Alaska Industrial Development and Export Authority approves $60 million revenue bonds for hospital

By Lisa Kerner

Charlotte, N.C., March 14 - Alaska Industrial Development and Export Authority (Aidea) announced that its board approved the issuance of up to $60 million in tax-exempt conduit revenue bonds.

The bonds are expected to price the week of March 25, according to a notice.

Proceeds will be used to finance the construction of new surgical suites and supporting space at Fairbanks Memorial Hospital, an Aidea news release stated.

Fairbanks is owned by the Greater Fairbanks Community Hospital Foundation. The project is expected to provide 150 jobs per year for three years, according to Aidea.

Aidea's Conduit Revenue Bond Program enables Aidea to issue taxable and tax-exempt bonds on behalf of a private or public entity. The bonds are payable from funded projects' revenues.

The bond program has issued more than $1.3 billion of bonds for 316 projects.

Anchorage-based Aidea is a public corporation of the state that promotes and develops economic welfare for the people of Alaska.

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