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the reorganization for the governance of the Facilities; and
<br /> WHEREAS, the Hospital Trustees have approved the lease which will
<br />transfer the operation and management of the Facilities to Lakewood Hospital
<br />Association; and
<br />
<br /> WHEREAS, for the reasons discussed above'and as authorized by
<br />Sections 140.03 and 140.05, Ohio Revised Code, this Council has determined
<br />that it is in the best interests of Lakewood Hospital, their patients, and the
<br />taxpayers and residents of this City that the operation, maintenance and
<br />management of the Facilities be transferred from the Hospital Trustees to
<br />Lakewood Hospital Association on the terms and conditions provided in a lease
<br />by and between Lakewood Hospital Association and this City in substantially
<br />the form now on file with the Clerk of Council, with such changes as may be
<br />made in accordance with this Ordinance (the "Lease"); and
<br />
<br /> WHEREAS, the Lease requires Lakewood Hospital Association to continue
<br />the existing policy of the Hospital lrustees of providing inpatient and emer-
<br />gency hospital services to indigent residents of this City, without regard to
<br />their ability to pay, and to pay the principal of and any premium and interest
<br />on the City's $31,185,000 Hospital Improvement Bonds, Series lg83-A and
<br />$3,850,000 Six-Month Demand Floating Rate Subordinated Hospital Improvement
<br />Revenue Bonds, Series 1983 (collectively the "Series 1983 Bonds"), which are
<br />secured by Trust Indentures, dated as of March 15, 1983 and November l, 1983,
<br />respectively (collectively the "Indentures") between this City and National
<br />City Bank and Society National Bank, each as trustee {collectively the "Bond
<br />Trustees");
<br />
<br /> BE IT ORDAINED by the Council of 'the City of Lakewood, Cuyahoga
<br /> County, Ohio two-thirds of the members thereof voting affirmatively~
<br />
<br /> Section 1. This Council finds and determines that Lakewood Hospital
<br /> Association is a "hospital agency" and "nonprofit hospital agency" within the
<br /> meanings of divisions (A) and (C), respectively, of Section 140.O1, Ohio
<br /> Revised Code, the City is a "hospital agency" and a "public hospital agency"
<br /> within the meanings of divisions (A) and (B), respectively, of Section 140.O1,
<br /> Ohio Revised Code, the Facilities are "hospital facilities" within the meaning
<br /> of division (E) of Section 140.O1, Ohio Revised Code, and this City is autho-
<br /> rized by its Charter, Sections 140.03 and 140.05, Ohio Revised Code, and the
<br /> Indentures to lease the Facilities to Lakewood Hospital Association pursuant
<br /> to, and under the terms and conditions provided in, the Lease.
<br />
<br /> Section 2. The Council finds and determines that: (i) the lease of
<br /> the Facilities to Lakewood Hospital Association pursuant to the Lease will
<br /> better provide for the health and welfare of the people of this City and the
<br /> State of Ohio by enhancing the availability, efficiency and the economy of
<br /> hospital facilities and the services rendered thereby, by continuing the
<br /> policy of the Hospital Trustees to provide hospital care to residents of this
<br /> City without regard to their ability to pay, providing for economies in oper-
<br /> ation and more effective health services, by facilitating participation in
<br /> federal, state and other programs for assistance in meeting the costs of
<br /> hospital facilities and the financing thereof, and by providing more efficient
<br /> operation of hospital facilities for the service of the general public without
<br /> discrimination by reason of race, sex, creed, color or national origin~ (ii)
<br /> that this City will be duly benefited by the Lease and (iii) the Lease has
<br /> been approved by the Hospital Trustees.
<br />
<br /> Section 3. In consideration of the rental payments to be made by the
<br /> Lakewood Hospital Association under the Lease and the covenants and other
<br /> obligations of Lakewood Hospital Association under the Lease, this Council
<br /> authorizes and approves transfer of the operation and management of the
<br />
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