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Notice of Public Hearing Notice IS Hereby Given
NOTICE OF PUBLIC HEARING NOTICE IS HEREBY GIVEN that on Monday, November 25, 2024, a public hearing as required by Section 147(f) of the Internal Revenue Code of 1986, as amended (the "Code") and the provisions of Section 66.0301, 66.0303 and 66.0304 of the Wisconsin Statutes, as amended (the "Act") and an Amended and Restated Joint Exercise of Powers Agreement Relating to the Public Finance Authority, dated as of September 28, 2010, will be conducted on behalf of Cobb County, Georgia with respect to the proposed issuance by the Public Finance Authority (the "Authority"), a commission organized under and pursuant to the provisions of the Act, of the Authority's Student Housing Revenue Bonds (KSU Bixby Real Estate Foundation, LLC Project) Series 2025, to be issued in one or more series and in the aggregate principal amount not to exceed $115,000,000 (the "Bonds"). The Public Hearing will be conducted as described below to provide a reasonable opportunity for interested individuals to express their views, orally or in writing, on the proposed issuance of the Bonds and the location and nature of the proposed facilities to be financed. The Bonds are expected to be issued pursuant to Section 66.0304 of the Wisconsin Statutes, as amended, and the proceeds from the sale of the Bonds will be lent to KSU Bixby Real Estate Foundation, LLC (the "Borrower"), a Georgia limited liability company whose sole member is Kennesaw State University Foundation, a Georgia nonprofit corporation and an organization described in Code Section 501(c)(3). The proceeds of the Bonds will be lent to the Borrower for the purpose of (i) financing or refinancing, including through reimbursement, the cost of acquisition of the Bixby Kennesaw, a student housing facility, including a parking deck and other improvements (the "Project"), (ii) funding any necessary reserves, (iii) paying bond insurance premiums, (iv) funding a debt service reserve or paying the premium for a debt service reserve insurance policy, and (v) paying certain costs of issuance associated with the financing. The Project is located at 3061 George Busby Parkway, NW, Kennesaw, Georgia 30144 and will be owned and operated by the Borrower. THE BONDS WILL NEVER CONSTITUTE AN INDEBTEDNESS OF OR GENERAL OBLIGATION OF COBB COUNTY, GEORGIA, BUT WILL BE SPECIAL LIMITED OBLIGATIONS OF THE AUTHORITY PAYABLE SOLELY FROM THE LOAN PAYMENTS TO BE MADE BY THE BORROWER TO THE AUTHORITY AND CERTAIN FUNDS AND ACCOUNTS ESTABLISHED BY THE INDENTURE FOR THE BONDS. The hearing will commence at 9:30 a.m., November 25, 2024, or as soon thereafter as the matter can be heard. The public hearing will be held via teleconference in accordance with Revenue Procedure 2022-20 issued by the Internal Revenue Service and will be accessible to residents of Cobb County, Georgia, the approving governmental unit, by calling the following toll-free telephone number. The public is invited to join by dialing 1-877-853-5257 (Passcode: 429 316 4627#). Interested persons wishing to express their views on the issuance of the Bonds or on the nature or location of the Project proposed to be financed may join the public hearing by telephone and prior to the time of the hearing, may submit written comments to the hearing officer, Jerry G. Peterson, Butler Snow LLP, 1170 Peachtree Street, NE, Suite 1900, Atlanta, Georgia 30309. The public hearing will continue for so long as interested persons are expressing their views on the issuance of the Bonds or on the nature or location of the Project proposed to be financed, following which time the public hearing will be closed. 11-18-24
November 18, 2024
November 25, 2024
November 18, 2024 8:10pm