Travis County Commissioners Court
December 21, 2004
Item 2
Number 2 is a public hearing to receive comments regarding the proposed issuance
by the indiana health facility financing authority of its revenue bonds, a
portion of the proceeds of which will be used to finance or refinance the
acquisition, construction, renovation and equipping of capital improvements
on the respective campuses of the hospitals and other health care facilities
of the daughters of charity health services of Austin.
>> move the public hearing be opened.
>> all in favor? That passes by a unanimous vote. Morning.
>> morning, I’m harvey Davis, manager of the Travis County
corporations and I’m here with angela cokea with naman, howell, smith and
lee, which is the corporation that published the public hearing.
>> good morning.
>> and the law requires that Travis County take this action,
does it not?
>> yes, sir. Under section 147 of the i.r.s. Code -- [ inaudible
]. The notice was approved by the court on November the sixth in accordance
with federal law.
>> and the reason we're involved is that currently...
>> the property is being done in Travis County. You're asked
to approve the temporary notice.
>> and our agreement is required?
>> yes, sir.
>> or acquiescence.
>> yes, sir.
>> and y'all are representatives of the daughters of charity
for seton.
>> yes, I’m the vice-president for legal affairs and general
counsel for seton here in Austin.
>> I’m the chief financial officer for the seton health care
network.
>> and the purpose of the refinancing?
>> we have multiple projects that we are -- that are capital
expenditures that have been previously made or will be made in the next few
weeks. Most notably a portion of these funds are for the financing of the
new dell children's facility, portions of the recently completed surgical
operations at seton medical center and other expenditures at the seton northwest,
shoal creek hospital and some other miscellaneous projects that will be finalized
before the issuance is finalized. I might add that these are all new projects.
It does not impact any previously issued bonds that were issued through the
authority. And there is one positive impact that since these bonds will be
subordinate to previously issued bonds, the previously issued bonds will receive
additional security by receiving a revenue pledge that was not there previously.
So it does enhance the security of the bonds that were issued through the
authority in the past.
>> and the direct effect on Travis County is that just under
$200 million of these facilities in Travis County -- is it 100 million?
>> it will be not to exceed --
>> 190 million.
>> not to exceed 190, was that the final number?
>> I believe so.
>> in Travis County. Would anyone like to give testimony
during this public hearing? If so, please come forward.
>> move the public hearing be closed.
>> second.
>> this will be action item number 37 on -- that we will
call up in just a moment. All in favor? That passes by unanimous vote.
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Last Modified:
Wednesday, October 26, 2005 2:32 PM