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.

Friday, June 24, 2022 at 11:15 AM MST

Brief Summary:  Notice of Public Hearing regarding the proposed issuance by the Arizona Industrial Development Authority in one tax-exempt series of its tax-exempt revenue notes, bonds or other obligations, pursuant to a plan of financing in an aggregate principal amount not to exceed $4,500,000 (the “Bonds”), the proceeds of which will be loaned to ACCEL, an Arizona nonprofit corporation and an organization described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended (the “Borrower”), in order to pay all or a portion of the costs of financing or refinancing the costs of acquisition, construction, improvement, and equipping of land and facilities located at 5301 S. McClintock Drive, Tempe, Arizona 85283 (the “Facilities”).  On the date of issuance of the Bonds, the Facilities will be owned and/or operated by the Borrower. 

Friday, June 24, 2022 at 11:30 AM MST

Brief Summary:  Notice of Public Hearing regarding the proposed issuance by the Arizona Industrial Development Authority in one tax-exempt series of its tax-exempt revenue notes, bonds or other obligations, pursuant to a plan of financing in an aggregate principal amount not to exceed $47,000,000, the proceeds of which will be loaned to Bethany Glen Community Partners 2, Limited Partnership (the “Borrower”), a California limited partnership, in order to pay the costs of the acquisition, construction, development, renovation, rehabilitation, improvement, equipping and/or operating of a qualified residential rental facility (including improvements and facilities functionally related thereto), which is expected to consist of 150 residential units (a portion of which will be set aside for occupancy by low- to moderate-income tenants) and one manager’s unit situated on approximately 9.05 acres of real property generally located at 4788 W. Bethany Home Road, Glendale, Arizona 85301 (the “Facilities”).  The Facilities will be owned and operated by the Borrower.