Notice of Public Hearing to be Held on September 20, 2022

NOTICE OF PUBLIC HEARING

 

Notice of PUBLIC HEARING TO BE HELD BY THE RHODE ISLAND HEALTH AND EDUCATIONAL BUILDING CORPORATION CONCERNING THE FINANCING OF a PROJECT FOR THE PAUL CUFFEE SCHOOL IN PROVIDENCE, RHODE ISLAND.  Notice is hereby given that the Rhode Island Health and Educational Building Corporation (the “Corporation”) will hold a public hearing on September 20, 2022, at 10:00 a.m.  The Corporation hereby notifies interested persons that the public hearing will be held via teleconference in lieu of an in-person public hearing. Persons wishing to participate in the hearing may attend by teleconference by using the toll-free telephone number and passcode listed below:

 

Dial-in:  (866) 528-2256 (toll free)

Participant Code:  5962298#

 

The purpose of the hearing will be to consider the issuance of qualified 501(c)(3) bonds as defined in Section 145 of the Internal Revenue Code of 1986, as amended (the “Code”) by the Corporation in a maximum aggregate principal amount not to exceed $3,100,000 (the “Bonds”), for a project to be owned by The Paul Cuffee School, a Rhode Island nonprofit corporation (the “Institution”). The proceeds of the Bonds will be used by the Institution to finance certain charter school facilities owned and operated by the Institution in a single, integrated operation comprising the Institution’s approximate 50,000 square foot Upper School facility located at 544 Elmwood Avenue, Providence, Rhode Island, used by the Institution as a charter school for grades 9 through 12, and the Institution’s approximate 40,000 square foot Lower School facility located at 459 Promenade Street, Providence, Rhode Island, used by the Institution as a charter school for Kindergarten through grade 5. The projects expected to be financed with the proceeds of the Bonds, include, but are not limited to: (a) replacing the roof, ventilation units and boiler and fire protection improvements at the Upper School facility, (b) replacing the windows and boiler, the addition of a vestibule, and fire protection improvements at the Lower School facility, (c) various other capital renovations and improvements to the Institution’s facilities and the acquisition and installation of furnishings and equipment, all as included from time to time in the Institution’s capital budget and located or to be located at the Upper School facility or the Lower School facility, and (d) paying the costs of issuance of the Bonds and the Corporation’s administrative fees.

 

The owner and/or operator of the 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.  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.  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