REPORT/RECOMMENDATION TO THE BOARD OF SUPERVISORS
OF SAN BERNARDINO COUNTY
AND RECORD OF ACTION
September 10, 2024
FROM
MATTHEW ERICKSON, County Chief Financial Officer, Finance and Administration
SUBJECT
Title
Loma Linda University Medical Center Tax Exempt Financing Hearing and Revenue Bond Approval
End
RECOMMENDATION(S)
Recommendation
1. Conduct a Tax Equity and Fiscal Responsibility Act public hearing regarding the issuance of one or more series of revenue bonds in an aggregate principal amount, not to exceed $80,000,000, for the purpose of financing the acquisition, construction, improvement, renovation and/or equipping of certain health care facilities to be owned or operated by one or some combination of the Loma Linda University Medical Center and Loma Linda University Children's Hospital.
2. Adopt Resolution approving the issuance of one or more series of tax-exempt and federally taxable revenue bonds, in an aggregate principal amount not to exceed $127,000,000, for the purpose of financing and refinancing the acquisition, construction, improvement, renovation and/or equipping of certain capital projects owned and operated by one or some combination of Loma Linda University Medical Center and Loma Linda University Children's Hospital.
(Presenter: Matthew Erickson, County Chief Financial Officer, 387-5423)
Body
COUNTY AND CHIEF EXECUTIVE OFFICER GOALS & OBJECTIVES
Ensure Development of a Well-Planned, Balanced, and Sustainable County.
Provide for the Safety, Health and Social Service Needs of County Residents.
Pursue County Goals and Objectives by Working with Other Agencies and Stakeholders.
FINANCIAL IMPACT
Approval of this item will not result in the use of Discretionary General Funding (Net County Cost). Bonds issued under this Resolution are limited obligations of the California Statewide Communities Development Authority (CSCDA), payable solely out the revenues and receipts derived from the loan made by CSCDA to the bo...
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