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Advent Health Bond Issuance TEFRA Hearing
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recommendation
County Administration
Conduct a public hearing to consider approving a resolution for the issuance of Hospital Revenue Bonds to Advent Health on July 28, 2026, at 10 a.m., or soon thereafter as may be heard, in Room 119, Commission Chambers located at 18500 Murdock Circle, Port Charlotte, FL 33948.
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Budgeted Action:
No action needed.
Background:
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AdventHealth Port Charlotte, Inc. is requesting the Highlands County Health Facilities Authority and the Colorado Health Facilities Authority to each issue its Hospital Revenue Bonds under a plan of finance in an aggregate principal amount not to individually exceed $400,000,000, with respect to facilities in Charlotte County, in one or more series. The bond issue is to cover the recent acquisition of the two hospital sites in Charlotte County. As AdventHealth is a non-profit and the hospitals are a public benefit, they qualify for tax exempt status. To confirm the tax-exempt status, a hearing, known as a TEFRA hearing, is required before the jurisdiction in which the project is located.
The bonds shall not constitute a debt, liability, or obligation of Charlotte County, or a pledge of faith and credit or any taxing power of Charlotte County but shall be limited obligations of the related issuer payable solely from and secured by a pledge of payments made by the borrowers of the bond proceeds.
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