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________________________________________________________________________________________________ <br />JOINT CITY COUNCIL/SUCCESSOR AGENCY BOARD/ December 18, 2017 <br />PUBLIC FINANCING AUTHORITY MINUTES PAGE 5 <br /> A. Approve claims and checks dated December 18, 2017 and the usual <br />and necessary payments through January 8, 2018 (303) <br /> MINUTE ORDER 17-234 <br /> <br />7. PUBLIC HEARING(S) AGENDA PAGE NUMBER 314 <br /> <br /> A. Conduct a public hearing and adopt a resolution approving the <br />issuance of tax-exempt notes by the California Public Finance <br />Authority for the benefit of Verity Health System of California, Inc. (205) <br /> <br />1. Staff Report; <br />Mark Waxman, Verity Health System, General Counsel, presented the <br />staff report. <br /> <br />2. Open public hearing; <br />Mayor Bain opened the public hearing. <br /> <br />3. Hear public comment; <br />There were no public speakers. <br /> <br />4. Close public hearing; <br />M/S Seybert/Gee to close the public hearing. Motion carried 5-0 by <br />voice vote, with Council Member Aguirre and Council Member <br />Masur absent. <br /> <br />5. Council discussion; <br /> <br /> Recommendation: <br />1. Conduct a public hearing on the issuance of tax-exempt notes (the <br />2017 Notes) by the California Public Finance Authority (CalPFA) for <br />the benefit of Verity Health System of California, Inc. (Verity Health) in <br />an aggregate amount not to exceed $25,000,000 to finance and <br />refinance working capital needs of Verity Health for operating costs at <br />its headquarters located in the City of Redwood City and at health <br />care facilities in other communities in California operated by Verity <br />Health and its affiliates; and <br />2. After the hearing, adopt the Approving Resolution (Attachment 1), <br />which approves the issuance of the 2017 Notes by CalPFA <br />M/S Seybert/Borgens to Conduct a public hearing on the issuance of tax- <br />exempt notes (the 2017 Notes) by the California Public Finance Authority <br />(CalPFA) for the benefit of Verity Health System of California, Inc. (Verity <br />Health) in an aggregate amount not to exceed $25,000,000 to finance and <br />refinance working capital needs of Verity Health for operating costs at its <br />headquarters located in the City of Redwood City and at health care facilities <br />in other communities in California operated by Verity Health and its affiliates <br />and adopt the Approving Resolution, which approves the issuance of the <br />2017 Notes by CalPFA. Motion carried 5-0 by electronic vote, with <br />Council Member Aguirre and Council Member Masur absent. <br /> <br />6.1.D. - Page 5