Notice of Public Hearing for Washington Regional Medical Center
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 $57,000,000 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. Northhills Blvd., Fayetteville, Arkansas (the "Hospital"). The Improvements include particularly, without limitation, the acquisition and installation of medical equipment and the acquisition, installation, and implementation of electronic medical records systems, equipment, apparatus, and infrastructure to serve the Hospital. The Improvements will be located on the Hospital campus at 3215 N. Northhills 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 delegate of the Authority, on August 27, 2024 at 3:00 p.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: August 27, 2024. /s/ Mark Conine
President, Arkansas Development
Finance Authority