NOTICE OF PUBLIC HEARING REGARDING PLAN OF FINANCE INVOLVING THE ISSUANCE OF REVENUE BONDS BY THE PRIVATE COLLEGES AND UNIVERSITIES AUTHORITY FOR THE BENEFIT OF AGNES SCOTT COLLEGE, INC.
YOU ARE HEREBY NOTIFIED that, pursuant to the provisions of Section 147(f) of the Internal Revenue Code of 1986, as amended (the “Code”), a public hearing (the “Hearing”) will be held on the 2nd day of October, 2024, at 11:00 a.m., regarding a plan of finance (the “Plan of Finance”) proposed by Agnes Scott College, Inc., a Georgia non‑profit corporation (the “College”) involving the issuance by the Private Colleges and Universities Authority (the “Authority”) of its qualified 501(c)(3) bonds as defined in Section 145 of the Internal Revenue Code of 1986, as amended (the “Code”), for educational facilities (the “Bonds”) for the benefit of the College to finance the Educational Facilities as hereinafter described. The Hearing will be located at the offices of Alston & Bird LLP, One Atlantic Center, 49th Floor, 1201 West Peachtree Street, Atlanta, Georgia 30309-3424 and is also accessible via conference call (Dial In: 888-525-7866 and Participant Passcode: 4048817528).
The proceeds of the Bonds will be loaned to the College for the purpose of (i) financing, in whole or in part, the costs of the acquisition, renovation, expansion, construction and equipping of one or more facilities for higher education, including facilities for the housing of students, Hopkins Hall and Main Hall, and related capital projects used by the College in connection with the educational operations of the College (the “Educational Facilities”); and (ii) paying all or a portion of the costs of issuing the Bonds.
The main campus of the College is located in Decatur, Georgia, and the address of its principal office is 141 East College Avenue, Decatur, Georgia. The Educational Facilities are located on the main campus of the College or other sites proximate to the main campus, as well as on other sites that are used by the College as part of its integrated educational operations (which include 339 East College Avenue, 144 West College Avenue, 124 West College Avenue, 132 West College Avenue, and 138 West College Avenue, Decatur, Georgia 30030).
The initial legal owner or principal user of the Educational Facilities financed by the Bonds is the College.
The Bonds will not constitute an indebtedness or general obligation of the Authority or the State of Georgia or any political subdivision thereof, but will be payable solely from amounts paid to the Authority by the College pursuant to one or more loan agreements to be entered into between the Authority and the College and not from any other fund or source.
The Bonds may be issued by the Authority pursuant to the Plan of Finance from time to time and in one or more series in an aggregate principal amount of up to $14,000,000 during the expected three-year period commencing on the date of approval of the Plan of Finance. It is the intention of the College and the Authority that the first series of Bonds will be issued not later than one year from the date of approval of the Plan of Finance.
Any person interested in the proposed issuance of the Bonds or the nature or locations of the Facilities financed by the Bonds may appear at the Hearing using the conference call dial-in instructions set forth above and be heard or may submit their views in writing. Written comments should be submitted to the Private Colleges and Universities Authority, c/o Alston & Bird LLP, 1201 West Peachtree Street, Atlanta, Georgia 30309-3424, Attention: Amber Pelot or emailed to amber.pelot@alston.com, and should be mailed in sufficient time to be received before the date of the hearing.
The Authority will not conduct any performance audit or performance review with respect to the Bonds as such terms are described in Section 36-82-100, Official Code of Georgia Annotated.
PRIVATE COLLEGES AND UNIVERSITIES AUTHORITY