Bill Type and Number: Resolution 2006-1237

Sponsor: Council President at the Request of the Jacksonville Health Facilities Authority

Date of Introduction: November 14, 2006

Committee(s) of Reference: F; A

Date of Analysis: November 16, 2006

Type of Action: Bond Issuance Approval

Bill Summary: This bill makes findings and approves the issuance by the Jacksonville Health Facilities Authority of its Hospital Revenue Refunding Bonds in an aggregate principal amount not to exceed $130,000,000. Conflicting resolutions or orders are superseded and repealed to the extent of any such conflict.

Background Information: Southern Baptist Hospital of Florida, Inc., d/b/a Baptist Medical Center, has requested issuance of these bonds to refund on a current basis the outstanding principal amount, pay premium, and pay outstanding interest on certain Series 1997A bonds, and to pay certain costs of issuance relative to the bonds. Baptist Medical Center has advised the Jacksonville Health Facilities Authority that such refunding will produce a present value savings to Baptist Medical Center in excess of $9,500,000.

Policy Impact Area: Jacksonville Health Facilities Authority; Bonds

Fiscal Impact: Undetermined; provides for issuance of bonds in an aggregate principal amount not to exceed $130,000,000

Analyst: Campbell