San Bernardino header
File #: 5099   
Type: Discussion Status: Passed
File created: 11/5/2021 Department: Finance and Administration
On agenda: 11/16/2021 Final action: 11/16/2021
Subject: Community Health Systems, Inc. Tax Equity and Fiscal Responsibility Act Financing
Attachments: 1. Item #75 Executed BAI, 2. RES-FAB-11-16-21-Community Health Systems
REPORT/RECOMMENDATION TO THE BOARD OF SUPERVISORS
OF SAN BERNARDINO COUNTY
AND RECORD OF ACTION

November 16, 2021

FROM
MATTHEW ERICKSON, County Chief Financial Officer, Finance and Administration

SUBJECT
Title
Community Health Systems, Inc. Tax Equity and Fiscal Responsibility Act Financing
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 $3.5 million, for the purpose of financing, refinancing, or reimbursing the cost of the acquisition, design, development, construction, renovation, improvement, furnishing, and equipping of certain healthcare facilities located in Bloomington.
2. Adopt Resolution approving the issuance of one or more series of revenue bonds in an aggregate principal amount not to exceed $3.5 million, for the purpose of financing, refinancing, or reimbursing the cost of the acquisition, design, development, construction, renovation, improvement, furnishing, and equipping of certain healthcare facilities located in Bloomington.
(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
Bonds issued under this resolution are limited obligations of the California Enterprise Development Authority (CEDA) payable solely out of the revenues and receipts derived from the loan made by CEDA to the borrower, Community Health System, Inc. Pursuant to Section 4.1 of the joint exercise of powers agreement governing CEDA, in which the County is a member, the bonds do not constitute a debt of the County nor do the bonds represent a pledge of the faith an...

Click here for full text