A. In enacting this section, the General Assembly recognizes that the abilityof the University of Virginia to provide medical and health scienceseducation and related research is dependent upon the maintenance of highquality teaching hospitals and related health care and health maintenancefacilities, collectively referred to in this section as the Medical Center,and that the maintenance of a Medical Center serving such purposes requiresspecialized management and operation that permit the Medical Center to remaineconomically viable and to participate in cooperative arrangements reflectiveof changes in health care delivery.
B. Notwithstanding the provisions of § 32.1-124 exempting hospitals andnursing homes owned or operated by an agency of the Commonwealth from statelicensure, the Medical Center shall be, for so long as the Medical Centermaintains its accreditation by the Joint Commission on Accreditation ofHealth Care Organizations or any successor in interest thereof, deemed to belicensed as a hospital for purposes of other law relating to the operation ofhospitals licensed by the Board of Health. The Medical Center shall not,however, be deemed to be a licensed hospital to the extent any law relatingto licensure of hospitals specifically excludes the Commonwealth or itsagencies. As an agency of the Commonwealth, the Medical Center shall, inaddition, remain (i) exempt from licensure by the Board of Health pursuant to§ 32.1-124 and (ii) subject to the Virginia Tort Claims Act (§ 8.01-195.1 etseq.). Further, this subsection shall not be construed as a waiver of theCommonwealth's sovereign immunity.
C. Without limiting the powers provided in this chapter, the University ofVirginia may create, own in whole or in part or otherwise controlcorporations, partnerships, insurers or other entities whose activities willpromote the operations of the Medical Center and its mission, may cooperateor enter into joint ventures with such entities and government bodies and mayenter into contracts in connection therewith. Without limiting the power ofthe University of Virginia to issue bonds, notes, guarantees, or otherevidence of indebtedness under subsection D in connection with suchactivities, no such creation, ownership or control shall create anyresponsibility of the University, the Commonwealth or any other agencythereof for the operations or obligations of any such entity or in any waymake the University, the Commonwealth, or any other agency thereofresponsible for the payment of debt or other obligations of such entity. Allsuch interests shall be reflected on the financial statements of the MedicalCenter.
D. Notwithstanding the provisions of Chapter 3 (§ 23-14 et seq.) of thistitle, the University of Virginia may issue bonds, notes, guarantees, orother evidence of indebtedness without the approval of any other governmentalbody subject to the following provisions:
1. Such debt is used solely for the purpose of paying not more than 50percent of the cost of capital improvements in connection with the operationof the Medical Center or related issuance costs, reserve funds, and otherfinancing expenses, including interest during construction or acquisitionsand for up to one year thereafter;
2. The only revenues of the University pledged to the payment of such debtare those derived from the operation of the Medical Center and related healthcare and educational activities, and there are pledged therefor no generalfund appropriation and special Medicaid disproportionate share payments forindigent and medically indigent patients who are not eligible for theVirginia Medicaid Program;
3. Such debt states that it does not constitute a debt of the Commonwealth ora pledge of the faith and credit of the Commonwealth;
4. Such debt is not sold to the public;
5. The total principal amount of such debt outstanding at any one time doesnot exceed $25 million;
6. The Treasury Board has approved the terms and structure of such debt;
7. The purpose, terms, and structure of such debt are promptly communicatedto the Governor and the Chairmen of the House Appropriations and SenateFinance Committees; and
8. All such indebtedness is reflected on the financial statements of theMedical Center.
Subject to meeting the conditions set forth above, such debt may be in suchform and have such terms as the board of visitors may provide and shall be inall respects debt of the University for the purposes of §§ 23-23, 23-25, and23-26.
A. In enacting this section, the General Assembly recognizes that the abilityof the University of Virginia to provide medical and health scienceseducation and related research is dependent upon the maintenance of highquality teaching hospitals and related health care and health maintenancefacilities, collectively referred to in this section as the Medical Center,and that the maintenance of a Medical Center serving such purposes requiresspecialized management and operation that permit the Medical Center to remaineconomically viable and to participate in cooperative arrangements reflectiveof changes in health care delivery.
B. Notwithstanding the provisions of § 32.1-124 exempting hospitals andnursing homes owned or operated by an agency of the Commonwealth from statelicensure, the Medical Center shall be, for so long as the Medical Centermaintains its accreditation by the Joint Commission on Accreditation ofHealth Care Organizations or any successor in interest thereof, deemed to belicensed as a hospital for purposes of other law relating to the operation ofhospitals licensed by the Board of Health. The Medical Center shall not,however, be deemed to be a licensed hospital to the extent any law relatingto licensure of hospitals specifically excludes the Commonwealth or itsagencies. As an agency of the Commonwealth, the Medical Center shall, inaddition, remain (i) exempt from licensure by the Board of Health pursuant to§ 32.1-124 and (ii) subject to the Virginia Tort Claims Act (§ 8.01-195.1 etseq.). Further, this subsection shall not be construed as a waiver of theCommonwealth's sovereign immunity.
C. Without limiting the powers provided in this chapter, the University ofVirginia may create, own in whole or in part or otherwise controlcorporations, partnerships, insurers or other entities whose activities willpromote the operations of the Medical Center and its mission, may cooperateor enter into joint ventures with such entities and government bodies and mayenter into contracts in connection therewith. Without limiting the power ofthe University of Virginia to issue bonds, notes, guarantees, or otherevidence of indebtedness under subsection D in connection with suchactivities, no such creation, ownership or control shall create anyresponsibility of the University, the Commonwealth or any other agencythereof for the operations or obligations of any such entity or in any waymake the University, the Commonwealth, or any other agency thereofresponsible for the payment of debt or other obligations of such entity. Allsuch interests shall be reflected on the financial statements of the MedicalCenter.
