A. For the purpose of Section 147(f) of the Internal Revenue Code of 1986, as amended (the "Code"), notice is hereby given that the Higher Educational Facilities Financing Authority (the "Authority") will hold a public meeting and hearing on ...

 

OTHER AGENCIES AND ORGANIZATIONS

Independent Colleges and Universities of Florida

The Florida Higher Educational Facilities Financing Authority announces a public meeting to which all persons are invited.

DATE AND TIME: Wednesday, June 22, 2016, 12:00 Noon – 1:00 p.m.

PLACE: The Offices of: The Independent Colleges and Universities of Florida, 542 East Park Avenue, Tallahassee, Florida 32301 and by teleconference at 1(866)578-5716 Conference Code: 6813188

GENERAL SUBJECT MATTER TO BE CONSIDERED: A. For the purpose of Section 147(f) of the Internal Revenue Code of 1986, as amended (the “Code”), notice is hereby given that the Higher Educational Facilities Financing Authority (the “Authority”) will hold a public meeting and hearing on Wednesday, June 22, 2016 at Noon or as soon thereafter as practicable, at the Offices of the Independent Colleges and Universities of Florida, 542 East Park Avenue, Tallahassee, Florida 32301, or by teleconference at 1(866)578-5716, to consider adoption of a resolution authorizing the issuance by the Authority of not to exceed $34,000,000 initial aggregate principal amount of its Higher Educational Facilities Financing Authority Revenue Bonds (Flagler College, Inc. Project) in one or more series (the “Bonds”) the proceeds of which will be loaned to Flagler College, Inc. (“Flagler College”).

Approximately $18,000,000 of the loan proceeds will be allocated for the purposes of refunding all or a portion of the outstanding Higher Educational Facilities Financing Authority Revenue Bonds, Series 2006 (Flagler College Project) the proceeds of which were used to finance certain capital improvements to the Flagler College campus located in Saint Augustine, Florida, including, without limitation, (i) the acquisition and renovation of three three-story buildings containing approximately 64,000 square feet and the site therefore containing approximately 4.44 acres, and the construction of one or more additional buildings on such site, to be used for classrooms, faculty offices, administrative offices and/or student housing, located at 1 Malaga Street, St. Augustine, Florida (the “Malaga Site”), and the acquisition and installation of related fixtures, furnishings and equipment, and (ii) the acquisition, construction and installation of certain other capital projects in accordance with the capital improvement program of the Flagler College, located on the campus of the Flagler College, the main address of which is 74 King Street in St. Augustine, Florida 32804, all owned or to be owned and operated by the Flagler College.

Approximately $16,000,000 of the loan proceeds will be allocated for the purposes of partially funding projects on the campus of Flagler College including construction of a student residence building located at 1 Malaga Street, St. Augustine, Florida, 32084 consisting of a 52,800 square foot three story residence hall with 148 single bedrooms, nine student lounges/study rooms and three laundry rooms. Construction of a 13,728 square foot, two story commons building will connect the FEC Building C to the new residence located at 1 Malaga Street, St. Augustine, Florida 32084. This building will have a convenience store and a grill, fitness room, multipurpose area, student lounges, and offices. Construction of a new five-level parking garage which will have approximately 551 parking spaces to be located at 1 Malaga Street. Certain other renovations to residence halls, classrooms, the library, upgrading the HVAC system and roofing projects, all at the main address of the campus which is 74 King Street, St. Augustine, Florida 32804. Renovations to Anderson Cottage located at 48 Sevilla Street, St. Augustine, Florida 32804. All of the improvements financed or refinanced with proceeds of the Bonds (the “Project”) will be owned by Flagler College.

The Bonds shall be payable solely from the revenues derived by the Authority from a loan agreement and other financing documents between the Authority and Flagler College. Such Bonds and the interest thereon shall not constitute an indebtedness of the Authority within the meaning of any constitutional provision or limitation or pledge of the general credit or taxing power of the Authority, the State of Florida or any political subdivision or agency thereof. Issuance of the Bonds shall be subject to several conditions including satisfactory documentation, the approval by bond counsel as to the tax-exempt status of the interest on all or a portion of the Bonds and receipt of necessary approvals for the financing.

The aforementioned meeting and hearing will be conducted in a manner that provides a reasonable opportunity to be heard for persons with different views of both the issuance of the Bonds and the Project. Persons wishing to express their views may appear at the hearing or may submit their views in writing regarding the proposed issuance of the Bonds and the Project. Comments made at the hearing are for the consideration of the members of the Authority and will not bind any legal action to be taken by the Authority.

All persons for or against said approval can be heard at said time and place. If a person decides to appeal any decision made by the Authority with respect to such meeting, such person will need to ensure that a verbatim record of such hearing or meeting is made, which record includes the testimony and evidence upon which the appeal is based.

Subsequent to the public hearing, the Governor of Florida will be required to approve the Bonds, in accordance with Section 147(f) of the Code, prior to issuance thereof by the Authority.

B. Any other matters that may come before the Authority.

A copy of the agenda may be obtained by contacting: Melissa Armstrong, Independent Colleges and Universities of Florida, 542 East Park Avenue, Tallahassee, Florida 32301, [phone].

Pursuant to the provisions of the Americans with Disabilities Act, any person requiring special accommodations to participate in this workshop/meeting is asked to advise the agency at least 5 days before the workshop/meeting by contacting: Melissa Armstrong, Independent Colleges and Universities of Florida, 542 East Park Avenue, Tallahassee, Florida 32301, [phone]. If you are hearing or speech impaired, please contact the agency using the Florida Relay Service, 1(800)955-8771 (TDD) or 1(800)955-8770 (Voice).

For more information, you may contact: Melissa Armstrong, Independent Colleges and Universities of Florida, 542 East Park Avenue, Tallahassee, Florida 32301, [phone].