NOTICE OF PUBLIC HEARING
Notice is hereby given that a public hearing as required by Section 147(f) of the Internal Revenue Code of 1986 (the “Code”) will be held telephonically at 10:00 a.m. Eastern Standard Time on January 2, 2025 by the Kentucky Bond Development Corporation (the “Issuer”), concerning the proposed issuance, in one or more series or sub-series, by the Issuer, for the benefit of Baptist Healthcare System, Inc. (“Baptist Health”), a Kentucky not-for-profit corporation and an organization described in Section 501(c)(3) of the Code, of up to $500,000,000 aggregate principal amount of the Issuer’s Hospital Revenue Bonds, City of Williamsburg, Series 2025 (Baptist Healthcare System Obligated Group) (the “Bonds”), pursuant to a resolution or resolutions of the Issuer.
The proceeds of the Bonds in the respective maximum principal amounts set forth below will be used by Baptist Health for financing, refinancing, or reimbursing a portion of the costs of the purchase, acquisition, construction, enlargement, remodeling, renovation, improvement, furnishing or equipping of the hospitals, other health facilities and their related facilities, including land, owned or operated by Baptist Health or Baptist Health Medical Group (“BHMG”), an affiliate of Baptist Health and an organization described in Section 501(c)(3) of the Code, and generally located at the locations, all as described below
(a) Construction, renovation and equipping of improvements to Baptist Health Louisville, generally located at 4000 Kresge Way, St. Matthews, Jefferson County, Kentucky, including, but not limited to improvements to the imaging, surgery, and behavioral health departments ($10,000,000 maximum principal amount);
(b) Construction, renovation and equipping of improvements to Baptist Health medical office building space generally located from 3900 – 4003 Kresge Way and 4004 Dupont Circle, St. Matthews, Jefferson County, Kentucky, including, but not limited to, improvements to specialty and primary care provider offices and clinics ($35,000,000 maximum principal amount);
(c) Acquisition, construction, build out and equipping of an ambulatory care facility located at 2800 Breckenridge Lane, Louisville, Jefferson County, Kentucky ($40,000,000 maximum principal amount);
(d) Acquisition, construction, and equipping of an urgent care and free-standing emergency department facility located at 11701 Bluegrass Parkway, City of Jeffersontown, Jefferson County, Kentucky ($20,000,000 maximum principal amount);
(e) Construction, renovation and equipping of improvements to the Baptist Health Eastpoint Surgery Center, located at 2400 Eastpoint Parkway, Louisville, Jefferson County, Kentucky, including, but not limited to, improvements to the imaging department ($10,000,000 maximum principal amount);
(f) Acquisition of approximately 45 acres of land and construction of an inpatient hospital and/or outpatient health care facility located in the Clore Station Development, generally located at in the northeast quadrant of the intersection of KY 329 and Interstate 71 (Exit 14), in Oldham County, Kentucky ($50,000,000 maximum principal amount);
(g) Construction, renovation and equipping of improvements to Baptist Health LaGrange, generally located at 1025 New Moody Lane, LaGrange, Oldham County, Kentucky, including, but not limited to improvements to the imaging, surgery, and behavioral health departments ($20,000,000 maximum principal amount);
(h) Construction, renovation and equipping of outpatient behavioral health offices located at 1006 New Moody Lane, LaGrange, Oldham County, Kentucky ($9,000,000 maximum principal amount);
(i) Acquisition, construction, renovation of equipping of a central pharmacy service center located at 1051 New Moody Lane, LaGrange, Oldham County, Kentucky ($40,000,000 maximum principal amount);
(j) Construction, renovation and equipping of improvements to Baptist Health Lexington, generally located at 1740 Nicholasville Road, Lexington, Fayette County, Kentucky, including, but not limited to, improvements to the surgery department and cardiac catheterization spaces ($16,000,000 maximum principal amount);
(k) Acquisition, construction and equipping of Hamburg outpatient care facility, generally located at 3000 Baptist Health Boulevard, Lexington, Fayette County, Kentucky ($250,000,000 maximum principal amount);
(l) Acquisition, construction, renovation and equipping of a medical office building located at 2530 Sir Barton Way, Lexington, Fayette County, Kentucky ($12,000,000 maximum principal amount);
(m) Construction, renovation and equipping of improvements to Baptist Health Paducah, generally located at 2501 Kentucky Avenue, Paducah, McCracken County, Kentucky, including, but not limited to, improvements to the imaging department ($3,000,000 maximum principal amount);
(n) Construction, renovation and equipping of improvements to Baptist Health Corbin, generally located at 1 Trillium Way and 60 Bryan Boulevard, Corbin, Whitley County, Kentucky, including, but not limited to, improvements to the pharmacy department and outpatient diagnostic center ($5,000,000 maximum principal amount);
(o) Construction, renovation and equipping of improvements to Baptist Health Hardin, generally located at 913 North Dixie Highway, Elizabethtown, Hardin County, Kentucky, including, but not limited to, improvements to the pharmacy department and construction of the Hardin Medical Pavilion located at 200 Cardinal Drive, Elizabethtown, Hardin County, Kentucky ($225,000,000 maximum principal amount);
(p) Construction, renovation and equipping of improvements to Baptist Health Richmond, generally located at 801 Eastern Bypass, Richmond, Madison County, Kentucky, including, but not limited to, improvements to the behavioral health department ($7,000,000 maximum principal amount); and
(q) to pay all or a portion of the costs of issuance of the Bonds.
The Issuer, at the request of Baptist Health, reserves the right to issue Bonds under the above-described plan of financing for less than all of the above-described purposes and/or in an aggregate amount less than the maximum aggregate amount shown above; and component parts of the projects to be financed may have allocations that are less (or insubstantially more) than the estimated maximum allocations shown above.
Interested persons who wish to express their opinions on the proposed financing may participate in the telephonic public hearing by calling the telephonic conference line at 1-833-827-2649 (a toll-free telephone number), Conference I.D.: 336 762 495, or by submitting written comments to the address below, provided such written comments are delivered to the Issuer prior to the time of the public hearing.
Additional information concerning the proposed financing may be obtained from, and written comments should be address to, the Kentucky Bond Development Corporation, 100 East Vine Street, Suite 800, Lexington, Kentucky 40507, Attention: Steven Pickarski, Telephone: 859-977-3743, Email: spickarski@klc.org.
This notice is published in accordance with the Code and the regulations promulgated thereunder.
KENTUCKY BOND DEVELOPMENT CORPORATION
