Details for Notice of Special Meeting And Public Hearing

Updated

NOTICE OF SPECIAL MEETING AND PUBLIC HEARING OF THE HEALTH AND EDUCATIONAL FACILITIES BOARD OF THE CITY OF JOHNSON CITY, TENNESSEE Notice is hereby given that The Health and Educational Facilities Board of the City of Johnson City, Tennessee (the "Board"), or its designee, will hold a special meeting and public hearing on September 21, 2021 at 4:00 p.m. at the Municipal Building located at 601 E. Main Street in Johnson City, Tennessee to consider and act upon all business which may properly come before the Board, said business to include, but not necessarily be limited to: i. the proposed issuance by the Board of its qualified 501(c)(3) tax-exempt revenue bonds in the total amount not to exceed $55,000,000 (the "Current Refunding Bonds"), the proceeds of which, if issued, would be used by the Board to make a loan to Ballad Health (the "Borrower"), a Tennessee non-profit corporation, whose principal place of business is 303 Med Tech Parkway, Johnson City, Tennessee, to assist the Borrower with the refunding in whole or in part of the outstanding amount of the Board's Hospital Revenue Bonds (Mountain States Health Alliance), Series 2012A (the "Series 2012A MSHA Bonds"); and ii. the proposed issuance by the Board of its qualified 501(c)(3) tax exempt revenue bonds in the total amount not to exceed $60,000,000 (the "New Money Bonds"), the proceeds of which, if issued, would be used by the Board to make a loan to the Borrower to assist the Borrower with (i) the financing of certain new money projects owned by the Borrower or affiliates of the Borrower to include the acquisition, construction, improvement and/or equipping of certain capital projects for certain hospital and related facilities of Borrower and its affiliates located in the State of Tennessee and the Commonwealth of Virginia, including reimbursement of recent expenditures relating thereto, and (ii) the financing of amounts required for reserves, working capital, capitalized interest, costs of issuance and other financing expenses related to the issuance of the New Money Bonds. The projects anticipated to be financed with the proceeds of the New Money Bonds include the following: a. the acquisition, construction, improvement and/or equipping of capital projects for hospital and related facilities at Holston Valley Medical Center, 130 W. Ravine Road, Kingsport, Sullivan County, Tennessee, including reimbursement of recent expenditures relating thereto, in a total principal amount not to exceed $9,000,000; b. the acquisition, construction, improvement and/or equipping of capital projects for hospital and related facilities at Bristol Regional Medical Center, 1 Medical Park Blvd., Bristol, Sullivan County, Tennessee, including reimbursement of recent expenditures relating thereto, in a total principal amount not to exceed $11,000,000; c. the acquisition, construction, improvement and/or equipping of capital projects for hospital and related facilities at Indian Path Community Hospital, 2000 Brookside Dr., Kingsport, Sullivan County, Tennessee, including reimbursement of recent expenditures relating thereto, in a total principal amount not to exceed $4,650,000; d. the acquisition, construction, improvement and/or equipping of capital projects for hospital and related facilities at Johnson City Medical Center, 400 N. State of Franklin Road, Johnson City, Washington County, Tennessee, including reimbursement of recent expenditures relating thereto, in a total principal amount not to exceed $20,000,000; e. the acquisition, construction, improvement and/or equipping of capital projects for hospital and related facilities at Franklin Woods Community Hospital, 300 Med Tech Parkway, Johnston City, Washington County, Tennessee, including reimbursement of recent expenditures relating thereto, in a total principal amount not to exceed $4,000,000; f. the acquisition, construction, improvement and/or equipping of capital projects for hospital and related facilities at Woodridge Psychiatric Hospital, 403 N. State of Franklin Road, Johnson City, Washington County, Tennessee, including reimbursement of recent expenditures relating thereto, in a total principal amount not to exceed $3,050,000; g. the acquisition, construction, improvement and/or equipping of capital projects for office space and related facilities at Ballad Health corporate offices, 303 MedTech Parkway, Johnson City, Washington County, Tennessee, including reimbursement of recent expenditures relating thereto, in a total principal amount not to exceed $400,000; h. the acquisition, construction, improvement and/or equipping of capital projects for office space and related facilities at Ballad Health corporate offices, 602 MedTech Parkway, Johnson City, Washington County, Tennessee, including reimbursement of recent expenditures relating thereto, in a total principal amount not to exceed $3,100,000; i. the acquisition, construction, improvement and/or equipping of capital projects for storage space and related facilities at 766 Brookside Dr., Kingsport, Sullivan County, Tennessee, including reimbursement of recent expenditures relating thereto, in a total principal amount not to exceed $800,000; j. the acquisition, construction, improvement and/or equipping of capital projects for hospital and related facilities at Sycamore Shoals Hospital, 1501 W. Elk Avenue, Elizabethton, Carter County, Tennessee, including reimbursement of recent expenditures relating thereto, in a total principal amount not to exceed $1,900,000; k. the acquisition, construction, improvement and/or equipping of capital projects for hospital and related facilities at Lonesome Pine Hospital, 1900 Holton Avenue, Big Stone Gap, Wise County, Virginia, including reimbursement of recent expenditures relating thereto, in a total principal amount not to exceed $2,400,000. The Series 2012A MSHA Bonds financed a surgery center project at the Mountain States Health Alliance ("MSHA") hospital in Johnson City, Tennessee and financed certain expenses incurred in connection with the issuance of the Series 2012A MSHA Bonds. THE CURRENT REFUNDING BONDS AND THE NEW MONEY BONDS (COLLECTIVELY, THE "BONDS"), IF ISSUED, WOULD NOT REPRESENT OR CONSTITUTE A DEBT OR PLEDGE OF THE FAITH AND CREDIT OR THE TAXING POWER OF THE BOARD, THE STATES OF TENNESSEE OR VIRGINIA, OR ANY POLITICAL SUBDIVISION THEREOF (INCLUDING, WITHOUT LIMITATION, THE CITIES OF KINGSPORT, BRISTOL, JOHNSON CITY OR ELIZABETHTON, TENNESSEE, THE COUNTIES OF SULLIVAN, WASHINGTON AND CARTER, TENNESSEE, THE TOWN OF BIG STONE GAP, VIRGINIA OR THE COUNTY OF WISE, VIRGINIA). At the time and place set forth above, the Board will hold a public hearing relative to the proposed issuance of the Bonds on behalf of itself, the Counties of Sullivan, Washington and Carter, Tennessee, the Cities of Kingsport, Bristol, Johnson City and Elizabethton, Tennessee, the Town of Big Stone Gap, Virginia and the County of Wise, Virginia. The public hearing will be held pursuant to the requirements of Section 147(f) of the U.S. Internal Revenue Code of 1986, as amended. The Bonds will be payable solely from revenues derived from the Borrower and its affiliates and pledged therefor. Any person interested in the issuance of the Bonds or the location or purpose of the assets to be financed or refinanced with the proceeds of the Bonds is invited to attend the public hearing (which may be continued or adjourned to a later date), and they will be given an opportunity to express their views both orally and in written form concerning the proposed issuance of the Bonds and the financing and refinancing of the projects with the proceeds thereof. THE HEALTH AND EDUCATIONAL FACILITIES BOARD OF THE CITY OF JOHNSON CITY, TENNESSEE

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