Clark County - File #: 21-1359

• File #: 21-1359
• Status: Agenda Ready
• File created: 9/9/2021
• In control: Clark County Board of Commissioners
• On agenda: 9/21/2021
• Title: Conduct a public hearing and approve, adopt and authorize the Chair to sign a resolution approving a Public Finance Authority (Wisconsin) tax exempt 501(c)(3) revenue bond issue in an amount not to exceed $27,000,000 in order to finance and/or refinance the acquisition, improvement, and equipping of various educational facilities for use by Roseman University of Health Sciences. (For possible action)

Date	Action By	Action	Result
9/21/2021	Clark County Board of Commissioners	Approved; Agenda note: DISCUSSION: Following introduction of the item, the Board was addressed by Terrell Sparks and Douglas Dawes from Roseman University who advised that the resolution was for funding a tax-exempt bond issued for a recently acquired property for the Summerlin Campus; no requirements or liability on behalf of the County; the bonds were secured by the revenues and assets of the University; and requested approval by the Board. Chair Kirkpatrick opened the public hearing and asked if there were any persons present in the audience wishing to be heard on the matter. SPEAKER(S): None There being no persons present in the audience wishing to be heard on the matter, Chair Kirkpatrick closed the public hearing.	Pass

CLARK COUNTY BOARD OF COMMISSIONERS

AGENDA ITEM

Petitioner:

Jessica L. Colvin, Chief Financial Officer

Recommendation: 

title

Conduct a public hearing and approve, adopt and authorize the Chair to sign a resolution approving a Public Finance Authority (Wisconsin) tax exempt 501(c)(3) revenue bond issue in an amount not to exceed $27,000,000 in order to finance and/or refinance the acquisition, improvement, and equipping of various educational facilities for use by Roseman University of Health Sciences.  (For possible action)

body

FISCAL IMPACT:

Fund #:	N/A	Fund Name:	N/A
Fund Center:	N/A	Funded PGM/Grant:	N/A
Amount:	N/A
Description:	N/A
Additional Comments:	No fiscal impact.  The bonds are not a financial responsibility of the County.

BACKGROUND: 

Pursuant to Section 147(f) of the Internal Revenue Code, prior to their issuance, the bonds are required to be approved by the “applicable elected representative” of the governmental units having jurisdiction over the area in which the project is located, after a public hearing is held following reasonable public notice. Consequently, approval of the Board is needed to meet the requirements of Section 147(f).