29644090 - Florida Administrative Rules, Law, Code, Register

Florida Department of State and Division of Library and Information Services


Notice: 29644090
Notice of Meeting/Workshop Hearing

Division:	Bryant Miller Olive


Overview



	The Capital Trust Authority announces a hearing to which all persons are invited.

DATE AND TIME:	June 19, 2025 at 11:00 A.M. CDT/12:00 P.M. EDT

PLACE:	Telephonic hearing using the instructions as provided herein.

Subject:	NOTICE OF TELEPHONIC PUBLIC HEARING The Capital Trust Authority (the "CTA") has been requested by Shands Teaching Hospital and Clinics, Inc., a Florida not for profit corporation, and an organization described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended (the "Code"), and/or one or more related and/or affiliated entities (collectively, the "Borrower"), to issue its Health Facilities Revenue and Revenue Refunding Bonds, in one or more series of tax-exempt qualified 501(c)(3) bonds or taxable bonds, in an aggregate principal amount not to exceed $950,000,000 (the "Bonds"). For the purposes of Section 147(f) of the Code, notice is hereby given that, in accordance with the Internal Revenue Service Revenue Procedure 2022-20, a telephonic public hearing will be held by a hearing officer on behalf of the CTA on June 19, 2025 at 11:00 A.M. CDT/12:00 P.M. EDT, or as soon thereafter as the matter may be heard, using the telephone conference instructions provided herein. The purpose of the hearing is to take public comments regarding the issuance of the Bonds by the CTA, the nature and location of the Project (hereinafter defined) and the plan of finance. The plan of finance contemplates that the CTA will issue, in respect to the Project, not exceeding $950,000,000 in aggregate principal amount of its Bonds, in one or more series of tax-exempt qualified 501(c)(3) bonds or taxable bonds, and loan the proceeds of the Bonds to the Borrower for the principal purposes of: (i) financing and/or reimbursing the cost of acquiring, constructing, improving and equipping certain healthcare facilities of the Borrower, as generally described below (the "Project"); (a) a new health care facility in St. Johns County, Florida, to be known as the "Durbin Park Hospital and Health Park Development," consisting of an acute care community hospital, and other related health care facilities, located on a new 42.5 acre health and wellness campus at the southwest corner of the intersection of Peyton Parkway and Flagler Health Way in St. Johns, Florida, with the initial address of 100 Flagler Health Way, St. Johns, FL 32259, including related facilities, fixtures, furnishings, and equipment, which will be financed with proceeds of the Bonds in an amount not to exceed $300,000,000; (b) a bed expansion project at UF Health Leesburg Hospital in Lake County, Florida, consisting of 48 new acute care beds located at 600 E. Dixie Avenue, Leesburg, FL 34748, including facilities, fixtures, furnishings, and equipment, which will be financed with proceeds of the Bonds in an amount not to exceed $70,000,000; (c) renovations to and equipment for various units within UF Health Shands Hospital’s north tower located at 1600 SW Archer Road, Gainesville, FL 32608, including renovations to and equipment for two pediatric units located on the fourth floor of the north tower, which will be financed with proceeds of the Bonds in an amount not to exceed $21,000,000; and (d) a new acute care patient tower, which will be located adjacent to UF Health Shands Hospital’s existing south tower hospital at 1515 SW Archer Road, Gainesville, FL 32608, including facilities, fixtures, furnishings and equipment, which will be financed with proceeds of the Bonds in an amount not to exceed $100,000,000. (ii) refunding all or a portion of certain indebtedness of the Borrower: (a) Alachua County Health Facilities Authority Health Facilities Revenue Bonds, Series 2007A (Shands Healthcare Project), currently outstanding in the principal amount of $40,395,000 (the "2007A Bonds"); (b) Alachua County Health Facilities Authority Health Facilities Revenue Bonds (Shands Healthcare Project), Series 2008A, currently outstanding in the principal amount of $49,990,000 (the "2008A Bonds"); (c) Alachua County Health