NOTICE IS HEREBY GIVEN that the Louisiana Public Facilities Authority (the “Authority”) will hold a public hearing on June 22, 2023, at 10:30 o’clock (10:30) a.m. at the offices of the Authority, 2237 South Acadian Thruway, Suite 650, Baton Rouge, Louisiana, with respect to the captioned revenue bonds (the “Bonds”). The Bonds are proposed to be converted to a tax-exempt interest rate pursuant to a plan of finance in an aggregate face amount not to exceed $200,000,000, and the proceeds of the Bonds have been loaned by the Authority to Louisiana Children’s Medical Center, a Louisiana nonprofit corporation (“LCMC”), for the purpose of, among other things, (i) financing the acquisition by LCMC, from The Administrators of the Tulane Educational Fund, a Louisiana nonprofit corporation, of all of the issued and outstanding equity interests of University Healthcare System, L.L.C., a Louisiana limited liability company in order to obtain ownership of the following hospitals and related facilities: Tulane Medical Center, 1415 Tulane Avenue, New Orleans, Louisiana 70112; Lakeview Regional Medical Center, Judge Tanner Boulevard, Covington, Louisiana 70433; Tulane Lakeside Hospital, 4700 South I-10 Service Road West, Metairie, Louisiana 70001, and capital expenditures throughout the LCMC system, including at the foregoing hospitals and related facilities, and University Medical Center New Orleans, 2000 Canal Street, New Orleans, Louisiana 70112; Children’s Hospital New Orleans, 200 Henry Clay Avenue, New Orleans, Louisiana 70118; West Jefferson Medical Center, 1101 Medical Center Boulevard, Marrero, Louisiana 70072; East Jefferson General Hospital, 4200 Houma Boulevard, Metairie, Louisiana 70006; Touro Infirmary, 1401 Foucher Street, New Orleans, Louisiana 70115; Touro Comprehensive Breast Center, 2929 Napoleon Ave, New Orleans, Louisiana 70115, and related clinical facilities, and (ii) paying costs of issuance of the Bonds.
This supplemental notice is given to include an additional project address for the Touro Comprehensive Breast Center.
The Authority shall conduct the public hearing for the purpose of receiving comments on and hearing any objections (verbal or written) to the proposed conversion of the Bonds and the financing of the above described project. All interested parties are invited to attend such public hearing to express their views. Questions or requests for additional information may be directed to Foley & Judell, L.L.P., Attorneys and Counsellors at Law, One Canal Place, Suite 2600, 365 Canal Street, New Orleans, Louisiana 70130 (504) 568-1249.
Persons who intend to appear at the hearing and express their view are invited to contact Patricia A. Dubroc, President and Chief Executive Officer of the Authority, at the Authority’s offices, either in writing or by telephone (225) 923-0020, in advance of the hearing. Any interested persons unable to attend the hearing may submit their views in writing to Ms. Dubroc prior to the date scheduled for the hearing. The location and time of the hearing may be changed or an additional hearing will be scheduled if requested to do so in written requests submitted to Ms. Dubroc prior to the aforementioned date of the hearing by a significant number of interested persons.
The Bonds are secured solely by payments made by LCMC, are not payable from any other revenue of the Authority or the State of Louisiana, and do not constitute an indebtedness of the Authority or the State of Louisiana, within the meaning of any constitutional or statutory limitation of indebtedness.
This notice is published and the aforementioned public hearing is to be held in satisfaction of the requirements of Section 147(f) of the Internal Revenue Code of 1986, as amended, regarding the public approval prerequisite to the exclusion from gross income for federal income tax purposes of the interest on the Bonds.
Louisiana Public Facilities Authority
June 14, 2023