Public Hearing TEFRA Notices
For certain types of tax-exempt private activity bonds, a public hearing (also known as a TEFRA hearing, after the Tax Equity and Fiscal Responsibility Act of 1982) is required by federal tax regulations as a form of public approval. The hearing provides a reasonable opportunity for interested individuals to express their views, either orally or in writing, on the proposed issue of bonds, location, and nature of the project to be financed. This notice is designed to inform residents of the approving governmental unit, including residents of the issuing unit and the host governmental unit where a project is to be located, of the proposed bond issue.
NOTICES OF UPCOMING PUBLIC HEARINGS
Posted on Thursday, June 24th, 2021 at 2:30pm
NOTICE OF PUBLIC HEARING
NOTICE IS HEREBY GIVEN that on July 2, 2021, a public hearing as required by Section 147(f) of the Internal Revenue Code of 1986, as amended (the “Code”) will be held with respect to the proposed issuance by The Industrial Development Authority of the County of Pima (the “Authority”) of qualified 501(c)(3) bonds, as defined in Section 145 of the Code, for health care and related facilities, in one or more series from time to time pursuant to a plan of finance, in an aggregate principal amount not to exceed $235,000,000 (the “Bonds”). Proceeds of the Bonds are expected to be used by Tucson Medical Center and certain affiliates to:
(a) refund certain prior bonds of the Authority that were used to finance and/or refinance all or a portion of the costs of construction, improvement, renovation and equipping of the health care and related facilities referred to as the campus of Tucson Medical Center, located in Tucson, Arizona, bounded on the south by Grant Road, on the east by Craycroft Road, on the north by Glenn, and extending to the west boundary of the property to the west of Wyatt Road (proceeds not to exceed $90,000,000);
(b) finance and/or refinance the costs of construction, improvement, renovation and equipping of health care and related facilities located at the location described in clause (a) (proceeds not to exceed $27,000,000);
(c) finance the costs of construction, improvement and equipping of health care and related facilities located on certain unimproved (except for the installation of off site improvements, access and utilities to the property line) property located at the intersection of Houghton and Drexel roads in southeast Tucson, Arizona. It is bounded on the west by Houghton Road and on the east by Civano Boulevard and extends both North and South along Drexel Road. The property consists of 43 acres, 23 acres north of Drexel Road and 20 acres south of Drexel Road (proceeds not to exceed $95,000,000); and/or
(d) finance and/or refinance the costs of acquisition of currently unimproved [(except for the installation of off site improvements, access and utilities to the property line)] property consisting of approximately 35 acres in northwest Tucson, located at the southeast corner of West Twin Peaks Road and West Linda Vista Boulevard, Marana, Arizona (proceeds not to exceed $16,000,000) (collectively, the “Project”).
The facilities listed above are owned and operated (or will be owned and operated) by Tucson Medical Center and certain affiliates that are organizations as described in Section 501(c)(3) of the Code.
The hearing will commence at 12:00 p.m., or as soon thereafter as the matter can be heard. The public hearing will be held via teleconference and the public may participate in the teleconference via the following toll-free teleconference line:
The public hearing is being held in accordance with Section 147(f) of the Code and IRS Revenue Procedure 2020-21. At the time set for the public hearing, interested persons will be given the opportunity to express their views, both orally and in writing, on the issuance of the Bonds and the Project. Members of the public may listen to and contribute to any discussion during the public hearing by: (1) dialing toll-free (844) 844-0414; (2) entering access code 225682 at the prompt; and (3) identifying themselves for the record. Persons wishing to participate may submit a written request to speak to email@example.com at least 24 hours before the hearing; however, the hearing officer will also provide a time for additional comments at the end of the public hearing. Oral remarks may not exceed five minutes in duration. Written comments may also be submitted to the Authority at the following address: Slania Law, PLLC, 2980 North Swan Road, Suite 222, Tucson, Arizona 85712, Attention: Michael A. Slania, until the time and date of the hearing.