Industrial Development Authority Corporation Spacial Meeting

The City of San Luis Industrial Development Authority Corporation held a special meeting on September 9, 2026, primarily to discuss and approve an amending resolution related to bond financing for the Regional Center for Border Health Project. The board considered Resolution 202602, which authorizes the application of bond proceeds to refinance existing USDA loans associated with the project. The bonds, issued as tax-exempt hospital revenue bonds, will not increase in principal amount nor change the project scope but will allow for a cleaner financial structure by removing USDA loans and replacing them with bond financing. The refinancing is anticipated to occur toward the end of the hospital's construction, around summer 2028, with no additional financial exposure to the city or other parties. The board voted to approve the resolution, enabling the use of up to $10 million in bond proceeds for this purpose.