NOTICE OF PUBLIC HEARING
NOTICE IS HEREBY GIVEN that a public hearing will be held on behalf of the Mayor of the City and County of Honolulu (the “Mayor”), on May 14, 2024, at 1:00 p.m., or as soon thereafter as the matter can be heard, at Adventist Health Castle, Lower Level Auditorium, 640 Ulukahiki St. Kailua, HI 96734, regarding the proposed issuance by the National Finance Authority (the “Issuer”) of its qualified 501(c)(3) bonds, as defined in Section 145 of the Internal Revenue Code of 1986 (the “Code”), for hospitals or other health facilities, in one or more series, in an aggregate principal amount not to exceed $255,000,000 (the “Bonds”). The public hearing is required by Section 147(f) of the Code and Section 162-S:10 of the New Hampshire Revised Statutes.
Proceeds from the sale of the Bonds will be loaned to Roseville Sustainable Energy Partner LLC, a Delaware limited liability company (the “Borrower”), the sole member of which is Genesis Foundation Inc., a Delaware nonprofit corporation (the “Sole Member”), which will use a portion of the proceeds, in the amount not to exceed $100,000,000, to finance and/or reimburse the costs of the acquisition, development, construction, improvement and equipping of certain energy related improvements, including but not limited to upgrading and replacing central utility plant assets, installing solar arrays, replacing air handling units, upgrading building automation systems and implementing battery storage solutions, or making other infrastructure improvements (the “Energy Projects”) at the health facilities owned and operated by Castle Medical Center d/b/a Adventist Health Castle (“AH Castle”) or Adventist Health System/West (the “Health System”) and located at the following locations:
640 ‘Ulukahiki Street, Kailua, HI 96734 (the “Health Facility”) (bond proceeds in an amount not to exceed $92,000,000)
30 Aulike Street Suite 202, Kailua, HI 96734 (the “Medical Office Building and Ancillary Buildings”) (bond proceeds in an amount not to exceed $5,000,000)
The Borrower, AH Castle and the Health System are each an organization described in Section 501(c)(3) of the Code or a limited liability company directly owned by an organization described in Section 501(c)(3) of the Code. The Energy Projects will be owned by the Borrower, AH Castle or the Health System. The Health Facility, the Medical Office Building and Ancillary Buildings and the Energy Projects are referred to herein as the “Project.”
The Bonds, including the principal of (premium, if any) and interest thereon, do not constitute a debt or a loan of credit or a pledge of the full faith and credit or taxing power of the City and County of Honolulu and shall never constitute or give rise to a pecuniary liability of the City and County of Honolulu. The Bonds shall not constitute, directly or indirectly, or contingently obligate or otherwise constitute a general obligation of or a charge against the general credit of the City and County of Honolulu but shall be special limited obligations of the Issuer payable solely from the sources provided for in the proceedings for the issuance of the Bonds.
At the time and place set for the public hearing, interested persons will be given a reasonable opportunity to express their views, both orally and in writing, on the merits and location of the Project, the issuance of the Bonds or related matters. Written comments may also be submitted to the Mayor at the following address: c/o Adventist Health Castle, Administration, Attn: Helen Linton, 640 Ulukahiki St. Kailua, HI 96734, or email AHCScommunications@ah.org, until the time and date of the hearing. Persons requiring an accommodation consistent with the Americans with Disabilities Act should contact hearing representatives at Skye Lown at 808.263.5142, at least two (2) business days in advance of the hearing. The public hearing location is wheelchair accessible.
DATE OF NOTICE: May 6, 2024 MAYOR OF THE CITY AND COUNTY
OF HONOLULU
(SA1453809 5/6/24)
