HomeMy WebLinkAbout05-16-2023 Public Hearing MinutesMinutes of the Public Hearing
City of Canton, Fulton County, Illinois
May 16, 2023
The Public Hearing was called to order at 6:35 p.m. to be held in the Canton City Hall of
the City of Canton, Fulton County, Illinois (the "City"), 50 N. 4th Avenue, Canton, Illinois
regarding a plan to issue not to exceed $15,000,000 in aggregate principal amount of the City's
Health Care Facilities Revenue Bonds, Series 2023 (Graham Hospital Association Project) (the
"Bonds").
Mayor Kent A. McDowell, as Hearing Officer read the following statement:
Good evening, ladies and gentlemen. This hearing will come to order. Let the
record reflect this is a public hearing being held pursuant to the requirements of
Section 147(fl of the Internal Revenue Code of 1986, as amended. This is a hearing
regarding a plan to issue not to exceed $15, 000, 000 in aggregate principal amount
of the City's Health Care Facilities Revenue Bonds, Series 2023 (Graham Hospital
Association Project). The proceeds of the Bonds will be loaned to Graham Hospital
Association, an Illinois not for profit corporation (the "Borrower') to (i) finance
or reimburse the acquisition, construction, remodeling and equipping of certain
health facilities, including, but not limited to (a) the convenient care relocation
project located at 126 N. 5th Avenue, Canton, Illinois 61520 and various equipment
and system upgrades at the facility located at 210 West Walnut Street, Canton,
Illinois 61520, (b) the clinic expansion project and related hospital infrastructure
located at 1630 East Jackson Street, Macomb, Illinois 61455, and (c) the clinic
expansion projects and related hospital infrastructure located at 1174 North
Seminary Street, Galesburg, Illinois 61401, 530 North Seminary Street, Galesburg,
Illinois 61401, and 2028 North Seminary Street, Galesburg, Illinois 61401
(collectively, the "Project'), and (ii) pay all or a portion of the costs of issuing the
Bonds.
The Bonds will not constitute a debt of the City or of the State of Illinois within the
meaning of any provisions of the Constitution or statutes of the State of Illinois or
a pledge of the faith and credit of the City or of the State of Illinois or grant to the
owners thereof any right to have the City levy any taxes or appropriate any funds
for the payment of the principal thereof or interest thereon. The Bonds will be
payable solely out of the revenues and other funds pledged for their payment in
accordance with the bond and loan agreement with the Borrower under which the
Bonds will be issued.
This public hearing is required by Section 14769 of the Internal Revenue Code of
1986, as amended. At the time and place set for the public hearing, residents,
taxpayers and other interested persons will be given the opportunity to express their
views for or against the proposed plan of financing, the issuance of the Bonds and
the purpose of the issuance of the Bonds.
The Hearing Officer asked if there was anyone who wished to submit written comments.
[Please insert comments here]
None
... The Hearing Officer asked all residents, taxpayers or
other interested persons attending the hearing and desiring an opportunity to express their views
for or against the proposed Bonds, to please stand so that they may have an opportunity to make
those comments or statements. [Please insert comments here]
None
The Hearing Officer concluded the public hearing regarding a plan to issue not to exceed
$15,000,000 in aggregate principal amount of the City's Health Care Facilities Revenue Bonds,
Series 2023 (Graham Hospital Association Project).
Let the Record further reflect this public hearing was concluded at the hour of 6:39 p.m.,
May 16, 2023.
Respectfully Submitted,
By:
lnt . McDowell, Mayor
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