READ AND PASSED

The enacted ordinance declares that Philadelphia’s Hospitals and Higher Education Facilities Authority may issue up to $320 million in hospital revenue bonds for Temple Health System and related nonprofit entities. The financing would support Fox Chase acquisition and improvements, renovations at Jeanes Hospital, other Temple capital projects including a Temple University Hospital parking garage and equipment, refinancing existing bonds, a debt reserve, and issuance costs.

Declaring it is desirable for the health, safety and welfare of the people of the area served by Temple University Hospital, Inc., Jeanes Hospital, Temple Physicians, Inc., Temple Health System Transport Team, Inc., the American Oncologic Hospital, the Institute for Cancer Research and Fox Chase Network, Inc. for The Hospitals and Higher Education Facilities Authority of Philadelphia to undertake certain projects for such entities, each of which are nonprofit corporations.