Bryant Miller Olive provides bond counsel to help Chapters Health receive favorable refinancing from the City of Temple Terrace
Grace Dunlap of BMO acted as bond counsel for the refinancing of Chapters Health System’s hospice facilities, in a transaction that consolidated the non-profit organization’s municipal bond debt of $19,365,900 using tax-exempt bonds issued by the City of Temple Terrace. The transaction closed on March 23.
Kathy Fernandez, president/CEO of Chapters Health System, Inc. (center) with BMO’s Grace Dunlap and Kareem Spratling.
“The City of Temple Terrace was pleased to provide a favorable bond mechanism that will enable Chapters Health to continue its mission to provide quality hospice care to the communities in our region,” said Temple Terrace Mayor Kim Leinbach. The City, he noted, acted as a conduit for the bond issue, and did not pledge or expend any of its own funding.
The City’s tax-exempt bonds will help Chapters Health lower its cost of borrowing for capital expenditures, leading to interest savings that the organization can in turn use to further its mission. Chapters Health supports more than 16,500 patients each year in Citrus, Hardee, Hernando, Highlands, Hillsborough, Pasco, Pinellas and Polk counties.
Grace, who is BMO’s managing shareholder and a member of the firm’s Public Finance practice group, provided bond counsel services that included performing tax and securities work and coordinating approvals in Highlands and Polk counties. She has more than 30 years of experience in the area of public finance, including serving as bond counsel for numerous Florida governments and governmental entities in the utility, transportation, education and healthcare industries.
