Commissioners give host approval for Bon Secours Mercy Health conduit bonds; county not liable

At a public hearing March 8, the Warren County Board of Commissioners approved a resolution granting host approval for Bon Secours Mercy Health to issue hospital facilities revenue bonds in an amount not to exceed $942,000,000.

Rebecca Conrad, an associate attorney at Dinsmore & Shohl serving as bond counsel for the transaction, told the board the proceeds would be allocated among 15 Ohio counties, including Warren County. "Of the total amount of the bonds, it's estimated that not more than $130,000,000 will be allocated to facilities here in Warren County," Conrad said. She added the bonds are conduit revenue bonds and "are not a debt or an obligation of Warren County." The entity issuing the bonds will be responsible for repayment.

Conrad said Section 147 of the Internal Revenue Code requires public hearings in each county where bond proceeds are expected to be allocated to qualify for tax‑exempt treatment. County legal counsel confirmed the county is not being asked to assume any liability. "These revenue bonds are not a general obligation debt, or bridal indebtedness of the county," the county attorney said on the record.

After offering the public an opportunity to speak and hearing none, the board closed the public hearing and proceeded to a roll‑call vote. Commissioners Grossman, Jones and Young each voted yes to adopt the resolution.

The board's approval is a local step in a multi‑jurisdictional process required under federal tax law; the county's approval does not impose taxes or repayment obligations on Warren County.