News & Updates

Notice of Public Hearing Pursuant to the Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA)

March 19, 2015 General

GROSSMONT HEALTHCARE DISTRICT

NOTICE OF PUBLIC HEARING PURSUANT TO SECTION 147(f) OF THE
INTERNAL REVENUE CODE OF 1986
FOR THE FINANCING AND REFINANCING OF
CERTAIN HEALTH CARE FACILITY PROJECTS
WITH PROCEEDS FROM THE SALE OF TAX-EXEMPT BONDS

Notice is hereby given that on April 6, 2015, at 7:30 a.m. or as soon thereafter as the matter can be heard, the Board of Directors of the Grossmont Healthcare District (the “District”) will hold a public hearing as required by Section 147(f) of the Internal Revenue Code of 1986, with respect to the proposed issuance by the District of one or more series of its General Obligation Bonds, in an amount not to exceed $225,000,000 (the “Bonds”).  The proceeds of the Bonds (net of issuance costs and adjusted by any original issue premium or discount) will be used to finance and refinance (a) certain capital improvements to Sharp Grossmont Hospital (the “Hospital”), which is owned by the District and currently is leased by the District to Grossmont Hospital Corporation (the “Corporation”), a nonprofit public benefit corporation wholly controlled by Sharp HealthCare, a nonprofit public benefit corporation, and (b) other capital improvements to property owned and operated by the District, as follows:

(1) to refinance a portion of the District’s outstanding General Obligation Bonds, 2006 Election, 2007 Series A and 2011 Series B, the proceeds of which were used, or were eligible to be used, to finance the construction, expansion, improvement or acquisition of certain hospital and healthcare facilities, which are various components of the Grossmont Hospital’s Facilities Master Plan (including any amendments thereto), including:  (a) the Hospital, located at 5555 Grossmont Center Drive, La Mesa, California, which is owned by the District and operated by the Corporation, including (i) the construction, expansion and improvement of an approximately three-story surgical link diagnostic and treatment building, including operating rooms and/or interventional suites, catheterization labs and interventional radiology labs, (ii) the construction, expansion and improvement of a central plant, (iii) expansion and improvement of a patient tower, and (iv) utility and loading dock improvements, and (b) a healthcare training and occupation center, located at 9141, 9151 and 9161 Wakarusa Street and 9080 Murray Drive, La Mesa, California, which are properties owned and operated by the District; and

(2) to finance additional construction, expansion, improvement or acquisition of the hospital and healthcare facilities that are various components of the Grossmont Hospital’s Facilities Master Plan (including any amendments thereto), to be located at (a) the Hospital, located at 5555 Grossmont Center Drive, La Mesa, California, which is owned by the District and operated by the Corporation, or (b) 9141, 9151 and 9161 Wakarusa Street and 9080 Murray Drive, La Mesa, California, which are properties owned and operated by the District.

The hearing will be held at the Grossmont Healthcare Conference Center, located at 9001 Wakarusa Street, La Mesa, California.  Interested persons wishing to express their views on the issuance of the Bonds or on the nature and location of the facilities proposed to be financed and/or refinanced will be given an opportunity to do so at the public hearing or may, prior to the time of the hearing, submit written comments to the District at the address set forth above.

s/_______________Barry M. Jantz_____________

Chief Executive Officer

Dated:  March 20, 2015.