San Luis IDA increases bond authorization to $110 million to finance Regional Center for Border Health hospital
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Summary
The Industrial Development Authority of San Luis amended a prior resolution Jan. 13 to increase bond authorization to $110,000,000 to allow proceeds to be lent to the Regional Center for Border Health. Board adopted the change with an emergency clause; counsel said investment bankers requested the increase and bond counsel indicated no new TEPA hearing was required.
The Industrial Development Authority of San Luis on Jan. 13 adopted an amendment to a previously passed resolution to raise the authorized amount for a proposed bond issuance to $110,000,000. Board members said the increment is intended to allow the sale of bonds whose proceeds would be lent to the Regional Center for Border Health Incorporated to support construction of a new hospital in San Luis.
At a hearing on the amendment, legal counsel (mister Gimbert) told the board that investment bankers had recommended increasing the authorized amount to $110,000,000 to make the bonds marketable. Counsel also stated, according to the meeting record, that bond counsel indicated no new TEPA hearing was required. Board members asked whether the city or board would be exposed to the bond debt; counsel stated that under state law the board and the city would not be responsible for the bond issue, according to his explanation to the board. These are counsel statements recorded in the transcript; the board did not request independent legal confirmation on the record.
An attendee identified as Amanda addressed the board in support of the action, saying, “This is very important to the last process of our getting to the construction of our new hospital in San Luis.” Bank counsel Ashley Dennis was on the phone and identified as available for questions.
Director Joe Harper moved to adopt the resolution with an emergency clause; the motion was seconded (the seconding member is not specified in the transcript) and carried on a voice vote with ayes recorded. The board directed signature execution for the related documents before adjourning.
The transcript identifies the item as an amendment to a resolution previously adopted on 09/08/2025; the meeting record does not list a roll-call vote or record dissent on the change. The board’s action increases the authorized cap for the bond issue and authorizes staff and counsel to proceed with finalization and signatures.
