Notice of Intention
To Issue Revenue Bonds Or Notes
(Fall River Health Services Project)
The County Commission of Fall River County, South Dakota, (the “County”) will meet on the 20th day of October, 2020, at 10:00 a.m., at the County Courthouse, 906 North River Street, Hot Springs, South Dakota, for the purpose of conducting a public hearing on the proposal to issue revenue refunding bonds or notes, in one or more series, of the County, in an aggregate principal amount not to exceed $10,000,000 in one or more series (the “Bonds”), and to loan said amount to Fall River Health Services, a South Dakota nonprofit corporation (the “Borrower”), for the purpose of providing funds to the Borrower to (a) refinance certain outstanding indebtedness of the Borrower, the proceeds of which were used to acquire, construction, furnish and equip a new 25- bed hospital facility and ancillary services, a 48-bed new nursing facility attached to the hospital, a physician’s outpatient clinic, and site and other improvements, all located at 1201 Highway 71 South, Hot Springs, South Dakota 57747 (the “Project”) (b) to fund any necessary reserve funds, and (c) to pay certain costs of issuance and certain other costs associated with the issuance of the Bonds. The Project and the facilities refinanced by the Bonds will be owned and operated by the Borrower.
The Bonds, when issued, will not constitute general obligations of the County nor will they be payable in any manner by taxation, but the Bonds will be payable solely and only from amounts received by the County under a Loan Agreement between the County and the Borrower, the obligations of which will be sufficient to pay the principal of and interest and redemption premium, if any, on the Bonds as and when the same shall become due.
By order of the County Commission of Fall River County, South Dakota.
Chairman Joe Falkenburg
Published once at the total approximate cost of $33.12
Published: Oct. 15, 2020