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2024-077
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Last modified
1/9/2025 1:49:50 PM
Creation date
1/9/2025 1:48:57 PM
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Resolutions
Resolution Number
2024-077
Approved Date
12/17/2024
Agenda Item Number
11.A.3.
Resolution Type
Approving the Issuance Hospital Revenue Bonds
Entity Name
Orlando Health, Inc.
Subject
Approving issuance of Hospital Renvenue Bonds by Orange County Health facilities (Orlando Health
Obligasted Group) in aggregate principal amount nte $200,000,000
for the benefit of Orlando Health, Inc.
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RESOLUTION NO. 24-077 <br />on the Orlando Health Sebastian River Hospital Campus having a main address <br />of 13695 U.S. Highway 1 Sebastian, Florida. The Orlando Health Sebastian River <br />Hospital Campus is bordered generally by 143rd Street on the north, U.S. Highway <br />1 on the east, 83rd Street/Bay Street on the south and the Sebastian River on the <br />west, and includes the following additional addresses in Sebastian, Florida: 7915, <br />7925, 7955, 7965 and 8005 83,d Avenue/Bay Street. The initial owner of the <br />facilities described above is OHSRH, LLC, and initial principal user of such facilities <br />is Orlando Health -----$200,000,000. <br />WHEREAS, Section 147(f) of the Code requires the approval of the issuance of <br />the Bonds by the Board of County Commissioners, as the "applicable elected <br />representative" under Section 147(f) of the Code, after a public hearing following <br />reasonable public notice; and <br />WHEREAS, attached hereto as Exhibit A is a copy of the Notice of Public Hearing, <br />which was posted on the primary website of Indian River County, Florida on December <br />4, 2024. <br />NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY <br />COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, AS FOLLOWS: <br />Section 1. The issuance by the Orange County Authority of the foregoing Bonds <br />under the plan of finance described above, in an aggregate principal amount not to <br />exceed $200,000,000 with respect to the facilities in Indian River County, Florida <br />described above, in one or more series over the longest period permitted by law for the <br />purposes set forth above, is hereby approved. <br />Section 2. The Bonds shall not constitute a debt, liability or obligation of Indian <br />River County, Florida or of the State of Florida or of any political subdivision thereof or a <br />pledge of the faith and credit or any taxing power of Indian River County, Florida or of the <br />State of Florida or of any political subdivision thereof, but shall be limited obligations of <br />the Orange County Authority payable solely from and secured by a pledge of payments <br />made by Orlando Health. <br />Section 3. The approval given herein shall be solely for the purpose of satisfying <br />the requirements of Section 147(f) of the Code and shall not be construed as an approval <br />of any zoning application or any regulatory permit required in connection with the <br />issuance of the Bonds or creating any vested rights with respect to any land use <br />regulations, and the Board of County Commissioners shall not be construed by virtue of <br />its adoption of this Resolution to have waived, or be estopped from asserting, any rights <br />or responsibilities it may have in that regard. <br />Section 4. This Resolution shall take effect immediately upon its adoption. <br />Adopted this 17th day of December 2024. <br />
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