Notice of Public Hearing
NOTICE OF PUBLIC HEARING
FOR ISSUANCE OF QUALIFIED 501(c)(3) BONDS
BY THE WASHINGTON HEALTH CARE FACILITIES AUTHORITY
The Washington Health Care Facilities Authority (the “Authority”) will hold a public hearing using a toll-free telephone number at the date and time designated below regarding the proposed issuance by the Authority of one or more of its qualified 501(c)(3) bonds, as defined in Section 145 of the Internal Revenue Code of 1986, as amended (the “Code”), for health care facilities, in an original principal amount not to exceed $4,480,000 (the “Bond”). The proceeds of the Bond will be lent to Yakima Neighborhood Health Services (the “Borrower”), a Washington nonprofit corporation and a “501(c)(3) organization” (as defined in the Code) for the purpose of providing all or part of the funds necessary to:
(1) refund all or a portion of the Authority’s Revenue Bond, Series 2008 (Yakima Neighborhood Health Services), which refinanced the following:
(a) the outstanding portion of the Washington Health Care Facilities Authority Weekly Rate Demand Revenue Bonds, Series 2003 (Washington Association of Community and Migrant Health Centers) allocated to the Borrower (the “Pooled Bond”); (b) a loan used to finance the acquisition, construction, remodeling, renovation and equipping of health care facilities located at 617 Scoon Road, Sunnyside (the “Sunnyside Campus”); (c) an equipment loan used to finance the acquisition of equipment for health care facilities located at 12 South 8th Street, Yakima (“YNHS Campus”) and the Sunnyside Campus; (d) the outstanding balance on a revolving line of credit the proceeds of which were used to finance the acquisition and construction of a parking lot adjacent to the YNHS Campus.
The proceeds of the Pooled Bond were used to finance: (i) the construction of a medical and dental clinic located at the YNHS Campus; (ii) the relocation of a building to the YNHS Campus and the remodeling of such building to integrate it with the existing clinic building, and (3) the acquisition of a management information system and other equipment for use at the health facilities located on the YNHS Campus.
(2) finance, including reimbursement for, the acquisition, equipping and remodeling of the YNHS Terrace Heights facility located at 2501 Business Lane, Yakima, Washington in an aggregate principal amount not to exceed $2,148,000.
The health care facilities described above are all located in the State of Washington and will be owned and operated by the Borrower.
A public hearing with respect to the proposed issuance of the Bonds will be held at 10:00 a.m. on February 3, 2022. In light of the COVID-19 public health crises, such public hearing is being conducted remotely, through the use of a telephone conference. All interested persons are invited to listen to, and participate in, the public hearing by calling into the teleconference using the toll-free number 1-855-929-3239 and entering conference code 3720 2330#. In order to facilitate registration of participants to the teleconference, it is requested that such persons call the above number no later than 9:55 a.m. (5 minutes before start time). Written comments can be submitted to the Authority via email at email@example.com, no later than 9:30 a.m. (30 minutes before start time) on the date of the public hearing.
Dated: January 26, 2022