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RESOLUTION R-1920-39: A RESOLUTION OF THE COUNCIL OF THE CITY OF NORMAN, OKLAHOMA, APPROVING AND AUTHORIZING THE NORMAN REGIONAL HOSPITAL AUTHORITY'S ISSUANCE OF BONDS, NOTES OR OTHER EVIDENCES OF INDEBTEDNESS, ON A TAX-EXEMPT OR TAXABLE BASIS, AT A PREMIUM OR DISCOUNT, IN THE AGGREGATE PRINCIPAL AMOUNT OF NOT TO EXCEED ONE HUNDRED TWENTY MILLION DOLLARS ($120,000,000) TO PROVIDE FUNDS NECESSARY TO FINANCE A PORTION OF THE COST OF CERTAIN PROPOSED PROJECTS INCLUDING CAPITAL EQUIPMENT, CAPITAL IMPROVEMENTS, LAND, FACILITY CONSTRUCTION, ACQUISITION AND/OR RELATED DEVELOPMENT OR PROJECT MANAGEMENT FEES TO SUPPORT PROJECTS INCLUDING, BUT NOT LIMITED TO, AN EXPANDED NORMAN REGIONAL HEALTHPLEX FACILITY AND CONSTRUCTION, IMPROVEMENT AND/OR ACQUISITION OF ADDITIONAL FACILITIES ELSEWHERE AS NEEDED (COLLECTIVELY, THE "PROJECT"), AND PAY THE COSTS OF ISSUANCE; APPROVING AND AUTHORIZING THE EXECUTION AND DELIVERY OF DOCUMENTS IN CONNECTION THEREWITH; AND WAIVING COMPETITIVE BIDDING PURSUANT TO 60 O.S. SECTION 176(F).
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BACKGROUND: Norman's first hospital, the American Legion Memorial Hospital, opened after World War I to address the needs of the growing community. During World War II, the hospital closed due to shortages of trained medical personnel. News reports from the time captured stories of people losing loved ones because of the travel time to the nearest hospitals in Oklahoma City. Norman's City Charter was amended in 1945 to include provisions for a municipal hospital. In 1946, Norman Municipal Hospital opened at 901 N. Porter to address the need for a local hospital. The original hospital had 61 beds and 29 employees. After 20+ years of managing the hospital, the City created the Norman Municipal Hospital Authority (now the Norman Regional Hospital Authority), a public trust, in 1969 to provide for the operations of the hospital and allow the hospital the benefits of a public trust without subjecting the City to the liability and financial responsibili...
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