Canton-Potsdam Hospital (the “Hospital”) has requested that the Issuer consider issuing its Civic Development Corporation Revenue Bonds (Canton-Potsdam Hospital Project) in the aggregate principal amount not to exceed $18,200,000 (the “Bonds”) to finance a project (the
“Project”) for the benefit of the Hospital consisting of: (A) (1) the construction of an approximately 10,090 square foot addition (the “Addition”) to the Hospital’s existing building located at 50 Leroy Street, Potsdam, New York (“the “Existing Facility”) to create a comprehensive cancer treatment center; (2) renovation of the Existing Facility, including the modification and renovation of the existing emergency department and other improvements; (3) the acquisition and installation in the Existing Facility and the Addition of certain machinery and equipment (the “Equipment” and, together with the Existing Facility and the Addition, being collectively referred to as the “Project Facility”); (B) the refunding of the St. Lawrence County Industrial Development Agency Multi-Mode Variable Rate Civic Facility Revenue Bonds (Canton-Potsdam Hospital Project-Letter of Credit Secured), Series 2002 (the “Series 2002 Bonds”) which financed prior construction and renovations of the Existing Facility; and (C) paying costs incidental to the financing thereof.
The Project Facility will be owned by the Hospital. The Issuer and the Hospital will enter into a financing agreement (the “Agreement”) requiring that the Hospital make payments equal to the debt service on the Bonds and make certain other payments. The Bonds will be a special obligation of the Issuer payable solely from payments made by the Hospital under the Agreement. The bonds shall not be a debt of the State of New York or
any political subdivision thereof, including, without limitation, the County of St. Lawrence and neither the State of New York nor any political subdivision thereof, including, without limitation, the County of St. Lawrence, shall be liable thereon.
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Canton-Potsdam Hospital Foundation
Canton-Potsdam Hospital Foundation (the "Foundation") has requested that the Issuer consider issuing its Civic Development Corporation Revenue Bonds (Canton-Potsdam Hospital Project) in the aggregate principal amount not to exceed $4,000,000 (the "Bonds") to finance a project (the "Project") for the benefit of the Foundation consisting of:Learn More