| | | | | | | | | 
BOCC AGENDA ITEM
|
| | | | | | | |
| Item Title: | Resolution Approving an Interlocal Agreement with the City of Jacksonville re: Baptist Bonds | | Date: | 5/23/2022 | | Department: | OMB |
|
| | | | | | | | | Background: | Southern Baptist Hospital of Florida, Inc. (Borrower), desires to finance, reimburse or refinance all or a portion of the costs of the acquisition, planning, development, construction, renovation ,improvement, equipping and installation of certain health care facilities located or to be located in Nassau County, FL.
The Borrower (Baptist) will recognize substantial cost savings by financing or reimbursing all or a portion of the costs of the Project through a single plan of finance consisting of the issuance by the City of Jacksonville, FL (the Issuer), of its Health Care Facilities Revenue Bonds.
The Issuer has requested the the Board of County Commissioners consider and approve the Issuer's issuance of the Bonds, to the extent the interest on such Bonds is to be exempt from federal income taxation, in accordance with Section 147(f) of the Internal Revenue Code of 1986, as amended
The Borrower has requested that the Board authorize the execution and delivery of an Interlocal Agreement to be entered into between Nassau County and the Issuer to allow the issuance by the Issuer of the Bonds to pay a part of the costs of the project to be located in Nassau County, the amount thereof not to exceed $30,000,000. | | Request: | | Approve a Resolution approving an Interlocal Agreement with the City of Jacksonville, FL; approving the issuance by the Issuer of its Health Care Facilities Revenue Bonds (Baptist Health) to finance, reimburse, or refinance all or a portion of the costs of the acquisition, planning, development, construction, renovation, improvement, equipping and installation of health care facilities located or to be located in Nassau County; and providing an effective date. | | Financial/Economic Impact to Future Years Budgeting Process or Effect on Citizens: | | Issuance of Bonds by City of Jacksonville will result in a significant cost savings to the Borrower for the portion of the Project to be located in Nassau County, which will provide much needed medical facilities. The approval by the Board of the issuance of the Bonds by the Issuer shall not be construed to obligate Nassau County to incur any liability, pecuniary or otherwise, in connection with either the issuance of the Bonds or the acquisition and construction of the Nassau County Project. | | Action Requested and Recommendation: | | Approve a Resolution approving an Interlocal Agreement with the City of Jacksonville, FL; approving the issuance by the Issuer of its Health Care Facilities Revenue Bonds (Baptist Health) to finance, reimburse, or refinance all or a portion of the costs of the acquisition, planning, development, construction, renovation, improvement, equipping and installation of health care facilities located or to be located in Nassau County; and providing an effective date. | | Is this action consistent with the Nassau County Comprehensive Land Use Plan? | | Yes | | Funding Source: | | N/A |
|
| | | | | | | |
| Additional Information Needed for Contracts/Agreements (If Applicable) | | | Contract Number assigned by Contracts Management: | | CM3187 | | For non-governmental agencies, has the document been sent to the vendor for signature? | | No | | Does the document need to be recorded? If so, who will pay the recordation fee? | | N/A | | Are there any special mailing instructions? (Include contact name, address, deadline for submittal, how to mail such as express mail, FedEx, etc): | Please send three (3) originals of the Interlocal Agreement via overnight mail to:
Patrice T. De Wees
McGuireWoods LLP
Gateway Plaza
800 East Canal Street
Richmond, VA 23219-3916
Please send an executed copy to:
pdewees@mcguirewoods.com
cwrandolph@mcguirewoods.com | | How many originals are needed? | | 3 |
|
|