RESOLUTION NO. ___
RESOLUTION OF THE COUNCIL OF THE CITY OF GLENDALE, CALIFORNIA
APPROVING THE ISSUANCE OF REVENUE BONDS BY THE CALIFORNIA
MUNICIPAL FINANCE AUTHORITY IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $60,000,000 TO FINANCE AND REFINANCE FACILITIES
FOR GATEWAYS HOSPITAL AND MENTAL HEALTH CENTER, AND CERTAIN
OTHER MATTERS RELATING THERETO
WHEREAS, Gateways Hospital and Mental Health Center, a nonprofit public benefit corporation as described in section 501(c)(3) of the Internal Revenue Code of 1986 (the “Borrower”), has requested that the California Municipal Finance Authority (the “Authority”) issue one or more series of revenue bonds in an aggregate principal amount not to exceed $60,000,000 (the “Bonds”), including but not limited to revenue bonds issued as part of a plan to:
(a) refinance an existing bank loan, a portion of the proceeds of which were used to:
(i) finance the acquisition of a former law school building located at 220 North Glendale Avenue in Glendale, California, to be used as forensic conditional release outpatient program and general administration facility (the “Law School Building”),
(ii) finance the acquisition of four residential cottages located at 215-217 North Everett Street, 223-225 North Everett Street, 231-231A North Everett Street and 233-235 North Everett Street in Glendale, California, to be used as Statewide Transitional Residential Program Services facilities, and (iii) finance the acquisition of a building located at 234-236 North Glendale Avenue in Glendale, California, to be used as rental property (currently leased by two tenants 234 by ITT Insurance Services and 236 by H & H Book Services); and
(b) finance the acquisition of two additional residential cottages located at 227 North Everett Street and 219-221 North Everett Street in Glendale, California, to be used as Statewide Transitional Residential Program Services facilities;
(collectively, the “Project”), and pay certain expenses in connection with the issuance of the Bonds; and
WHEREAS, an “applicable elected representative” of a jurisdiction in which the Project is located is required to approve the issuance of the Bonds under section 147(f) of the Internal Revenue Code of 1986 (the “Code”);
WHEREAS, the City Council of the City (the “City Council”) is the elected legislative body of the City and is an “applicable elected representative” for purposes of Section 147(f) of the Code;
WHEREAS, the Authority has requested that the City Council approve the issuance of the Bonds by the Authority in order to satisfy the public approval requirement of section 147(f) of the Code and the requirements of Section 4 of the Joint Exercise of Powers Agreement Relating to -2-
the California Municipal Finance Authority, dated as of January 1, 2004 (the “Agreement”), among certain local agencies, including the City; and
WHEREAS, pursuant to section 147(f) of the Code, the City Council has, following notice duly given, held a public hearing regarding the issuance of the Bonds, and now desires to approve the issuance of the Bonds by the Authority;
NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Glendale as follows:
Section 1. The foregoing recitals are true and correct.
Section 2. The Council hereby approves the issuance of the Bonds by the Authority, including but not limited to Bonds issued as part of a plan to finance the Project. It is the purpose and intent of the Council that this resolution constitute approval of the issuance of the Bonds by the Authority for the Project, for the purposes of (a) section 147(f) of the Code by the applicable elected representative of a governmental unit having jurisdiction over the area in which the Project is located, in accordance with said section 147(f) and (b) Section 4 of the Agreement.
Section 3. The officers of the City are hereby authorized and directed, jointly and severally, to do any and all things and to execute and deliver any and all documents which they deem necessary or advisable in order to carry out, give effect to and comply with the terms and intent of this resolution and the financing transaction approved hereby.
Section 4. The Clerk shall forward a certified copy of this Resolution to the Authority in care of its counsel:
Ronald E. Lee, Esq.
Jones Hall, A Professional Law Corporation
475 Sansome Street, Suite 1700
San Francisco, CA 94111
and to bond counsel:
Brian D. Quint, Esq.
Stradling Yocca Carlson & Rauth LLP
660 Newport Center Drive, Suite 1600
Newport Beach, CA 92660
Section 5. This resolution shall take effect immediately upon its adoption. -3-
ADOPTED this ____ day of ________, 2025
______________________________
Mayor
ATTEST:
______________________________
City Clerk
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES )
I, SUZIE ABAJIAN, Ph.D., Clerk of the City of Glendale, certify that the foregoing Resolution No. _______ was adopted by the City Council of the City of Glendale at a special meeting thereof, held on the 3rd day of June 2025, and that same was adopted by the following vote:
Ayes:
Noes:
Absent:
Abstain: