Many states, including Oregon, provide by law for the creation of a public authority called hospital facility authorities to allow non-profit health care facilities to finance capital improvements through tax-exempt bonds. While nonprofit organizations such as Columbia Lutheran Charities dba Columbia Memorial Hospital (“CMH”) are tax-exempt organizations, they are not permitted to directly issue tax-exempt bonds. Instead, a governmental body such as The Hospital Facilities Authority of the City of Astoria, Oregon (the “Authority”), issues revenue bonds on their behalf. A memorandum providing further explanation of the Authority is linked below.
RES 22-13 CMH Refunding Bond Resolution