NOTICE OF PUBLIC HEARING
NOTICE OF PUBLIC HEARING TO BE HELD BY THE RHODE ISLAND HEALTH AND EDUCATIONAL BUILDING CORPORATION CONCERNING THE FINANCING OF a PROJECT FOR HOPEHEALTH HOSPICE & PALLIATIVE CARE IN PROVIDENCE, RHODE ISLAND. Notice is hereby given that the Rhode Island Health and Educational Building Corporation (the “Corporation”) will hold a public hearing on September 26, 2019 at 4:30 p.m. at 55 Dorrance Street, Suite 300, Providence, Rhode Island. If the Corporation’s offices are closed on September 26, 2019 due to unforeseen circumstances, including adverse weather conditions, the public hearing will be held on the next business day on which the Corporation’s offices are open at the same time and location. The purpose of the hearing will be to consider the issuance of qualified 501(c)(3) bonds, as defined in Section 145 of the Internal Revenue Code of 1986, as amended (the “Code”), by the Corporation in a maximum aggregate principal amount not to exceed $11,000,000 (the “Bonds”) for a project to be owned and operated by HopeHealth Hospice & Palliative Care (the “Institution”), a Rhode Island non-profit corporation. The proceeds of the Bonds will be used as part of a plan of financing to: (a) refinance the Corporation’s Health Facilities Revenue Bonds (Home & Hospice Care of Rhode Island Issue – Series 2008) (the “2008 Bonds”), the proceeds of which were used to finance and refinance the acquisition, construction, renovation, improvement, furnishing and equipping of a 50,000 square foot, four-story facility located at 1085 North Main Street, Providence, Rhode Island, housing the Institution’s administrative offices, home hospice employee management center and 24-bed inpatient hospice facility (the “Hulitar Hospice Center”) and the costs of issuance of the 2008 Bonds, (b) finance and refinance the renovation, improvement, furnishing and equipping of a portion of the Hulitar Hospice Center to add six additional inpatient beds, (c) finance various other capital renovations and improvements to the Institution’s facilities, other deferred maintenance items, and the acquisition and installation of furnishings and equipment, all as included from time to time in the Institution’s capital budget and located or to be located at the Hulitar Hospice Center or adjacent or proximate sites, (d) finance capitalized interest and/or a debt service reserve fund, if necessary, and (e) finance costs of issuance of the Bonds. The owner and/or operator of the facilities to be financed or refinanced with the proceeds of the Bonds will be the Institution. Neither the State of Rhode Island and Providence Plantations nor the Corporation is obligated to pay the principal or redemption price of or interest on the Bonds and neither the faith and credit nor the taxing power of the State of Rhode Island and Providence Plantations or any municipality or political subdivision thereof is pledged to the payment of the Bonds. The Corporation does not have taxing power. Interested persons are invited to offer comments and ask questions with regard to the issuance of the above-referenced Bonds and the location and nature of the facilities to be financed and refinanced therewith. The Corporation is accessible to the handicapped. Those requesting interpreter services for the hearing impaired must notify the Corporation (401-831-3770) at least 48 hours in advance of the hearing.
Kimberly W. Mooers,
Executive Director and Hearing Officer
Rhode Island Health and Educational Building Corporation
55 Dorrance Street, Suite 300
Providence, RI 02903