NOTICE OF PUBLIC HEARING
NOTICE IS HEREBY GIVEN that a public hearing (the "Public Hearing") will be held by the South Carolina Jobs-Economic Development Authority (the "Issuer"), on Thursday, April 2, 2026 at 11:00 a.m., at 1201 Main Street, Suite 1745, Columbia, South Carolina 29201, in connection with the establishment by the Issuer of a commercial paper program which will not have more than $500,000,000 in principal outstanding at any one time and which may be issued in one or more series of tax-exempt or taxable obligations (the "Commercial Paper" or the "Commercial Paper Program"). The Issuer will loan the proceeds of the Commercial Paper to Prisma Health, a South Carolina nonprofit corporation (the "Borrower"). The Commercial Paper will be "qualified 501(c)(3) bonds" as defined in Section 145 of the Internal Revenue Code of 1986, as amended.
The Issuer will loan the proceeds of the Commercial Paper to the Borrower to (i) finance the acquisition, construction, installation, renovation, furnishing and/or equipping of multispecialty ambulatory care centers, ambulatory surgery centers, medical office and administrative buildings, imaging centers and acute care hospital facilities (collectively, the "Projects") and/or the reimbursement of funds previously spent by the Borrower on the Projects, and (ii) finance cost of issuance of the Commercial Paper Program. The Projects will be owned and operated by the Borrower.
The proceeds of the Commercial Paper will be allocated to the following Projects as described below:
(a) not exceeding $275,000,000 to the Greer Memorial Hospital acute care expansion project located at 830 S. Buncombe Road, Greer, SC, (b) not exceeding $110,000,000 to the Greer Medical Park project located at 401 West Road, Greer SC, (c) not exceeding $200,000,000 to the Fountain Inn Medical Park project located at McCarter Road, South Woods and Highway 418 Fountain Inn, SC, (d) not exceeding $8,500,000 to the Prisma Health Primary Care – Fountain Inn (Rural Health Clinic) project located at 200 N. Nelson Drive, Fountain Inn, SC and (e) not exceeding $25,000,000 to the Prisma Health Greenville Memorial Hospital project located at 701 Grove Road, Greenville, SC.
The aggregate not-to-exceed amount (and the per-project amounts shown in the preceding paragraph) are the Borrower's estimates of the amounts of debt that will be needed by the Borrower to finance the costs of the Projects (and the costs of issuance). Pursuant to the Commercial Paper Program, the Borrower will periodically issue new Commercial Paper, some of which will be used to refund the then-outstanding Commercial Paper under the Commercial Paper Program. As a result, the total of all Commercial Paper issuances under the Commercial Paper Program will exceed $500,000,000, but at no time will there be more than $500,000,000 in principal outstanding.
The Commercial Paper will be payable solely by the Issuer and exclusively out of payments to be made by the Borrower and are to be secured, inter alia, by a security interest in the revenues derived by the Issuer from the Borrower in connection with the Projects. The Commercial Paper will not constitute an indebtedness of the Issuer, the State of South Carolina, or any political subdivision thereof within the meaning of any South Carolina constitutional provision or statutory limitation nor give rise to a pecuniary liability of the Issuer, the State of South Carolina, or any political subdivision thereof. The Commercial Paper will not constitute a charge against the general credit or taxing powers of the Issuer, the State of South Carolina, or any political subdivision thereof. The Issuer has no taxing authority.
Pursuant to IRS Revenue Procedure 2022-20, the Public Hearing will be conducted telephonically, and the public will not be able to attend in person. However, all persons who wish to listen to the Public Hearing may join by calling toll free at 1-888-547-5999 and using access code 960347. Members of the public may submit oral or written comments to the Issuer to express their views for or against the proposed issuance of the Commercial Paper, the location and nature of the Projects, or the approval of the issuance of the Commercial Paper. All persons who wish to submit oral comments during the Public Hearing must contact the Issuer, not less than 24 hours prior to the Public Hearing, via email to cmiller@scjeda.com to inform the Issuer of their desire to speak at the Public Hearing. Those who present comments during the Public Hearing will be permitted to address the Issuer regarding the Commercial Paper Program for no more than five minutes. Members of the public may also submit views to the Issuer in writing addressed to SC JEDA, 1201 Main Street, Suite 1600, Columbia, South Carolina 29201 or via email to cmiller@scjeda.com. The Issuer will not prepare a transcript of the Public Hearing.
SOUTH CAROLINA JOBS-ECONOMIC
DEVELOPMENT AUTHORITY
Jesse A. Smith, Executive Director
March 27 2026
LGSC0486795