TITLE
Title
HOLD PUBLIC HEARING AND CONSIDER APPROVAL OF FINANCING OF EDUCATIONAL FACILITIES WITH THE PROCEEDS OF NOT TO EXCEED $42,000,000 IN AGGREGATE PRINCIPAL AMOUNT OF EDUCATIONAL FACILITIES REVENUE AND REVENUE REFUNDING BONDS (GUILFORD COLLEGE), IN ONE OR MORE SERIES, TO BE ISSUED BY THE PUBLIC FINANCE AUTHORITY OF WISCONSIN
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SPONSOR
Sponsor
Donald P. Ubell, Esq., Parker Poe Adams & Bernstein LLP
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BACKGROUND
Background
The Bonds are expected to be issued pursuant to 66.0304 of the Wisconsin Statutes, as amended, by the Public Finance Authority (the “Authority”), a commission organized under and pursuant to the provisions of Sections 66.0301, 66.0303 and 66.0304 of the Wisconsin Statutes, and the proceeds from the sale of the Bonds will be loaned to Guilford College, a North Carolina non-profit corporation (the “Borrower”), and used for the for the following purposes:
(a) to refund in advance of their maturity the College’s obligations with respect to (1) the North Carolina Capital Facilities Finance Agency Revenue Bonds (Guilford College), Series 2005A, (2) the North Carolina Capital Facilities Finance Agency Revenue Bonds (Guilford College), Series 2005B, and (3) the North Carolina Capital Facilities Finance Agency Tax-Exempt Educational Facilities Revenue Bonds (Guilford College Project), Series 2008;
(b) to renovate the gymnasium, including the floor, locker rooms, roof and chiller; update fire alarm systems; improve campus lighting, improve ADA access and install fire-dampening sprinklers; renovate Hendricks, Bauman and Founders Buildings; renovate the Campus Library; acquire, furnish and equip an apartment building; renovate or add to New Garden, Binford, Milner, Bryan, Frank Science Center Buildings; update academic classrooms and computer labs; renovate Hege-Cox Hall and add an addition to the building; renovate North Hall; construct a new athletic facility and provide other educational improvements related to the College’s mission on...
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