You are viewing this page over a secure connection. Click here for more information.
Online Data Services Help

Administrative Law

Meeting Notice Detail

Back to Meeting Notices

West Virginia Hospital Finance Authority
West Virginia Hospital Finance Authority
Date/Time: 3/7/2025 -- 10:00 AM
Location:
Law offices of Bowles Rice LLP
Conference Room 4QV
600 Quarrier Street
Charleston, WV 25301

By teleconference 1-888-475-4499
Meeting ID: 897 6422 2366
Password:  000679
Purpose: NOTICE OF PUBLIC HEARING

Notice is hereby given pursuant to Section 147(f) of the Internal Revenue Code of 1986, as amended (the Code) that on Friday, March 7, 2025, a public hearing will be held in Conference Room 4QV at the law offices of Bowles Rice LLP, 600 Quarrier Street, Charleston, WV 25301, and by teleconference, Toll Free dial in number: 1-888-475-4499, Meeting ID: 897 6422 2366, Password: 000679, commencing at 10:00 a.m., local time, to supplement that certain approval pursuant to Treasury Regulations §1.147(f)-1 by the Governor of the State of West Virginia as the applicable elected official, on April 25, 2023 (the Original TEFRA Approval), pertaining to the proposed issuance by the West Virginia Hospital Finance Authority (the Issuer) of its Hospital Revenue Improvement Bonds (West Virginia University Health System Obligated Group) 2023 Series, in one or more series, and in an original aggregate principal amount not to exceed $300,000,000 (the Bonds).

The Original TEFRA Approval stated that the proceeds of the Bonds were to be loaned to the West Virginia United Health System, Inc. d/b/a West Virginia University Health System, a West Virginia nonprofit corporation (WVUHS), as obligated group agent (the Obligated Group Agent) on behalf of the West Virginia University Health System Obligated Group, and used for the benefit of certain hospital members of the West Virginia University Health System Obligated Group, particularly certain improvements (a) on behalf of West Virginia University Hospitals, Inc. at J.W. Ruby Memorial Hospital (Ruby), located at 1 Medical Center Drive, Morgantown, West Virginia, and at Fairmont Medical Center (Fairmont Medical), located at 1325 Locust Avenue, Fairmont, West Virginia (the Fairmont Medical Project), and (b) on behalf of Community Health Association d/b/a Jackson General Hospital.

Due to circumstances unforeseen at the time of the Original TEFRA Approval, the Obligated Group Agent and WVUH desire to deviate from certain uses of the proceeds of the Bonds that were included in the Original TEFRA Approval. These deviations to the use of the proceeds of the Bonds are as follows: (a) in addition to the projects at Ruby described in the Original TEFRA Approval, WVUH shall also finance a portion of the costs of the acquisition, development, construction, relocation, installation and equipping of real and personal property for an eye center clinic and outpatient surgery center to include, without limitation, operating rooms, exam rooms, physician office space, research space and related parking facilities to be located on or adjacent to the hospital campus located at 1 Medical Center Drive, Morgantown, West Virginia (the Eye Institute Project), and the proceeds of the Bonds be used to finance the Eye Institute Project, together with the project at Ruby included in the Original TEFRA Approval, shall not exceed the previously approved principal amount of $175,000,000, and (b) the principal amount of the Bonds used to finance the construction, renovation, expansion and equipping of improvements at Fairmont Medical shall be increased from a principal amount not to exceed $70,000,000 to a principal amount not to exceed $85,000,000.

The Bonds are special obligations of the Issuer and pursuant to Chapter 16, Article 29A of the Code of West Virginia, 1931, as amended, do not constitute a debt or a pledge of the faith and credit of the Issuer or a pledge of the faith and credit or taxing power of the State or any political subdivision thereof. Persons wishing to express their views on the proposed change of use of the proceeds of the Bonds may appear at the hearing or may submit their views in writing regarding the proposed change of use of the proceeds of the Bonds. Any written submissions should be sent to the West Virginia Hospital Finance Authority, Box 2B, Albert T. Summers Building, 1124 Smith Street, Charleston, WV 25301, Attention: Chairman, and clearly marked Re: West Virginia Hospital Finance Authoritys Hospital Revenue Improvement Bonds (West Virginia University Health System Obligated Group), 2023 Series. Written submissions should be mailed in sufficient time to be received before March 7, 2025.

The State of West Virginia acting by and through the West Virginia Hospital Finance Authority, James R. Christie, Chairman.

Notes:
Meeting was accepted : 2/27/2025 2:51:33 PM

Back to Meeting Notices

Saturday, March 29, 2025 — 10:53 PM