Travis County Commissioners Court
December 21, 2004
Item 37
Item number 37 is the action item pertaining to the public hearing number
2, and it is to consider and take appropriate action on request for resolution
approving a tax exempt bond financing by the indiana health facility financing
authority for daughters of charity health services of Austin, and I move approval.
>> second.
>> any discussion?
>> yes, judge. I'd like to say that when these bonds are
issued, and I notice they have been doing things out there at the dell children's
hospital site. And after these bonds are issued, can you possibly tell me
when you have any knowledge of when this money will be infused to ensure that
that particular project is completed? For people who may not know in the viewing
audience, I understand it is going to be used for that, this is that area
that's right in the northwest corner of 51st and cameron road, i-35 frontage.
And I notice there has been dirt turning and groundbreaking and other things
have been taking place. Is this action that's taking place today, along with
-- if you know, if this money will be used to make sure that that project
goes to its proper completion and there won't be any interruption in the procedures
and the construction of it? Can anybody answer that? If not, you don't have
to worry about it.
>> this is only a portion of the funding that will be necessary
for that project. This issue will be going to market and will be closed in
January. And there will be no interruption in the schedule of the completion
of the facility. We have been approved for this money by ascension health,
which is a member of our organization. So we have all the approvals and the
funding that is necessary to complete the project, and don't anticipate any
difficulty at this time at all. There will be additional borrowings in the
future for these projects, but in the interim, the procedure that ascension
health has is that the expenditures that we make are financed through a commercial
paper vehicle that ascension health utilizes then when they get a large amount
of that type of financing in place, then they roll that into a tax exempt
issue such as we're doing today.
>> the only other thing I would add is that the expected
completion date is in 2007 for the dell children's medical center. We do expect
that to -- we're looking to bring that in on time.
>> okay, thank you for that additional information.
>> thank you.
>> any more discussion of the motion to approve? All in favor?
That passes by unanimous vote. Thank you very much.
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Last Modified:
Wednesday, October 26, 2005 2:27 PM