Brief Description

$300,000,000 Capital Projects Finance Authority Variable Rate Demand Revenue Bonds (Florida Hospital Association - Capital Projects Loan Program) Series 1998A The Series 1998A loan program was created on June 25, 1998 with the issuance of $300,000,000 of variable rate demand revenue bonds. The program was designed to provide financing of various capital projects of certain governmental and private nonprofit healthcare facilities in the State of Florida. Prior to the issuance of the bonds, the Program Administrator conducted a non-binding demand survey of healthcare facilities in the State to determine a reasonable anticipation of demand for such a program. Sixteen (16) healthcare facilities responded indicating anticipated demand in excess of $655,000,000 for such a program. Those facilities have received all approvals required by Section 147(f) of the Internal Revenue Code of 1986, as amended, and are believed qualified to receive all other necessary approvals required by applicable provisions of the Act in order to participate in the Program. To date, the program has originated one loan in an amount totaling $5,560,500. Loans can be originated from the program until June 1, 2001.