IDA REPORT OF PUBLIC HEARING.PDF

THE INDUSTRIAL DEVELOPMENT AUTHORITY
OF THE COUNTY OF MARICOPA
(BANNER HEALTH) SERIES 2019
REPORT OF PUBLIC HEARING
PURSUANT TO SECTION 147(0 OF THE
INTERNAL REVENUE CODE
The undersigned, John J. Fries, a designated representative of The Industrial
Development Authority of the County of Maricopa (the "Authority") for the purpose of conducting a
public hearing pursuant to the requirements of Section 147(f) of the Internal Revenue Code of 1986,
as amended, with respect to the above captioned series of Bonds, hereby reports that a public hearing
was held at 9:30 a.m. on Monday, April 22, 2019, in the Maricopa County Administration Building,
First Floor Lobby, 301 West Jefferson Street, Phoenix, Arizona 85003, pursuant to a Notice of Public
Hearing published in The Arizona Republic on April 15, 2019.
A copy of the Notice of Public Hearing and Affidavit of Publication of such is attached
hereto.
At the time and place set for the public hearing, I announced that the public hearing was
opened and asked if there were any interested persons wishing to comment and be heard with regard
to the proposed issuance by the Authority of its Revenue Bonds in an amount not to exceed
$660,000,000 (the "Bonds") in one or more series for the purposes and as described in the following
four (4) paragraphs.
Up to $155,000,000 aggregate principal amount of Bonds may be issued to finance and
refinance construction, furnishing and equipping of a new 16-story patient care and clinical tower to
be located on the Banner-University Medical Center Phoenix campus ("Banner UMC Phoenix")
located at 1111 E. McDowell Road, Phoenix, AZ 85006, consisting of approximately 700,000 square
feet and housing approximately 278 patient beds, a new emergency department and trauma center,
operating rooms, diagnostic and laboratory facilities, and related campus improvements and
miscellaneous capital expenditures at Banner UMC Phoenix.
Up to $155,000,000 aggregate principal amount of Bonds may be issued to finance and
refinance the construction, furnishing and equipping of Banner Ocotillo Medical Center, a new,
4-story, approximately 240,000 square-foot hospital to be located at 1405 S Alma School Road,
Chandler, AZ 85286 (provided the Authority has first approved the use of Bond proceeds for this
purpose).
Up to $225,000,000 aggregate principal amount of Bonds may be issued to finance and
refinance construction, furnishing and equipping of a new 9-story patient care and clinical tower to
be located on the Banner-University Medical Center Tucson campus ("Banner UMC Tucson")
located at 1501 N. Campbell Avenue, Tucson, AZ 85724, consisting of approximately 700,000
square feet and housing approximately 204 patient beds, operating rooms, diagnostic and laboratory
facilities and related campus improvements and miscellaneous capital expenditures at Banner UMC
Tucson. Banner Health expects that the mailing address of the Banner UMC Tucson campus will be
changed to 1625 N. Campbell Avenue, Tucson, AZ in connection with the construction of the new
patient tower.
4577527.1

Up to $300,000,000 aggregate principal amount of the Series 2019 Bonds may be issued to
refund all or a portion of the Arizona Health Facilities Authority Revenue Bonds (Banner Health),
Series 2008B and Series 2008C (the "Series 2008BC Prior Bonds"), and Series 2015D (the "Series
2015 Prior Bonds," and collectively with the Series 2008BC Prior Bonds, the "Prior Bonds"). The
proceeds of the Prior Bonds were used by Banner Health or its wholly owned affiliates as follows:
(1) approximately $161,000,000 of proceeds of the Series 2008BC Prior Bonds were applied to
refund the Arizona Health Facilities Authority Revenue Bonds (Banner Health), Series 2005B and
Series 2005C, the proceeds of which financed and refinanced: (a) construction and equipping of
Banner Gateway Medical Center, 1900 North Higley Road, Gilbert, AZ; (b) construction of a parking
garage at Banner Thunderbird Medical Center, 5555 W. Thunderbird Road, Glendale, AZ; (c)
construction, renovations and equipping of Banner Health's corporate offices located at 1441 N. 12th
Street, Phoenix, AZ; and (d) construction and equipping at McKee Medical Center located at 2000
Boise Avenue, Loveland, Colorado; and (2) approximately $101,000,000 of proceeds of the Series
2015D Prior Bonds were applied to finance (a) the acquisition of Banner UMC Tucson, (b)
construction of a parking garage at Banner UMC Phoenix, and (c) the acquisition of Banner Payson
Medical Center located at 807 S. Ponderosa Street, Payson, AZ.
