Notice is hereby given that on August 3, 2015, a public hearing will be held at 12:00 noon in the Council Chambers of the City of Show Low, Arizona, 180 North 9th Street, Show Low, Arizona, by a representative of The Industrial Development Authority of the City of Show Low, Arizona (the "Authority"), concerning the proposed issuance by the Authority of its Revenue Refunding Bonds (Summit Healthcare Association Project), Series 2015 (the "Bonds"), in the maximum aggregate principal amount not to exceed $25,000,000. The Bonds will be issued to assist Summit Healthcare Association (“Summit”) in refinancing a loan to Navapache Health Care Association, Inc., doing business as Navapache Regional Medical Center, an Arizona nonprofit corporation and predecessor to Summit (the "Hospital Association"), used for (i) paying costs of constructing the first three stories of a five-story patient tower adjacent to the existing hospital (the "Medical Center Facilities” and the "Project"), (ii) funding a debt service reserve fund for the Bonds and interest during construction, and (iii) paying costs relating to the issuance of the Bonds. The Medical Center Facilities are located at 2200 Show Low Lake Road, Show Low, Arizona. The operator of the Project will be the Summit Healthcare Association.
The Bonds are not general obligations of the Authority, the City of Show Low, Arizona, the State of Arizona, or any political subdivision thereof. Neither the credit nor taxing power, if any, of the Authority, the City of Show Low, Arizona, the State of Arizona, or any political subdivision thereof will be pledged for the payment of principal and premium, if any, and interest on the Bonds. The Authority has no taxing power.
Any person may appear at such hearing and express his or her views, or may submit his or her views in writing, regarding the proposed issuance of Bonds and the location and nature of the Project to be refinanced. Any submissions should be sent to cafisom@gtlaw.com and clearly marked "re Revenue Refunding Bonds (Summit Healthcare Association Project), Series 2015."
Dated the 29th day of July, 2015.
THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF SHOW LOW, ARIZONA