• PUBLIC HEARING NOTICE The P...

PUBLIC HEARING NOTICE



The Pennsylvania Higher Educational Facilities Authority (the "Authority") will hold a public hearing on November 20, 2017 at 9:00 a.m., prevailing time, at the offices of the Authority located at 1035 Mumma Road, Wormleysburg, PA 17043 in connection with a plan of finance for the proposed issuance of up to $600,000,000 tax-exempt revenue bonds (the "Bonds"), in one or more series on one or more dates.


A. Initial Owner: The Trustees of the University of Pennsylvania (the "University"), a Pennsylvania nonprofit corporation which owns and operates the University of Pennsylvania Health System (the "System"), which consists of the Hospital of the University of Pennsylvania and the Clinical Practices of the University of Pennsylvania (which are designated units of the University), together with the following Pennsylvania nonprofit corporations, all of which are wholly-controlled affiliates of the University: Presbyterian Medical Center of the University of Pennsylvania Health System d/b/a Penn Presbyterian Medical Center ("PPMC"), Clinical Care Associates of the University of Pennsylvania Health System ("Clinical Care Associates"), Wissahickon Hospice ("Wissahickon Hospice"), Pennsylvania Hospital of the University of Pennsylvania Health System ("Pennsylvania Hospital"), The Chester County Hospital and Health System ("TCCHHS"), Lancaster General Health ("LGHealth") and The Lancaster General Hospital ("LGH").


B. Maximum Amount of Issue: $600,000,000.


C. Purpose of Financing and Nature of the Financed Facilities: The proceeds of the Bonds will be used for a project (the "Project") consisting of the financing of: (a) construction of a 17-story, 1,500,000 square foot, 500- patient bed pavilion for the Hospital of the University of Pennsylvania (the "HUP Pavilion"); (b) construction of an up to 250,000 square foot office building and administrative center (the "Center for Health Care Technology"); (c) other capital expenditures included in the System's capital budget; (d) the payment of capitalized interest on the Bonds; and (e) the payment of certain costs of issuance in respect of the Bonds.


D. Location of Facilities: The facilities being financed by the Bonds are located (i) on the University's campus bounded by Spruce Street and South Street on the North, Health Sciences Drive and Convention Avenue on the South and East, and University Avenue on the West, in the City of Philadelphia, Pennsylvania; (ii) on the TCCHHS campus bounded by Goshen Road on the North, E. Marshall Street to the East and South and Marshall Drive to the West, in West Goshen Township, Chester County, Pennsylvania and the Borough of West Chester, Chester County, Pennsylvania; (iii) on the PPMC campus bounded by Baring Street on the North, Market Street on the South, 38th Street on the East and 40th Street on the West, in the City of Philadelphia, Pennsylvania; (iv) on the Pennsylvania Hospital campus bounded by 9th Street on the West, 7th Street on the East, Locust Street on the North and Pine Street on the South, in the City of Philadelphia, Pennsylvania; (v) on the Penn Medicine Washington Square facilities bounded by Walnut Street on the North, 8th Street on the East, Locust Street on the South and 9th Street on the West, in the City of Philadelphia, Pennsylvania; (vi) on the Penn Medicine University City facilities bounded by Market Street on the South, 36th Street to the East, 38th Street to the West and Filbert Street to the North in the City of Philadelphia, Pennsylvania; and (vii) on the Penn Medicine at Radnor facilities located at 250 King of Prussia Road in Radnor Township, Delaware County, Pennsylvania. The HUP Pavilion will be located at 1 Convention Avenue, and the Center for Health Care Technology will be located at 3600 Civic Center Boulevard, both in the City of Philadelphia, Pennsylvania.


At the public hearing, any and all persons in attendance will be afforded an opportunity to comment on the proposed Project and the issuance by the Authority of its Bonds. If you need an accommodation due to disability and want to attend the meeting, please call 717-975-2204 at least 24 hours in advance so arrangements can be made.


This notice is published and the public hearing is being held by and on behalf of the Authority as the issuer of the Bonds in accordance with the requirements of Section 147(f) of the Internal Revenue Code of 1986, as amended, and the regulations promulgated thereunder.


Interested persons can also submit written comments on the plan of financing at least twenty-four hours before the hearing to the Pennsylvania Higher Educational Facilities Authority, 1035 Mumma Road, Wormleysburg, PA 17043, Attention: Executive Director.

PENNSYLVANIA HIGHER EDUCATIONAL
FACILITIES AUTHORITY





Ref# 0003337439-01
PostedNovember 05, 2017