Kutak Rock Serves as Counsel to the Underwriters for Provident Group – UIC Surgery Center LLC ProjectNews | September 4, 2020
Kutak Rock served as counsel to the Underwriters in connection with the issuance and sale of the $149,845,000 Illinois Finance Authority Health Services Facility Lease Revenue Bonds (Provident Group – UIC Surgery Center LLC – University of Illinois Health Services Facility Project) Series 2020. The Bonds were issued for the purposes of: (a) financing the cost of the design, development, construction and a portion of the equipping of an approximately 200,000 square foot six-story outpatient surgery and specialty clinics facility to be part of the University of Illinois Hospital and related site development.
The project is to be located on land owned by The Board of Trustees of the University of Illinois on the campus of the University of Illinois – Chicago which is part of the University of Illinois System; (b) funding capitalized interest on the Bonds during the period of construction of the project and for approximately six months following the completion of the project; and (c) paying the costs of issuing the Bonds. The project is being accomplished through a public-private partnership between the University of Illinois and Provident Resources Group.