NOTICE IS HEREBY GIVEN to all interested persons that the West Virginia Hospital Finance Authority (the “Authority”) is considering the issuance by the Authority of a series of its revenue refunding bonds (the “Series 2015 Bonds”), in an aggregate principal amount not exceeding $5,800,000, for the purpose of making a loan to Hampshire Memorial Hospital, Inc., a nonprofit corporation organized and existing under the laws of the State of West Virginia (“Hampshire Memorial”). Proceeds of the Series 2015 Bonds will be used (i) to refund all of the Authority’s outstanding Hospital Revenue Bonds (Valley Health System Obligated Group), Series 2009 (the “Series 2009 Bonds”), maturing on January 1, 2044 and bearing interest at the rate of 5.750{4ceb532c6f579389df471c6c1e832caf2346b74dc60fcbf6aabd4d29df3baf9c} per annum, and (ii) to pay certain expenses incurred in connection with the authorization, issuance and sale of the Series 2015 Bonds.
The Series 2009 Bonds were issued on December 17, 2009 in the original aggregate principal amount of $25,000,000 for the purpose of providing funds, together with other available funds, (i) to pay, or reimburse Hampshire Memorial for paying, the cost of (A) the construction and equipping of a new hospital facility in Romney, West Virginia (the “Replacement Hospital”), to replace Hampshire Memorial’s then current hospital facility, and (B) the acquisition of a 50-acre parcel of land for the Replacement Hospital (the “Replacement Hospital Campus”) (collectively, the “2009 Project”); and (ii) to pay certain expenses incurred in connection with the authorization, issuance and sale of the Series 2009 Bonds.
The Replacement Hospital consists of approximately 65,000 square feet of space on two floors above ground and one floor below ground, including areas for, among other things, outpatient services, emergency services, and inpatient services, and houses 14 acute care beds and 30 long-term care beds. The address of the Replacement Hospital Campus and the Replacement Hospital is 363 Sunrise Boulevard, Romney, West Virginia 26757.
The 2009 Project is owned and operated by Hampshire Memorial, whose sole corporate member is Valley Health System, a Virginia nonstock corporation, whose offices are located in Winchester, Virginia.
All references in the foregoing to acreage, footage, beds, units and similar quantitative measurements are approximations.
Please take notice that the Administrative Assistant of the Authority will hold a public hearing on June 4, 2015 in the West Virginia State Treasurer’s Office, 2nd Floor Conference Room, 322 70th Street, Charleston, West Virginia 25304, commencing at 1:00 p.m., local time, at which time any person may be heard regarding the issuance of the Series 2015 Bonds.
5-20-1c
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