County Grants Tefra Approval for PH Financing

CLEARFIELD – At yesterday’s work session, the Clearfield County Commissioners approved a resolution and granted tefra approval to Penn Highlands Healthcare for a $90 million financing.

Penn Highlands Healthcare consists of campuses in Clearfield, DuBois, St. Marys and Brookville, as well as a few other affiliated entities. The DuBois City Hospital Authority is the financing entity for the financing, said County Solicitor Kim Kesner.

Kesner explained that after a previous commissioners’ meeting, bond counsel for the hospital authority contacted him. He was advised that he’d incorrectly stated the financing amount to the media.

He said the entire financing is for $90 million. Of that, he said a $10 million portion is for new construction and equipment acquisition.

According to him, it is a non-taxable financing that under the Internal Revenue code required the tefra approval by the commissioners. The hospital authority, he said, conducted its tefra hearing on May 23.

When asked, Kesner said the commissioners’ tefra approval doesn’t create any liability for the county.

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