Shakopee adopts revenue bonds to fund Saint Francis emergency department expansion

The Shakopee City Council on Nov. 5 adopted Resolution R2025-125 authorizing the issuance of conduit revenue bonds for the benefit of Saint Francis Regional Medical Center to refund prior bonds and fund an emergency department renovation and expansion.

City staff told the council the bonds would be conduit debt, meaning "the city has no liability to pay out the bonds or financial impact on the city of Shakopee," and that the city would receive a fee as part of the transaction. The public hearing proceeded with Saint Francis executives and the issuer's bond counsel in attendance.

"This bond financing is to support an emergency department renovation and expansion project and the refunding of series 2014 bonds as well as other capital needs," said Amy Jourty, president and…