Notice of Public Hearing to be Held on May 15, 2024

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 May 15, 2024, at 10:00 a.m. via telephonic conference. In accordance with IRS Revenue Procedure 2022-20, providing guidance for the holding of toll-free teleconference public hearings in conformance with the requirements of Section 147(f) of the Internal Revenue Code of 1986, as amended (the “Code”), 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 Cowden Street Collaborative, Inc. d/b/a Segue Institute for Learning, a Rhode Island nonprofit corporation and independent charter school operating under a charter granted by the Rhode Island ‎Council on Elementary and Secondary Education (the “Institution”), that the Corporation issue its Educational Institution Revenue Bonds, Segue Institute for Learning Issue, which will be qualified 501(c)(3) bonds, in a maximum aggregate principal amount not to exceed $20,000,000 (the “Bonds”).

The proceeds of the Bonds will be used to finance (a) the following capital projects: (1) acquisition, construction, renovation, equipping and/or furnishing of a building located in Pawtucket, Rhode Island to serve as a new ‎high school; (2) construction, renovation, expansion, ‎equipping and/or furnishing of existing facilities located on the Institution’s existing campus in ‎Central Falls, Rhode Island; ‎‎(3) infrastructure and grounds improvements; and ‎(4) the ‎acquisition and installation of ‎furnishings and equipment, all of the foregoing to be ‎located at facilities used in an integrated operation owned and/or operated by the Institution at 1080 Main Street in Pawtucket, Rhode Island and 325, 346 and 352 Cowden Street in Central Falls, Rhode Island, or adjacent or proximate sites, (b) capitalized interest, if ‎necessary, and (c) costs of issuance of the Bonds.

The owner and/or operator of the projects and facilities to be financed 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.

Persons interested are invited to participate in the hearing and to offer comments and ask questions with regard to the issuance of the above‑referenced Bonds and the location and nature of the projects and facilities to be financed therewith by using the following toll-free number and passcode:

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.

Dylan Zelazo

Executive Director and Hearing Officer

Rhode Island Health and Educational Building Corporation