The projects and facilities to be financed and refinanced with the proceeds of the Bonds are
or will be owned and/or operated by Banner Health or its wholly owned affiliates.
No members of the public were present at the public hearing and no persons requested, orally
or in writing, to comment or be heard with regard to the matter.
There having been no persons present who wished to comment or be heard, I declared the
public hearing closed and am submitting this report with respect to such public hearing.
Dated: April 22, 2019.
Johif J. Fries, a DOigrAterd Authorized
Rebre entative
dustrial DeVelopment Authority
e County of Maricopa
Attachment: Notice of Public Hearing
Affidavit of Publication

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The newspapers of Arizona make public notices from their printed pages available electronically in a single database for the
benefit of the public. This enhances the legislative intent of public notice - keeping a free and independent public informed about
activities of their government and business activities that may affect them. Importantly, Public Notices now are in one place on the
web (www.PublicNoticeAds.com ), not scattered among thousands of government web pages.
County: Maricopa
Printed In: Arizona Republic (Phoenix)
Printed On: 2019/04/15
NOTICE OF PUBLIC HEARING Notice is hereby given that on April 22, 2019, a public hearing (the "Public
Hearing") will be conducted by an authorized representative on behalf of The Industrial Development
Authority of the County of Maricopa (the "Authority") at 9:30 am in the Maricopa County Administration
Building, First Floor Lobby, 301 West Jefferson Street, Phoenix, Arizona 85003 with respect to the
proposed issuance by the Authority of its Revenue Bonds (Banner Health), Series 2019 (the "Bonds") in
one or more series from time to time, in the maximum aggregate principal amount of $660,000,000 to
assist Banner Health (the "Corporation"), an Arizona nonprofit corporation, to provide for a 3-year plan
of financing and refinancing of the costs of construction, renovations, furnishing and equipping of certain
health care facilities as hereinafter described and to pay costs of issuance of the Bonds. Up to
$155,000,000 aggregate principal amount of Bonds may be issued to finance and refinance construction,
furnishing and equipping of a new 16-story patient care and clinical tower to be located on the Banner-
University Medical Center Phoenix campus ("Banner UMC Phoenix") located at 1111 E. McDowell Road,
Phoenix, AZ 85006, consisting of approximately 700,000 square feet and housing approximately 278
patient beds, a new emergency department and trauma center, operating rooms, diagnostic and
laboratory facilities, and related campus improvements and miscellaneous capital expenditures at Banner
UMC Phoenix. Up to $155,000,000 aggregate principal amount of Bonds may be issued to finance and
refinance the construction, furnishing and equipping of Banner Ocotillo Medical Center, a new, 4-story,
approximately 240,000 square-foot hospital to be located at 1405 S Alma School Road, Chandler, AZ
85286. Up to $225,000,000 aggregate principal amount of Bonds may be issued to finance and refinance
construction, furnishing and equipping of a new 9-story patient care and clinical tower to be located on
the Banner-University Medical Center Tucson campus ("Banner UMC Tucson") located at 1501 N.
Campbell Avenue, Tucson, AZ 85724, consisting of approximately 700,000 square feet and housing
approximately 204 patient beds, operating rooms, diagnostic and laboratory facilities and related campus
improvements and miscellaneous capital expenditures at Banner UMC Tucson. The Corporation expects
that the mailing address of the Banner UMC Tucson campus will be changed to 1625 N. Campbell
Avenue, Tucson, AZ in connection with the construction of the new patient tower. Up to $300,000,000
aggregate principal amount of the Series 2019 Bonds may be issued to refund all or a portion of the
Arizona Health Facilities Authority Revenue Bonds (Banner Health), Series 2008B and Series 2008C (the
"Series 2008BC Prior Bonds"), and Series 2015D (the "Series 2015 Prior Bonds", and collectively with the
Series 2008BC Prior Bonds, the "Prior Bonds"). The proceeds of the Prior Bonds were used by the
Corporation as follows: (1) approximately $161,000,000 of proceeds of the Series 2008BC Prior Bonds
were applied to refund the Arizona Health Facilities Authority Revenue Bonds (Banner Health), Series
2005B and Series 2005C, the proceeds of which financed and refinanced: (a) construction and equipping
of Banner Gateway Medical Center, 1900 North Higley Road, Gilbert, AZ; (b) construction of a parking
