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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. 


Posted on Thursday, November 7th, 2019 at 1:15PM

Brief Summary: NOTICE IS HEREBY GIVEN that on November 15, 2019, a public hearing as required by Section 147(f) of the Internal Revenue Code of 1986 (the “Code”) will be held by The Industrial Development Authority of the County of Pima (the “Authority”) regarding certain tax-exempt lease obligations (the “Obligations”) to be undertaken pursuant to a plan of finance in an aggregate principal amount not to exceed $20,000,000. The proceeds of the Obligations will be used by Tucson Medical Center (the “Company”) as the borrower to finance and/or refinance the acquisition, purchase and installation of equipment for the Company’s facilities referred to as the campus of Tucson Medical Center, and located at (i) 5301 East Grant Road, (ii) 5099 East Grant Road, (iii) 2715 North Wyatt Drive, (iv) 2625 North Craycroft Road, #111, (v) 2695 North Craycroft Road, (vi) 2424 North Wyatt Drive, (vii) 1400 North Wilmot Road, (viii)2221 North Rosemont Boulevard, and (xi) 2100 North Rosemont Boulevard, all in Tucson, Arizona. The equipment to be financed will be owned and operated by the Company, an Arizona nonprofit corporation, a healthcare institution under ARS §36-401 and an organization as described in Section 501(c)(3) of the Code. ​