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League-Sponsored Bond Agency Issues Nearly $246 Million in Tax-Exempt Bonds for Healthcare System in Roseville

September 28, 2018
Some of the most significant benefits of League membership for cities since 1988 have flowed from the League’s co-sponsorship of the California Statewide Communities Development Authority (CSCDA).
The California Statewide Communities Development Authority (CSCDA) announced the issuance of $245,660,000 in tax-exempt bonds for Adventist Health System/West, based in Roseville.
About Adventist Health System/West
Adventist Health is a faith-based, nonprofit integrated health system serving more than 80 communities on the West Coast and Hawaii. Founded on Seventh-day Adventist heritage and values, Adventist Health provides care in 19 hospitals, clinics, home care agencies, hospice agencies and joint-venture retirement centers in both rural and urban communities.
CSCDA partnered with Ziegler Capital Markets, Bank of America Merrill Lynch, RBC Capital Markets, J.P. Morgan Chase, and Orrick, Herrington & Sutcliffe, LLP to provide the $245,660,000 in tax-exempt bonds for Adventist Health. The bonds will provide financing for the relocation of Adventist Health’s corporate office, the acquisition of healthcare facilities, and the refinancing of prior issued bonds.
CSCDA is a joint powers authority created in 1988 and is sponsored by the League of California Cities® and the California State Association of Counties. It was created by cities and counties for cities and counties. More than 530 cities, counties and special districts are program participants in CSCDA, which serves as their conduit issuer and provides access to efficiently finance locally-approved projects. CSCDA has issued more than $60 billion in tax exempt bonds for projects that provide a public benefit by creating jobs, affordable housing, healthcare, infrastructure, schools and other fundamental services. Visit CSCDA’s website for additional information on the ways in which CSCDA can help your city.

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