garage -at -Banner-Thunderbird Medical Centerr-5555 W-. -Thunderbird-Road-Glendale, -AZ; (G)
construction, renovations and equipping of the Corporation's corporate offices located at 1441 N. 12th
Street, Phoenix, AZ; and (d) construction and equipping at McKee Medical Center located at 2000 Boise
Avenue, Loveland, Colorado; and (2) approximately $101,000,000 of proceeds of the Series 2015D Prior
Bonds were applied to finance (a) the acquisition of Banner UMC Tucson, (b) construction of a parking
garage at Banner UMC Phoenix, and (c) the acquisition of Banner Payson Medical Center located at 807
S. Ponderosa Street, Payson, AZ. The projects and facilities to be financed and refinanced with the
proceeds of the Bonds are or will be owned and/or operated by the Corporation or its wholly owned
affiliates, Banner-University Medical Center Tucson Campus, LLC or Banner-University Medical Center
South Campus, LLC. The projects to be financed and refinanced with the proceeds of the Bonds are or
will be located at the addresses set forth herein. The Bonds will be, and the Prior Bonds are, special
limited obligations of the issuers thereof, payable solely from payments to be made therefor by the
Corporation, and will not constitute a general obligation or a pledge of the faith and credit or the taxing
power of the Authority, the County of Maricopa, Arizona, the State of Arizona or any agency or political
subdivision thereof. The Authority has no taxing power. The Bonds are to be issued from time to time in
http://www.publienoticeads.com/az/search/view.asp?T=PN&id=41/4142019_25347095.htm 4/15/2019

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one or more issues during the expected 3-year period commencing on the date of approval of the plan of
financing described herein. The Corporation intends to issue the Bonds not later than one year from the
date of approval of the plan of finance described herein. Any person may appear at such hearing and
express his or her views, or may submit his or her views in writing, regarding the proposed Bonds and
the location and nature of the projects described herein to be financed and refinanced with the proceeds
of the Bonds. Any written submissions must be sent to the Authority c/o Maricopa County, 301 West
Jefferson Street, 10th Floor, Phoenix, Arizona, 85003 Attention: President and clearly marked "Banner
Health Projects." Written submissions should be mailed or delivered in sufficient time to be received on
or before April 19, 2019. THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE COUNTY OF MARICOPA
Pub: April 15, 2019
Public Notice ID:
http://www.publicnoticeads.corn/az/search/view.asp?T=PN&id=41/414201925347095.htm 4/15/2019

r 7.1H --0 auc
IZONA
iri
PO Box 194, Phoenix, Arizona 85001-0194
Phone 1-602-444-7315 Fax 1-877-943-0443
C-Classified AFFIDAVIT OF PUBLICATION
NOTICE OF PUBIJC HEARING
Notice Is hereby given that on
Aoril 22, 2019, a public heari
(lie "Public Heanng)
HAWKINS DELAFIELD Sr WOOD LLP conducted by an authorized rep-
resentative on behalf of The In-
ONE GATEWAY CENTER, 24TH dustrial Development Authority
of Ito County of Murkopa
FLOOR 'Authority') at 9:30 am in the
Martoopa County Administration
Newark, NJ 07102 Buficting, First Floor Lobby, $01
West Jefferson Sheet, Phoenix,
Manna 85003 with respect to the
proposed issuance by the Au-
thority ot its Revenue Bonds
anner Health), Series 2019 (the
ends") in one or more series
from time to time in the maxi-
mum aggregate principal
amount of $660,000,000 to assist
Banner Health (the 'Corporatio-
Order # 0008876206 of Affidavits n an Arizona nonprofit corps-
ration, to provide for a 3-year
plan of financing and refinancing
P.O # 4/22 PH of the casts of construction, ren-
ovations, furnishing and equip-
Published Date(s): ping ol certain health care facKi.
lies as hereinafter described and
to pay costs of issuance of the
04/15/19 Bonds.
Up to $155,000,000 aggregate
prindpal amount of Bonds may
be issued to finance and refl.
nance construction, furnishing
and equipping of a nm 16-story
patient care and clinical tower to
STATE OF WISCONSIN be located on the Banner.
University Medical Center Phoe-
COUNTY OF BROWN nix campus Manner UNIC Roe.
nix') located at 1111 E. McDowell
Road, Phoenix, AZ 85006, consist.
I, being first duly sworn, upon oath lag of approximately . 700,000
deposes and says: That I am the legal square mataly feet 278 and patient housing beds, approxi. a new
clerk of the Arizona Republic, a emergency ma center, department operating rooms, and trau- di.
newspaper of general circulation in the agnostic and laboratory facili-
ties. and related campus - im-
counties of Maricopa, Coconino, Pima provements and miscellaneous
capital expenditures at Banner
and Pinal, in the State of Arizona, UMC Phoenix.
