Date:
September 1, 2026
07
To:
Board of Supervisors
Title
Approving the Issuance of Bonds by the California Public Finance Authority to Finance or Refinance the Acquisition of and Improvements at Sharp Healthcare Facilities (Districts: 1 and 4)
End
Overview
The County of San Diego ("County") has received a request from the California Public Finance Authority ("CalPFA" or "Authority") to approve the Authority's issuance of tax-exempt qualified 501(c)(3) bonds, as defined in Section 145 of the Internal Revenue Code of 1986 (the "Code"), for hospitals or other health facilities, in one or more series, from time to time pursuant to a plan of finance, in an aggregate principal amount not to exceed $420,000,000 ("Bonds"), for the benefit of Sharp HealthCare (the "Borrower") and certain of its affiliates, including Sharp Memorial Hospital, Grossmont Hospital Corporation and Sharp Chula Vista Medical Center, each of which is a California nonprofit public benefit corporation and an organization described in Section 501(c)(3) of the Code. The Borrower has requested the Authority to serve as the municipal issuer of the revenue bonds to finance and/or refinance the acquisition, renovation, construction, furnishing, equipping and improvement of real property and health care facilities located and/or to be located at or near the facility campuses at the following locations in California:
* Health care facilities owned by Sharp HealthCare and leased and operated by Sharp Memorial Hospital located at 7901 and 8010 Frost Street, 2999, 3003, and 3075 Health Center Drive, and 7850 Vista Hill Avenue, San Diego (bond proceeds in an amount not to exceed $200,000,000).
* Health care facilities leased and operated by Grossmont Hospital Corporation located at 5555 Grossmont Center Drive and 8851 and 8860 Center Drive, La Mesa (bond proceeds in an amount not to exceed $200,000,000).
* Health care facilities owned and operated by Sharp Chula Vista Medical Center located at 751...
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