NOTICE OF PUBLIC HEARING 8/21/2023 – (TEFRA Hearing)
NOTICE OF PUBLIC HEARING
August 21, 2023
2:00p.m. Alaska time
City Hall, Conference Room 224
155 South Seward Street
Juneau, Alaska 99801
NOTICE IS HEREBY GIVEN that a public hearing will be held by the City and Borough of Juneau, Alaska (“CBJ”), on August 21, 2023, at 2:00 p.m. (or as soon thereafter as practicable) in Conference Room 224 at City Hall, located at 155 South Seward Street, Juneau, Alaska 99801, regarding the proposed issuance by the Public Finance Authority (the “Issuer”) of the Issuer’s qualified 501(c)(3) bonds, as defined in Section 145 of the Internal Revenue Code of 1986 (the “Code”), for one or more health care facilities, in one or more series, in a par amount not to exceed $250,000,000 (the “Bonds”).
The proceeds from the sale of the Bonds, together with the proceeds of certain taxable bonds to be issued by the Issuer, will be used by the Issuer to make a loan to Aurora Integrated Oncology Foundation, a Delaware not-for-profit corporation and an organization described in Section 501(c)(3) of the Code (the “Borrower”), to (a) either via the acquisition of the membership interests in the entities that own such assets or through the acquisition of such assets directly, finance the acquisition of (i) various existing radiation oncology centers located in the State of Alaska including, without limitation, the real estate and equipment related to such centers, including a radiation oncology facility located in Juneau (the “Juneau Treatment Facility”) and a medical office building and a patient house located in Juneau (the “Juneau MOB and Patient House”), and (ii) a professional physician practice providing physicians to provide services in such existing radiation oncology centers, (b) fund one or more debt service reserve funds; and (c) pay costs incurred in connection with the issuance of the Bonds. On the date of issuance of the Bonds, the Juneau Treatment Facility will be owned by RBS Evolution of Juneau, LLC, the sole member of which will be the Borrower, and will be located at 1701 Salmon Creek Lane, Juneau, Alaska and expected to be acquired for a par amount of not more than $45,000,000, and the Juneau MOB and Patient House will be owned by the Borrower, and will be located at 1701 Salmon Creek Lane and 10736 Mendenhall Loop Road, Juneau, Alaska, respectively, and expected to be acquired for a par amount of not more than $6,500,000 (together with the amount for the Juneau Treatment Facility, the “Juneau Portion”). The other facilities located outside of Juneau will each be subject to a separate public hearing in the jurisdiction in which the respective facility is located.
Under no circumstances will CBJ be in any way obligated to repay any portion of the Bonds. The Bonds will be special limited obligations of the Issuer, payable solely from sources provided for by the Borrower in connection with the issuance of the Bonds. The Bonds and interest thereon will not constitute an indebtedness or a pledge of the faith and credit of CBJ, the State of Alaska or any political subdivision thereof.
Section 147(f) of the Code requires that qualified 501(c)(3) bonds, such as the Bonds, must be approved by the applicable elected representatives of the governmental unit having jurisdiction over the area in which the assets being financed by the Bonds are located. The Assembly, as the applicable elected representatives of CBJ, will consider a Resolution supporting or approving of the issuance of the Juneau Portion of the Bonds by the Issuer to finance the Project.
The purpose of the public hearing is to provide a reasonable opportunity for members of the public to express their views, orally or in writing, regarding the issuance of the Bonds and the uses and purposes of the proceeds of the Bonds. The hearing will be conducted in a manner that provides a reasonable opportunity for persons with differing views to be heard on the question of the issuance of the Bonds. Written comments may be delivered at the public hearing or mailed to CBJ at the address indicated above.
This notice is published pursuant to the public approval requirements of Section 147(f) of the Code.
Published online August 7, 2023
To be published in the Juneau Empire August 12, 2023
Municipal Clerk Elizabeth J. McEwen