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The Medical Clinic Board of the City of Birmingham-South (Alabama) Deal - Lehman Brothers Collection

The Medical Clinic Board of the City of Birmingham-South (Alabama)

Company DealThe Medical Clinic Board of the City of Birmingham-South, Alabama: $4,000,000 first mortgage medical facilities revenue bonds, St. Vincent's Professional Building, series 1973 (St. Vincent's Hospital, Birmingham, Alabama, lease guarantor)
Transaction TypeFirst Mortgage Medical Facilities Revenue Bonds
Deal DescriptionThe Medical Clinic Board of the City of Birmingham-South (Alabama) used the proceeds from this transaction to acquire, construct, and equip a building and other improvements constituting a seven-story, 90,000 square foot professional building and a 327-space parking deck adjacent to St. Vincent's Hospital in Birmingham, Alabama (herein called the "Project"). The Project was constructed on property owned by the Hospital Corporation and was located adjacent to the hospital. The site was leased by the Hospital Corporation to the Professional Building Corporation and in turn by the Professional Building Corporation to the Medical Clinic Board, in each case pursuant to a ground lease with a term of 35 years.
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