CLASSIFIEDS
00090773 —
Listing Began:
Description
Seller's Comments and Description:
NOTICE OF PUBLIC HEARING WITH RESPECT
TO PROPOSED REVENUE BOND FINANCING
BY THE DISTRICT OF COLUMBIA
9:00 a.m., Tuesday, February 25, 2025
Toll free number (833) 231-3338;
Passcode 459997237#
Notice is hereby given that the District of Columbia (the “District”) will hold a public hearing regarding the proposed issuance by the District of its Revenue Bonds (Society for Science and the Public Issue) Series 2025, in one or more series, pursuant to a plan of financing, in an aggregate principal amount not to exceed $25,000,000 (the “Bonds”). Proceeds of the Bonds, which will be issued, for federal income tax purposes, as qualified 501(c)(3) bonds as defined in Section 145 of the Internal Revenue Code of 1986, as amended (the “Code”), will be loaned by the District to Society 1776 Mass Ave LLC, a District of Columbia limited liability company, which is solely owned by Society for Science and the Public, a nonprofit corporation organized and existing under the laws of the District of Columbia, and exempt from federal income taxes under Section 501(a) of the Code as an organization described in Section 501(c)(3) of the Code (the “Borrower”).
The proceeds of the Bonds will be used by the Borrower for the purpose of financing, refinancing or reimbursing all or a portion of the Borrower’s costs, including (A) capital expenditures and working capital expenditures with respect to educational and related facilities located at 1776 Massachusetts Avenue, NW, Washington, DC 20036 (the “Project”); (B) interest on the Bonds; (C) credit enhancement and liquidity costs; (D) a debt service reserve fund for the Bonds; and (E) issuance costs of the Bonds.
The Borrower is the initial legal owner and principal user of the Project. The Bonds will not be a general obligation of the District and will not be a pledge of or involve the faith and credit or the taxing power of the District.
The telephonic public hearing, which may be continued or adjourned, will be held at 9:30 a.m. on February 25, 2025, using the dial-in information provided at the top of this notice. Residents of the District of Columbia and persons interested in the proposed Bonds, or the location or nature of the Project, may present up to three minutes of oral testimony at the public hearing by providing their names, addresses, telephone numbers, and organization represented (if any) to William Liggins at (202) 812-6090 or William.Liggins@dc.gov by the close of business on Friday, February 21, 2025. Witness statements, which will be made part of the official record, should be submitted by email to Mr. Liggins at William.Liggins@dc.gov or by mail to: Revenue Bond Program, 1015 Half Street, S.E., Suite 675, Washington, D.C. 20003, Attention: William Liggins, Director.
February 17, 2025
Ad#90773