SUBJECT
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Resolution granting host approval for the issuance by the Hillsborough County Industrial Development Authority of its not to exceed $1,900,000,000 principal amount health system revenue bonds, Baycare Health System Issue, Series 2024, for the benefit of Baycare Health System, Inc.
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DESCRIPTION
The Hillsborough County Industrial Development Authority (the "Issuer") has determined that it is necessary in keeping with its authorized purposes to issue one or more series of bonds at the request of BayCare Health System, Inc. (the "Institution") and its operating affiliates, including St. Joseph's Hospital, Inc., St. Joseph's Health Care Center, Inc., St. Anthony's Hospital, Inc., Morton Plant Hospital Association, Inc., Morton Plant Mease Health Care, Inc., Trustees of Mease Hospital, Inc., South Florida Baptist Hospital, Inc., Winter Haven Hospital, Inc., Bartow Regional Medical Center, Inc., and Baycare Pasco, Inc. (collectively, the "Members of the Obligated Group"), to be designated Hillsborough County Industrial Development Authority, Health System Revenue Bonds, BayCare Health System Issue, Series 2024 (the "Series 2024 Bonds") in order to finance and refinance certain capital improvements and capital expenditures at certain hospital and healthcare facilities owned and operated by the Institution and its affiliates in Hillsborough County, Polk County, Manatee County, Pinellas County and Pasco County.
A portion of the proceeds of the Bonds will be used to finance and refinance projects in Polk County as follows: (i) bond proceeds in a principal amount not to exceed
$262,000,000 will be applied to finance and refinance and reimburse the costs of acquisition and construction of certain capital improvements, including items of machinery and equipment, to healthcare facilities owned and operated by the Institution and its affiliates in Polk County; and (ii) bond proceeds in a principal amount not to exceed $328,000,000 will be applied to refund al...
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