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Higher Education Facilities Commission outlines bond program, reports large hospital financing and seeks small non‑GRF appropriation
Summary
Tom Needles, chairman of the Ohio Higher Education Facilities Commission, told the House Workforce and Higher Education Committee that the commission issues tax‑exempt bonds for nonprofits and reported more than $8 billion in hospital bond issuance and estimated annual interest‑cost savings of over $80 million.
Tom Needles, chairman of the Ohio Higher Education Facilities Commission, told the House Workforce and Higher Education Committee that the commission issues tax‑exempt bonds to help independent nonprofit colleges, universities and certain nonprofit hospitals finance construction, renovation and acquisition of facilities at lower interest rates than market alternatives.
Needles said the commission was established by the Ohio Legislature in the late 1960s and that although the bonds are issued through the state, principal and interest are paid…
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