NOTICE OF A JOINT PUBLIC HEARING
Notice is hereby given that the Monroe County Board of Commissioners will hold a joint public hearing, on behalf of the Monroe County Hospital Authority (the “Authority”), Monroe County, Pennsylvania, Lehigh County, Pennsylvania, Luzerne County, Pennsylvania and Northampton County, Pennsylvania, on May 15, 2024 at 9:30 a.m. local time at Room 203 at the Monroe County Administrative Center, One Quaker Plaza, Stroudsburg, Pennsylvania 18360, in connection with the proposed issuance of tax exempt bonds (the “Bonds”) by the Authority for a hospital bond financing pursuant to a plan of finance in one or more series for the benefit of one or more affiliates of The Centurion Foundation, Inc., a Georgia nonprofit corporation and an organization described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended (the “Code”) (collectively, the “Borrower”).
The Bonds will be issued in an aggregate principal amount not to exceed $160,000,000, as qualified 501(c)(3) bonds as defined in section 145 of the Code for hospital facilities. The proceeds will be used to (i) purchase several healthcare facilities, including medical office buildings, surgery centers, outpatient facilities, imaging facilities, physical and occupational therapy facilities, nursing facilities, behavioral health facilities, nursing dormitory space, data, IT and/or other operational support facilities (collectively, the “Facilities”) and fund an allowance for certain tenant improvements at the Facilities; (ii) fund any required reserves and capitalized interest for the Bonds; and (iii) pay costs of issuance for the Bonds, at the locations and in the estimated maximum principal amounts listed below:
Monroe County
600 Commerce Boulevard, Stroudsburg, PA$15,000,000
179 Independence Road, East Stroudsburg, PA$14,000,000
Lehigh County
2024 Lehigh Street, Allentown, PA$19,000,000
1040 Chestnut Street, Emmaus, PA$4,500,000
1628 - 1650 West Chew Street, Allentown, PA$18,500,000
Luzerne County
26 Station Circle, Hazleton, PA
$27,500,000
Northampton County
2300 - 2310 Highland Avenue, Bethlehem, PA$44,500,000
2030 Highland Avenue, Bethlehem, PA$17,000,000
Following their acquisition, the Facilities will be leased to Lehigh Valley Hospital, Inc. and/or one or more other affiliates of the Lehigh Valley Health Network, Inc. (collectively, the “Users”), which Users are organizations described in Section 501(c)(3) of the Code. The Facilities will be owned by the Borrower and operated by the Users in accordance with their charitable purposes.
At the public hearing, members of the public may appear in person and/or submit written comments via mail or e-mail to
Robert J. Gress, Chief Clerk, Monroe County Commissioners, Monroe County DMFIRM #411884746 v6Administrative Center,
rgress@monroecountypa.gov.
One
Quaker
Plaza,
Stroudsburg,
Pennsylvania
18360;
E-mail:
DEBT FINANCINGS OF THE MONROE COUNTY HOSPITAL AUTHORITY ARE NOT
OBLIGATIONS OF THE COMMONWEALTH OF PENNSYLVANIA, NOR OF ANY COUNTY, CITY,
BOROUGH, TOWNSHIP OR OTHER POLITICAL SUBDIVISION OF THE COMMONWEALTH OF
PENNSYLVANIA.
This notice is published in accordance with, the public notice requirements of Section 147(f) of the
Code and regulations promulgated thereunder.
MONROE COUNTY BOARD OF COMMISSIONERS
Robert J. Gress, Chief Clerk Administrator
Monroe County Administrative Center
One Quaker Plaza, Stroudsburg, Pennsylvania 18360
570-517-3102
DMFIRM #411884746 v6
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