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Inducement Resolution With
<br />Respect to the Proposed Issuance of
<br />Revenue Bonds by the
<br />Economic Development Authority of
<br />Henrico County, Virginia for
<br />Bon Secours Mercy Health, Inc. and its Nonprofit Affiliates
<br />WHEREAS, Bon Secours Mercy Health, Inc., is a Maryland nonstock, nonprofit corporation
<br />("BSMH") qualified to conduct business in the Commonwealth of Virginia (the "Commonwealth"); and
<br />WHEREAS, BSMH along with its affiliates (the "Affiliates") operate a nonprofit healthcare
<br />System (the "System") in seven states and the Republic of Ireland that includes acute care hospitals,
<br />behavioral health facilities, long-term care and rehabilitation facilities, home health agencies, physician
<br />clinics, hospice facilities, clinical laboratories, and ambulatory surgery centers; and
<br />WHEREAS, the System owns and operates the following facilities in the Commonwealth: (i) Bon
<br />Secours Mary Immaculate Hospital in Newport News, Virginia, (ii) Bon Secours Maryview Medical
<br />Center in Portsmouth, Virginia, (iii) Bon Secours Hcalth Center at Harbour View in Suffolk, Virginia,
<br />(iv) Southampton Medical Center in Franklin, Virginia, (v) St. Francis Medical Center in Chesterfield
<br />County, Virginia, (vi) St. Mary's Hospital in Henrico County, Virginia, (vii) Rappahannock General
<br />Hospital in Lancaster County, Virginia, (viii) Bon Secours Memorial Regional Medical Center in Hanover
<br />County, Virginia, (ix) Ashland Emergency Center in Hanover County, Virginia, (x) Richmond Community
<br />Hospital in Richmond, Virginia, (xi) Bon Secours — Southside Medical Center in Petersburg, Virginia and
<br />(xii) Bon Secours — Southern Virginia Medical Center in Emporia, Virginia (collectively, the "Hospital
<br />Facilities"), and
<br />WHEREAS, BSMH has requested that the Economic Development Authority of Henrico Count%.
<br />Virginia (the "Authority") issue one or more series of its Health Facilities Revenue Bonds (Bon Secours
<br />Mercy Health, Inc.) (the "Bonds") in order to (i) finance or refinance the costs of certain capital
<br />expenditures, including the acquisition, construction, equipping, expansion, enlargement and impro% eniunt
<br />of certain of the Hospital Facilities, including reimbursement, (ii) pay a portion of the interest on the Bonds.
<br />if deemed necessary, (iii)establish one or more debt service reserve funds, if deemed necessary. and
<br />(iv) pay certain expenses incurred in connection with the issuance of the Bonds (collect4el%. the
<br />"Financing Purposes"), and
<br />WHEREAS, the Bonds will be issued pursuant to the Virginia Industrial Development and
<br />Revenue Bond Act, Chapter 49, Title 15.2, Code of Virginia of 1950, as amended (the "Act"), and %% ill be
<br />limited obligations of the Authority payable solely from the revenues and receipts derived from pay menu
<br />by BSMH; and
<br />WHEREAS, pursuant to Section 15.241905 of the Act, if a locality other than I Ienrico Count%,
<br />Virginia has created an industrial development authority pursuant to the Act, the Act does not perm it the
<br />Authority to finance facilities within the boundaries of such locality unless the go%enum" bvch of the
<br />locality where the facilities are located concurs with the inducement resolution of this Authorit\ and sho\\ s
<br />its concurrence in a duly adopted resolution; and
<br />WHEREAS, the independent cities of Newport News, Portsmouth, Suflulk. I rant.lin, Richmond,
<br />Petersburg and Emporia, Virginia and the counties of Hanover, Chesterfield and I ,nicaster. V irgim,i. h,n e
<br />each created an industrial development authority pursuant to the Act; and
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