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Clermont County commissioners approve resolution supporting Allen County bond issue for Mercy Health projects
Summary
The Clermont County Board of Commissioners adopted Resolution 024-25 to approve a public hearing and authorize local participation in Allen Countyhospital facilities revenue bonds for Bon Secours Mercy Health, covering up to $21 million in local projects and confirming indemnification terms in an existing agreement.
The Clermont County Board of Commissioners on March 12 adopted Resolution 024-25 approving local participation in a proposed Allen County, Ohio, hospital facilities revenue bond issuance to benefit Bon Secours Mercy Health Incorporated.
The board voted unanimously to add and adopt the resolution after a public hearing at which Michael Dean of the law firm Densmore & Scholl described the legal requirements and project specifics. "We are seeking this approval in 15 different counties throughout the state of Ohio," Dean told the commissioners, saying the total authorized bond amount would be a little under $950 million and that about $21 million of proceeds would be spent in Clermont County, with roughly $16 million for new capital projects and $5 million for refunding.
The vote followed a published legal notice in the Cincinnati Enquirer and no public comments or written correspondence were received during the hearing, county staff said.
Why it matters: The action allows proceeds from an Allen County bond issuance to be spent on Mercy Health projects in Clermont County and authorizes county officials to execute related documents. Dean said an existing participating public hospital agencies agreement, dated February 2008, will remain in place and contains an indemnification from Mercy Health to the county covering costs or damages that arise from the agreement or this approval.
Details presented to the board identified six local facilities or projects tied to the financing: Mercy Health Orthopedics and Sports Medicine on Glastonree-Williamsville Road [transcript spelling], the Heart Institute in Bethel, the Bethel outpatient rehabilitation and therapy facility, work at the hospital itself, the Clermont Medical Arts Building, and Mercy Health Center in Milford.
No members of the public spoke in favor or opposition during the hearing. After the board closed the hearing and returned to regular session, commissioners moved to add Resolution 024-25 to the agenda and then voted to adopt it. The clerk recorded votes of "Yes" from Commissioner Bachelor, Commissioner Corcoran and Commissioner Painter.
What the resolution does and does not say: The resolution authorizes the Board of County Commissioners of Clermont County to "approve the issuance of hospital facilities revenue bonds of the County of Allen, Ohio, Series 2025, Bon Secours Mercy Health Incorporated, solely as it relates to local facilities," and authorizes execution of documents necessary for the transaction. The board did not set bond terms beyond the maximum amounts described by counsel, and the formal bond issuance would be executed by Allen County as described by Dean.
County staff also noted that no correspondence had been received by the clerk regarding the bond matter.
What comes next: The bond issuance process described by counsel requires approvals or proceedings in multiple counties because proceeds will be used across jurisdictions; Clermont County's resolution is one of those approvals. The transcript does not specify further local approvals, timelines for Allen County's final sale, or the identities of bond underwriters or trustees.
