Extracted text (via ocr_local)
10485 characters
MARICOPA —————— 8687 East Via de Ventura
A Suite 306
COU NTY Scottsdale, Arizona 85258
L : www.mcida.com
Janis L. Larson
janis@mcida.com
602-834-5226 x 1
SNY £202
August 17, 2023
¢
Oo;
Via Federal Express
Ms. Juanita Garza, Clerk
Board of Supervisors, Maricopa County
301 West Jefferson, 10th Floor
Phoenix, Arizona 85003-2148
{iy
j
Re: Not to Exceed $140,000,000 Illinois Finance Authority Revenue Bonds
(City of Hope), Series 2023A
Dear Ms. Garza:
The Illinois Finance Authority is issuing its Revenue Bonds (City of Hope), Series
2023A in an amount not to exceed $140,000,000 (the “Bonds”) with proceeds to be used to
finance/refinance the acquisition of integrated hospital and healthcare facilities located within
Maricopa County, Arizona, as well as California, Illinois and Georgia.
Section 147(f) of the Internal Revenue Code, as amended, requires, for bonds to be
issued on a tax-exempt basis, that a public hearing be held not only in Illinois where the bonds will
be issued by the Illinois Finance Authority, but in each location where the bond proceeds will be
used, one of the locations being in Maricopa County, Arizona.
As an accommodation, The Industrial Development Authority of the County of
Maricopa conducted the required public hearing on today’s date, August 17, 2023. The Report of
Public Hearing from that proceeding is included herein.
We requested to be on the Board of Supervisors’ agenda for the September 13,
2023, meeting, and, in this regard, a copy of the proposed resolution to be considered and adopted
by the Board of Supervisors is included herein.
Finally, I am including a copy of a summary of the project prepared by Kristine
Flynn of Hawkins Delafield & Wood LLP, legal counsel of the Illinois Finance Authority, dated
August 9, 2023, which provides more details of the planned financing.
Please let me know if you have any questions and, as always, we appreciate your
assistance.
~ Yours very truly,
QOH
/ /Janis Larson
Administrator
Enclosures
Ce: Maricopa County Board of Supervisors
Ms. Andrea Cummings
Ms. Shelby Scharbach
ILLINOIS FINANCE AUTHORITY
REPORT OF PUBLIC HEARING WITH RESPECT TO
NOT TO EXCEED $140,000,000
OF
ILLINOIS FINANCE AUTHORITY
REVENUE BONDS
(CITY OF HOPE)
SERIES 2023A
On Thursday, August 17, 2023, commencing at approximately 10:00 a.m., MST, the
undersigned, on behalf of the Illinois Finance Authority (the “Issuer”), conducted a Public Hearing
pursuant to the requirements of Section 147(f) of the Internal Revenue Code of 1986, as amended,
regarding the proposed issuance by the Issuer of its Revenue Bonds (City of Hope), Series 2023A
(the “Bonds”), in an aggregate principal amount not to exceed $140,000,000. The Public Hearing
was held telephonically via the toll-free dial-in number of 1-833-220-6615 entering code 970133
and pressing #.
The Notice of Public Hearing was published on the MCIDA.com website on August 10,
2023, and a copy of the proof of publication of Notice of Public Hearing is attached to this report.
At the time and place set for the Public Hearing, I opened the telephone call for the Public
Hearing so that interested persons could comment and be heard with respect to the proposed
issuance of Bonds. The telephonic conference line was kept open until approximately 10 minutes
after the appointed time and no other person joined the call to comment on the proposed issuance
of bonds.
No written comments or submissions were received prior to the Public Hearing.
DATED: August 17, 2023.
Shelby L. Scharbach, Executive Director
The Industrial Development Authority
of the County of Maricopa
ILLINOIS FINANCE AUTHORITY
REVENUE BONDS
(CITY OF HOPE)
SERIES 2023A,
IN AN AMOUNT NOT TO EXCEED $140,000,000
CERTIFICATE OF POSTING PUBLIC HEARING NOTICE
The notice of public hearing (the “Notice”) attached hereto as Exhibit A was published on
the website of The Industrial Development Authority of the County of Maricopa (the “Authority”)
located on the Home Page at http://www.mcida.com on August 10, 2023. The Notice was
published in an area of the Authority’s website that is used to inform the residents of Maricopa
County, Arizona about public hearings to be held by the Authority affecting the residents and that
is clearly identified and accessible to members of the general public seeking information
concerning the plan of finance described in the Notice. Evidence of the website publication of the
Notice is included with Exhibit B attached hereto. The Notice remained published on the
Authority’s website continuously through the date of the public hearing described in the Notice.
IN WITNESS WHEREOF, the undersigned, on behalf of the Authority, has set her hand
as of the date first written above.
THE INDUSTRIAL DEVELOPMENT
AUTHORITY OF THE COUNTY OF MARICOPA
m Denial A Kasi
AW L. Larson
inistrator
EXHIBIT A
TO CERTIFICATE OF PUBLICATION
NOTICE OF PUBLIC HEARING
PUBLIC NOTICE IS HEREBY GIVEN that a public hearing pursuant to Section 147(f)
of the Internal Revenue Code of 1986, as amended (the “Code”) will be held telephonically on
behalf of the County of Maricopa, Arizona, by an authorized representative of The Industrial
Development Authority of the County of Maricopa (the "Maricopa IDA") on August 17, 2023,
commencing at 10:00 a.m., MST, via the toll free dial-in number of 1-833-220-6615, (enter code
970133 and press #), with respect to the proposed issuance by the Illinois Finance Authority (the
“Issuer”) of its Revenue Bonds, Series 2023A (City of Hope) (the “Bonds”) in one or more series
from time to time, in the maximum aggregate principal amount of $350,000,000. A portion of the
proceeds of the Bonds in the maximum aggregate principal amount of $140,000,000 will be loaned
by the Issuer to City of Hope (the “Corporation”), a California nonprofit public benefit corporation,
to provide for a plan of refinancing of the costs of the projects located in the County of Maricopa,
Arizona, as hereinafter described, and to pay a portion of the costs of issuance of the Bonds. The
Bonds will be issued as qualified 501(c)(3) bonds as defined in Section 145 of the Code for the
purpose of refinancing hospital and health care facilities and related purposes.