D. Notwithstanding the provisions of Chapter 3 (§ 23-14 et seq.) of thistitle, the University of Virginia may issue bonds, notes, guarantees, orother evidence of indebtedness without the approval of any other governmentalbody subject to the following provisions:
1. Such debt is used solely for the purpose of paying not more than 50percent of the cost of capital improvements in connection with the operationof the Medical Center or related issuance costs, reserve funds, and otherfinancing expenses, including interest during construction or acquisitionsand for up to one year thereafter;
2. The only revenues of the University pledged to the payment of such debtare those derived from the operation of the Medical Center and related healthcare and educational activities, and there are pledged therefor no generalfund appropriation and special Medicaid disproportionate share payments forindigent and medically indigent patients who are not eligible for theVirginia Medicaid Program;
3. Such debt states that it does not constitute a debt of the Commonwealth ora pledge of the faith and credit of the Commonwealth;
4. Such debt is not sold to the public;
5. The total principal amount of such debt outstanding at any one time doesnot exceed $25 million;
6. The Treasury Board has approved the terms and structure of such debt;
7. The purpose, terms, and structure of such debt are promptly communicatedto the Governor and the Chairmen of the House Appropriations and SenateFinance Committees; and
8. All such indebtedness is reflected on the financial statements of theMedical Center.
Subject to meeting the conditions set forth above, such debt may be in suchform and have such terms as the board of visitors may provide and shall be inall respects debt of the University for the purposes of §§ 23-23, 23-25, and23-26.
A. In enacting this section, the General Assembly recognizes that the abilityof the University of Virginia to provide medical and health scienceseducation and related research is dependent upon the maintenance of highquality teaching hospitals and related health care and health maintenancefacilities, collectively referred to in this section as the Medical Center,and that the maintenance of a Medical Center serving such purposes requiresspecialized management and operation that permit the Medical Center to remaineconomically viable and to participate in cooperative arrangements reflectiveof changes in health care delivery.
B. Notwithstanding the provisions of § 32.1-124 exempting hospitals andnursing homes owned or operated by an agency of the Commonwealth from statelicensure, the Medical Center shall be, for so long as the Medical Centermaintains its accreditation by the Joint Commission on Accreditation ofHealth Care Organizations or any successor in interest thereof, deemed to belicensed as a hospital for purposes of other law relating to the operation ofhospitals licensed by the Board of Health. The Medical Center shall not,however, be deemed to be a licensed hospital to the extent any law relatingto licensure of hospitals specifically excludes the Commonwealth or itsagencies. As an agency of the Commonwealth, the Medical Center shall, inaddition, remain (i) exempt from licensure by the Board of Health pursuant to§ 32.1-124 and (ii) subject to the Virginia Tort Claims Act (§ 8.01-195.1 etseq.). Further, this subsection shall not be construed as a waiver of theCommonwealth's sovereign immunity.
C. Without limiting the powers provided in this chapter, the University ofVirginia may create, own in whole or in part or otherwise controlcorporations, partnerships, insurers or other entities whose activities willpromote the operations of the Medical Center and its mission, may cooperateor enter into joint ventures with such entities and government bodies and mayenter into contracts in connection therewith. Without limiting the power ofthe University of Virginia to issue bonds, notes, guarantees, or otherevidence of indebtedness under subsection D in connection with suchactivities, no such creation, ownership or control shall create anyresponsibility of the University, the Commonwealth or any other agencythereof for the operations or obligations of any such entity or in any waymake the University, the Commonwealth, or any other agency thereofresponsible for the payment of debt or other obligations of such entity. Allsuch interests shall be reflected on the financial statements of the MedicalCenter.
D. Notwithstanding the provisions of Chapter 3 (§ 23-14 et seq.) of thistitle, the University of Virginia may issue bonds, notes, guarantees, orother evidence of indebtedness without the approval of any other governmentalbody subject to the following provisions:
1. Such debt is used solely for the purpose of paying not more than 50percent of the cost of capital improvements in connection with the operationof the Medical Center or related issuance costs, reserve funds, and otherfinancing expenses, including interest during construction or acquisitionsand for up to one year thereafter;
2. The only revenues of the University pledged to the payment of such debtare those derived from the operation of the Medical Center and related healthcare and educational activities, and there are pledged therefor no generalfund appropriation and special Medicaid disproportionate share payments forindigent and medically indigent patients who are not eligible for theVirginia Medicaid Program;
3. Such debt states that it does not constitute a debt of the Commonwealth ora pledge of the faith and credit of the Commonwealth;
4. Such debt is not sold to the public;
5. The total principal amount of such debt outstanding at any one time doesnot exceed $25 million;
6. The Treasury Board has approved the terms and structure of such debt;
7. The purpose, terms, and structure of such debt are promptly communicatedto the Governor and the Chairmen of the House Appropriations and SenateFinance Committees; and
8. All such indebtedness is reflected on the financial statements of theMedical Center.
Subject to meeting the conditions set forth above, such debt may be in suchform and have such terms as the board of visitors may provide and shall be inall respects debt of the University for the purposes of §§ 23-23, 23-25, and23-26.
