NOTICE OF PUBLIC HEARING ON ISSUANCE OF REVENUE OBLIGATIONS – University of St. Thomas Series 2024
January 5, 2024
MINNESOTA HIGHER EDUCATION FACILITIES AUTHORITY
NOTICE OF PUBLIC HEARING ON ISSUANCE OF REVENUE OBLIGATIONS
NOTICE IS HEREBY GIVEN that a public hearing will be held by the Minnesota Higher Education Facilities Authority (the “Authority”) with respect to a proposal to issue revenue bonds or other obligations on behalf of University of St. Thomas (the “University”), as owner and operator of the University of St. Thomas, on January 17, 2024, at 2:00 p.m., at the Authority’s office, 860 Blue Gentian Road, Suite 145, Eagan, Minnesota.
Under the proposal, the Authority would issue its revenue bonds or other obligations in an original principal amount of up to approximately $210,000,000 (the “Bonds”) to finance a project (the “Project”) consisting of (a) the acquisition, design, site preparation (including demolition of existing improvements), construction, improvement and equipping of (i) an approximately 240,000 square-foot multi-purpose arena including facilities for NCAA Division I hockey and basketball, other athletics, and other institution operations, (ii) related higher-education facilities and (iii) other permissible capital projects (the “New Money Facilities”); and (b) the current refunding of the Authority’s outstanding Revenue Note, Series Seven-Z (University of St. Thomas), dated March 14, 2014, issued in the original principal amount of $24,210,000 (the “Series Seven-Z Note”) to provide funds to advance refund the Authority’s Revenue Bonds, Series Five-Y (University of St. Thomas), dated August 1, 2004, which were issued to provide funds to finance the construction, equipping and furnishing of Flynn Residence Hall (formerly known as Selby Residence Hall), a seven-story student residential hall and related parking facility (the “Refunding”).
All the facilities and improvements to be financed or refinanced by the Project are or will be owned and operated by the University and are or will be located on the University’s main campus, the principal street address of which is 2115 Summit Avenue, Saint Paul, Minnesota, and the boundaries of which are Selby Avenue and Summit Avenue on the north, Cleveland Avenue South and Cretin Avenue South on the east, Grand Avenue and Goodrich Avenue on the south, and Cretin Avenue and Mississippi River Boulevard on the west.
Approximately $198,000,000 of the principal amount of the Bonds will be allocated to the New Money Facilities, and approximately $12,000,000 of the principal amount of the Bonds will be allocated to the Refunding.
Members of the public may attend the hearing in person at the Authority’s offices or by telephone or other electronic means, in accordance with Minnesota Statutes, Section 13D.015, by calling toll-free 1-877-978-6969; Access Code 843-929-912# or by video at https://www.gomeet.com/843-929-912 (requires Google Chrome for best performance). Some members of the Authority may participate by telephone or other remote means.
Written comments may be sent by regular mail to the attention of the Operations Manager at the offices of the Authority at 860 Blue Gentian Road, Suite 145, Eagan, Minnesota 55121, emailed to [email protected], or sent by facsimile to (651) 297-5751. Anyone requiring an accommodation consistent with the Americans with Disabilities Act should contact the Authority at (651) 296-4690 at least 48 hours in advance of the hearing to arrange for any necessary accommodations.
For additional information on such public hearing, see the Notice of Public Hearing – University of St. Thomas, on the Authority’s website: mnhefa.org – Recent News.
At said time and place the Authority shall give all parties who appear or have submitted written comments an opportunity to express their views with respect to the proposal to undertake and finance the Project.
Dated: January 5, 2024
By Order of the
Minnesota Higher Education Facilities Authority
Barry W. Fick
Executive Director