PASSED

This enacted ordinance approves participation by The Hospitals and Higher Education Facilities Authority of Philadelphia in financing up to $7.5 million for renovations and new operating-room and other equipment at Thomas Jefferson University Hospitals and affiliated facilities. The financing may also refinance certain existing debt of the hospital, Methodist Hospital Nursing Center, and their affiliates; the listed facilities are in Center City, South Philadelphia, and the Ford Road area.

Declaring that it is desirable for the health, safety and welfare of the people in the area served by Thomas Jefferson University Hospitals, Inc. (the "Hospital") and its affiliates for The Hospitals and Higher Education Facilities Authority of Philadelphia to participate with the Hospital in the refinancing or restructuring of certain outstanding indebtedness of the Hospital and its affiliates and the acquisition and construction of capital improvements to the facilities of the Hospital and its affiliates.