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Committee moves proposed Shepherd of the Valley conduit bond to council; project in Salem ~ $60M, bond up to $120M
Summary
Committee of the Whole voted unanimously to refer a proposed conduit bond for Shepherd of the Valley to council and scheduled a public hearing; bond counsel said the financing would use Chapter 140 of the Ohio Revised Code to issue tax-exempt debt.
Council's Committee of the Whole heard a presentation on a proposed conduit bond for Shepherd of the Valley, with Aubrey Siri of Dinsmore & Shohl serving as bond counsel and Rich L., chief executive officer of Shepherd of the Valley, providing project details. According to the presentation, Chapter 140 of the Ohio Revised Code allows political subdivisions to issue tax-exempt bonds on behalf of nonprofit hospital or senior-living facilities, enabling…
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