Public hearing on revenue bonds issuance for health facilities in Beaumont.

Public Notice City of Beaumont
NOTICE IS HEREBY GIVEN that the Beaumont City Council will conduct a public hearing to consider the matter below. The City Council Public Hearing will be held at 6:00pm on Tuesday, May 5, 2026, at 550 E. 6th Street, Beaumont, California 92223, to receive testimony and comments from all interested persons regarding the adoption of the following matter:
RESOLUTION OF THE COUNCIL OF THE CITY OF BEAUMONT, CALIFORNIA APPROVING THE Issuance of the Public Finance Authority Revenue Bonds, (Flyland Holdings LLC Obligated Group) SERIES 2026 in an Aggregate Principal Amount Not to Exceed $750,000,000 AND CERTAIN OTHER MATTERS RELATING THERETO
The Public Finance Authority (the “ Issuer ”), a unit of government and a body corporate and politic under the laws of the State of Wisconsin, proposes to issue one or more series of revenue bonds (the “ Bonds ”) in an aggregate principal amount not to exceed $750,000,000 for the purpose of, in part, financing facilities located in the City of Beaumont, California (the “ City ”). The proceeds of the Bonds will be loaned to Flyland Holdings LLC (the “ Borrower ”), a Wisconsin limited liability company and a disregarded entity of Stepstone Health Foundation, a Delaware nonprofit corporation and an organization described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended (the “ Code ”), to provide the Borrower and/or Flyland Recovery Network, LLC (“ FRN ”) with moneys to finance or refinance projects located in the States of Florida, Ohio, Indiana, Texas and California. The public hearing is being held pursuant to Section 147(f) of the Code. Subsequent to the public hearing, the members of the City Council of the City will meet to consider approval of the issuance of the Bonds by the Issuer. Public approval by the jurisdictions in which the projects will be located outside of the City will be obtained following a public notice and public hearing in such jurisdictions regarding the Bonds and the facilities to be financed or refinanced by the proceeds thereof.
The portion of the proceeds of the Bonds expected to finance projects located in the City will not exceed $67,000,000 and will be used, together with certain other funds, for the purpose of (i) paying or reimbursing the Borrower and/or FRN, the costs of acquiring, directly or indirectly through the acquisition of a membership interest in the Users (as hereinafter defined), certain substance use disorder and behavioral health facilities and related improvements located in the City and owned or operated by the Users as further described below; (ii) funding one or more debt service reserve funds for the benefit of the Bonds, if deemed necessary or desirable by the Issuer or the Borrower; (iii) funding working capital for the Borrower or the Users, if deemed necessary or desirable by the Issuer or the Borrower; (iv) funding interest accruing on the Bonds, if deemed necessary or desirable by the Issuer or the Borrower; and (v) paying certain expenses incurred in connection with the issuance of the Bonds, including the cost of any bond insurance or other credit or liquidity enhancement, if any. The Bonds will be issued as qualified 501(c)(3) bonds pursuant to Section 145 of the Code.
All of the facilities and improvements financed or refinanced by the Bonds located in the City are or will be owned or principally used by one or more of the Borrower, FRN, and URP California LLC (the “ Corporation ” and, together with FRN, the “ Users ”) and are located at 210 West 6th Street, Beaumont, California 92223, which is an inpatient substance use disorder and behavioral health facility known as Aurora Recovery Center.The Bonds are special, limited obligations of the Issuer, payable solely out of funds to be paid by the Borrower pursuant to an agreement (or agreements) to be entered into between the Borrower and the Issuer and any other revenues and/or other funds pledged and assigned for the payment of the Bonds. The City will not issue the Bonds, nor will the City nor the State of California have any liability with respect to the Bonds or the sale or offering thereof.
Public comments can be made in person, using the public comment phone line or by written email. Phone-in comments will be accepted by calling the designated public comment phone line (951) 922-4845 prior to the corresponding item. Public comments shall not exceed three minutes unless otherwise authorized by City Council. Written comments can be emailed to NicoleW@BeaumontCa.gov with “Public Comment” in the subject line. Public comments accepted via email will be read aloud during the corresponding item of the meeting subject to a three minute time limit. Comments can be submitted any time prior to the meeting as well as during the meeting until the end of the corresponding item.
This meeting will be conducted in person and also and will be recorded for live streaming. All City of Beaumont public meetings will be made available via live streaming and made available on the City’s official YouTube webpage. Please use the following link during the meeting for live stream access: BeaumontCa.gov/Livestream.
In compliance with the Americans with Disabilities Act, if you need special assistance to participate in this meeting, please contact the Office of the City Clerk at (951) 922-4845. Notification 48 hours prior to the meeting will enable the City to make reasonable arrangements to ensure accessibility to this meeting.The Press-EnterprisePublished: 4/23/26