Travis County Commissioners Court
October 3, 2006
Item 2
Number 2 is a public hearing to receive comments regarding the proposed issuance by the indiana health and education facility authority of 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 open.
>> second.
>> all in favor? That passes by unanimous vote.
>> good morning, I'm cliff blunt and would just like to state that notice of the public hearing was published in the Austin american-statesman as required by the internal revenue code more than 14 days ago. And --
>> and what's it about in laymen's language in 60 seconds?
>> in 60 seconds, daughters of charity is entering into a new financing being done by an issuer from indiana. In order for that to be done and for that issuance to be tax exempt, they need an approval, that's the tax law that requires these hearings, a tougher approval from the Commissioners court which must be receded by the public hearing and that is the public hearing that we're holding now.
>> okay. Would anyone like to give testimony during this public hearing?
>> judge, let me show abstaining on this particular version because my wife is employed by the daughters of charity and also action item 30, submitted a document to the county clerk substantiating and recording my abstention from participating.
>> okay. Thank you, Commissioner.
>> second.
>> would anyone like to give testimony during this public hearing? If so, please come forward. There is an issue and that is the request for waiver of the fee. Which really came to my attention last night as I read the backup and prepared for today's meeting. Now, we issued bonds a few years ago.
>> yes, we did.
>> and seton is paying Travis County an annual fee for that issuance.
>> right. And those bonds have been defeesed.
>> and that fee has gone away.
>> no. The bonds have been defeesed and there's no longer an out standing obligation.
>> the fee is the focus.
>> the fee continues to be paid. I forget what the agreement is.
>> through 2009 which I believe was the first call date on the bonds when they were issued in 1999.
>> so the 2006 payment I believe -- I believe they are November 1st payments.
>> October 31st.
>> so four more, 2006, 7, 8 and 9, four more payments.
>> how much is the fee?
>> $267,000 a year.
>> slightly over a million dollars.
>> fees request is based on the annual fee that we are still paying, we request that you waive your usual fee for this tefro.
>> that's correct, that you had otherwise assessed on an issuer who could issue bonds through the county authority but they are being issued through an out-of-state authority.
>> are we going to talk about this during the actual action item?
>> if you will stick around for the next 15 minutes, we'll bring out the action item but I thought I would let you know we need to take action. Nobody is here to testify during the public hearing. Everybody is curious about the fee by now probably. Motion to close the public hearing.
>> second.
>> all in favor? That passes by unanimous vote. We'll call action item 30 up --
>> show me abstaining.
>> we're going to call it up soon. After we call up 21. Okay?
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Last Modified:
Wednesday, October 4, 2006 4:29 PM