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
SchKMediumBullet Complete if the organization answered "Yes" to Form 990, Part Ⅵ, line 24a. Provide descriptions,
explanations, and any additional information in Part Ⅵ.
SchKMediumBullet Attach to Form 990.
SchKMediumBulletGo to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
2021
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 771902GD9 04-04-2012 192,662,250 CONSTRUCTION OF HEALTH CARE FACILITIES   X   X   X
D CITY OF ROCHESTER MINNESOTA
  		41-6005494 771902GW7 05-08-2014 120,000,000 CONSTRUCTION OF HEALTH CARE FACILITIES   X   X   X
CITY OF ROCHESTER MINNESOTA
  		41-6005494 771902GB3 12-31-2015 494,267 CONSTRUCTION OF HEALTH CARE FACILITIES   X   X   X
CITY OF ROCHESTER MINNESOTA
  		41-6005494 771902GD9 12-31-2015 44,266,950 CONSTRUCTION OF HEALTH CARE FACILITIES   X   X   X
CITY OF ROCHESTER MINNESOTA
  		41-6005494 771902GY3 05-03-2016 75,000,000 REFUND 2006 BONDS   X   X   X
CITY OF ROCHESTER MINNESOTA
  		41-6005494 771902HE6 10-13-2016 293,825,280 REFUND 2000 BONDS   X   X   X
CITY OF ROCHESTER MINNESOTA
  		41-6005494 771902HF3 10-15-2018 200,152,000 CONSTRUCTION OF HEALTH CARE FACILITIES   X   X   X
CITY OF ROCHESTER MINNESOTA
  		41-6005494 000000000 05-15-2020 130,000,000 REFUND 2008 BONDS   X   X   X
Part Ⅱ
Proceeds
A B C D
1 Amount of bonds retired .................. 130,000,000 135,494,267 44,266,950  
2 Amount of bonds legally defeased ..............        
3 Total proceeds of issue .................. 325,948,187 293,208,150 195,311,300 120,012,445
4 Gross proceeds in reserve funds .............        
5 Capitalized interest from proceeds ............. 8,864,264   12,134,007 310,855
6 Proceeds in refunding escrows ...............        
7 Issuance costs from proceeds ............... 2,230,808 2,088,829 1,523,766 400,343
8 Credit enhancement from proceeds .............        
9 Working capital expenditures from proceeds .............        
10 Capital expenditures from proceeds ............. 87,603,115   181,653,527 119,301,247
11 Other spent proceeds ............. 227,250,000 291,119,321 75,000,000 290,000,000
12 Other unspent proceeds .............        
13 Year of substantial completion ............. 2010 2011 2013 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) 2021

Schedule K (Form 990) 2021
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   X    
2 Are there any lease arrangements that may result in private business use of bond-financed property? ...............   X   X   X    
3a Are there any management or service contracts that may result in private business use of bond-financed property? .............   X   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 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?       X   X    
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 ....SchKMediumBullet 0 % 1.020 % 0.090 %  
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 ......... SchKMediumBullet 0.010 % 0.020 % 0.250 %  
6 Total of lines 4 and 5 ............. 0.010 % 1.040 % 0.340 %  
7 Does the bond issue meet the private security or payment test? ...   X   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   X    
b If "Yes" to line 8a, enter the percentage of bond-financed property sold or disposed of. .. 24.000 %      
c If "Yes" to line 8a, was any remedial action taken pursuant to Regulations sections 1.141-12 and 1.145-2? ............. X              
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   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) 2021

Schedule K (Form 990) 2021
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: 11/15/2016 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 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) 2021

Additional Data


Software ID:  
Software Version: