Notice of Public Hearing to be Held on December 18, 2023

NOTICE OF PUBLIC HEARING

 

NOTICE IS HEREBY GIVEN that a public hearing will be conducted by the Rhode Island Health and Educational Building Corporation (the “Corporation”) on Monday, December 18, 2023 at 1:00 p.m. via telephonic conference.  The public hearing will be held via teleconference line in lieu of physical presence at the public hearing.  Members of the public may use the dial-in information provided at the end of this notice to access the hearing.

The purpose of the public hearing is to consider the proposal of Child and Family Services of Newport County, a Rhode Island nonprofit corporation (the “Institution”), that the Corporation issue its Health and Educational Facilities Revenue Bonds, Child and Family Services of Newport County Issue, Series 2024, in a maximum aggregate face amount not to exceed $3,700,000, in one or more series or sub-series of bonds (the “Series 2024 Bonds”), for the purposes of: (1) (A) refunding the Corporation’s Health and Educational Facilities Revenue Refunding Bonds (Child and Family Services of Newport County Issue – Series 2015) (the “Series 2015 Bonds”) that refinanced the Corporation’s Health and Educational Facilities Revenue Bonds (Child and Family Services of Newport County Issue - Series 2006), the proceeds of which were used to finance (i) the acquisition, design, construction, furnishing, equipping and landscaping of an approximately 35,000 square foot building located at 31 John Clarke Road in Middletown, Rhode Island to house the Institution’s administrative offices and child day care facilities, and (ii) refinancing and refunding existing indebtedness and retiring existing related mortgage of the Institution for the acquisition, renovation, design, construction, repair, improvement, furnishing, equipping and/or landscaping of an approximately 4,440 square foot group home located at 120 Girard Avenue in Newport, Rhode Island (together, the “Project”); and (B) the payment of certain expenses of issuance with respect to the Series 2015 Bonds; and (2) paying certain costs of issuance and other common costs with respect to the Series 2024 Bonds.

All of the foregoing assets and facilities at all of the above-referenced locations listed above are used by the Institution in an integrated operation to provide social services to the populations served by the Institution.

The owner and/or operator of the assets comprising the Project will be the Institution.  Neither the State of Rhode Island nor the Corporation is obligated to pay the principal or redemption price of or interest or premium on the Series 2024 Bonds, and neither the faith and credit nor the taxing power of the State of Rhode Island or of any municipality or political subdivision thereof is pledged to the payment of the Series 2024 Bonds.  The Corporation does not have taxing power.

Interested members of the public are invited to participate in the hearing and to offer comments and ask questions with regard to the issuance of the above-referenced Series 2024 Bonds and the locations and nature of the Project to be financed and refinanced by using the following toll free call-in number:

Dial-in:                       (866) 528-2256 (toll free)

Participant Code:       5962298#

Those requesting interpretative service for the hearing impaired must notify the Corporation at (401) 831-3770 forty-eight (48) hours in advance of this meeting.

 

Channavy Chhay

Interim Executive Director

Rhode Island Health and Educational Building Corporation