Home  >  Classifieds  >  Announcements  >  Public & Legal Notices
Place an Ad with the Baltimore Sun!

Maryland Health And Higher

MARYLAND HEALTH AND HIGHER EDUCATIONAL FACILITIES AUTHORITY NOTICE OF PUBLIC HEARING CONCERNING ISSUANCE OF BONDS A public hearing will be held at 10:00 a.m. on Wednesday, June 27, 2018, at the offices of Maryland Health and Higher Educational Facilities Authority (the “Authority”), 401 East Pratt Street, Suite 1224, Baltimore, Maryland 21202 by the Authority for the proposed issuance of its revenue bonds, notes or other obligations (the “Bonds”), at one time or from time to time, pursuant to the Maryland Health and Higher Educational Facilities Authority Act. The purpose of the public hearing is to permit any person to testify orally or in writing concerning the issuance of the Bonds or the location and nature of the facilities to be financed or refinanced with the proceeds of the Bonds. The proceeds of the Bonds will be loaned by the Authority to Annapolis Life Care, Inc., a nonprofit Maryland corporation (the “Institution”), in order to finance or refinance the acquisition, construction, renovation or equipping of certain of its continuing care retirement community facilities, including (without limitation): (I) to finance the construction and equipping of a new 3-story, approximately 67,100 square-foot building containing approximately 20 new private assisted living units and approximately 15 private assisted living memory-care units (the “2018 Project”); and (II) to refinance the outstanding portion of the Authority’s Revenue Bond, Annapolis Life Care Issue (2014), the proceeds of which were loaned by the Authority to the Institution to refinance the outstanding portions of the Authority’s Revenue Bonds, Annapolis Life Care Issue, Series 2009A (the “Series 2009A Bonds”) and the Authority’s Revenue Bonds, Annapolis Life Care Issue, Series 2010 (the “Series 2010 Bonds”). The proceeds of the Series 2010 Bonds were used to refinance the Authority’s Revenue Bonds, Annapolis Life Care Issue, Series 2009B (Taxable) (the “Series 2009B Bonds”). The proceeds of the Series 2009A Bonds and the Series 2009B Bonds were used to refinance the Authority’s Revenue Bonds, Annapolis Life Care Issue, Series 2007 (the “Series 2007 Bonds”). The proceeds of the Series 2007 Bonds were used to finance and refinance the acquisition, construction, renovation and equipping of certain of the Institution’s continuing care retirement community facilities, including (without limitation): (a) demolition of the Fitness Center, which was a part of the Commons Building; (b) reconfiguration and renovation of the Health Center, which was located on the top floor of the Commons Building; (c) construction of a three-story addition containing approximately 65,600 square feet to the Commons Building to house fitness, recreational, educational, dining service and social facilities and expanded Health Center facilities; (d) renovation and reconfiguration of the first floor of the Commons Building; (e) installation of environmentally controlled data center and technology infrastructure and improvements; (f) replacement of the Common Building’s mechanical and electrical systems including, without limitation, heating, ventilation and air conditioning systems, emergency generator and cooling towers; and (g) refunding of the Authority’s Revenue Bonds, Annapolis Life Care Issue issued in 2004, the proceeds of which were used to refund previously issued bonds that financed the existing facilities of the Institution (collectively, the “2014 Project”). The 2018 Project and the 2014 Project may collectively be referred to herein as the “Project.” The Project may also include land or interests in land, buildings, structures, machinery, equipment, furnishings or other real or personal property located on the same sites as the Project. The Project is and will be located on the campus of the Institution at 4000 River Crescent Drive, Annapolis, Maryland 21401. The Institution is and will be the initial owner and operator of the Project. The maximum aggregate principal amount of the Bonds issued with respect to the Project will be $49,500,000. The Bonds will be issued pursuant to a plan of financing for the Project that may entail the financing or refinancing from time to time by the Bonds including the financing and refinancing of the Bonds. Because of the possible inclusion of original issue discount bonds (some of which may be capital appreciation bonds) the total amount of Bonds payable at maturity may exceed the initial stated principal amount of the Bonds. The public hearing will be held to meet the requirements imposed by Section 147(f) of the Internal Revenue Code to the extent applicable to the Bonds. For additional information or to submit written testimony, contact the Executive Director of the Authority at the address set forth above.

Additional Information

Posted:
1 week, 11 hours ago
Category:
Public & Legal Notices 

Browse Categories