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CSCDA Issues $91,565,000 in Tax-Exempt Bonds for Redlands Community Hospital


November 10, 2016

The California Statewide Communities Development Authority (CSCDA) is pleased to announce the issuance of $91,565,000 in tax-exempt bonds for Redlands Community Hospital, in Redlands, California.

About Redlands Community Hospital (RCH):

RCH, a California nonprofit public benefit corporation, owns and operates a general acute care hospital with 229 licensed beds in the City of Redlands.  RCH provides health care services primarily to the residents of the eastern portions of the San Bernardino Valley.  Originally established as a 40-bed hospital in 1929, RCH has expanded and modernized its facilities to meet the increasing patient care needs of the Inland Empire which includes emergency services, inpatient/outpatient services, home health services, hospice services, maternal services, and family clinics.

About the Financing:

CSCDA partnered with Bank of America Merrill Lynch to underwrite the $91,565,000 in tax-exempt bonds for RCH.  The Bonds were issued to refinance CSCDA’s previously issued Series 2013 Bonds as well as finance improvements to RCH’s facilities, including its operating rooms and emergency room.

About CSCDA:

CSCDA is a joint powers authority created in 1988 and is sponsored by the California State Association of Counties and the League of California Cities.  More than 500 cities, counties and special districts are program participants in CSCDA, which serves as their conduit issuer and provides access to efficiently finance locally-approved projects.  CSCDA has issued more than $57 billion in tax exempt bonds for projects that provide a public benefit by creating jobs, affordable housing, healthcare, infrastructure, schools and other fundamental services.

For more information about CSCDA, please visit: www.cscda.org

For more information about RCH, please visit: www.redlandshospital.org

CLICK HERE to download a PDF version of this announcement

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