April 27, 1982

 

PROCEEDINGS OF THE CITY COUNCIL OF SALT LAKE CITY, UTAH

TUESDAY, APRIL 27, 1982

 

THE CITY COUNCIL OF SALT LAKE CITY, UTAH, MET IN REGULAR SESSION ON TUESDAY, APRIL 27, 1982, AT 4:30 P.M. IN ROOM 211 CITY AND COUNTY BUILDING.

 

ON ROLL CALL THE FOLLOWING COUNCIL MEMBERS WERE PRESENT: RONALD J. WHITEHEAD ALICE SHEARER GRANT MABEY IONE M. DAVIS SYDNEY R. FONNESBECK EDWARD W. PARKER.

 

Councilmember Palmer DePaulis was absent from this meeting.

 

Council Chairperson Sydney R. Fonnesbeck presided at and conducted this meeting.

 

DEPARTMENTAL BUSINESS

 

CITY ATTORNEY

 

RE: Consider and adopt a resolution authorizing Issuance and sale of Hospital Revenue Bonds, Series 1982, Intermountain Health Care, Inc. Wally Miller, Assistant City Attorney, addressed the Council and explained that he had reviewed the documents involved for the enactment resolution and approved them as to form. Dick Christensen, Burrows, Smith & Co., addressed the Council and stated that approximately two years ago inducement proceedings were passed on this project and an attempt was made to enter the bond market. However, the market was too difficult at that time. He stated that there have been several attempts since then for long and short-term financing. Mr. Christensen stated that because the Intermountain Health Care master indenture was passed all other transactions take place under the master. He further stated that Orem and Sandy were enacting similar resolutions for IHC.

 

Councilmember Shearer moved and Councilmember Whitehead seconded to adopt Resolution 43 of 1982 authorizing the issuance and sale of Hospital Revenue Bonds, Series 1982, Intermountain Health Care, Inc., which motion carried, all members present voting aye.

Q 82-20

 

The meeting adjourned at 4:45 p.m.