General Information

Government Type

County

Entity

Utah County

Public Body

Board of Commissioners of Utah County

Notice Information

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Notice Title

Notice of Public Hearing Regarding Plan to Issue Revenue Bonds

Notice Subject(s)

Administrative Rules and Procedures

Notice Type(s)

Notice, Meeting, Hearing

Event Start Date & Time

June 7, 2016 09:00 AM

Description/Agenda

NOTICE OF PUBLIC HEARING NOTICE IS HEREBY GIVEN that a public hearing will be held on Tuesday, June 7, 2016, at 9:00 A.M., in Room 1400 of the Utah County Administration Building, 100 E. Center Street, Provo, Utah, by the Board of County Commissioners of Utah County, Utah (the 'Issuer'), regarding a plan to issue its revenue bonds (the 'Bonds') in one or more series and in an aggregate principal amount not to exceed $310,000,000, in addition to bonds previously approved by the Issuer as described below. The proceeds of the Bonds will be loaned to IHC Health Services, Inc., a Utah nonprofit corporation ('Intermountain'), and used, together with other available funds, to (i) finance, refinance, or reimburse Intermountain for its prior payment of, the costs of acquiring, constructing and equipping certain of the health care facilities described below which are or will be owned by Intermountain, (ii) fund a debt service reserve fund, if deemed advisable by the Issuer and Intermountain, and (iii) pay certain expenses incurred in connection with the issuance of the Bonds, including any premium and fees associated with the credit or liquidity enhancement of the Bonds, if credit or liquidity enhancement is deemed advisable by the Issuer and Intermountain. The proceeds of the Bonds will be used to finance, refinance, or reimburse Intermountain for the costs of acquiring, constructing, improving or renovating the facilities listed below and the costs of acquiring equipment (including, but not limited to, medical equipment, computer equipment, office equipment and general building equipment and fixtures) to be used at the facilities listed below. A general functional description and the location of each such facility, and the estimated maximum aggregate face amount of Bonds to be issued with respect to each such facility, are listed below: Davis County: (i) a new facility consisting of approximately 205,000 square feet of hospital space and approximately 115,000 square feet of medical clinic space located on a parcel of land consisting of approximately 36 acres on the Southeast corner of Flint Street and Layton Parkway, Layton, Utah - $130,000,000; and (ii) expansion of facilities at Bountiful Clinic, consisting of approximately 60,000 square feet of new medical clinic space located at 390 North Main Street, Bountiful, Utah - $25,000,000. Sandy City: Replacement, renovation, and expansion of facilities at Alta View Hospital, an acute-care hospital, including, but not limited to, approximately 160,000 square feet of hospital replacement space and approximately 110,000 square feet of medical clinic space, all located on the Alta View Hospital campus at 9660 South 1300 East, Sandy, UT - $130,000,000. Wasatch County: renovation and expansion of facilities at Heber Valley Medical Center, a 19-bed general acute-care hospital, including, but not limited to, approximately 20,000 square feet of hospital renovation and expansion space located at 1485 South Highway 40, Heber City, UT - $25,000,000. On July 8, 2014, the Issuer approved a plan to issue its revenue bonds in one or more series and in an aggregate principal amount not to exceed $630,000,000, to finance, refinance, or reimburse Intermountain for its prior payment of, the costs of acquiring, constructing and equipping certain of its health care facilities located in Davis County, Utah, Murray City, Utah, Riverton City, Utah, Washington County, Utah, and Utah County, Utah (the 'Prior Approval'). The public hearing referred to above, and consideration by the Issuer of the approval of the Bonds referred to below, is in addition to and not in substitution for the Prior Approval. The Bonds and all obligations of the Issuer in connection therewith shall be payable solely and exclusively from the revenues arising from the pledge and assignment of one or more loan agreements and of one or more notes of Intermountain given as security for the Bonds and in no event shall constitute a general obligation or liability of the Issuer or a charge against its general credit or taxing powers. The public hearing referred to above is required by Section 147(f) of the Internal Revenue Code of 1986, as amended (the 'Code'). Interested individuals are invited to express their views, either orally or in writing, on the proposed issuance of the Bonds. Comments at the public hearing are invited. Written comments may be submitted to the Issuer at its offices located in Room 3600 of the Utah County Administration Building, 100 E. Center Street, Provo, Utah 84606 Attention: Commission Clerk, until the commencement of the public hearing. Additional information can be obtained from the Issuer at its office shown above. Subsequent to the public hearing, the Board of County Commissioners of the Issuer will consider whether to approve the issuance of the Bonds for purposes of Section 147(f) of the Code. In compliance with the Americans With Disabilities Act, individuals needing special accommodations (including auxiliary communicative aids and services) during this hearing should notify Renee Caron at (801) 851-8111 at least three days prior to the hearing. DATED: May 24, 2016. UTAH COUNTY, UTAH By /s/ Larry Ellertson, Chair ATTEST: By /s/ Bryan E. Thompson, Utah County Clerk/Auditor

Notice of Special Accommodations (ADA)

NOTICE OF SPECIAL ACCOMMODATION DURING PUBLIC MEETINGS In compliance with the Americans with Disabilities Act, individuals needing special accommodations (including auxiliary communicative aids and services) during this meeting should notify Renee Huggins-Caron at 801-851-8111. Handicap parking is available, as well as a level entrance to the building. Interpretation services are available with prior notice for the hearing disabled.

Notice of Electronic or Telephone Participation

Electronic/telephone participation is available for board members.

Meeting Information

Meeting Location

100 East Center Street
Room #1400
Provo, UT, 84606
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Contact Name

Alice Black

Contact Email

aliceb@utahcounty.gov

Contact Phone

(801)851-8111

Notice Posting Details

Notice Posted On

May 18, 2016 12:36 PM

Notice Last Edited On

May 18, 2016 12:36 PM

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