WHEELING MUNICIPAL BUILDING
COMMISSION
NOTICE OF PUBLIC HEARING REGARDING BOND AUTHORIZING ORDINANCE (WVUHS REGIONAL CANCER CENTER PROJECT)
A public hearing will be held on the following-entitled Ordinance at a special meeting of the Wheeling Municipal Building Commission, a public corporation and municipal building commission of the State of West Virginia (the “Building Commission”) to be held on Friday, August 25, 2023, at 12:00 p.m. in the City Council Chambers located at 1500 Chapline Street, Wheeling, West Virginia, and at such hearing any person interested may appear before the Building Commission and present protests, comments and suggestions, and all protests, comments and suggestions shall be heard by the Building Commission and it shall then take such action as it shall deem proper in the premises upon a Bond Authorizing Ordinance entitled:
AN ORDINANCE OF THE WHEELING MUNICIPAL BUILDING COMMISSION (THE “ISSUER”) AUTHORIZING THE ACQUISITION BY THE ISSUER FROM THE CITY OF WHEELING (THE “CITY”) OF CERTAIN REAL PROPERTY OWNED BY THE CITY THAT WAS THE SITE OF THE FORMER HOSPITAL KNOWN AS “OHIO VALLEY MEDICAL CENTER” (THE “PROPERTY”) FOR THE PURPOSE OF FACILITATING THE REDEVELOPMENT OF THE PROPERTY; AUTHORIZING THE DEMOLITION OF THE EXISTING STRUCTURES ON THE PROPERTY, INCLUDING ANY ASBESTOS ABATEMENT WORK REQUIRED AS PART OF THE DEMOLITION, AND PREPARATION OF THE PROPERTY FOR THE FUTURE CONSTRUCTION BY WEST VIRGINIA UNITED HEALTH SYSTEM, INC. D/B/A WEST VIRGINIA UNIVERSITY HEALTH SYSTEM (“WVUHS”) OF A COMPREHENSIVE CANCER CENTER (COLLECTIVELY, THE “PROJECT”); THE ISSUANCE OF THE WHEELING MUNICIPAL BUILDING COMMISSION LEASE REVENUE BONDS, SERIES 2023 A (WVUHS REGIONAL CANCER CENTER PROJECT), IN ONE OR MORE SERIES, IN THE AGGREGATE PRINCIPAL AMOUNT OF NOT MORE THAN $20,000,000 (THE “SERIES 2023 A BONDS”) TO PAY COSTS OF THE PROJECT, COSTS OF ISSUANCE OF THE SERIES 2023 A BONDS AND RELATED COSTS; THE LEASING BY THE ISSUER TO OHIO VALLEY ADC, INC. OF THE GROUND PORTION ONLY OF THE PROPERTY; AUTHORIZING THE EXECUTION AND DELIVERY OF A BOND INDENTURE AND SECURITY AGREEMENT, A GROUND LEASE, AND A BOND PURCHASE AGREEMENT; AUTHORIZING AND DIRECTING THE EXECUTION AND DELIVERY OF SUCH BONDS; PROVIDING PARAMETERS FOR THE TERMS OF THE SERIES 2023 A BONDS; AUTHORIZING EXECUTION AND DELIVERY OF OTHER DOCUMENTS, INSTRUMENTS, CERTIFICATES AND AGREEMENTS AND THE TAKING OF ALL OTHER ACTIONS RELATING TO SUCH FINANCING; PROVIDING FOR CERTAIN OTHER MATTERS IN CONNECTION THEREWITH; AND PROVIDING WHEN THIS ORDINANCE SHALL TAKE EFFECT.
The above-entitled Ordinance was adopted on second reading by the Building Commission on July 21, 2023.
The above-quoted title of the Ordinance describes generally the contents thereof and the purposes of the Bond issue contemplated thereby. The Building Commission contemplates the issuance of its Lease Revenue Bonds as described in the Ordinance. The proceeds of the Bonds will be used by West Virginia United Health System, Inc. d/b/a West Virginia University Health System (“WVUHS”) for the demolition of the existing structures on the site of the former hospital known as “Ohio Valley Medical Center” (the “Property”) to facilitate the construction by WVUHS of a comprehensive cancer center on such site (the “Project”). The ground portion only of the Property, together with all necessary appurtenances and related facilities (the “Leased Property”) will be leased by the Building Commission to Ohio Valley ADC, Inc. (“ADC”) in connection with the issuance of the Bonds. The Bonds will be payable solely from lease revenues to be derived from the leasing of the Leased Property by the Building Commission to ADC and the subleasing of the Leased Property by ADC to WVUHS. No taxes may at any time be levied for the payment of the Bonds or the interest thereon.
A certified copy of the above-entitled Ordinance is on file at the office of the Building Commission in the offices of The City of Wheeling, at the office of the Clerk of The City of Wheeling, West Virginia, 1500 Chapline Street, Wheeling, West Virginia, for review by interested parties during regular office hours.
Following the public hearing, the Building Commission intends to enact said Ordinance upon final reading if such action appears to be appropriate after taking into consideration the protests, comments and suggestions made at the public hearing.
Dated: August 14, 2023
Secretary,
Wheeling Municipal Building Commission
Int. Aug 14, 21, 2023