NOTICE OF INTENT TO ISSUE HOSPITAL REVENUE BONDS WITH GENERAL OBLIGATION PLEDGE OF SWIFT COUNTY

NOTICE IS HEREBY GIVEN that Swift County–Benson Hospital (the "Hospital District") intends to issue Hospital Revenue Bonds (the "Bonds"), in a principal amount of not to exceed $7,750,000, pursuant to Minnesota Laws 1992, Ch. 534, Sections 6 to 20 (the "Act"). The proceeds of the Bonds will be used to finance the acquisition of the Scandi Haven Village, a senior housing facility consisting of 58 independent and assisted living units and 19 memory care units, located at 1710 McKinney Ave, in Benson, Minnesota (the “Project”), which is adjacent and connected to the hospital facility owned and operated by the Hospital District. The Project will be acquired from Residential Options, Inc., d/b/a/ Scandi Haven Village, of which the Hospital District is the sole member (the “Seller”), and the Seller will use the proceeds from the sale of the Project to repay certain debt related to the acquisition and renovation of the Project (the “Prior Debt”). If, within ten days of the date of publication of this notice, a petition asking for an election on the proposition of issuing the bonds signed by voters equal to ten percent of the number of votes at the last regular election is filed with the undersigned Secretary of the Hospital District, the bonds may not be issued unless approved by a majority of the electors voting on the question at a legal election.
Dated: April 13, 2020
Tom Anderson
Secretary
Swift County-Benson Hospital