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Warren County approves up to $8 million in hospital revenue bonds for Community First Solutions
Summary
The Warren County commissioners adopted a resolution authorizing the issuance and sale of up to $8 million in hospital facilities improvement revenue bonds for Community First Solutions to finance acquisition and improvement of a 41-unit assisted-living community in Mason; the bonds are nonrecourse to county taxpayers.
Warren County commissioners on Monday authorized the issuance and sale of hospital facilities improvement revenue bonds not to exceed $8,000,000 for Community First Solutions, a nonprofit operator that will use bond proceeds to acquire and improve a 41-unit assisted-living and memory-care community in Mason.
The bonds will be issued under Ohio law and are, as bond counsel said at the public hearing, "backed solely by the revenues of the borrowers" and "do not constitute debt or general obligations of the county." That representation was repeated by counsel and accepted by the commissioners during the hearing.
Ally Kimbler of bond counsel presented the proposal and said the proceeds would…
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