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Alaska Industrial Development and Export Authority will conduct a TEFRA public hearing on Mon. November 25, 2019

NOTICE OF PUBLIC HEARING

PLEASE TAKE NOTICE that the Alaska Industrial Development and Export Authority (the “Authority”) will conduct a public hearing on November 25, 2019 at 9:00 a.m. in the Authority’s Board Room, 813 West Northern Lights Boulevard, Anchorage, Alaska regarding the following proposed bond issue to be issued pursuant to AS 44.88, as amended, the interest on which is expected to be exempt from federal income tax pursuant to the Internal Revenue Code of 1986, as amended.

Refunding Revenue Bonds, in one or more series (Greater Fairbanks Community Hospital Foundation Project) (the “Bonds”).

Maximum Amount of Bonds:  Not to exceed $100,000,000.

Purpose:  The proceeds of the Bonds will be lent to The Greater Fairbanks Community Hospital Foundation, Incorporated, an Alaska nonprofit corporation (the “Borrower”), for the purpose of providing funds necessary to:

(a) refund the Authority’s Refunding Revenue Bonds (Greater Fairbanks Community Hospital Foundation Project), Series 2009A (the “Series 2009A Bonds”), the proceeds of which were loaned to the Borrower for the purposes of (i) currently refunding a portion of the Authority’s Revenue Bonds (Greater Fairbanks Community Hospital Foundation Project), Series 2004A (the “Series 2004A Bonds”) and the Authority’s Revenue Bonds (Greater Fairbanks Community Hospital Foundation Project), Series 2004B (the “Series 2004B Bonds” and, together with the Series 2004A Bonds, the “Series 2004 Bonds”) and (ii) paying all or a portion of the costs incurred in connection with the issuance of the Series 2009A Bonds; (b) refund the outstanding principal amount of the Authority’s Refunding Revenue Bonds (Greater Fairbanks Community Hospital Foundation Project), Series 2009B (the “Series 2009B Bonds”), the proceeds of which were loaned to the Borrower for the purpose of (i) refinancing a portion of a draw on a line of credit of the Borrower used to purchase on the open market and retire a portion of the Series 2004 Bonds, and (ii) pay all or a portion of the costs incurred in connection with the issuance of the Series 2009B Bonds, (c) pay the swap termination payment owed by the Foundation to Citibank, N.A. with respect to the termination of the interest rate swap agreement between the Foundation and Citibank, N.A., (d) fund any necessary reserve funds, and (e) pay all or a portion of the costs incurred in connection with the issuance of the Bonds. The proceeds of the Series 2004 Bonds were loaned to the Borrower for the purpose of providing funds necessary to (a) pay the costs of the acquisition, construction, renovation and equipping of certain hospital and other related health care facilities, including and without limitation the construction of an outpatient imaging center next to Fairbanks Memorial Hospital; remodeling and expansion of the Fairbanks Memorial Hospital emergency room and inpatient imaging center; and renovations/expansions to the boiler/laundry/trash/electrical facilities at Fairbank Memorial Hospital, all located at 1650 Cowles Street, Fairbanks, Alaska 99701, (b) fund a debt service reserve account, and (c) pay all or a portion of the costs incurred in connection with the issuance of the Series 2004 Bonds. The facilities refinanced with the proceeds of the Bonds are owned by the Borrower and operated by Foundation Health, LLC.

The public is invited to attend and present written or oral testimony regarding the above referenced bond issue. Pursuant to the Americans with Disabilities Act, notice is hereby given that 48 hours’ notice is needed if special accommodations are required. If you are in need of special accommodations or if you wish to attend telephonically, contact Sherrie Siverson at (907) 771-3008. The hearing shall constitute the public hearing referred to in Section 147(f) of the Internal Revenue Code of 1986, as amended.

ALASKA INDUSTRIAL DEVELOPMENT AND EXPORT AUTHORITY

By:  Tom Boutin

Its:  Executive Director

Published and Posted: November 8, 2019

 

 

Attachments, History, Details

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Revision History

Created 11/8/2019 1:07:30 PM by smsiverson

Details

Department: Commerce, Community and Economic Development
Category: Public Notices
Sub-Category:
Location(s): Statewide
Project/Regulation #:
 
Publish Date: 11/8/2019
Archive Date: 11/29/2019
 
Events/Deadlines: