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Session Laws, 1999
Volume 796, Page 3744   View pdf image
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(2) In making the determinations under this subsection, the Health
Services Cost Review Commission shall consider:

(i) The amount of the system-wide savings to the State health care
system expected to result from the [closure or delicensure] CLOSURE, DELICENSURE,
OR CONVERSION of the hospital over:

1. The period during which the fee to provide for the
payment of the closure costs or any bonds" or notes issued to finance the closure costs
will be assessed; or

2. ' A period ending 5 years after the date of [closure or
delicensure,] CLOSURE, DELICENSURE, OR CONVERSION whichever is the longer; and

(ii) The recommendations of the Health Resources Planning
Commission and the Authority.

(3) Within 60 days after receiving the notice of closure or delicensure
required by subsection [(e),] (F), the Health Services Cost Review Commission shall:

(i) Determine whether to provide for the payment of all or any
portion of the closure costs of the hospital in accordance with this subsection; and

(ii) Give written notification of such determination to the Health
Resources Planning Commission and the Authority.

(4) The provisions of this subsection may not be construed to require the
Health Services Cost Review Commission to make provision for the payment of any
closure costs of a [closed or delicensed] CLOSED, DELICENSED, OR CONVERTED
hospital.

(5) In any suit, action or proceeding involving the validity or
enforceability of any bond or note issued to finance any closure costs or any security
for a bond or note, the determinations of the Health Services Cost Review
Commission under this subsection shall be conclusive and binding.

[(h)] (I) (1) Within 60 days after receiving the written statement required
by subsection [(f)] (G) of this section, the Authority shall prepare a schedule of
payments necessary to meet the public body obligations of the hospital.

(2) As soon as practicable after receipt of the notice of [closure or
delicensure] CLOSURE, DELICENSURE, OR CONVERSION required by subsection [(e)]
(F) and after consultation with the issuer of each public body obligation and the
Health Services Cost Review Commission, the Authority shall prepare a proposed
plan to finance, refinance or otherwise provide for the payment of public body
obligations. The proposed plan may include any tender, redemption, advance
refunding or other technique deemed appropriate by the Authority.

(3) As soon as practicable after receipt of written notification that the
Health Services Cost Review Commission has determined to provide for the payment
of any closure costs of a hospital pursuant to subsection [(g)] (H) of this section, the

 

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Session Laws, 1999
Volume 796, Page 3744   View pdf image
 Jump to  
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