Notice of Public Hearing - Washington Regional Medical Center

AUG, 20 2019

Notice of Public Hearing - Washington Regional Medical Center

AUG 20, 2019
Large Conference Room of the Farmhouse - Washington Regional Medical Center

180 West Appleby Road
Fayetteville, AR 72703

NOTICE OF PUBLIC HEARING

Notice is hereby given, pursuant to Section 147(f) of the Internal Revenue Code
of 1986, as amended (the "Code"), and pursuant to Arkansas Code Annotated Section 19-9-607,
that a public hearing will be conducted by a representative or representatives of the Arkansas
Development Finance Authority (the "Authority"), on the question of the issuance of not to
exceed $32,000,000 in aggregate principal amount of revenue bonds (the "Bonds"), by the
Authority. The Bonds will be issued as "qualified 501(c)(3) bonds" as defined in Section 145 of
the Code.

The Bonds will be issued to finance all or a portion of the costs of capital
improvements (the "Improvements") to the hospital and health care facility known as
Washington Regional Medical Center, 3215 N. North Hills Blvd., Fayetteville, Arkansas (the
"Hospital"). The Improvements include particularly, without limitation, (i) the construction and
equipping of an additional nursing unit (of approximately 14,000 square feet) on Level 3 of the
Hospital for approximately 16 acute beds and 3 observation beds operationally planned for non-
critical cardiac patients, (ii) the construction and equipping of new laboratory space (of
approximately 16,500 square feet) on Level 3 of the Hospital, (iii) the equipping and furnishing
of Level 3 of the Hospital, (iv) the construction of shell space (of approximately 10,400 square
feet) on Level 3 of the Hospital for future growth, and (v) the acquisition, construction,
installation, and equipping of two backup generators and a supporting fuel tank and related
enclosures and structures to serve the Hospital. The Improvements will be located on the
Hospital campus at 3215 N. North Hills Blvd., Fayetteville, Arkansas.

The Improvements (i) will be initially operated by the Corporation, and (ii) are
subject to certain rights of Washington County, Arkansas (the "County") as lessor under the
Assignment and Lease Agreement dated May 24, 1988, as amended and supplemented, between
the County and the Corporation.

Any persons interested may express their views, both orally and in writing, on the
proposed issuance of the Bonds and the proposed nature of the Improvements before a
representative or representatives of the Authority, on August 20, 2019 at 10:00 a.m., in the Large
Conference Room of the Farmhouse located on the campus of Washington Regional Medical
Center, 180 West Appleby Road, Fayetteville, Arkansas 72703
.

Dated: July 31, 2019.