NOTICE OF PUBLIC HEARING BEING HELD BY SUSSEX COUNTY, DELAWARE WITH RESPECT TO AN AMOUNT NOT TO EXCEED $80,000,000 OF BONDS ISSUED BY THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF SIERRA VISTA (ARIZONA) FOR A PROJECT LOCATED IN SUSSEX COUNTY, DELAWARE.
 
NOTICE IS HEREBY GIVEN that on March 5, 2024, at 10:15 a.m., or as soon thereafter as the matter can be heard, a public hearing as required by Section 147(f) of the Internal Revenue Code of 1986, as amended (the “Code”), will be held by Sussex County, Delaware (the “County”) or by a designee appointed to conduct the hearing, at Council Chambers, Sussex County Administration Building, 2 The Circle, Georgetown, DE 19947, regarding the proposed issuance by The Industrial Development Authority of the City of Sierra Vista (the “Issuer”) of its revenue notes, bonds or other obligations in one or more series from time to time pursuant to a plan of financing, in an amount not to exceed $80,000,000 (the “Bonds”), a portion of which in an amount not to exceed $6,000,000 will be allocated to and used in Sussex County, Delaware (the “Sussex County Portion”).    
 
The Bonds are expected to be issued by the Issuer, an Arizona nonprofit corporation designated as a political subdivision of the State of Arizona, incorporated with the approval of the City of Sierra Vista (the “City”), pursuant to the Industrial Development Financing Act, Title 35, Chapter 5, Sections 35-701 et seq., Arizona Revised Statutes, as amended (the “Act”), and the Constitution and laws of the State.  The Sussex County Portion will be loaned to Inperium, Inc. (together with its affiliates or assigns, the “Borrower”), a Pennsylvania nonprofit corporation and organization described in Section 501(c)(3) of the Code, and used  to pay all or a portion of the costs of (i) financing or refinancing the acquisition, construction, improvement, and or equipping of healthcare facilities and other related property located at various locations within the Sussex County, Delaware, as described on Exhibit A, attached hereto (the “Bond-Financed Facilities”); (ii) funding any required reserve funds, including a deposit to the debt service reserve fund, (iii) paying capitalized interest on the Bonds, if any, and (iv) paying certain issuance expenses related to the Bonds (collectively, the “Project”).  The Bond-Financed Facilities will be owned and operated by the Borrower or one of its affiliates, each of which is an organization described in 501(c)(3) of the Code.
 
The Bonds are payable solely from loan repayments to be made by the Borrower and will not be debt obligations of the Issuer, the City of Sierra Vista, the County, the State of Delaware, the State of Arizona or any political subdivision or other governmental entity of either state. 
 
The public is invited to attend the meeting at the location, date and time set forth above and all persons in attendance will be given the opportunity to be heard.  The County requests that interested parties submit any comments in writing.  All attendance inquiries should be directed to the County, c/o Gina Jennings, Finance Director at gjennings@sussexcountyde.gov.