NOTICE OF PUBLIC HEARING

NOTICE IS HEREBY GIVEN that, on behalf of the City of Yuma and the City of San Luis, Arizona, on August 21, 2024 a public hearing will be held by a representative for The Industrial Development Authority of the City of Yuma, Arizona (the “Issuer”), regarding the proposed issuance by the Issuer of its qualified 501(c)(3) bonds as defined in Section 145 of the Internal Revenue Code of 1986, as amended (the “Code”) for healthcare facilities in one or more series from time to time pursuant to a plan of financing (the “Bonds”), in an aggregate principal amount not to exceed $310,000,000.

The proceeds from the sale of the Bonds will be loaned to Yuma Regional Medical Center, Inc. (the “Corporation”), an Arizona nonprofit corporation and an organization described in Section 501(c)(3) of the Code for the following purposes (collectively, the “Projects”): 

(1) An amount not exceeding a maximum aggregate principal amount of $50,000,000, to refund all or a portion of certain prior bonds issued by the Issuer, on behalf of the Corporation, the proceeds of which were used to finance and/or refinance, costs of construction, improvements and renovations to and equipping of, hospital and other health care and support facilities owned by the Corporation, generally located at the following addresses: (i) 2400 South Avenue A, Yuma, Arizona 85364; and (ii) 1320 West 24th Street, Yuma, Arizona 85364.

(2) An amount not exceeding a maximum aggregate principal amount of $260,000,000 to finance, including reimburse for, and/ or refinance costs of the acquisition, improvement, renovation and equipping, including capitalized interest, of hospital and other health care and support facilities owned by or to be owned by the Corporation, generally located at the following addresses: (i) 2400 South Avenue A, Yuma, Arizona 85364 (principal amount not to exceed $180,000,000); (ii) Southeast corner of West 24th Street and Avenue A, Yuma, Arizona 85364 (principal amount not to exceed $60,000,000); (iii) 7214 East 31st Place, Yuma, Arizona 85365 (principal amount not to exceed $15,000,000), (iv) Southwest corner of County 22nd Street and Main Street, San Luis, Arizona 85349 (principal amount not to exceed $60,000,000) and (v) Southeast corner of County 24th Street and Avenue E, San Luis, Arizona 85349 (principal amount not to exceed $40,000,000).

The Bonds shall constitute special limited obligations of the Issuer.  The principal of, premium (if any), and interest on the Bonds shall never constitute the debt or indebtedness, or a liability, of the Issuer, the City of Yuma (the “City”) or the State of Arizona (the “State”) or any political subdivision of the State within the meaning of any provision of the Constitution of the State and shall not constitute nor give rise to a pecuniary liability or a charge against the general credit or taxing powers of the Issuer, the City, or the State or any political subdivision of the State, but shall be payable solely from the sources provided for in the proceedings for the issuance of the Bonds.  The Issuer has no taxing power.

The public hearing is being held in accordance with Section 147(f) of the Code.  The hearing will be held at 1:00 p.m. Pacific Standard Time or as soon thereafter as the matter can be heard and will be held in City Hall Conference Room #141, City of Yuma Offices, One City Plaza, Yuma, Arizona 85364.  At the time set for the public hearing, interested persons will be given the opportunity to express their views, both orally and in writing, on the issuance of the Bonds and the Projects.  Members of the public may attend the public hearing in person.  Persons wishing to participate may submit a written request to speak to Trevor White (TWhite@yumalawyers.com) at least 24 hours before the hearing; however, the hearing officer will also provide a time for additional comments at the end of the public hearing.  Oral remarks may not exceed five minutes in duration.  Written comments may also be submitted to the Issuer electronically at TWhite@yumalawyers.com and via physical delivery at the following address:  The Industrial Development Authority of the City of Yuma, Arizona in care of Benesch, Shadle & White, PLC, 833 E. Plaza Circle, Ste 100, Yuma, Arizona 85365, Attention:  Trevor White, until the time and date of the hearing.  Written submission should be mailed in sufficient time to be received on or before the day prior to the hearing.

Date of Notice:  August 13, 2024

THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF YUMA, ARIZONA

4131-7896-9938.4