Details for Legal Notice

Updated

NOTICE OF PUBLIC HEARING BY THE ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF LYNCHBURG, VIRGINIA, REGARDING PROPOSED REVENUE BOND FINANCING Notice is hereby given that the Economic Development Authority of the City of Lynchburg, Virginia (the "Authority") will hold a public hearing on the application of Centra Health, Inc. ("Centra"), a Virginia nonstock corporation, for the Authority to issue, pursuant to the Virginia Industrial Development and Revenue Bond Act, as amended (the "Act"), revenue bonds in an aggregate principal amount not to exceed $200,000,000 (the "Bonds"), in one or more series, at one or more times, and pursuant to a common plan of finance, for the purpose of providing funds to make one or more loans to Centra, the proceeds of which, together with other available funds, will be used to (a) finance (i) the acquisition, construction, developing and equipping of a new, up to six-story structure at Lynchburg General Hospital ("Lynchburg General") to improve and expand patient capacity, which also includes connectivity and bridge improvements to link the new structure with the existing facilities of Lynchburg General, (ii) the construction of a surface parking lot (the "Lynchburg General Surface Parking Project") and/or up to six-story parking deck (the "Lynchburg General Parking Deck Project") for Lynchburg General and related connectivity improvements, (iii) the acquisition, construction, developing and equipping of expansion of and improvement to the existing facilities and structures on the Lynchburg General Campus, (iv) sitework and other improvements on the Lynchburg General Campus related to the foregoing, and (v) construction of routine capital improvements at Lynchburg General and related facilities and (b) pay certain expenses incurred in connection with the issuance of the Bonds (collectively, the "2020 Project"). The Bonds are expected to be issued as qualified 501(c)(3) bonds as defined in Section 145 of the Internal Revenue Code of 1986, as amended. The 2020 Project will be located on or at the Lynchburg General Campus, which is located at 1901 Tate Springs Drive, and is defined to include the buildings and facilities related to Lynchburg General and situated in close proximity to Lynchburg General, which are located on or near Tate Springs Drive or Thomson Drive, with the Lynchburg General Parking Deck Project and Lynchburg General Surface Parking Project expected to be located across Tate Springs Road or Hillsdale Road from the existing Lynchburg General Campus. Centra will own and operate all components of the 2020 Project. As required by the Act, the Bonds will not constitute a debt or pledge of the faith and credit of the Commonwealth of Virginia, or the City of Lynchburg, Virginia. Neither the Commonwealth of Virginia nor any political subdivision thereof, including the Authority, or the City of Lynchburg, Virginia, will be obligated to pay the Bonds, or the interest thereon, or other costs incidental thereto, except from the revenues and monies pledged therefor. Neither the faith and credit nor the taxing power of the Commonwealth of Virginia nor any political subdivision thereof will be pledged to the payment of principal of the Bonds or the interest thereon or other costs incidental thereto. The public hearing will be held by the Authority as part of the approval process with respect to the issuance of the Bonds. If, following the hearing, the Authority recommends approval of the issuance of the Bonds, a record of the public hearing will be forwarded to the City Council of the City of Lynchburg, which will be asked to approve the issuance of the Bonds. The public hearing, which may be continued or adjourned, will be held at 8:30 A.M. on Thursday, July 16, 2020, before the Authority in the City Council Chambers, 1st Floor, 900 Church Street, Lynchburg, Virginia, 24504. Residents of the City of Lynchburg, as well as any other persons interested in the Bonds or the projects to be financed by the Bonds, may attend and present their views or submit written comments prior to the hearing to the Secretary of the Economic Development Authority of the City of Lynchburg Virginia, 900 Church Street, Lynchburg, Virginia 24504. A copy of Centra's application may be inspected at the Authority's offices. The address of the Economic Development Authority of the City of Lynchburg, Virginia is Economic Development Office, City Hall, 2nd Floor, 900 Church Street, Lynchburg, Virginia 24504. ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF LYNCHBURG, VIRGINIA By: William T. Lovern, Secretary-Treasurer

1901 Tate Springs Drive, Lynchburg, VA

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