TITLE
title
Public Hearing for Tax Equity and Fiscal Responsibility Act and Host Approval Request For National Finance Authority Tax Exempt Revenue Bonds for Advanced Housing & Community Services Corporation of Maryland, Inc., and/or Affiliates, for Spring Gardens Detox Project, Series 2026, in an Aggregate Principal Amount Not to Exceed $50,000,000 and Associated Resolution
body
BRIEF OVERVIEW
The Borrower requests that the Board of County Commissioners of Hernando County, Florida (the “BOCC”) (a) conduct a public hearing, and (b) adopt a resolution approving, solely for the purposes of Section 147(f) of the Internal Revenue Code of 1986, as amended (the “Code”), the issuance by the National Finance Authority of its tax-exempt revenue bonds in an aggregate principal amount not to exceed $50,000,000 (the “Bonds”) to finance a behavioral health facility located in unincorporated Hernando County.
The Issuer
The National Finance Authority is a public body corporate and politic of the State of New Hampshire that issues conduit revenue bonds for qualified projects located throughout the United States, including Florida. The Issuer’s bonds are limited obligations payable solely from loan repayments made by the Borrower. They are not obligations of Hernando County, the State of Florida, or any political subdivision of either.
The Borrower
Advanced Housing & Community Services Corporation of Maryland LLC is a Maryland limited liability company whose sole member is Advanced Housing & Community Services Corporation of Maryland Inc., a nonprofit corporation recognized by the Internal Revenue Service as an organization described in Section 501(c)(3) of the Code and registered to transact business in Florida. The Borrower is acquiring a multi-state portfolio of substance use disorder treatment facilities, of which the Hernando County facility described below is one.
The Project
The Hernando County project consists of the acquisition, construction, renovation, expansion, ...
Click here for full text