Broward County Commission Regular Meeting
Director's Name: George Tablack
Department: Finance and Administrative Services Division: Administration
Information
Requested Action
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A. MOTION TO OPEN Public Hearing as required by Section 147(f) of the Internal Revenue Code of 1986, as amended (the "Code") relating to the issuance and application of not to exceed $20,000,000 aggregate principal amount of Hospital Revenue and Refunding Bonds (Trinity Health Credit Group) from time to time in one or more series pursuant to a three-year plan of finance (the "Bonds") by the Michigan Finance Authority (the "Issuer"), for the purpose of financing and refinancing certain health care facilities of Holy Cross Hospital, Inc. ("Holy Cross") located in Broward County, owned and operated by Holy Cross in Broward County.
ACTION: (T-11:42 AM) Approved. (Refer to minutes for full discussion.)
VOTE: 7-0. Commissioner Moskowitz was not present.
B. MOTION TO ADOPT Resolution of the Board of County Commissioners of Broward County, Florida, approving for purposes of Section 147(f) of the Internal Revenue Code of 1986, as amended, the issuance by the Michigan Finance Authority of its Hospital Revenue and Refunding Bonds (Trinity Health Credit Group) from time to time in one or more series in an aggregate principal amount not to exceed $20,000,000 and related plan of financing in connection with the financing and refinancing of certain projects for Holy Cross Hospital and providing for an effective date.
ACTION: (T-11:42 AM) Approved Resolution No. 2022-532. (Refer to minutes for full discussion.)
VOTE: 7-0. Commissioner Moskowitz was not present.
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Why Action is Necessary
Motions A and B: The federal Tax Equity and Fiscal Responsibility Act (known as "TEFRA") and U.S. Treasury Regulations promulgated thereunder concerning tax-exempt private activity bonds require a public hearing and adoption of TEFRA Resolution (as defined below) by the Board prior to the ...
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