Up to $140,000,000 aggregate principal amount of the Bonds may be issued to refinance
certain taxable indebtedness of an affiliate of the Corporation incurred to finance the acquisition
of integrated hospital and health care facilities owned or operated by related affiliates of the
Corporation and located in the County of Maricopa at the following addresses: Phoenix Cancer
Hospital located at 14200 W. Celebrate Life Way, Goodyear, Arizona 85338; and outpatient
facilities located at 3530 S. Val Vista Drive, Gilbert, Arizona 85297; 2915 and 2925 W. Rose
Garden Lane, Phoenix, Arizona 85027; 20950 N. 29% Avenue, Phoenix, Arizona 85027; 20159
North Scottsdale Road, Scottsdale, Arizona 85255; and 9755 N. 90" Street, Scottsdale, Arizona
85258.
The projects and facilities located in the County of Maricopa to be refinanced with the
proceeds of the Bonds are owned and operated by Western Regional Medical Center, Inc., doing
business as City of Hope Phoenix (an affiliate of the Corporation) or a limited liability company
of which Western Regional Medical Center, Inc. or COH HoldCo, Inc. (an affiliate of the
Corporation) is the sole member.
The projects located in the County of Maricopa to be refinanced with the proceeds of the
Bonds are located at the addresses set forth herein.
The Bonds are to be issued from time to time, in one or more series or sub-series,
commencing on the date of approval of the plan of refinancing described herein. The Issuer intends
to issue one or more series of the Bonds not later than one year from the date of approval of the
plan of refinancing described herein.
THE BONDS WILL NOT CONSTITUTE AN OBLIGATION OF THE MARICOPA
IDA, OR OF THE COUNTY OF MARICOPA, OR OF THE STATE OF ARIZONA OR ANY
OTHER AGENCY OR POLITICAL SUBDIVISION THEREOF. The Bonds will be special
limited obligations of the Issuer, payable solely out of the revenues and other funds pledged and
assigned for their payment in accordance with one or more loan agreements each between the
Corporation and the Issuer and one or more indentures pursuant to which the Bonds are
issued. The Bonds do not constitute a debt of the Issuer, the State of Illinois, or any political
subdivision thereof within the meaning of any provisions of the Constitution or statutes of the State
of Illinois or a pledge of the faith and credit of the Issuer, the State of Illinois, or any political
subdivision thereof, or grant to the owners thereof any right to have the Issuer or the General
Assembly of the State of Illinois levy any taxes or appropriate any funds for the payment of the
principal thereof or interest thereon. The Issuer has no taxing power.
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 Maricopa
County projects described herein to be refinanced with the proceeds of the Bonds. Any written
submissions must be sent to The Industrial Development Authority of the County of Maricopa,
8687 E. Via de Ventura, Suite 306, Scottsdale, Arizona 85258, Attention: President and clearly
marked “City of Hope Projects.” Written submissions should be mailed or delivered in sufficient
time to be received before August 17, 2023.
Dated: August 10, 2023
THE INDUSTRIAL DEVELOPMENT AUTHORITY
OF THE COUNTY OF MARICOPA
EXHIBIT B
TO CERTIFICATE OF PUBLICATION
EVIDENCE OF PUBLICATION
(Attached)
0 ht!
+
bo)
9
tf
p
fall
Le)
GC) > & B® 8
— oa
SINION WUsSL — edOoH Jo AqID
92130N VUIIL — TOT YESH Jauueg
SII30N VUIFL — ETOT JOURW x!Ua0yd
BION VUIFL — EZOT UENISIBYD AayjeA
7Z-91-8 AIIION VUISSL — TZOT BSEYD 31d FILS
(WY4SL) Susesy 211qGNg Jo 921I0N — ZZOZ SdsNjUa, Suluies] MAN
CT-81-7 BIIION VUSFL — TTOT EMEIIO
SADILON VuesaL
‘sieahk aAtj-AjI0J 7xOU
3] JOAO oles 9} Jo s1OW aptAoid 03 AyIUNUIWIOD
dU] UJIM BULYIOM 0} pIeMIOJ SUTYOO] are ay ‘sqol
JO spuesnoy} a}eaI9 padjay pue SuIsnoy afqepiojje
0} SSadde UdAIS ‘AJTUNUIWIOD ay} UI sIeTOp
JO SUOT][IU pa}saaul ‘spUog UI UOTT[Iq 6S UeY}
2IOUL pensst aAey am ‘sieah aAIJ-AjIOj ysed ay} 104
“sluauusaAul AllunWUWOD
nip Sayuri cay asararcearre BAA Kiauara.c a1|Ie a1 SrrAvaidiin mi Sani anti Suni
“"B}- DIOM YOSOIIW AjY yOoRNO EB sawo
v woxeppw//sdny
+] x vaow @