Sample Application Requirements

In order to be considered for a bond issuance, a health care organization must submit several pieces of information to the Authority.  Below are some sample applications for a standard hospital transaction.  Please note that the information required varies from project to project based on the financial characteristics of the borrower and the type of issuance being pursued.  Therefore, if you are interested in pursuing a financing with the Authority, you must contact the Project Management Division which will provide you with the appropriate application for your project.

Required for all transactions:

Click here for an explanation of the different transactions.

Required for a Negotiated transaction:
  • Letter Requesting a Negotiated Transaction

    For a Negotiated Public Offering or Private Placement, the Authority requires a letter outlining the reason(s) for the request, which may include:

    • Sale of a complex or poor credit
    • Sale of a complex financing structure
    • Volatile market conditions
    • Large issue size
    • Programs or financial techniques that are new to investors
    • Variable rate transactions
  • For a Negotiated Private Placement, the potential borrower must also include a financial analysis indicating that it would be less expensive to complete a private placement or demonstrate that circumstances would limit the effectiveness or usefulness of a public offering.
Needed for all transactions simultaneously or at a later date:
  • Letter Regarding the Appointment of Professionals
  • All potential borrowers must provide a letter outlining their request for a Senior Managing Underwriter (in the event of a negotiated sale) or a financial advisor (in the event of a competitive sale), selected through a competitive process of at least three candidates.  The letter will also include a recommendation for bond counsel, which would also be selected through a competitive process, though the Attorney General retains the right to name bond counsel.  Underwriters, financial advisors, bond counsel and trustees must be qualified by the Authority.  The letter must explain the criteria used in making its decision(s), including how cost played a role.

Please note, the MOUs for Equipment Revenue Note [pdf 61k] and for Assisted Living Facilities [pdf 44k] transactions differ slightly.