Notice of Public Hearings - Baptist Health Fort Smith

NOV, 18 2019

Notice of Public Hearings - Baptist Health Fort Smith

NOV 18, 2019
Administrative Conference Room, 1st floor Ambulatory Surgery Center, Baptist Health

1001 Towson Avenue
Fort Smith, AR 72901

NOTICE OF PUBLIC HEARINGS

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 public hearings 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 $105,000,000 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 provide permanent financing for (i) a portion of the costs of the acquisition of certain assets constituting the healthcare facility now known as Baptist Health – Fort Smith, located at 1001 Towson Avenue, Fort Smith, Arkansas 72901 (including the main hospital facility (located at 1001 Towson Avenue, Fort Smith, Arkansas) and certain related parking facilities and properties adjacent or proximate to the main hospital facility, which properties include particularly, without limitation, 704 South 14th Street, all in the City of Fort Smith, Arkansas) (collectively, "BH - Fort Smith"), (ii) costs of acquiring and installing furnishings and equipment (collectively, the "BH – Fort Smith Project"), to or for BH – Fort Smith, and (iii) costs of acquiring and installing furnishings and equipment (collectively, the "BH - Van Buren Project") to or for the healthcare facility now known as Baptist Health – Van Buren ("BH – Van Buren"), located at 211 Crawford Memorial Drive, Van Buren, Arkansas 72956.

 

BH – Fort Smith and the BH – Fort Smith Project are owned and operated by Baptist Health Regional Hospitals ("BHRH"), an Arkansas nonprofit corporation, and a wholly-owned affiliate of Baptist Health ("BH"), an Arkansas nonprofit corporation. BH – Van Buren is leased to BHRH and operated by BHRH, and the equipment constituting the BH – Van Buren Project is owned and operated by BHRH. In connection with the permanent financing of a portion of the costs of the acquisition of BH – Fort Smith and the permanent financing of costs of the BH – Fort Smith Project and the BH – Van Buren Project, interim financing received by BH and BHRH will be retired. 

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The principal amount of the Bonds allocated to the acquisition of BH – Fort Smith and to the BH – Fort Smith Project is not anticipated to exceed $102,315,000. The principal amount of the Bonds allocated to the BH – Van Buren Project is not anticipated to exceed $2,685,000.

 

The Bonds will be payable by the Authority from payments received from BH and BHRH under a loan agreement between BH and the Authority. 

 

Any persons interested may express their views, both orally and in writing, on the proposed issuance of the Bonds and the purposes for which the Bonds are proposed to be issued before a representative or representatives of the Authority at the following public hearings:

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1.         On November 18, 2019 at 9:00 a.m., in the Administrative Conference Room located in the Executive Offices on the 1st floor of the Ambulatory Surgery Center, Baptist Health – Fort Smith, 1001 Towson Avenue, Fort Smith, Arkansas 72901;

2.         On November 18, 2019 at 9:45 a.m., in  the main conference room on the basement level of Baptist Health – Van Buren, 211 Crawford Memorial Drive, Van Buren, Arkansas 72956; and

3.         On November 18, 2019 at 2:30 p.m., in Conference Room # 1 at the headquarters of the Authority, 900 West Capitol, Suite 310, Little Rock, Arkansas 72201.

 

                Dated:   November 1, 2019.                                        /s/                Bryan Scoggins               

                                                                                                    President, Arkansas Development

   Finance Authority