tefra notices

For certain types of private activity bonds, a public hearing (sometimes referred to as a “TEFRA hearing”) is mandated by the IRS to provide a reasonable opportunity for interested individuals to express their views, either orally or in writing, on the issuance of bonds and the nature of the improvements and projects for which the bond funds will be allocated. Please consult your tax lawyer should you have any questions regarding the requirements to satisfy the mandate of Section 147(f) of the Internal Revenue Code of 1986, as amended.

NOTICES OF UPCOMING
PUBLIC HEARINGS

*if no information is listed below, then there are no public hearings currently scheduled.

Thursday, September 16, 2021 at 11:00 AM

Brief Summary:  Notice of Public Hearing regarding the proposed issuance by the Arizona Industrial Development Authority, in one or more series, of its tax-exempt and/or taxable revenue notes, bonds or other obligations, pursuant to a plan of financing in an aggregate principal amount not to exceed $220,000,000, the proceeds of which will be loaned to Equitable School Revolving Fund, LLC, a Delaware limited liability company, the sole member of which is Equitable Facilities Fund, Inc., a Delaware nonstock, nonprofit corporation described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended, in order to pay all or a portion of the costs: (a) to finance, reimburse and/or refinance, as applicable, the cost of loans made or to be made to qualifying public charter schools or their affiliates for the purpose of financing or refinancing certain costs of the acquisition, construction, improvement, equipping and furnishing of certain education facilities located in Phoenix, Arizona, Little Rock, Arkansas, Springdale, Arkansas, Jacksonville, Florida, Lake Worth, Florida, Loxahatchee, Florida, Indianapolis, Indiana, Baton Rouge, Louisiana, Newark, New Jersey, Albuquerque, New Mexico, Brooklyn, New York, Tulsa, Oklahoma, Central Falls, Rhode Island, Cranston, Rhode Island, Cumberland, Rhode Island, Lincoln, Rhode Island, Providence, Rhode Island, Memphis, Tennessee, Nashville, Tennessee, Austin, Texas, and San Antonio, Texas, and certain other loans to certain other qualifying public charter schools or their affiliates not yet originated for which additional post-issuance public approval will be obtained pursuant to Section 1.147(f)-1(f)(5) of the Treasury Regulations.

Thursday, September 16, 2021 at 11:00 AM

Brief Summary:  Notice of Public Hearing regarding the proposed issuance by the Arizona Industrial Development Authority (the “Issuer”) of its 501(c)(3) revenue notes, bonds or other obligations, in one or more series (the “Debt Obligations”), pursuant to a plan of financing in an aggregate principal amount not to exceed $52,000,000, the proceeds of which will be loaned to Kingman Healthcare, Inc. (the “Borrower”), an Arizona nonprofit corporation, in order to pay all or a portion of the capital costs to finance, refinance and reimburse costs of acquiring, equipping, installing, expanding and renovating medical, clinical, information technology and various medical, hospital and healthcare equipment, furniture, fixtures and related working capital expenditures together with related costs of issuing the Debt Obligations (collectively, the “Project”) and to refinance all or a portion of the outstanding principal amount of certain debt obligations previously issued by the Issuer for the benefit of the Borrower.  The Borrower expects to allocate proceeds of the Debt Obligations to the Project as follows:  (1) approximately $30,000,000 at the Kingman Regional Medical Center Main Campus, 3269 Stockton Hill Road along the west side of Stockton Hill Road generally bounded by Sycamore Avenue to the north, Beverly Avenue to the south and Western Avenue to the west and encompassing the following additional addresses 1726 and 1739 Beverly Avenue and 1712 and 1740 Sycamore Avenue all in Kingman, Arizona 86409 ; (2) approximately $1,000,000 at 3939 Stockton Hill Road, Kingman, Arizona 86409; (3) approximately $1,000,000 at 2202 Stockton Hill Road, Kingman Arizona 86401; (4) approximately $1,000,000 at 3104 Stockton Hill Road, Kingman, Arizona 86401; (5) approximately $1,000,000 at 3116 Stockton Hill Road, Kingman, Arizona 86401; (6) approximately $10,000,000 at 3801 Santa Rosa Drive, Kingman, Arizona 86401; (7) approximately $1,000,000 at 2226 Hualapai Mountain Road, Kingman, Arizona 86401; (8) approximately $1,000,000 at 2110 Airway Avenue, Kingman, Arizona 86409; (9) approximately $1,000,000 at 1033 Sycamore Avenue, Kingman, Arizona 86409, and (10) approximately $1,000,000 at 4995 West Highway 68, Golden Valley, Arizona 86413.  

Thursday, September 16, 2021 at 11:00 AM

Brief Summary:  Notice of Public Hearing regarding the proposed issuance by the Arizona Industrial Development Authority in one or more series of its tax-exempt and/or taxable revenue notes, bonds or other obligations, pursuant to a plan of financing in an aggregate principal amount not to exceed $14,500,000 (the “Bonds”), the proceeds of which will be loaned to Calibre Academy, Inc., an Arizona nonprofit corporation (the “Borrower”) and an organization described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended (the “Code”), in order to refund the $16,500,000 aggregate outstanding principal amount of the Education Revenue Refunding Bonds (Carden Traditional Schools Project), Series 2012 issued by The Industrial Development Authority of the County of Pima for the benefit of the Borrower to finance and refinance, among other things, the costs of acquiring, constructing, improving and equipping (a) school facilities, comprised of approximately 75,000 square feet of space in ten one- and two-story buildings, parking areas, playgrounds and sports fields, and related amenities on approximately 19 acres of land located at 15688 West Acoma Road, Surprise, Arizona (collectively, the “Surprise Campus”), and (b) school facilities, comprised of approximately 26,000 square feet of space in two one-story buildings, parking area, playground and open grass area, basketball court, and related amenities on approximately three acres of located at 4744 West Grovers Avenue, Glendale, Arizona (collectively, the “Glendale Campus” and, together with the Surprise Campus, the “Facilities”) (including amounts, if any, to fund required reserve funds, pay capitalized interest on a portion of the Bonds, pay operating expenses relating to the Facilities, and pay the costs of issuance of the Bonds).  The Facilities refinanced with the proceeds of the Bonds will be owned by the Borrower and operated by, with respect to the Surprise Campus, the Borrower and, with respect to the Glendale Campus, ThrivePoint High School, Inc., an affiliated Arizona nonprofit corporation and an organization described in the Code, or the Borrower in connection with their respective school operations.