RESOLUTION NO. RS2000-305

A resolution approving an Intergovernmental Agreement between The Hospital Authority of The Metropolitan Government of Nashville and Davidson County and the Metropolitan Government of Nashville and Davidson County.

Whereas, the State of Tennessee proposes that The Hospital Authority of The Metropolitan Government of Nashville and Davidson County (the "Authority") enter into a revenue transfer agreement under which the Authority will transfer to the State of Tennessee an amount not to exceed twenty-seven million eight hundred thirty-five thousand nine hundred twenty-two dollars ($27,835,922.00) for the period July 1, 1999 through June 30, 2000, and thirty-one million three hundred fifty-four thousand seventy-four dollars ($31,354,074.00) for the period July 1, 2000 through June 30, 2001; and

Whereas, in return for the revenue transfer, the State of Tennessee agrees to pay to the Authority on behalf of Metropolitan Bordeaux Hospital an increased reimbursement; and

Whereas, in return for the revenue transfer, the State of Tennessee agrees to pay to the Authority a disproportionate share payment in an amount not to exceed twenty-seven million eight hundred thirty-five thousand nine hundred twenty-two dollars ($27,835,922.00) for the period July 1, 1999 through June 30, 2000, and thirty-one million three hundred fifty-four thousand seventy-four dollars ($31,354,074.00) for the period July 1, 2000 through June 30, 2001; and

Whereas, in return for the revenue transfer, the State of Tennessee also agrees to pay to the Authority a two percent (2%) additional payment fee; and

Whereas the parties hereto have entered into an intergovernmental agreement that will allow the Metropolitan Government to appropriate funds for a loan to the Authority the amount of twenty-seven million eight hundred thirty-five thousand nine hundred twenty-two dollars ($27,835,922.00) for the period July 1, 1999 through June 30, 2000, and the amount of thirty-one million three hundred fifty-four thousand seventy-four dollars ($31,354,074.00) ) for the period July 1, 2000 through June 30, 2001, and provides that the Authority will return the loan back to the Metropolitan Government in full in one day with the 2% fee for the principal amount of loan:

Now, therefore, be it resolved by the Metropolitan Council of The Metropolitan Government of Nashville and Davidson County:

Section 1. That the Intergovernmental Agreement (Hospital Authority) between The Metropolitan Government of Nashville and Davidson County and The Hospital Authority of The Metropolitan Government of Nashville and Davidson County, attached hereto as Exhibit 1 and incorporated herein, is hereby approved and the Metropolitan County Mayor is hereby authorized to execute the same on behalf of the Metropolitan Government.

Section 2. That from and after the execution and delivery of the documents approved herein, the officers of the Metropolitan Government or any of them, are authorized, empowered and directed to do all such acts specifically transferring the amount of not to exceed $27,835,922.00 for the period of July 1, 1999 through June 30, 2000, and $31,354,070.00 for the period of July 1, 2000 through June 30, 2001, from the General Fund of the General Services District to the Authority, and to execute all such documents as may be necessary to carry out and comply with the provisions of the documents approved herein.

Section 3. That this resolution shall take effect from and after its passage, the welfare of The Metropolitan Government of Nashville and Davidson County requiring it.

Sponsored by: Brenda Gilmore, Eileen Beehan, Tony Derryberry

LEGISLATIVE HISTORY
Referred to:	Budget & Finance Committee Health, Hospitals & Social Services Committee
Introduced:	August 1, 2000
Adopted:	August 1, 2000
Approved:	August 2, 2000
By: