PUBLIC HEARING NOTICE
The Pennsylvania Higher Educational Facilities Authority (the "Authority") will hold a public hearing on May 19, 2014 at 8:30 a.m., prevailing time, at the offices of the Authority located at 1035 Mumma Road, Wormleysburg, PA 17043 in connection with a plan of finance for the proposed issuance of up to $100,000,000 tax-exempt revenue bonds (the "Bonds"), in one or more series on one or more dates.
A. Initial Owner: The University of Pennsylvania Health System (the "System"), which consists of The Trustees of the University of Pennsylvania, a Pennsylvania nonprofit corporation (the "University"), and Presbyterian Medical Center of the University of Pennsylvania Health System d/b/a Penn Presbyterian Medical Center, a Pennsylvania nonprofit corporation ("PPMC"), Clinical Care Associates of the University of Pennsylvania Health System, a Pennsylvania nonprofit corporation ("Clinical Care Associates"), Wissahickon Hospice, a Pennsylvania nonprofit corporation ("Wissahickon Hospice"), Pennsylvania Hospital of the University of Pennsylvania Health System, a Pennsylvania nonprofit corporation ("Pennsylvania Hospital") and The Chester County Hospital and Health System, a Pennsylvania nonprofit corporation ("TCCHHS"), all of which are wholly-controlled affiliates of the University.
B. Maximum Amount of Issue: $100,000,000.
C. Purpose of Financing and Nature of the Financed Facilities: The proceeds of the Bonds will be used for a project (the "Project") consisting of: (a) the financing of a portion of the projects in the System's capital budget, which may include construction of a patient care tower at TCCHHS, ambulatory (outpatient) expansions and facility enhancements at PPMC, Pennsylvania Hospital, and the Hospital of the University of Pennsylvania ("HUP"), including extension of the Perelman Center for Advanced Medicine South Pavilion and additional parking on the HUP campus, as well as additional capital budget expenditures; (b) the payment of capitalized interest on the Bonds; and (c) the payment of certain costs of issuance in respect of the Bonds.
D. Location of Facilities: The facilities being financed by the Bonds are located (i) on the University's campus bounded by Spruce Street and South Street on the North, Health Sciences Drive and Convention Avenue on the South and East, and University Avenue on the West, in the City of Philadelphia, Pennsylvania (ii) on the TCCHHS campus bounded by Goshen Road on the North, E. Marshall Street to the East and South and Marshall Drive to the West, in West Goshen Township, Pennsylvania and the Borough of West Chester, Pennsylvania; (iii) on the PPMC campus bounded by Baring Street on the North, Market Street on the South, 38th Street on the East and 40th Street on the West, in the City of Philadelphia; (iv) on the Pennsylvania Hospital campus bounded by 9th Street on the West, 7th Street on the East, Locust Street on the North and Pine Street on the South, in the City of Philadelphia, Pennsylvania; (v) on the Penn Medicine Washington Square campus bounded by Walnut Street on the North, 8th Street on the East, Locust Street on the South and 9th Street on the West, in the City of Philadelphia, Pennsylvania; and (vi) on the Penn Medicine University City campus bounded by Market Street on the South, 36th Street to the East, 38th Street to the West and Filbert Street to the North, in the City of Philadelphia, Pennsylvania.
At the public hearing, any and all persons in attendance will be afforded an opportunity to comment on the proposed Project and the issuance by the Authority of its Bonds. If you need an accommodation due to disability and want to attend the meeting, please call 717-975-2204 at least 24 hours in advance so arrangements can be made.
This notice is published and the public hearing is being held by and on behalf of the Authority as the issuer of the Bonds in accordance with the requirements of Section 147(f) of the Internal Revenue Code of 1986, as amended, and the regulations promulgated thereunder.
Interested persons can also submit written comments on the plan of financing at least twenty-four hours before the hearing to the Pennsylvania Higher Educational Facilities Authority, 1035 Mumma Road, Wormleysburg, PA 17043, Attention: Executive Director.
PENNSYLVANIA HIGHER EDUCATIONAL
FACILITIES AUTHORITY
Ref# 0003146070-01
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