NOTICE OF PUBLIC HEARING
NOTICE IS HEREBY GIVEN that commencing at 8:30 a.m., on November 10, 2026, the Michigan Finance Authority (the “MFA”) will hold a public hearing by teleconference, in accordance with Treasury Regulation §1.147(f)-1 and Revenue Procedure 2022-20, for purposes of federal tax law with respect to the proposed issuance of one or more series or subseries of hospital revenue bonds (the “Bonds”), by the MFA in an amount not to exceed $44,000,000 pursuant to a plan of finance for various capital facilities, as more fully described below. The teleconference can be accessed by dialing the following toll-free number and entering the following meeting access code at 8:30 a.m. on November 10, 2026:
Toll-Free Number: (877) 402-9757
Access Code: 3764895#
The proceeds of the Bonds will be loaned to and used by Great Lakes Bay Health Centers, a Michigan nonprofit corporation (the “Borrower”).
The Bonds will be issued as qualified 501(c)(3) bonds pursuant to Section 145 of the Internal Revenue Code of 1986, as amended (the “Code”). The public hearing is intended to comply with the public approval requirements of Section 147(f) of the Code.
The Bonds will provide funds to finance, refinance or reimburse the Borrower for (i) costs of the Project (as defined below); (ii) the refunding of certain revenue bonds, the proceeds of which were used to finance or reimburse the Prior Project (as defined below); (iii) the funding of a debt service reserve fund, if any; and (iv) costs of issuance of the Bonds.
The “Project” consists of the acquisition, construction, renovation, remodeling, installation and equipping of certain healthcare facilities currently owned or to be owned, or leased and operated by the Borrower, and all appurtenances and interests in land or land improvements necessary to accomplish the same at the following addresses:
|
Facility Name |
Location |
Related Not to Exceed Amount |
|---|---|---|
|
The Bay City Property |
102 E. Main Street, Bay City, Michigan 48708 |
$34,000,000 |
|
The Shiawassee Property |
216 E. Comstock Street, Owosso, Michigan 48867 |
$6,000,000 |
The “Prior Project” consisted of the acquisition, construction, renovation, installation and equipping of certain healthcare facilities owned and operated by the Borrower located at the following addresses:
|
Facility Name |
Location |
|---|---|
|
The Davenport Property |
3023 Davenport Ave, Saginaw, Michigan 48602 and |
|
The Warren Property |
321 N. Warren Ave, Saginaw, Michigan 48607 |
The hearing will provide a reasonable opportunity for expression of opinion, argument on the merits and introduction of documentary evidence pertaining to the proposed issuance of the Bonds. Written comments will be accepted by the MFA at TreasMFA@michigan.gov, but must be received on or before the time and date of the hearing. Any questions regarding the hearing should be directed to Graham Davidson at (517) 335-0994 in advance of the meeting.
The Bonds will be limited obligations of the MFA payable only from loan repayments to be made to the MFA and certain funds and accounts established by or pursuant to the bond indenture(s) under which the Bonds will be issued. The Bonds will not be a general obligation of the MFA and will not be a debt of the State of Michigan or any political subdivision of the State of Michigan, including the MFA. The MFA has no taxing power and the issuance of the Bonds will not obligate the State of Michigan or any political subdivision of the State of Michigan to levy or pledge any form of taxation for the Bonds or to make any appropriation for the payment of the Bonds.
Dated: October 22, 2026
John Barton, Authorized Officer
Michigan Finance Authority
Richard H. Austin State Office Building
430 West Allegan, First Floor
Lansing, Michigan 48922
Telephone: (517) 335-0994