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Public hearing held; commissioners OK use of proceeds from Allen County-issued bonds for Mercy Health projects in Butler County
Summary
Butler County commissioners held a public hearing and approved authorizing use of proceeds from bonds to benefit Bon Secours Mercy Health facilities in Butler County, allowing Allen County to issue tax-exempt hospital revenue bonds with up to $52 million of proceeds to be spent locally.
The Butler County Board of Commissioners opened and closed a statutorily required public hearing and authorized the county’s elected representative to approve the use of proceeds from a private-activity, tax-exempt hospital revenue bond issue that will be issued by Allen County for the benefit of Bon Secours Mercy Health-affiliated hospitals.
Bond counsel/representative Michael told the board that Allen County, Ohio, will be the issuer and that Butler County’s approval is required only as part of federal regulations governing private-activity tax-exempt bonds. "Allen County will be the issuer…
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