Up to $155,000,000 aggregate
published weekly at Phoenix, Arizona, principal amount of Bonds may
be issued to finance and reii.
and that the copy hereto attached is a nonce the construction, furnish-
ing and equipping of Banner
true copy of the advertisement published Ocotillo Mechcol Center, a new,
4-story, approximately 240,000
in the said paper on the dates indicated. square-loot hospital to be locat-
ed at 1405 S Alma School Road,
Chandler, AZ 85286.
Up to $225,000,000 aggregate
principal amount of Bonds may
be issued to finance and refl.
nance construction, furnishing
Sworn to before me this and equipping of a new 9-story
bent care anti clinical tower to
15TH day of e located on the Banner.
University Medical Center Tuc-
APRIL 2019 son campus Manner UMC Tuc-
son') located at 1501 N. Camp-
bell Avenue, Tucson, AZ 85724,
consisting of approximately
700.000 square fPA1 and housln
appioximately 204 patient beds,
operating rooms, diagnostic and
laboratory lacililies and related
campus improvements and mis-
cellaneous capital expenditures
at Banner UMC Tucson. The Cor-
poration expects that the mailing
address of the Banner UMC Tuc-
son campus will be changed to
1025 N. Campbell Avenue, Tuc-
son, AZ in connection with the
construction or the new patient
tower.
Up to 5300,000.000 aggregate
prmdpal amount of the Series
2019 Bonds may be issued to re-

runs an or a pillt101) 01 me HTIZO.
na Health Facilities Authority
Revenue Bonds (Banner Health),
Series 20036 and Series 20030
(the "Series 204980 Prior Bend-
e), and Series 20150 (the 'Ser-
ies 2015 NCI' Bonds', and collec.
lively with the Series 200860 Pri-
or Bonds, Inc 'Prior Bonds")
The proceeds of the Prior Bonds
were used by the Corporation an
follows: (1) approximately
$161,000,000 of proceeds of the
Series 200860 Prior Bonds were
angliad to refund the Arizona
Health Facilities Authority Reve-
nue Bonds (Banner Health ,) Ser•
ho 20056 and Series ZO5C, the
proceeds ol which financed and
refinanced; (a) constniclion and
equipping of Banner Gatewa
Medical Center, 1900 Norh
Higley Road, Gilbert, AZ; (b) con-
struction ot a parking garage at
Banner Thunderbird Medical
Center, 5555 W. Thunderbird
Road, Glendale, AZ; (c) Construe-
ton, renovations arid equipping
of the Corporation's corporate
offices located at 1441 N. 12th
Street, Phoenix, AZ; and (d) con-
struction and equipping at
McKee Medical Center located at
2000 Boise Avenue, Loveland,
Colorado; and (2) approximately
$101,000,000 of proceeds of the
Sense 20150 Prior Bonds were
applied to finance (e) the acquis-
hien of Banner WAG Tucson, (b)
construction of a parking garage
at Banner UMC Phoenix, and (u)
the acquisition of Banner Payson
Medical Center located at 807 S.
Ponderosa Street, Payson, AZ.
The projects and facilkies to be
financed and refinanced with the
proceeds of the Bonds are cr will
be owned and'or operated by
the Corporation or its wholly
owned affiliates, Banner-
University Medical Center Tuc-
son Campus, LLC or Banner-
University Medea! Center South
Campus, LW. The projects to be
financed and refinanced with the
proceeds of the Bonds are or WU
be located at the addresses set
forth herein.
The Bonds will be, and the Prior
Bonds are, special limited oblige-
tkms of the issuers thereof, pay-
able solely from payments to be
made therefor by the Corpora-
tion, and will not constitute a
general obligation or a pledge of
the faith and credit or lire faxing
power of the Authority, the
County of Marfoopa, Arizona, the
Stale of Arizona or any agency or
political subdivision thereof. The
Authority has no taxing power.
The Bonds are to be Issued from
time to time in one or more is-
sues during the expected 3-year
period commencing on the date
of approval of the plan of financ-
ing described herein. The Corpo-
ration intends to issue the Bonds
not later than ono year from the
date of approval of the plan sill-
sauce described herein.
Any person may appear , at such
hearing and express his or her
views, or may submit his or her
views in writing, regarding the
proposed Bonds and the location
and nature of the projects de-
scribed herein to be financed
and refinanced with the pro-
ceeds ot the Bonds. Any written
submissions must be sent to lho
Authority do Marlowe County,
301 West Jefferson Street, 10th
Floor, Phoenix, Arizona, 95003 At-
tention: President and clearly
marked "Banner Health Projects.
Written submissions should be
marled or delverc-cf in sufficient
lime to be received on or before
April 19, 2019.
THE INDUSTRIAL DEVELOPMENT
AUTHORITY
OF THE COUNTY OF MAIIICOPA
Pub: April 15,2019