NOTICE OF PUBLIC HEARING
ON A PROPOSED ISSUE OF QUALIFIED 501(C)(3) REVENUE BONDS
BY THE MONTANA FACILITY FINANCE AUTHORITY
Notice is hereby given that on June 10, 2021, a public hearing as required by Section 147(f) of the Internal Revenue Code of 1986 (the “Code”), will be held in the offices of the Montana Facility Finance Authority (the “Issuer”) located at 2401 Colonial Drive, 3rd Floor, Helena, Montana, at 10:00 a.m. regarding the proposed issuance by the Issuer of qualified 501(c)(3) bonds as defined in Section 145 of the Code, in one or more series, pursuant to Title 90, Chapter 7, Parts 1, 2 and 3 of the Montana Code Annotated, as amended (the “Act”), in an amount not to exceed $100,000,000 (the “Bonds”) as part of a plan of finance. The proceeds of the Bonds will be loaned by the Issuer to Benefis Health System, Inc. (the “Borrower”), and will be used by the Borrower and Benefis Hospitals, Inc., each a Montana nonprofit corporation and an organization described in Section 501(c)(3) of the Code, together with other available funds, to finance, refinance and/or reimburse costs of the acquisition, construction, reconstruction, repair, alteration, enlargement, improvement and equipping of “eligible facilities,” as defined in the Act, and to pay issuance costs of the Bonds. The proceeds of the Bonds will be used to finance, refinance or reimburse costs of the acquisition, construction, reconstruction, repair, alteration, enlargement, improvement and equipping of a portion of the eligible facilities at the following locations (the “Facilities”):
- 2720 10th Avenue S., Great Falls, Montana 59405 (proceeds not to exceed $30,000,000)
- 1101 26th Street S., Great Falls, Montana 59405 (proceeds not to exceed $8,500,000)
- 1401 25th Street S., Great Falls, Montana 59405 (proceeds not to exceed $1,200,000)
- 2101 26th Street S., Great Falls, Montana 59405 (proceeds not to exceed $50,000,000)
- 1600 11th Avenue, Helena, Montana 59601 (proceeds not to exceed $40,000,000)
The Facilities are owned or to be owned by the Borrower and/ or Benefis Hospitals, Inc., and consist of hospital facilities, other health care and related facilities, and medical teaching and related facilities, including land.
The Bonds will be special obligations of the Issuer and will not constitute a debt or a pledge of the faith and credit or the taxing power of the State of Montana. Persons wishing to express their views may appear at the hearing or may submit their views in writing regarding the proposed Bonds and the location and nature of the Facilities.
The Issuer makes reasonable accommodations for any known disability that may interfere with a person’s ability to participate in public meetings. Persons needing an accommodation must notify the Issuer by telephone at 406-444-0259 or in writing at P.O. Box 200506, Helena, Montana 59620, no later than three days prior to the hearing to allow adequate time to make needed arrangements.
Any written submissions should be sent to the Issuer at P.O. Box 200506, Helena, Montana 59620 and should be marked “Re: Revenue Bonds (Benefis Health System Obligated Group), Series 2021.” Written submissions should be mailed in sufficient time to be received before the hearing on June 10, 2021.
Montana Facility Finance Authority
Adam Gill, Executive Director
Dated: June 2, 2021