Public Notices
NOTICE OF PUBLIC HEARING: LOUISIANA PUBLIC FACILITIES AUTHORITY REVENUE REFUNDING BONDS (UNIVERSITY OF NEW ORLEANS RESEARCH AND TECHNOLOGY FOUNDATION, INC. PROJECT) $40,000,000
July 31, 2024
NOT TO EXCEED $40,000,000
LOUISIANA PUBLIC FACILITIES AUTHORITY
REVENUE REFUNDING BONDS
(UNIVERSITY OF NEW ORLEANS RESEARCH AND
TECHNOLOGY FOUNDATION, INC. PROJECT)
IN ONE OR MORE SERIES
NOTICE OF PUBLIC HEARING
Notice is hereby given that the Louisiana Public Facilities Authority (the “Authority”) will conduct and hold a public hearing at the office of the Authority, 2237 South Acadian Thruway, Suite 650, Baton Rouge, Louisiana 70808 on Wednesday, August 14, 2024 at 11:00 a.m. to hear any objections to the issuance, sale and delivery of its not to exceed $40,000,000 Revenue Refunding Bonds (University of New Orleans Research and Technology Foundation, Inc. Project) in one or more series (the “Refunding Bonds”).
The Refunding Bonds are being issued by the Authority as qualified 501(c)(3) bonds for the purpose of providing funds to University of New Orleans Research and Technology Foundation, Inc., a non-profit corporation (the “Foundation”) to refund all of the $36,000,000 Revenue Refunding Bonds (University of New Orleans Research and Technology Foundation, Inc. – Student Housing Project) Series 2014 (the “Series 2014 Bonds”). The proceeds of the Series 2014 Bonds were provided to the Foundation for the purpose of refunding all of the $38,500,000 Revenue Bonds (University of New Orleans Research and Technology Foundation, Inc. – Student Housing Project) Series 2006 (the “Series 2006 Bonds”). The proceeds of the Series 2006 Bonds were provided to the Foundation for the purpose of financing the planning, design, construction, furnishing and equipping of residence facilities for use by the University of New Orleans (the “University”), including all equipment, furnishings, fixtures and facilities incidental or necessary in connection therewith (the “Facilities”), which Facilities are owned by the Foundation and leased to the University. The Facilities are located on the campus of the University, 2000 Lakeshore Drive New Orleans, Louisiana 70148.
The Refunding Bonds will be secured by payments under a loan agreement or similar financing agreement to be entered into by the Foundation on behalf of the University, which payments are payable by the Foundation from lease revenues received by the Foundation from the Board of Supervisors for the University of Louisiana System, acting on behalf of the University, which are payable from legally available funds of the University. The Payments will be assigned and pledged to the Authority for payment of principal of and interest on the Refunding Bonds.
Following such public hearing, the Attorney General of the State of Louisiana will be asked to execute an approval certificate granting public approval to such proposed issuance of revenue bonds for the purpose of compliance with Section 147(f) of the Internal Revenue Code of 1986, as amended, and addressing relating matters.
Ms. Stacye Bradford, Bond Financing Coordinator of the Authority, shall conduct the Public Hearing for the purpose of receiving comments on and hearing any objections (verbal or written) to the proposed issuance of the Refunding Bonds. The public and interested parties are invited to attend or to submit written comments in advance of the Public Hearing to Ms. Bradford at the Authority’s office, either in writing at the address above or by telephone (225) 923-0020. Questions or requests for additional information may be directed to Jones Walker LLP, Attorneys at Law, 445 North Boulevard, Suite 800, Baton Rouge, Louisiana 70802, Attention: Public Finance.
LOUISIANA PUBLIC FACILITIES AUTHORITY
BY: /s/ Patricia A. Dubroc
Patricia A. Dubroc
President and Chief Executive Officer