Notice of Public Hearing to be held on February 16, 2022

By Jenn | February 9, 2022

Roger Williams University

NOTICE OF PUBLIC HEARING TO BE HELD BY THE RHODE ISLAND HEALTH AND EDUCATIONAL BUILDING CORPORATION CONCERNING THE FINANCING AND REFINANCING OF PROJECTS FOR ROGER WILLIAMS UNIVERSITY IN BRISTOL, RHODE ISLAND.

Notice is hereby given that the Rhode Island Health and Educational Building Corporation (the “Corporation”) will hold a public hearing on February 16, 2022 at 2 p.m.  In light of the COVID-19 pandemic, the public hearing will be held via teleconference in lieu of an in-person meeting in accordance with IRS Rev Proc. 2021-39. Persons wishing to participate in the hearing may attend the teleconference by using the toll-free telephone number and passcode listed below.  The public hearing will be held for the purpose of providing a reasonable opportunity for interested individuals to express their views, either orally or in writing on the following:

The purpose of the hearing will be to consider the proposal of Roger Williams University, a Rhode Island nonprofit corporation (the “Institution”), that the Corporation issue its tax-exempt revenue bonds in one or more series in a maximum aggregate face amount not to exceed $37,500,000 (the “Bonds”) for the benefit of the Institution consisting of the following:

  1. A maximum aggregate face amount not to exceed $28,800,000, the proceeds of which will be used by the Institution to (a) refund all or a portion of the Corporation’s Higher Education Facility Revenue Bonds, Roger Williams University Issue, Series 2008B (the “2008B Bonds”); (b) pay the termination payment with respect to a certain interest rate swap relating to the 2008B Bonds; and (c) finance the costs of issuance of the Bonds.  The proceeds of the 2008B Bonds were used to finance the following projects located on the Institution’s campus at One Old Ferry Road, Bristol, Rhode Island or adjacent and proximate locations (the “Campus”), (a) the construction, furnishing and equipping of a new 120,000 square foot residence hall, a new 52,000 square foot academic building and a new 10,000 square foot admissions building, (b) other capital improvements on Campus including but not limited to improvements, renovations, and equipping of existing buildings and facilities and (c) costs of issuance in connection with the 2008B Bonds; and
  2. $8,700,000, the proceeds of which will be used by the Institution to (a) refund all or a portion of the Corporation’s Higher Education Facility Revenue Bonds, Roger Williams University Issue, Series 2018 (the “2018 Bonds”) and (b) finance costs of issuance of the Bonds.  The proceeds of the 2018 Bonds were used to finance the following projects located on the Institution’s Campus, (a) the design, construction, equipping and furnishing of an approximately 28,000 square foot, three story engineering laboratory building; (b) renovations and repairs to a building known as “Wind Hill” located across the street from the Campus at 55 Old Ferry Road, Bristol, Rhode Island; (c) and costs of issuance in connection with the 2018 Bonds.

The owner and/or operator of the facilities to be financed or refinanced with the proceeds of the Bonds 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 on the Bonds and neither the faith and credit nor the taxing power of the State of Rhode Island or any municipality or political subdivision thereof is pledged to the payment of the Bonds. The Corporation does not have taxing power.

Interested persons are invited to offer comments and ask questions with regard to the issuance of the above-referenced Bonds and the location and nature of the facilities to be financed and refinanced therewith by using the following toll-free telephone number and passcode:

Dial-in:  (866) 528-2256 (toll free)

Participant Code:  5962298#

The Corporation is accessible to the handicapped. Those requesting interpreter services for the hearing impaired must notify the Corporation (401-831-3770) at least 48 hours in advance of the hearing.

Kimberly W. Mooers,
Executive Director and Hearing Officer
Rhode Island Health and Educational Building Corporation
30 Broad Street, Suite 200
Providence, RI 02903

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