25583185 - Florida Administrative Rules, Law, Code, Register

Florida Department of State and Division of Library and Information Services


Notice: 25583185
Notice of Meeting/Workshop Hearing

Division:	Higher Educational Facilities Financing Authority


Overview



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

DATE AND TIME:	Monday, February 28, 2022, 11:00 a.m. (Eastern)

PLACE:	In the offices of the Higher Educational Facilities Financing Authority, 542 E Park Avenue, Tallahassee, Florida

Subject:	Notice is hereby given that a public hearing will be held by the Higher Educational Facilities Financing Authority (the “Authority”), on February 28, 2022, at 11:00 a.m. or as soon thereafter as practical, in the offices of the Authority, at 542 East Park Avenue, Tallahassee, Florida, for the purpose of receiving comments and hearing discussion concerning a plan of finance involving the issuance by the Authority of not to exceed $55,000,000 in aggregate principal amount of its Higher Educational Facilities Financing Authority Revenue and Revenue Refunding Bonds, Series 2022 (St. Thomas University Project) (the “Series 2022 Bonds”), in one or more series from time to time, the proceeds of which will be loaned by the Authority to St. Thomas University, Inc. (the "Borrower"), and applied by the Borrower to (i) refund the Authority’s Higher Educational Facilities Financing Authority Revenue Bonds, Series 2009 (St. Thomas University Project) (the “Series 2009 Bonds”), (ii) refinance the Borrower’s obligations under a bank loan from Fifth Third Bank (the “2019 Loan”), (iii) pay the purchase option price to acquire certain facilities that are currently subject to a long-term capital lease between the Borrower and UHS-St. Thomas I, LLC (the “Capital Lease Buyout”), (iv) finance the cost of certain capital improvements to the Borrower’s educational facilities, including, without limitation, improvements to the Borrower’s academic and athletic facilities in an amount of approximately $15,000,000 (the “New Money Project”), and (v) pay all or a portion of the costs of issuance of the Series 2022 Bonds. The proceeds of the Series 2009 Bonds were used to refinance the cost of acquisition, construction and equipping of certain capital improvements to the educational facilities owned by the Borrower, including, without limitation, to reimburse the Borrower for expenditures advanced for such capital improvements; the proceeds of the 2019 Loan were used to finance construction of and improvements to the Borrower’s Gus Machado College of Business; and the facilities to be acquired through the Capital Lease Buyout consist of a 102-bed student dormitory (collectively, the “Refinanced Projects”). The Series 2022 Bonds are expected to be issued as qualified 501(c)(3) bonds as defined in Section 145 of the Internal Revenue Code of 1986, as amended (the “Code”). The New Money Project and the Refinanced Projects are or will be owned by the Borrower and are situated at the Borrower’s sole campus located at 16401 N.W. 37th Avenue, Miami Gardens, Florida 33054. The Authority shall not be obligated to pay the Series 2022 Bonds except from the proceeds derived from the repayment of a loan to the Borrower and neither the faith and credit nor the taxing power of the Authority, the State or any political subdivision thereof shall be pledged to the payment of the principal of or the interest, or premium, if any, on the Series 2022 Bonds. The Authority has no taxing power. The Borrower has supplied the information in this Notice regarding the use of proceeds of the Series 2022 Bonds and the facilities being financed or refinanced therewith. All interested or affected taxpayers, property owners and citizens are invited to attend this public hearing in person, at the Authority’s offices located at the address specified below, or via teleconference, dial 1(800) 719-7514 (toll-free) and when prompted enter the conference code: 596984, and, either personally or through their representatives, will be given an opportunity to express their views concerning the proposed project and the issuance of the proposed bonds. Anyone desiring to make written comments may file them with the Authority, 542 East Park Avenue, Tallahassee, Florida 33201, Attention: Secretary. Comments made at the hearing are for the consideration of the Authority and will not bind the Authority to any action it may or may not take. In accordance with the Americans with Disabilities Act, persons needing a special accommodation to participate in this proceeding should contact the Authority no later than five days prior to the proceeding at the address given in this notice. Telephone: (850) 681-3188 x 201. SHOULD ANY PERSON DECIDE TO APPEAL ANY DECISION MADE BY THE AUTHORITY WITH RESPECT TO ANY MATTER CONSIDERED AT SUCH HEARING, SUCH PERSON WILL NEED A RECORD OF THE PROCEEDINGS AND, FOR THAT PURPOSE, SUCH PERSON MAY NEED TO ENSURE THAT A VERBATIM RECORD OF THE PROCEEDINGS IS MADE, WHICH RECORD INCLUDES THE TESTIMONY AND EVIDENCE UPON WHICH THE APPEAL IS TO BE BASED. This notice is given pursuant to Section 147(f) of the Code.


	A copy of the agenda may be obtained by contacting: Danie Griffin-Turner, Administrative Director, 850-681-3188 Ext 201.

PRINT PUBLISH DATE:	2/21/2022 Vol. 48/35


REFERENCE MATERIALS:	No reference(s).

Under Florida law, E-mail addresses are public records. If you do not want your E-mail address released in response to a public records request, do not send electronic mail to this entity. Instead, contact this office by phone or in writing.

Overview