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Trumbull County commissioners hear public hearing on up to $942 million Mercy Health bond issuance; take matter under advisement
Summary
The Trumbull County Board of Commissioners opened a required public hearing on proposed tax-exempt hospital revenue bonds issued by Allen County for Bon Secours Mercy Health and took the measure under advisement for a vote later the same day. County bond counsel said Trumbull County would not be liable for debt service.
Trumbull County commissioners opened a public hearing on a proposed issuance of hospital facilities revenue bonds that would be issued by Allen County for the benefit of Bon Secours Mercy Health and would allow proceeds to be spent in Trumbull County.
Attorney Aubrey Searcy of Dinsmore and Scholl told the commissioners, “This is the County of Allen, Ohio Hospital Facilities revenue bonds series 2025 for Bon Secours Mercy Health,” and said the issuance would use a public hospital agency agreement under Chapter 140 of the Ohio Revised Code to permit a single issuer to provide tax-exempt financing for nonprofit hospitals with facilities across the state.
The public hearing is required by Internal Revenue Code section 142 to allow residents of affected political…
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