03/19/1985 (2)
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..' CLEARWATER
. HEALTH
FACILITIES
AUTHORITY
MINUTES
Date
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CLEARWATER HEALTH FACILITIES AUTHORITY
. Mayor's Conference Room - 4:30 p.m.
Agenda - Maroh 19, 1981
~. C~ll to order
.2. Approva~ of Minutes 4/18/84
3. Purpose of Meeting:
To Qon~ider an interlooal agreement for
Joint Participation with Orange County Health
Faollitie~ Authority ro~ a Pooled Hospital
Loan Program for Morton Plant Hospital.
Speaker: John Stokes
of Foley, Lardner and Slade
Tampa. Florida
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4~ Disoussion
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5. Adjourn
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3,9B9,~7
1,099,459
$1,235,496
5,088,716
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MORTON F. PLANT HOSPITAL
PROPOSED BORROWINGS
ORANGE COUNTY T.E.C.P. PROBRAM
3/19/85
EXPENDED
Aft.r 1/1/83
ESTIMATED
FUTURE
EXPENDITURES
ESTIMATED
TOTAL
MAJOR CONSTRUCTION PROJECTS
Adl.r Building
Witt AdditiDn and
Ambulatory Surgery
*1,235,496
,.,8
LAND AND IMPROVEMENTS
Land Purchase. and
Imprev.mentlB
1,115,928
1,115,928
BUILDING IMPROVEMENTS
1..096,270
1,634,737
2,731,007
PROPOSED PARKING DECK
217,124
4,882..876
5,100,000
TOTAL
*7,6:54..075
lI:l:a..:a===III1:&
.7,617..072
..a==IIl_cnuau_
.15.271,147
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* C.O.N Being prepared.
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CLEARWATBR HEALTH r'ACI~ITIES AUTHORITY
Narch 19, 1985
The City of Clearwater Health Facilities Authority met in special session
in the Mayorts Conferenoe Room, City Hall on Tuesday, March 19, 1985.
The following members were present:
c. J. Wollett
George Bouse, Jr.
Ruth Condon
Clinton Holden
Frank George, Jr.
Chairman
Vice-Chairman
Also present were:
John Gray
Emil C. Marquardt, Jr
Spencer Kisby
Administrator, Morton Plant Hospital
Attorney for Morton Plant Hospital
Finance Director, Morton Plant
Hospital
Director, Non-profit Hospital
Venture Group
City Attorney
City Clerk
Grant Hurst
.~
Thomas Bustin
Lucille Williams
The meeting was called to order at 4:33 p.m. by Chairman C. J. Wollett.
He presented the minutes of the April 18, 1964 meeting which had been mailed
to the members of the Authority. Upon hearing no corrections or additions,
he declared the minutes approved.
The Chairman read into the record the purpose of the meeting, which was
to consider an interlocal agreement for joint pal'ticipation with Orange County
Health Facilities Authority for a pooled hospital loan program to finance the
cost of qualifying projects or to refinance outstanding principal indebtedness
of Horton Plant Hospital.
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E. C. Marquardt, Jr., Attorney for the Hospital, stated the Authority is
not being asked to approve a bond issue. There is no financial or legal
responsibility attached to this program. It is simply a matter of courtesy
of the public agency in the county or municipality where the hospital is located
to permit Morton F. Plant to enter into a program which, while sponsored by
another Health Facilities Authority, would drastically reduce the cost to Morton
F. Plant of financing its capital needs. This bond issue, 1n the amount of
$94,000,000 by the Orange County Health Facilities Authority may be used to
finance, refinance and reimburse the cost of qualifying projects for private
non-profit hospitals located outside of Orange County. By signing the
interlocal agreement, the Clearwater Health Facilities Authority finds that
there is a need for financing and/or refinancing and that the municipality and
county in which the hospital is located will be benefited therefrom. The two
projects that Morton Plant would refinance are: 1) the Adler Building, on which
$1,235,496 has been expended; and 2) the Witt Addition and Ambulatory Surgery
unit, costing $3,989,257.
Spencer Kisby distributed an exhibit which outlines in detail the estimated
expenditures and the total proposed amount to be financed. The exhibit is
attached for the record and includes land purchases and improvements, building
iprovements and a proposed parking deck.
The bond issue allows expenditures made after January, 1963, to be
recovered by the participating hospital. The interest cost for the loan as
of February 26, 1985 was 5.47%.
--
Artists renderings of the proposed and partially constructed projects were
displayed. The Adler building has been completed. It included an additional
25,000 sq ft. and the renovation of additional space for laboratories. There
are ancillary services on the second floor. The Witt Addition is finished but
not oocupied. This building contains seven stories and provided 24 private
rooms, as well as extra meeting room space. The Ambulatory Surgery Wing is
under construotion and projected completion date is June, 1965.
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He reported the hospital had recently purchased tho Sheppard
and they are in the process of renovating the site. The proposed
parking deck will have the capacity to park 1,000 employee cars.
parking lots will he developed for additional buildings after the
of the parking garage.
Dental Clinic
seVen-story
The current
oonstruction
The hospital will need $15,271, l/n for all of the proposed construction
and renovations, which they will be able to obtain through the interlocal
agreement. He estimated the ambulatory surgery unit would be open in October
and the estimated expenditure needed by that time. The building improvements
for a number of projects should be completed in approximately one year. They
are ready to file a certificate of need for the propo3ed parking deck and are
awaiting approval for the certificate of need for a rehabilitation and
behavioral center. A construction time-table is set and a9 areas are cleared,
construction will commence.
Hr. Marquardt reported this is a seven year p~ogram and approximately
$20,000,000 has al~eady been committed to va~iou9 hospitals. This is not a
bond issue, it is commercial paper which is issued for from 1 to 180 days.
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Discussion ensued on the $1.8 million bond issue
in 1982 for the acquisition of health care eqUipment.
been paid, without the City's knowledge, in September
requested a letter from the hospital noting repayment
the Authority had approved
The bond issue has since
1984. The Authority
of the debt.
The. Chairman expressed concerns on losing the support of local banks if
this proposal is accepted. Mr. Marquardt stated there was no indication of
opposition. Mr. Kisby noted the $7,654,075 will be drawn down immediately and
placed with the local banks for investment purposes.
The City Attorney stated Chapter 163 F.S. allows the Clearwater Hospital
Facility Authority to enter into an interlacal agreement and that there would
be no obligation to. the City.
Clinton Holden moved to enter into the interlacal agreement and that the
appropriate officials be authorized to execute same. Motion was duly seconded
and carried unanimously.
Special thanks and best wishes were extended to City Attorney, Thomas
Bustin, who is leaving the City to become County Attorney in Alachua County.
Meeting adjourned at 5:20 p.m.
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City. Cl~rk as Secretary to the Authority
.. I.~ i ~'L~, duly appointed City Clerk of the City of
Clearwater, Florida, certify the foregoing to be a true and correct
copy of the minutes of the March 19, 1985, meeting of the Clearwater
Health Facilities Authority, and all persons dealing with the
Authority may rely upon this certificate.
~ .:...- '
\-lit~ss my h~
this ~ day of
the corp'orate seal of .the City of Clearwater
, 19a..(.:' cl
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City Clerk
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