NEWS RELEASE

Monday, November 13, 2017

 

The Board of Defiance County Commissioners met in regular session at 9:00 a.m. on Monday, November 13, 2017 in the Commissioners’ Session Room at 500 Court Street, Defiance, Ohio 43512. Commissioner Ryan Mack called the meeting to order.  Also present were Commissioner Mick Pocratsky and Gary Plotts, Sherry Carnahan, Finance Manager/Administrator, and Stephanie Metz, Clerk.

 

The Commissioners met in General Session. They approved and signed various resolutions, contracts and documents. The Commissioners also reviewed the calendar of events and discussed upcoming meetings.

 

Warren Schlatter, Defiance County Engineer, met with the Commissioners to provide an update for the Engineer’s Office and the Landfill. Warren informed the Board that the highway department will be working on culvert replacements in preparation of the 2018 paving projects.

 

Diana Vincen, Dinsmore & Shohl LLP, and Jason Van Dam, Mercy Health, met with the Commissioners for the public hearing for the possible issuance by the County of Allen, Ohio for itself and in cooperation with certain counties including the County, of its County of Allen, Ohio Hospital Facilities Revenue Bonds, Series 2018 (Mercy Health), in one or more series (the "Series 2018 Bonds"), pursuant to Chapter 140, Ohio Revised Code. The County entered into the Participating Public Hospital Agencies Agreement, dated as of May 1, 2008, with the Issuer and certain additional political subdivisions (collectively with the County, the "Participating Public Hospital Agencies") pursuant to Section 140.03, Ohio Revised Code, through a Second Supplement to Participating Public Hospital Agencies Agreement, dated as of April 1, 2015, for the purposes of (a) financing and refinancing through the Issuer certain capital equipment and construction needs of the Corporation and its Affiliates, including the Local Facilities, located within the jurisdiction of the County, including the reimbursement of costs advanced for those purposes, and (b) refunding and retiring outstanding prior indebtedness incurred for such purpose. The Corporation anticipates that the Issuer will issue its Hospital Facilities Revenue Bonds, Series 2018 (Mercy Health), in one or more series (the "Series 2018 Bonds"), in an amount not to exceed $850,000,000 to (a) finance and refinance the acquisition, construction and equipping of Hospital Facilities located in the jurisdiction of the Participating Public Hospital Agencies and (b) refund and retire certain outstanding prior indebtedness, and the Issuer may, from time to time, determine to issue additional revenue bonds, in order to finance and refinance the costs of Hospital Facilities, in cooperation with the Participating Public Hospital Agencies. Any revenue bonds issued under the authority of the Participating Public Hospital Agencies Agreement shall not be, and are not, general obligations, debt or bonded indebtedness of the County or any Participating Public Hospital Agency and the holders or owners of such revenue bonds shall not have the right to have excises or taxes levied by the County or any Participating Public Hospital Agency for the payment of principal of, or interest or premium, if any, on such revenue bonds.  Such payment shall be made only from funds provided by the Corporation or its Affiliates. It is anticipated, based on information provided by the Corporation, that the proceeds of the Series 2018 Bonds will be used to (i) finance, refinance, or reimburse the costs of, the acquisition, construction and equipping of equipment, real property and improvements to Hospital Facilities, at some or all of the following locations: (A) 1400 East Second Street, Defiance, known as Mercy Health - Defiance Clinic, (B) 1404 East Second Street, Defiance, known as Mercy Hospital of Defiance, (C) 1407 East Second Street, Defiance, known as First Church of Christ, and (D) 197 Island Parkway, Defiance, known as Sleep Lab and Office/Medical Records (each, a "project"), the initial owner or principal user of each project being the Corporation, Mercy Health North LLC, or Mercy Health – Defiance Hospital LLC, each an Ohio non-profit corporation or limited liability company, or a related party thereof; (ii) refund all or a portion of the following bonds whose proceeds were utilized to finance or refinance Hospital Facilities at the projects: County of Allen, Ohio Hospital Facilities Revenue Bonds, Series 2010A (Catholic Healthcare Partners); County of Allen, Ohio Hospital Facilities Revenue Bonds, Series 2010B (Catholic Healthcare Partners); County of Lorain, Ohio Adjustable Rate Hospital Facilities Revenue Bonds, Series 2006 (Catholic Healthcare Partners); County of Lorain, Ohio Adjustable Rate Hospital Facilities Revenue Refunding Bonds, Series 2003 (Catholic Healthcare Partners); and County of Lorain, Ohio Adjustable Rate Hospital Facilities Revenue Bonds, Series 2002B (Catholic Healthcare Partners); and (iii) pay costs of issuance of the Series 2018 Bonds.  Not more than $100,000,000 of the stated principal amount of the Series 2018 Bonds will be allocated to any one project listed above.  A portion of the proceeds of the Series 2018 Bonds will also be used to finance and refinance Hospital Facilities at locations outside the County, in the State of Ohio. The Commissioners approved the necessary resolution for this matter.

 

Russ Herman, Defiance County Prosecuting Attorney’s Office, met with the Commissioners to provide an update on various legal matters.

 

Larry Woods and Darby Naton, First Insurance Group; and Julie Rittenhouse, Defiance County Public Safety Services’ Coordinator, met with the Commissioners to discuss the CORSA policy renewal.

 

 

 

Release Approved:          ____________________________________________________         

                                         Ryan Mack, Defiance County Commissioner