All meetings will be held at the offices of the Authority located in the Blue Heron Building, 1087 West River St., Suite 250, Boise Idaho. The Idaho Health Facilities Authority, through the Technical Assistance Program, provides subsidies to Idaho health care providers in need of consulting services.
The Authority consists of seven members who are residents of the state and appointed by the Governor. The Authority was established by the Idaho Legislature in 1972 to issue bonds and notes for the purpose of improving health care for residents of this state by providing less expensive financing for health care facilities.
The Authority consists of seven members who are residents of the state and appointed by the Governor. The Authority was established by the Idaho Legislature in 1972 to issue bonds and notes for the purpose of improving health care for residents of this state by providing less expensive financing for health care facilities.
Services
The Idaho Health Facilities was established by the Idaho Legislature in 1972 as a source for eligible health care institutions to access the tax-exempt interest market.
An eligible institution is defined rather broadly as any non-profit or public: hospital, clinic, nursing, home, or other health care facility, laboratory, laundry, administration building, research facility, maintenance, storage or utility facility, auditorium, dining hall, food service and preparation facility, mental and physical health care facility, dental care facility, nursing school, medical teaching facility, or other structures or facility, and all necessary, useful and related equipment, furnishings and appurtenances and including without limitation the acquisition, preparation and development of all lands, real and personal property, necessary or convenient as a site or sites for any of the foregoing; but shall not include such items as food, fuel, supplies or other items which are customarily considered as a current operation charge.
An eligible institution is defined rather broadly as any non-profit or public: hospital, clinic, nursing, home, or other health care facility, laboratory, laundry, administration building, research facility, maintenance, storage or utility facility, auditorium, dining hall, food service and preparation facility, mental and physical health care facility, dental care facility, nursing school, medical teaching facility, or other structures or facility, and all necessary, useful and related equipment, furnishings and appurtenances and including without limitation the acquisition, preparation and development of all lands, real and personal property, necessary or convenient as a site or sites for any of the foregoing; but shall not include such items as food, fuel, supplies or other items which are customarily considered as a current operation charge.
Hawley Troxell serves as the Authority's counsel in these transactions, providing legal advice and assisting with resolutions, public approval meetings, noticing TEFRA hearings and gaining appropriate state approvals when necessary. Sherman & Howard provides bond counsel services. In this role, they draft all legal documents, including resolutions, loan documents, lease agreements and indentures depending on the transaction structure.
The Authority meets its administrative costs through collection of fees both at the time of financing and annually for the term of the debt. All expenses of a particular financing are paid by the borrowing institution, and may be financed as part of the project cost. Listed below is the current fee schedule of the Authority for both the initial and annual fees.
All meetings are open to the public. Meetings: The Authority typically holds meetings at the Authority's office at the Blue Heron Building, 1087 West River Street, Suite 250, Boise, Idaho 83702, although meeting location is subject to change. The notice for the meeting will indicate the date, time and location of the meeting.
This Statement of Policy and Rules sets forth general guidelines and standards for financings, however it does not cover all intricacies or variations which can arise and which the Authority can accommodate.
The Authority's legislation provides that the Authority utilize its financing expertise on behalf of qualified Idaho nonprofit organizations and governmental entities to facilitate access to tax-exempt financing permitted under the Internal Revenue Code (the "Code") or, in the alternative, to facilitate financings that may be taxable under the Code but that may be exempt from State of Idaho income tax, or that derive some other benefit from the Authority's involvement.
The Authority's legislation provides that the Authority utilize its financing expertise on behalf of qualified Idaho nonprofit organizations and governmental entities to facilitate access to tax-exempt financing permitted under the Internal Revenue Code (the "Code") or, in the alternative, to facilitate financings that may be taxable under the Code but that may be exempt from State of Idaho income tax, or that derive some other benefit from the Authority's involvement.
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