Wednesday, September 09, 2026 - Industrial Development Authority Special Meeting

The City of San Luis Industrial Development Authority 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. Bond counsel Ashley Dennis explained that the amendment would authorize the use of existing tax-exempt bond proceeds to refinance outstanding USDA loans associated with the project, without increasing the principal amount or changing the project scope. The bonds, issued as a conduit financing by the IDA, are secured by liens on the new hospital and other facilities, with repayment obligations resting solely on the Regional Center and its affiliate. The board voted unanimously to adopt the resolution, thereby approving the application of bond proceeds for the refunding component anticipated to occur around summer 2028. The bond holder representative was identified as Hamlin Capital Management.