Title
a. Conduct a public hearing under the requirements of Tax Equity and Financial Responsibility Act (TEFRA) and the Internal Revenue Code of 1986, as amended; and
b. Adopt a resolution approving the issuance of California Statewide Communities Development Authority (CSCDA) Health Facility Revenue Bonds (Community Hospital of the Monterey Peninsula), Series 2016A, in the aggregate principal amount not to exceed $35,000,000 for the purpose of refinancing the acquisition, construction, improvement and equipping of health facilities of Community Hospital of the Monterey Peninsula (CHOMP) and affiliated entities and certain other matters relating thereto.
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors:
a. Conduct a public hearing under the requirements of Tax Equity and Financial Responsibility Act (TEFRA) and the Internal Revenue Code of 1986, as amended; and
b. Adopt a resolution approving the issuance of California Statewide Communities Development Authority (CSCDA) Health Facility Revenue Bonds (Community Hospital of the Monterey Peninsula), Series 2016A, in the aggregate principal amount not to exceed $35,000,000 for the purpose of refinancing the acquisition, construction, improvement and equipping of health facilities of Community Hospital of the Monterey Peninsula (CHOMP) and affiliated entities and certain other matters relating thereto.
SUMMARY:
Community Hospital of the Monterey Peninsula, a California nonprofit public benefit corporation (the "Corporation"), has requested that the California Statewide Communities Development Authority (the "Authority") participate in the issuance of one or more series of revenue refunding bonds in an aggregate principal amount not to exceed $35,000,000 (the "Bonds") for the refinancing of the acquisition, construction, improvement and equipping of certain acute-care hospital and related facilities of the Corporation and affiliated entities (the "Facilities") that are owned and op...
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