(November 6, 2017) NOTICE OF PUBLIC HEARING CITY OF WILLMAR, MINNESOTA NOTICE IS HEREBY GIVEN that the City Council of the City of Willmar, Minnesota (the "City") will conduct a public hearing on November 20, 2017 commencing at 7:00 p.m. or as soon thereafter as the matter may be heard at the Municipal Utilities Building in the City. The purpose of the hearing will be to hear testimony, orally or in writing, on a proposal that the City enter into a Lease (the "Lease") with Carris Health, LLC, a Minnesota nonprofit limited liability company ("Carris") and CentraCare Health System, a Minnesota nonprofit corporation and the sole member of Carris ("CentraCare"). Under the terms of the Lease, Carris will lease and operate Rice Memorial Hospital, a 136-bed acute care hospital with services facility located at 301 Becker Avenue SW in the City and certain related health care facilities including Rice Hospice; Rice Care Center located at 1801 Willmar Ave. SW in the City; and Rice Home Medical facilities located at 1033 19th Avenue SW, Willmar, Minnesota; 115 18th Avenue W, Alexandria, Minnesota; 105 6th Avenue, Madison, Minnesota; and 1020 E Bridge Street, Redwood Falls, Minnesota (collectively, the "Facilities"). The Lease, among other terms, will provide that the rental payments to be made by Carris will equal or exceed the amount required to pay the principal of and interest when due on the (i) General Obligation Hospital Revenue Refunding Bonds, Series 2012A (Rice Memorial Hospital Project) originally issued in the principal amount of $40,910,000 and (ii) Hospital Revenue Notes, Series 2013 (Rice Care Center Project) originally issued in the principal amount of $9,100,000 (collectively, the "Hospital Bonds"), of the City. The principal of and interest on the Hospital Bonds are expected to be paid from the rental payments to be made by Carris under the Lease. At the time and place fixed for the public hearing, the City Council will give all persons who appear at the hearing an opportunity to express their views with respect to the proposal. In addition, interested persons may file written comments respecting the proposal with the City Clerk at or prior to the public hearing.
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Post date: Sunday, November 5, 2017 - 11:59pm