Resolution Of The Board Of County Commissioners (The "Board") Of Pasco County, Florida (The "County"), Granting Host Community Approval Pursuant To Section 147(f) Of The Internal Revenue Code Of 1986, As Amended (The "Code"), The Expenditure Of A Portion Of The Proceeds Of Maryland Health And Higher Educational Facilities Authority, Of Its Revenue Bonds (Qualified 501(c)(3) Bonds As Defined In Section 145 Of The Code), In One Or More Series Or Issues, Either Taxable Or Tax-Exempt, Or Both In An Aggregate Principal Amount Not To Exceed $280,000,000 (The "Bonds") For The Purposes Of Financing And Refinancing Costs Incurred Or To Be Incurred By The Johns Hopkins Health System Corporation For The Purposes Described Herein; Providing For Certain Other Matters In Connection Therewith; And Providing An Effective Date.

1:36:02Pretty easy thing. Yep, all right. So Amy Farrell, Budget Director with Pasco County's Office of Management and Budget. Item P sixty nine is a Tax Equity and Fiscal Responsibility Act application and public hearing for John Hopkins All Children's Hospital. Alright, so um a TEPR hearing, so federal tax law allows for the issuance of tax exempt bonds for qualified private activity. IRS regulations require approval from the County Commission as the highest elected governing body with jurisdiction over the area in which the

1:36:32project will occur, a finding the project is in the public interest, and a public hearing to gather input from the public. Approval will allow the Johns Hopkins Help System Corporation to borrow at a tax exempt rate. Um the hospital system is seeking to borrow up to $280 million. Funds will be issued by the Maryland Health and Higher Education Facilities Authority, not Pasco County, and the purpose of the bonds is to finance the acquisition, construction, renovation, or equipping of a five-story approximately 226,000

1:37:03square foot patient care facility located in Wesley Chapel, which will include 56%. Patient care units with an emergency department, imaging, surgery, ambulatory care, that is hard to say, and supporting services. Um

1:37:18other costs of issuance. It's important to remember that the county is not responsible for paying the debt service. There's no cost to the county resulting from the approval of this application, and Johns Hopkins is not borrowing from Pasco County. All right, so uh recommended action, accept public comment and vote on the resolution.

1:37:37Okay. Um Is there anyone here that wishes to speak to this item?

1:37:43Saying that I have one question for the county attorney. I am on the Board of Trustees for John Hopkins, but Uh do I need to accuse myself or I don't

1:37:52that's not a paid position, is it? No. No, you would not need to

1:37:59I think I think we I think we we did the we did this research before. I I I'm pretty sure that you're you're fine it if it's an unpaid position.

1:38:11Does that was that a motion? I make a motion. Okay. All in favor? Aye. Opposed?

1:38:17Anybody online?

1:38:19No no one's been online all day. All right, thank you very much. We are on to the County Administrator's idea. Yeah.