorizing the execution and delivery of a Loan Agreement, a Bond Trust Indenture, a Tax Exemption Certificate and Agreement and a Bond Purchase Agreement, in connection with such transaction; repealing all ordinances, resolutions or portions thereof in conflict with the provisions hereof; and related matters - Ryan Carter, City Attorney