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To express the concurrence of the Council with the inducement resolution adopted by the Economic Development Authority of Henrico County and to approve the issuance of revenue bonds in an amount not to exceed $15,000,000 for the benefit of Bon Secours Mercy Health, Inc. and Richmond Community Hospital.
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WHEREAS, Bon Secours Mercy Health, Inc. is a Maryland nonstock nonprofit membership corporation, and which has facilities located in the City of Richmond including Richmond Community Hospital located at 1500 North 28th Street; and
WHEREAS, on January 16, 2025, the Economic Development Authority of Henrico County adopted an inducement resolution (the "Inducement Resolution"), a copy of which is attached to this resolution and entitled Attachment A, relating to the issuance of its Health Facilities Revenue Bonds (Bon Secours Mercy Health, Inc.) (the "Bonds") in one or more series to, among other things, (i) finance or refinance the costs of certain capital expenditures, including the acquisition, construction, equipping, expansion, enlargement and improvement of certain hospital facilities, including reimbursement, (ii) pay a portion of the interest on the Bonds, if deemed necessary, (iii) establish one or more debt service reserve funds, if deemed necessary, and (iv) pay certain expenses incurred in connection with the issuance of the Bonds (collectively, the "Financing Purposes"), all pursuant to a master financing plan for certain health care facilities affiliated with Bon Secours Mercy Health, Inc., which plan includes the above-described financing by the Economic Development Authority of Henrico County for the benefit of Bon Secours Mercy Health, Inc. and its nonprofit affiliates, including Richmond Community Hospital; and
WHEREAS, the portion of the Bonds to be issued for the benefit of the Richmond Community Hospital facilities shall not exceed $15,000,000; and
WHEREAS, the Bonds will be issued pursuant to the Virginia Indus...
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