NOTICE OF PUBLIC HEARING
MONTGOMERY COUNTY
INDUSTRIAL DEVELOPMENT AUTHORITY
The Montgomery County Industrial Development Authority (the "Authority") will hold a hearing on a plan of financing and the proposed issuance of one or more series of revenue bonds (the "Bonds") on May 1, 2015 at 9:00 am at the Montgomery County Health and Human Services Center, 1430 DeKalb Street, 5th Floor, Norristown, PA 19401, in connection with a plan of financing and a Project described below. The purpose of this meeting is to invite the public to comment in support of or in opposition to the Project.
Borrower: Albert Einstein Healthcare Network ("AEHN" or "Einstein Health Network"). AEHN is a Pennsylvania nonprofit corporation and an organization described in Section 501(c)(3) of the Internal Revenue Code that operates hospitals and a health system located in Philadelphia and Montgomery Counties in southeastern Pennsylvania through various controlled affiliates described below under "Location of Projects."
Principal Amount of Bonds: An amount not to exceed $526,000,000.
Project Description: (a) the advance refunding of (i) the Pennsylvania Economic Development Financing Authority's Health System Revenue Bonds, Albert Einstein Healthcare Network Issue, Series 2009A, the proceeds of which were used to refinance taxable debt, the proceeds of which were used to finance and refinance the acquisition, renovation and construction of certain health care facilities, capital equipment and related health care facilities listed below under "Location of the Projects" and (ii) the Authority's FHA Insured Mortgage Revenue Bonds (New Regional Medical Center Project) (the "2010 Bonds"), the proceeds of which were used to construct Einstein Medical Center Montgomery, (b) the refinancing of taxable debt incurred to pay a portion of the capitalized costs associated with the construction of the Einstein Medical Center Montgomery financed with the proceeds of the 2010 Bonds, (c) the payment of (or reimbursement to AEHN for) costs of building renovations, equipment or other miscellaneous capital expenditures for various controlled affiliates of AEHN, including expansions, renovations and upgrades to Albert Einstein Medical Center, Philadelphia and Elkins Park campuses, and Einstein Crisis Response Center, and the acquisition and upgrade of information systems, (d) the funding of a deposit to a debt service reserve fund, if necessary, and (e) the payment of costs of issuance of the Bonds.
Location of the Projects:
Montgomery County, Pennsylvania:
Einstein Medical Center Montgomery, 559 West Germantown Pike, East Norriton Township
Albert Einstein Medical Center, Elkins Park, 60 Township Line Road, Cheltenham Township, Elkins Park
MossRehab, 60 Township Line Road, Cheltenham Township, Elkins Park
City of Philadelphia, Pennsylvania locations:
Albert Einstein Medical Center, 5501 Old York Road
Belmont Center for Comprehensive Treatment, 4200 Monument Road and 10360 Drummond Road
Einstein Crisis Response Center, One Penn Boulevard to East Wister Street
Einstein Plaza, 101 East Olney Avenue
Einstein Center One, 9880 Bustleton Avenue
1221 Somerville Avenue (hospitality house)
MossRehab, 1200 West Tabor Road
7201 Rising Sun Avenue (multi-specialty physician practice site)
7612 Dungan Road (brain injury training facility)
1225, 1227, 1229, 1231, 1233 and 1235 Somerville Avenue
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 therefor. This notice is published in accordance with, and the public hearing is held by and on behalf of the Authority as the issuer of the Bonds and the Counties of Montgomery and Philadelphia, as required by the Internal Revenue Code of 1986, as amended, and regulations promulgated thereunder. If any accommodation is required in order to participate in the hearing, please contact Catherine Lawrence at 610-278-3471.
Ref# 0003210392-01
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