efile Public Visual Render
ObjectId: 202343189349313034 - Submission: 2023-11-14
TIN: 41-6011702
Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.
Schedule K
(Form 990)
Department of the Treasury
Internal Revenue Service
Supplemental Information on Tax-Exempt Bonds
Complete if the organization answered "Yes" to Form 990, Part
Ⅵ
, line 24a. Provide descriptions,
explanations, and any additional information in Part
Ⅵ
.
Attach to Form 990.
Go to
www.irs.gov/Form990
for instructions and the latest information.
OMB No. 1545-0047
20
22
Open to Public
Inspection
Name of the organization
MAYO CLINIC
Employer identification number
41-6011702
Part
Ⅰ
Bond Issues
(a)
Issuer name
(b)
Issuer EIN
(c)
CUSIP #
(d)
Date issued
(e)
Issue price
(f)
Description of purpose
(g)
Defeased
(h)
On
behalf of
issuer
(i)
Pool
financing
Yes
No
Yes
No
Yes
No
A
CITY OF ROCHESTER MINNESOTA
41-6005494
771902FE8
04-10-2008
330,000,000
CONSTRUCTION OF HEALTH CARE FACILITIES & REFUND 1998 BONDS
X
X
X
B
CITY OF ROCHESTER MINNESOTA
41-6005494
771902GA5
05-05-2011
293,208,150
REFUND 1992 AND 2001 BONDS
X
X
X
C
CITY OF ROCHESTER MINNESOTA
41-6005494
771902GW7
05-08-2014
120,000,000
CONSTRUCTION OF HEALTH CARE FACILITIES
X
X
X
D
CITY OF ROCHESTER MINNESOTA
41-6005494
771902GB3
12-31-2015
494,267
CONSTRUCTION OF HEALTH CARE FACILITIES
X
X
X
Part
Ⅱ
Proceeds
A
B
C
D
1
Amount of bonds retired
..................
130,000,000
135,494,267
2
Amount of bonds legally defeased
..............
3
Total proceeds of issue
..................
325,948,187
293,208,150
120,012,445
494,267
4
Gross proceeds in reserve funds
.............
5
Capitalized interest from proceeds
.............
8,864,264
310,855
6
Proceeds in refunding escrows
...............
7
Issuance costs from proceeds
...............
2,230,808
2,088,829
400,343
8
Credit enhancement from proceeds
.............
9
Working capital expenditures from proceeds
.............
10
Capital expenditures from proceeds
.............
87,603,115
119,301,247
11
Other spent proceeds
.............
227,250,000
291,119,321
494,267
12
Other unspent proceeds
.............
13
Year of substantial completion
.............
2010
2011
2016
2016
Yes
No
Yes
No
Yes
No
Yes
No
14
Were the bonds issued as part of a current refunding issue of tax-exempt
bonds (or, if issued prior to 2020, a current refunding issue)?
........
X
X
X
X
15
Were the bonds issued as part of an advance refunding issue of taxable
bonds (or, if issued prior to 2020, an advance refunding issue)?
........
X
X
X
X
16
Has the final allocation of proceeds been made?
..........
X
X
X
X
17
Does the organization maintain adequate books and records to support the final allocation of proceeds?
..................
X
X
X
X
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50193E
Schedule K (Form 990) 2022
Page 2
Schedule K (Form 990) 2022
Page
2
Part
Ⅲ
Private Business Use
A
B
C
D
Yes
No
Yes
No
Yes
No
Yes
No
1
Was the organization a partner in a partnership, or a member of an LLC, which owned property financed by tax-exempt bonds?
.............
X
X
2
Are there any lease arrangements that may result in private business use of bond-financed property?
...............
X
X
3a
Are there any management or service contracts that may result in private business use of bond-financed property?
.............
X
X
b
If "Yes" to line 3a, does the organization routinely engage bond counsel or other outside counsel to review any management or service contracts relating to the financed property?
c
Are there any research agreements that may result in private business use of bond-financed property?
.............
X
X
d
If "Yes" to line 3c, does the organization routinely engage bond counsel or other outside counsel to review any research agreements relating to the financed property?
4
Enter the percentage of financed property used in a private business use by entities other than a section 501(c)(3) organization or a state or local government
....
1.020 %
0 %
5
Enter the percentage of financed property used in a private business use as a result of unrelated trade or business activity carried on by your organization, another section 501(c)(3) organization, or a state or local government
.........
0.020 %
0 %
6
Total of lines 4 and 5
.............
1.040 %
0 %
7
Does the bond issue meet the private security or payment test?
...
X
X
8a
Has there been a sale or disposition of any of the bond-financed property to a nongovernmental person other than a 501(c)(3) organization since the bonds were
issued?
.............
X
X
b
If "Yes" to line 8a, enter the percentage of bond-financed property sold or disposed of.