Facilities Authority Series 2008C Health Facilities Revenue Bonds (Shands Healthcare Project), currently outstanding in the principal amount of $13,125,000 (the "2008C Bonds"); (d) Alachua County Health Facilities Authority Health Facilities Revenue Bonds, Series 2014A (Shands Teaching Hospital and Clinics, Inc. at the University of Florida Project), currently outstanding in the principal amount of $250,000,000 (the "2014A Bonds"); (e) Alachua County Health Facilities Authority Health Facilities Revenue Bonds, Series 2014B (Shands Teaching Hospital and Clinics, Inc. at the University of Florida Project), currently outstanding in the principal amount of $50,000,000 (the "2014B Bonds"); (f) Alachua County Health Facilities Authority Health Facilities Revenue Refunding Bonds, Series 2016A (Shands Teaching Hospital and Clinics, Inc. at the University of Florida Project), currently outstanding in the principal amount of $24,150,000 (the "2016A Bonds"); (g) City of Leesburg, Florida Hospital Revenue Refunding Bonds (Central Florida Health Alliance Projects), Series 2011, currently outstanding in the principal amount of $41,315,000 (the "2011 CFHA Bonds"); (h) Sumter County Industrial Development Authority Hospital Revenue Bonds (Central Florida Health Alliance Projects), Series 2014A, currently outstanding in the principal amount of $40,385,000 (the "2014A CFHA Bonds"); (i) Sumter County Industrial Development Authority Hospital Revenue Bonds (Central Florida Health Alliance Projects), Series 2014B, currently outstanding in the principal amount of $19,765,000 (the "2014B CFHA Bonds"); and (j) City of Leesburg, Florida Hospital Revenue Refunding Bonds (Central Florida Health Projects), Series 2017, currently outstanding in the principal amount of $23,020,000 (the "2017 CFHA Bonds"). (iii) funding a debt service reserve fund for the Bonds, if deemed necessary or desirable; (iv) funding capitalized interest for the Bonds, if deemed necessary or desirable; (v) funding swap termination payments, if deemed necessary or desirable; and (vi) paying certain costs of issuing the Bonds, including, but not limited to the cost of credit enhancement. The 2007A Bonds and 2007B Bonds were issued for the purposes of financing and refinancing the costs of certain capital improvements to the Borrower’s healthcare facilities located (i) on the Borrower’s primary medical center campus with a primary address of 1600 S.W. Archer Road, Gainesville, Florida and including adjacent and proximate facilities with primary addresses of 1505 and 1515 S.W. Archer Road, Gainesville, Florida (collectively, the "Primary Medical Campus"); (ii) on the campus of UF Health Shands Psychiatric Hospital and UF Health Shands Rehab Hospital located at 4101 N.W. 89th Boulevard, Gainesville, Florida (the "Psychiatric Hospital Campus"); (iii) on the campus of Shands AGH (now closed) located at 801 S.W. 2nd Avenue, Gainesville, Florida (the "Shands AGH Campus"); (iv) on the campus of the UF Health Florida Surgical Center located at 3480 Hull Road, Gainesville, Florida; (v) on the campus of Shands Starke Regional Medical Center located at 922 E. Call Street, Starke, Florida (the "Starke Campus"); and (vi) on the campus of Shands Live Oak Regional Medical Center located at 1100 11th Street S.W., Live Oak, Florida (the "Live Oak Campus"). The 2008A Bonds were issued for the purpose of financing the costs of certain capital improvements to the Borrower’s healthcare facilities located on the Primary Medical Campus. The 2008C Bonds were issued for the purposes of refinancing the costs of certain capital improvements to the Borrower’s healthcare facilities located (i) on the Primary Medical Campus, (ii) on the Psychiatric Hospital Campus, (iii) on the Shands AGH Campus, (iv) on the Starke Campus, and (v) on the Live Oak Campus. The 2014A Bonds and 2014B Bonds were issued for the purpose of financing the costs of certain capital improvements to the Borrower’s healthcare facilities located on the Primary Medical Campus. The 2016A Bonds were issued for the purpose of refinancing a portion of the 2007A Bonds. The 2011 CFHA Bonds were issued for the purpose of refinancing the cost of certain capital improvements to the Borrower’s healthcare facilities located (i) on the main campus of the Leesburg Regional Medical Center at 600 East Dixie Avenue, Leesburg, Florida (the "LRMC Campus"), and (ii) on the main campus of The Villages Regional Hospital located at 1451 El Camino Real, The Villages, Florida (the "TVRH Campus"). The 2014A CFHA Bonds were issued for the purpose of financing the costs of certain capital improvements to the Borrower’s healthcare facilities located on the TVRH Campus. The 2014B CFHA Bonds were issued for the purposes of financing and refinancing the costs of certain capital improvements to the Borrower’s healthcare facilities located on the LRMC Campus and the TVRH Campus. The 2017 CFHA Bonds were issued for the purpose of refinancing the costs of certain capital improvements to the Borrower’s healthcare facilities located on the LRMC Campus and the TVRH Campus. All facilities financed and refinanced with proceeds of the Bonds will be owned and operated by the Borrower, or an affiliate thereof or another entity chosen by the Borrower. The Bonds, when issued, will be special, limited obligations payable solely out of the revenues, income and receipts pledged to the payment thereof and derived from financing agreements with the Borrower, and none of the CTA, Alachua County, Florida, Lake County, Florida, Sumter County, Florida, St. Johns County, Florida, Suwannee County, Florida and Bradford County, Florida (collectively, the "Counties") or the State of Florida (the "State") will be obligated to pay the principal of, premium, if any, or interest on the Bonds except from the payments of the Borrower. The Bonds and the interest thereon shall never (i) pledge the taxing power of the Counties, the State or any other political subdivision, public agency or municipality thereof within the meaning of any constitutional or statutory provision, (ii) constitute the debt or indebtedness of the CTA, the Counties, the State or any other political subdivision, public agency or municipality thereof within the meaning of any constitutional or statutory provision, or (iii) pledge the full faith and credit of the CTA, the Counties, the State or any political subdivision, public agency or municipality thereof. CTA has no taxing power. Issuance of the Bonds is subject to several conditions including satisfactory documentation and receipt of necessary approvals for the financing. INTERESTED PERSONS ARE ENCOURAGED TO ATTEND BY TELEPHONE CONFERENCE USING THE INSTRUCTIONS BELOW. PRIOR TO SAID TELEPHONIC PUBLIC HEARING, WRITTEN COMMENTS MAY BE DELIVERED TO THE CTA AT 315 FAIRPOINT DRIVE, GULF BREEZE, FLORIDA 32561, ATTENTION EXECUTIVE DIRECTOR. TELEPHONE CONFERENCE INSTRUCTIONS: TOLL FREE DIAL IN NUMBER: 1 (888) 667-1808 At the date and time fixed for said telephonic public hearing all who appear by telephone conference will be given an opportunity to express their views for or against the Project, the plan of finance and the proposed approval of the issuance of the Bonds. Comments made at the public hearing are for the consideration of the parties providing an approval of the issuance of the Bonds and the plan of finance but will not bind the CTA or such parties as to any action the CTA or such parties may take. All persons are advised that, if they decide to appeal any decision made with respect to the proposed approval of the issuance of the Bonds, they will need a record of the proceedings, and for such purpose, they may need to ensure that a verbatim record of the proceedings is made, which record includes the testimony and evidence upon which the appeal is to be based. All interested persons are invited to present their comments on the date and time set forth above. IN ACCORDANCE WITH THE AMERICANS WITH DISABILITIES ACT OF 1990, AS AMENDED, ALL PERSONS WHO ARE DISABLED AND WHO NEED SPECIAL ACCOMMODATIONS TO PARTICIPATE IN THIS TELEPHONIC PUBLIC HEARING BECAUSE OF THAT DISABILITY SHOULD CONTACT THE HEARING OFFICER AT (850) 934-4046 AT LEAST 48 HOURS IN ADVANCE OF THE PUBLIC HEARING, EXCLUDING SATURDAY AND SUNDAY.


	A copy of the agenda may be obtained by contacting: Contact the Hearing Officer at (850)934-4046.

PRINT PUBLISH DATE:	6/12/2025 Vol. 51/114


REFERENCE MATERIALS:	No reference(s).

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Overview