Newspaper article THE JOURNAL RECORD


Newspaper article THE JOURNAL RECORD


Article excerpt

(83714) NOTICE The Board of County Commissioners of Oklahoma County, State of Oklahoma, met in regular session in the Commissioners' Office in the County Courthouse Annex, 320 Robert S. Kerr Avenue, Oklahoma City, Oklahoma, on the 2nd day of September, 1986, at 9:00 o'clock a.m.

PRESENT: F.G. "Buck" Buchanan, Fred Snyder, Shirley A. Darrell


(Notice of the schedule of regular meetings of the Board of County Commissioners for the calendar year 1986 was given in writing to the County Clerk and public notice of this meeting was posted in prominent view at the office of the Board twenty-four (24) hours prior to this meeting, excluding Saturdays, Sundays and legal holidays, all in compliance with the Oklahoma Open Meeting Act).

(Other Proceedings) THEREUPON, a Resolution entitled

A Resolution approving issuance by the Oklahoma County Industrial Authority of its Industrial Development Revenue Bonds, 1986 Series A (Westlake Nurs ing Center Project), in the principal amount of $4,000,000; waiving competi tive bidding of sale of the bonds and authorizing their sale on a negotiated basis; and containing other provisions relating thereto

was introduced by Commissioner Buchanan, was read in full by the Clerk, and upon motion by Commissioner Snyder, seconded by Commissioner Darrell, was adopted by the following vote:

AYE: Buchanan, Snyder, Darrell

NAY: None

Said Resolution was thereupon signed by the Chairman of the Board of County Commissioners, attested by the County Clerk and sealed with the seal of said County, and is as follows:

Resolution #215-86 WHEREAS, on May 1, 1981, there was executed and delivered a Trust Indenture for the use and benefit of Oklahoma County, Oklahoma (herein called "County") under the authority of and pursuant to the provisions of Title 60, Oklahoma Statutes 1981, Section 176 et seq., (the "Act"), as amended by an Amendment to Trust Indenture dated as of May 5, 1982, duly establishing a public trust and an agency of the State of Oklahoma (the "State") for public purposes as therein provided, to be known as the "Oklahoma County Industrial Authority" (herein called the "Authori ty"); and

WHEREAS, the Authority is authorized under its Trust Indenture, as amended, and the Act to issue revenues bonds, notes or other evidences of indebtedness on behalf of the County to provide funds to finance the costs of acquiring land, and constructing, developing and/or furnishing of buildings, equipment and related facil ities for the purpose of providing adequate health care services, including nursing home facilities; and

WHEREAS, the Authority proposed to provide nursing care to residents of the County and to provide additional employment in the County by financing part of the cost of acquiring, constructing, developing and equipping a 120-bed intermediate care nursing home facility (the "Facilities") located within the City of Oklahoma City, Oklahoma County, Oklahoma (the "Project"), to be initially owned and operated by Westlake Nursing Home Limited Partnership, an Oklahoma general partnership (the "Owner"), and mortgaged to the Authority; and

WHEREAS, the County hereby finds and declares that there is a definite need for the Facilities within the County; and

WHEREAS, the issuance of the Bonds by the Oklahoma County Industrial Au thority approved hereby and the utilization of the net proceeds for the intended purposes should benefit the residents of the County and surrounding area. …

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