Commissioners approve up to $450M in revenue bonds for St. Charles projects

The Deschutes County Board of Commissioners voted unanimously July 29 to approve resolution 2026-039, allowing the Hospital Facility Authority to issue revenue and refunding bonds for St. Charles Health System in an aggregate principal amount not to exceed $450,000,000. Robert Tintill, who identified himself as chief financial officer, told the board the bonds would not be an obligation of the county.

"So the 20 26 bonds will be payable only from the revenues and the resources provided by the St. Charles Health System," Tintill said. "So it's not an obligation of the county, just wanted to make sure that is clear." Bond counsel and St. Charles representatives described the proposed use of proceeds, with JC Bridges, interim CFO and vice president of finance, saying the single largest investment would be an expansion to inpatient rehabilitation beds and associated clinical spaces. "The single largest project that this will be covering is an expansion to inpatient rehab, beds...so that is the single largest investment that will be made with these funds," Bridges said.

Presenters told commissioners the authorization would be up to $450,000,000 but the actual series and amounts will depend on specific projects and market conditions. The board opened a public hearing, heard no public comment, and then moved and seconded approval of the resolution. Commissioner Dyer, Commissioner DeBoehn and the chair all voted yes.