October 3, 2024
The California Statewide Communities Development Authority (CSCDA) is pleased to announce the issuance of $123,589,000 in tax-exempt and taxable bonds for Loma Linda University Medical Center.
About Loma Linda University Medical Center:
Loma Linda University Medical Center (LLUMC), a 501c3 nonprofit organization, provides nearly 900 beds for patient care throughout its campuses in Loma Linda, Redlands and Murrieta, California. LLUMC operates some of the largest clinical programs in the United States in areas such as neonatal care and outpatient surgery and is recognized as the international leader in infant heart transplantation and proton treatments for cancer. Each year, LLUMC admits more than 33,000 inpatients and serves roughly half a million outpatients. LLUMC is the only level one regional trauma center and Children’s Hospital for Inyo, Mono, Riverside, and San Bernardino counties.
About the Financing:
CSCDA partnered with Bank of America Securities and Orrick, Herrington & Sutcliffe, LLP to provide the Series 2024 bonds. The Series 2024 bonds were issued to finance improvements to LLUMC’s medical facilities as well as refund a portion of CSCDA’s prior issued bonds. The 2024 capital improvements include seismic safety improvements, cancer center expansion, proton therapy equipment upgrades, electronic medical record expansion and upgrades, and emergency generator installation.
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 530 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 $75 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 LLUMC, please visit: www.lluh.org
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