..
c
If "Yes" to line 8a, was any remedial action taken pursuant to Regulations sections 1.141-12 and 1.145-2?
.............
9
Has the organization established written procedures to ensure that all nonqualified bonds of the issue are remediated in accordance with the requirements under
Regulations sections 1.141-12 and 1.145-2?
........
X
X
Part
Ⅳ
Arbitrage
A
B
C
D
Yes
No
Yes
No
Yes
No
Yes
No
1
Has the issuer filed Form 8038-T, Arbitrage Rebate, Yield Reduction and Penalty in Lieu of Arbitrage Rebate?
...
X
X
X
X
2
If "No" to line 1, did the following apply?
....
a
Rebate not due yet?
.......
X
X
X
X
b
Exception to rebate?
........
X
X
X
X
c
No rebate due?
.........
X
X
X
X
If "Yes" to line 2c, provide in Part
Ⅵ
the date the rebate
computation was performed
......
3
Is the bond issue a variable rate issue?
.....
X
X
X
X
Schedule K (Form 990) 2022
Page 3
Schedule K (Form 990) 2022
Page
3
Part
Ⅳ
Arbitrage
(Continued)
A
B
C
D
Yes
No
Yes
No
Yes
No
Yes
No
4a
Has the organization or the governmental issuer entered into a qualified hedge with respect to the bond issue?
X
X
X
X
b
Name of provider
..........
c
Term of hedge
.........
d
Was the hedge superintegrated?
......
e
Was the hedge terminated?
........
5a
Were gross proceeds invested in a guaranteed investment contract (GIC)?
X
X
X
X
b
Name of provider
..........
c
Term of GIC
.........
d
Was the regulatory safe harbor for establishing the fair market value of the GIC satisfied?
........
6
Were any gross proceeds invested beyond an available temporary period?
X
X
X
X
7
Has the organization established written procedures to monitor the requirements of section 148?
...
X
X
X
X
Part
Ⅴ
Procedures To Undertake Corrective Action
A
B
C
D
Yes
No
Yes
No
Yes
No
Yes
No
Has the organization established written procedures to ensure that violations of federal tax requirements are timely identified and corrected through the voluntary closing agreement program if self-remediation is not available under applicable regulations?
X
X
X
X
Part
Ⅵ
Supplemental Information.
Provide additional information for responses to questions on Schedule K. (See instructions).
Return Reference
Explanation
DATE REBATE COMPUTATION PERFORMED
ISSUER NAME: CITY OF ROCHESTER, MINNESOTA DATE THE REBATE COMPUTATION WAS PERFORMED: 03/05/2013 ISSUER NAME: CITY OF ROCHESTER, MINNESOTA DATE THE REBATE COMPUTATION WAS PERFORMED: 05/05/2016 ISSUER NAME: CITY OF ROCHESTER, MINNESOTA DATE THE REBATE COMPUTATION WAS PERFORMED: 05/08/2019 ISSUER NAME: CITY OF ROCHESTER, MINNESOTA DATE THE REBATE COMPUTATION WAS PERFORMED: 12/31/2020
SCHEDULE K, PART I, COLUMN (E) AND PART II, LINE 3
THE DIFFERENCE BETWEEN PART I, COLUMN (E) AND PART II, LINE 3 FOR THE BOND ISSUES ARE INVESTMENT EARNINGS OR LOSSES.
SCHEDULE K, PART IV, ARBITRAGE CALCULATIONS FOR 2015 BOND ISSUES
DURING 2015 PROPERTY THAT WAS FINANCED BY PREVIOUSLY ISSUED BONDS WAS SOLD. REMEDIAL ACTION WAS REQUIRED DUE TO THE SALE OF BOND-FINANCED PROPERTY WHICH RESULTED IN AN ALLOCABLE PORTION OF EACH OF THE PREVIOUSLY ISSUED BONDS TO BE TREATED AS HAVING BEEN REISSUED - RESULTING IN THE 2015 BOND ISSUES REFLECTED ON THIS SCHEDULE K. THE TRANSFERRED/SALE PROCEEDS WERE DEEMED TO HAVE BEEN SPENT IMMEDIATELY TO RETIRE THE ALLOCABLE PORTIONS OF THE PREVIOUS BOND ISSUES. THE 2015 TRANSFERRED/SALE PROCEEDS WERE REDIRECTED TO ANOTHER QUALIFYING PROJECT ALREADY COMPLETED RESULTING IN ZERO INVESTMENT EARNINGS FOR PURPOSES OF THE ARBITRAGE CALCULATIONS. SINCE THERE WERE NO INVESTMENT EARNINGS RELATED TO THE PROCEEDS, WE HAVE INDICATED FOR PART IV (ARBITRAGE), LINE 2C THAT NO REBATE WAS DUE AS OF DECEMBER 31, 2020.
Schedule K (Form 990) 2022
Additional Data
Software ID:
Software Version: