Title
PUBLIC HEARING AND RESOLUTION APPROVING THE ISSUANCE OF REVENUE BONDS FOR THE BENEFIT OF CATHOLIC CARE CENTER AND VIA CHRISTI HOSPITAL ON ST. TERESA BY THE WISCONSIN HEALTH AND EDUCATIONAL FACILITIES AUTHORITY.
Presented By: Chris Chronis, Chief Financial Officer.
RECOMMENDED ACTION: Open hearing and receive public comment, close the public hearing, and adopt the resolution.
Body
Since 1989, the County has been the issuer of health care facilities revenue bonds for the benefit of Catholic Care Center, Inc., which bonds have been used to acquire, construct, and remodel the nursing home and assisted living facility known as the “Catholic Care Center” located at 6700 East 45th Street North, now within the city limits of the City of Bel Aire. Most recently, the County issued its Health Care Facilities Refunding Revenue Bonds, Series 2010 (Catholic Care Center, Inc.) (the “2010 Bonds”) which are the only bonds currently outstanding with respect to these facilities. Catholic Care Center, Inc. is a joint venture between Via Christi Health, Inc. and the Catholic Diocese of Wichita.
In addition, Via Christi Hospital Wichita St. Teresa, Inc., a wholly-owned subsidiary of Via Christi Health, Inc., operates certain hospital and related facilities located at 14800 W. St. Teresa, and the Northeast Corner of 151st Street West and 21st Street North, in the County, known as “Via Christi Hospital on St. Teresa.” The City of Wichita, Kansas previously issued certain revenue bonds (the “Wichita Bonds”), a portion of the proceeds of which were used to acquire, construct, equip, and furnish Via Christi Hospital at St. Teresa, which is located in the unincorporated area of the County, outside the Wichita city limits.
Recently, Ascension Health Alliance (“Ascension”) became the 100% member of Via Christi Health, Inc. In connection with this change in control, Ascension intends to have the Wisconsin Health and Educational Facilities Authority issue revenue bonds (the “...
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