Interoffice Memorandum
DATE: December 13, 2024
TO: Mayor Jerry L. Demings and County Commissioners
THROUGH: N/A
FROM: Dale A. Burket, Attorney for Orange County Health Facilities Authority
CONTACT: Dale A. Burket (Lowndes Drosdick Doster Kantor & Reed)
PHONE: 407-418-6426
DIVISION: N/A
ACTION REQUESTED:
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Approval and execution of a Resolution 2025-B-02 of the Board of County Commissioners of Orange County, Florida approving the issuance by the Orange County Health Facilities Authority of its Hospital Revenue Bonds (Orlando Health Obligated Group), in one or more series over the longest period permitted by and in an aggregate principal amount not to exceed $1,500,000,000 and the loan of the proceeds thereof to Orlando Health, lnc., a Florida not-for-profit corporation. (Health Facilities Authority)
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PROJECT: N/A
PURPOSE: The Orange County Health Facilities Authority (the "Authority") respectfully requests that the Orange County Board of County Commissioners (the "Board") approve a resolution regarding the issuance of tax-exempt revenue bonds for the benefit of Orlando Health Central, lnc., South Lake Hospital, lnc., OsceolaSC, LLC, OHI West, lnc. OHRH, LLC, OHMH, LLC, and OHSRH, LLC, solely for the purpose of compliance with Section 147 of the lnternal Revenue Code and other applicable provisions of law. The proceeds of the Bonds, if and when issued, will be used to (a) finance, refinance or reimburse the costs of acquiring, constructing, improving or renovating the hospital and health care facilities (including related land improvement costs and working capital expenditures), and the costs of acquiring and installing equipment (including, but not limited to, medical equipment, computer equipment, office equipment and general building equipment and fixtures) to be used at the hospital and health care facilities located in Florida and Alabama and (b)to pay certain costs of issuance of the Bonds.
BUDGET: N/A