Southcoast Health System 501(c)(3) Revenue Bonds
Edwards Wildman has a long history of serving as bond counsel in connection with the issuance of qualified 501(c)(3) bonds by the Massachusetts Development Finance Agency (and its predecessor) for the benefit of Southcoast Health System, Inc., a Massachusetts non-profit corporation that oversees and coordinates a series of affiliated corporations that provide a broad range of health care and related services to southeastern Massachusetts and adjoining communities in Rhode Island. Bonds issued for the benefit of the System are secured by obligations issued under a Master Trust Indenture and Mortgage and Security Agreement. Each such obligation constitutes a joint and several obligation of the various affiliated corporations that comprise the members of the obligated group. In 2013, members of the Edwards Wildman public finance department served as bond counsel in connection with the System’s most recent transaction, which involved the issuance of $57,785,000 Massachusetts Development Finance Agency Revenue Bonds, Southcoast Health System Obligated Group Issue, Series F (2013), the proceeds of which were used to finance certain “new money” projects of the System.