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About the Authority

The Escambia County Health Facilities Authority is a special purpose Florida public corporation formed in 1975 to provide capital financing for health care facilities. "Health Care Facilities" are defined under Florida law as property operated in the private sector, used for the diagnosis, treatment, therapy, rehabilitation, housing, or care of or for the aged, sick, ill, injured, infirm, impaired, disabled or handicapped; or for the prevention, detection and control of disease, including without limitation thereto, hospital, clinic, emergency, outpatient, and intermediate care, facilities for the elderly such as nursing homes, assisted living facilities, day care and share a home facilities; and related property such as laboratory, research, pharmacy, laundry, health personnel training and lodging; patient, guest and health personnel food service facilities; and offices and office buildings for persons engaged in health care professions or services.

The Authority was established by the Escambia County (Florida) Board of County Commissioners (the "County") in March 1975 pursuant to the provisions of Chapter 154, Part III, Florida Statutes. It has been in continuous operation since that date. The Authority is served by five board members who are appointed by the County, and an Executive Director & General Counsel employed by the Authority Board. The Board members serve staggered four year terms of office. Additional information about the Board can be found in the Board Member Information section. The Authority's operations are governed primarily by Chapter 154 Part III, Chaper 159 Part II, and Chapter 189, Florida Statutes. The Authority has an October 1 - September 30 fiscal year. The Authority Board holds its meetings in its office located at 1019 N. 12th Avenue, Pensacola, FL 32501. All meetings are open to the public. The annual meeting schedule and other information can be found in the Meeting Information section.

The Authority is self-supporting and receives no federal, state or local governmental funding. The Authority receives no tax revenues from any source, and has no taxing power. Its operations are funded through revenues generated by its financing activities, and investment earnings on its reserves.

The exercise by the Authority of the powers conferred upon it by Florida law is held to be the performance of an essential public function. Its primary mission is to provide health care providers within its jurisdiction with the means to assist with the development and maintenance of the public health. It accomplishes this mission by providing qualified non-profit health care organizations with capital financing for their health facilities, primarily in the form of tax exempt bonds, leases, and notes. This type of financing is typically less expensive than conventional financing sources, and enables the organizations to operate more efficiently and improve their provision of health care related services to the community.

The Authority finances capital projects primarily in Escambia County, Florida. However, with the approval of an interlocal agreement between the Authority and the governing body of another Florida county, municipality, special district, or other public corporate body, the Authority may assist health care organizations located in other jurisdictions with their capital financing needs. The Authority is also authorized by law to independently finance projects in locations within and without the State of Florida if the facilities being financed are under the common control of a health care facility located within its jurisdiction. See the Tax Exempt Financing section for additional information.

The bonds issued by the Authority are limited obligations of the Authority payable only from funds made available from the organization receiving financing. The Authority has no obligation to pay the outstanding debt from its general revenues. As a result, the Authority is considered a conduit financing agency, and its bonds are conduit debt obligations. The Authority has no taxing power and the bonds do not constitute a debt or pledge of the full faith and credit of the Authority, Escambia County, the State of Florida or any political subdivision thereof.

In addition to its financing activities, the Authority established a charitable grant program in 2004. The purpose of the program is to increase the amount of capital project funding available to local charitable organizations which provide health care related services to the residents of our community. Grant funding is contingent on funds being available in the Authority´s annual budget for this purpose. Grant recipients are usually smaller charities who have special needs for capital improvements to improve their operations, and not enough regular funding to pay for those needs. See the Charitable Grant section for further information.