NOTICE OF PUBLIC HEARING
Notice is hereby given pursuant to Section 147(f) of the Internal Revenue Code of 1986, as amended (the “Code”) that on Thursday, April 20, 2023, a public hearing will be held in Conference Room 4QV at the law offices of Bowles Rice LLP, 600 Quarrier Street, Charleston, WV 25301, and by teleconference, Toll Free dial in number:1-888-475-4499, Meeting ID:870 3985 9545, Password: 004876, commencing at 12:00 Noon, local time, with respect to the proposed issuance by the West Virginia Hospital Finance Authority (the “Issuer”) of qualified 501(c)(3) bonds as defined in Section 145 of the Code and as described below.
The Issuer intends to issue its Hospital Revenue Improvement Bonds (West Virginia University Health System Obligated Group) 2023 Series, in one or more series, on a taxable or tax-exempt basis, and in an original aggregate principal amount not to exceed $300,000,000 (the “Bonds”), the proceeds of which will be loaned to the West Virginia United Health System, Inc. d/b/a West Virginia University Health System, a West Virginia nonprofit corporation (“WVUHS”), as obligated group agent (the “Obligated Group Agent”) on behalf of the West Virginia University Health System Obligated Group, consisting of (i) WVUHS, (ii) West Virginia University Hospitals, Inc., a West Virginia nonprofit corporation (“WVUH”), (iii) City Hospital, Inc. d/b/a Berkeley Medical Center, a West Virginia nonprofit corporation (“Berkeley Medical”), (iv) University Healthcare Foundation, Inc., a West Virginia nonprofit corporation (“UHF”), (v) The Charles Town General Hospital d/b/a Jefferson Medical Center, a West Virginia nonprofit corporation (“Jefferson Medical”), (vi) United Hospital Center, Inc., a West Virginia nonprofit corporation (“UHC”), (vii) Camden-Clark Memorial Hospital Corporation d/b/a CamdenClark Medical Center, a West Virginia nonprofit corporation (“CCMC”), (viii) Barnesville Hospital Association, Inc., an Ohio nonprofit corporation (“Barnesville”), (ix) Braxton County Memorial Hospital, Inc., a West Virginia nonprofit corporation (“Braxton”), (x) Community Health Association d/b/a Jackson General Hospital, a West Virginia nonprofit corporation (“Jackson General”), (xi) Potomac Valley Hospital of W. Va., Inc., a West Virginia nonprofit corporation (“PVH”), (xii) Reynolds Memorial Hospital, Inc., a West Virginia nonprofit corporation (“Reynolds”), (xiii) St. Joseph’s Hospital of Buckhannon, Inc., a West Virginia nonprofit corporation (“St. Joseph’s”), (xiv) The West Virginia Health Care Cooperative, Inc. d/b/a Summersville Regional Medical Center, a West Virginia nonprofit corporation (“Summersville”), (xv) Uniontown Hospital, a Pennsylvania nonprofit corporation (“Uniontown”), and (xvi) Wetzel County Hospital, Inc., a West Virginia nonprofit corporation (“Wetzel”) (each a “Member,” and collectively, the “Obligated Group”); and used to finance (a) on behalf of WVUH, (i) the construction, renovation, expansion and equipping of improvements to the second, fourth and sixth floors of J.W. Ruby Memorial Hospital, including but not limited to adding additional adult beds, the expansion of operating room services, adding additional physician office space, increasing loading docks and supply chain space and adding additional endoscopy rooms, PACU beds and pre- and post-operation bays at the hospital campus located at 1 Medical Center Drive, Morgantown, West Virginia and the construction and equipping of a new outpatient physical therapy medical office building located adjacent to 6040 University Town Centre Drive, Morgantown, West Virginia, in a principal amount not to exceed $175,000,000; and (ii) the construction, renovation, expansion and equipping of improvements to Fairmont Medical Center located at 1325 Locust Avenue, Fairmont, West Virginia in a principal amount not to exceed $70,000,000; (b) on behalf of Jackson General, the construction, development and equipping of a two-story addition to Jackson General’s hospital facilities which will include, without limitation, a new emergency department with 14 private rooms, a surgical department with 12 pre- and post-anesthesia bays, two operating suites and two procedure rooms and a second floor serving as an inpatient/swing bed floor with 18 private rooms for the hospital campus located at 122 Pinnell Street, Ripley, West Virginia in a principal amount not to exceed $35,000,000; (c) capitalized interest on the Bonds; and (d) the costs of issuing the Bonds.
All of such uses are permitted by Chapter 16, Article 29A of the Code of West Virginia, 1931, as amended (the “Act”), and one or more loan agreements to be executed by the Issuer and the Obligated Group Agent.
The Bonds will be special obligations of the Issuer and pursuant to the Act, will not constitute a debt or a pledge of the faith and credit of the Issuer or a pledge of the faith and credit or taxing power of the State of West Virginia or any political subdivision thereof.Persons wishing to express their views on the proposed issuance of the Bonds may appear at the hearing or may submit their views in writing regarding the proposed issuance of the Bonds and the nature of the projects to be financed therewith.Any written submissions should be sent to the West Virginia Hospital Finance Authority, 1124 Smith Street, Suite B100B, Charleston, WV 25301, Attention:Chairman, and clearly marked “Re: West Virginia Hospital Finance Authority’s Hospital Revenue Bonds (West Virginia University Health System Obligated Group), 2023 Series.”Written submissions should be mailed in sufficient time to be received before April 20, 2023.
The State of West Virginia acting by and through the West Virginia Hospital Finance Authority, James R. Christie, Chairman.
Posted on April 12, 2023