Discuss, consider and take any appropriate action regarding Resolution Approving the issuance of a Note by HFDC of Central Texas, Inc. to finance and refinance the costs of health facilities for S.P.J.S.T. Rest Home in compliance with Section 147(f) of the Internal Revenue Code (Note: The proposed resolution approving the bonds does not create any liability for Williamson County).

A tax-exempt note (the “Note”) was issued in 2015 by the HFDC of Central Texas, Inc. (the “Issuer”). The proceeds of the Note were loaned to S.P.J.S.T. Rest Home, a non-profit senior living provider, for skilled nursing and assisted living facilities in Taylor, Texas (the “Project”). When the Note was originally issued in 2015, Williamson County’s approved the Note and the Project for purposes of Section 147(f) of the Internal Revenue Code, which allowed the Note to be issued as a tax-exempt obligation. The Issuer, S.P.J.S.T. and the holder of the Note are now proposing to modify the Note in order to extend a mandatory redemption date and make changes to the interest rate. These modifications require the County’s approval in order to preserve the tax-exempt status of the Note. As was the case with the County’s initial approval of the Note, the County’s approval will in no way impose any payment or other obligations on the County with respect to the Note or the Project.