Public Notices
PUBLIC NOTICE: LOUISIANA PUBLIC FACILITIES AUTHORITY REVENUE BONDS (ELEMENTUS MINERALS PROJECT) $850,000,000
September 25, 2023
NOTICE OF PUBLIC HEARING
NOT EXCEEDING $850,000,000
LOUISIANA PUBLIC FACILITIES AUTHORITY
REVENUE BONDS
(ELEMENTUS MINERALS PROJECT)
SERIES 2023
NOTICE IS HEREBY GIVEN that the Louisiana Public Facilities Authority (the “Authority”) will hold a public hearing on October 3, 2023, at ten-thirty (10:30) a.m. at the offices of the Authority, 2237 South Acadian Thruway, Suite 650, Baton Rouge, Louisiana, with respect to the captioned revenue bonds (the “Bonds”). The Authority proposes to issue the Bonds in one or more series pursuant to a plan of finance in an amount not to exceed $850,000,000, and the proceeds of the Bonds will be loaned by the Authority to ElementUS Minerals, LLC, a Delaware limited liability company qualified to do business in the State of Louisiana (the “Company”), for the purpose of (i) constructing, acquiring and equipping or one or more bauxite residue reclamation and/or separation facilities (the “Project”) as solid waste facilities pursuant to Section 142(a)(6) of the Internal Revenue Code of 1986 (the “Code”); (ii) funding reserve funds as necessary; (iii) paying capitalized interest; and (iv) paying costs of issuance of the Bonds.
The Project will be located at one or more of the following addresses: (i) on approximately one hundred (100) acres of land in Sorrento, Louisiana in Ascension Parish, Louisiana (41237 Hwy 22 Sorrento, LA 70778), and/or (ii) on approximately one hundred (100) acres of land in Gramercy, Louisiana in St. James Parish, Louisiana and/or St. John the Baptist Parish, Louisiana (1111 E. Airline Highway, Gramercy, LA 70052), and/or (iii) on up to 130 acres at the Port of South Louisiana in St. John the Baptist Parish, Louisiana (located between West 10th Street and Rosenwald Street, south of Power Blvd in Reserve, LA 70084). The initial legal owner and/or principal user of the Project is the Company. The total amount of Bond proceeds actually issued could be spent any of the three listed sites but more likely will be spent at multiple sites.
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 Bonds and the financing of the Project. All interested parties are invited to attend such public hearing to express their views. Questions or requests for additional information may be directed to Foley & Judell, L.L.P., Attorneys and Counsellors at Law, One Canal Place, Suite 2600, 365 Canal Street, New Orleans, Louisiana 70130 (504) 568-1249.
Persons who intend to appear at the hearing and express their view are invited to contact Patricia A. Dubroc, President and Chief Executive Officer of the Authority, at the Authority’s offices, either in writing or by telephone (225) 923-0020, in advance of the hearing. Any interested persons unable to attend the hearing may submit their views in writing to Ms. Dubroc prior to the date scheduled for the hearing. The location and time of the hearing may be changed or an additional hearing will be scheduled if requested to do so in written requests submitted to Ms. Dubroc prior to the aforementioned date of the hearing by a significant number of interested persons.
The Bonds are secured solely by payments made by the Company, are not payable from any other revenue of the Authority or the State of Louisiana, and do not constitute an indebtedness of the Authority or the State of Louisiana, within the meaning of any constitutional or statutory limitation of indebtedness.
This notice is published and the aforementioned public hearing is to be held in satisfaction of the requirements of Section 147(f) of the Code, regarding the public approval prerequisite to the exclusion from gross income for federal income tax purposes of the interest on the Bonds.
LOUISIANA PUBLIC FACILITIES AUTHORITY
September 25, 2023