NOTICE OF PUBLIC HEARING AND INTENTION TO ISSUE

PRIVATE COLLEGE FACILITY REVENUE BONDS

OF THE IOWA HIGHER EDUCATION LOAN AUTHORITY

            NOTICE IS HEREBY GIVEN that the Iowa Higher Education Loan Authority (the “Authority”) proposes to issue not to exceed $86,000,000 in aggregate principal amount of its Private College Facility Revenue Bonds (University of Dubuque Project), Series 2025 (the “Bonds”), as tax-exempt qualified 501(c)(3) bonds as defined in Section 145 of the Internal Revenue Code of 1986, as amended (the “Code”), for financing private college facilities pursuant to the provisions of Chapter 261A of the Code of Iowa, as amended, for the purpose of financing (i) the expansion of the aviation learning flight center located at 10656 Airport Road in Dubuque, Iowa 52001 for approximately $21 million, (ii) the purchase and renovation of a building located at 500 Main Street  to house the college of osteopathic medicine program and the physician’s assistant program in Dubuque, Iowa 52001 for approximately $65 million, (iii) renovations of the current physician’s assistant program building, financing various other deferred maintenance and campus improvements including the renovation of existing buildings and the construction of other capital projects, all on the campus of the University of Dubuque (the “University”) the principal address for which is 2000 University Avenue, Dubuque, Iowa 52001 and which is approximately bounded by University Avenue to the north, Auburn Street and North and South Algona Street to the East, Highway 20 to the south and Ohagen St., Mineral Street and Princeton Place to the west, and (iv) paying costs of issuance of the Bonds.  The facilities to be financed with the proceeds of the Bonds are owned by the University and the University will agree to make loan payments sufficient to pay the principal of and interest and redemption premium, if any, on the Bonds as the same fall due.  The University at its discretion, may allocate up to the entire maximum principal amount of proceeds of the Bonds and/or University equity to finance or refinance all, a part, or none, of each portion of the facilities at the various locations.

NOTICE IS HEREBY GIVEN that a Public Hearing will be conducted before the Authority at 9:00 a.m. on February 4, 2025, pursuant to the provisions of Chapter 261A of the Code of Iowa and Section 147 of the Code on the proposal to issue the Bonds.  The hearing will be accessible through Zoom (Meeting ID: 820 7849 8037 Passcode: 284426), and telephonically through the following toll-free number: 1-305-224-1968 and using the Meeting ID and Passcode listed above.  At such public hearing all residents and interested persons shall be given an opportunity to express their views, orally or in writing, for or against the proposal to issue the Bonds and the location and nature of the projects to be financed and refinanced and at said hearing or any adjournment thereof, the Board of the Authority shall adopt a resolution to determine whether or not to proceed with the issuance of the Bonds.

The Bonds, if issued, and the interest and premium, if any, thereon will be payable solely out of the revenues derived from the loan agreement executed in connection with the loan of the proceeds of the Bonds to the University.  The Bonds shall be limited and special obligations of the Authority payable solely from revenues received by the Authority under the loan agreement and secured by a pledge of the rights of the Authority under and pursuant to the loan agreement.  The Bonds will represent and constitute, solely and exclusively, limited obligations of the Authority and will not represent, constitute or create an obligation, general or special, debt, liability or moral obligation of the State of Iowa or any political subdivision thereof within the meaning of any constitutional provision or statutory limitations, and will not constitute a pledge of the full faith and credit of the Authority or the State of Iowa.

                                                                IOWA HIGHER EDUCATION LOAN AUTHORITY

                                                               By:      Maribeth Wright, Executive Director

Iowa Higher Education Loan Authority

AGENDA

Tuesday, February 4, 2025 at 9:00 a.m.

Zoom:

https://us06web.zoom.us/j/82078498037?pwd=1mucMdFCa6GbwARJWvubOpIfZ0qvzO.1

Meeting ID: 820 7849 8037 Passcode: 284426

Phone: 305-224-1968

1. Determine Quorum
2. Minutes
   1. December 12, 2024
3. University of Dubuque Financing

• Public Hearing

• RESOLUTION TO PROCEED WITH THE ISSUANCE AND SALE OF PRIVATE COLLEGE FACILITY REVENUE BONDS (UNIVERSITY OF DUBUQUE PROJECT), SERIES 2025, IN AN AMOUNT NOT TO EXCEED $86,000,000.

• RESOLUTION AUTHORIZING THE PREPARATION AND DISTRIBUTION AND DELIVERY OF A PRELIMINARY OFFICIAL STATEMENT RELATING TO THE IOWA HIGHER EDUCTAION LOAN AUTHORITY PRIVATE COLLELGE FACILITY REVENUE BONDS (UNIVERSITY OF DUBUQUE PROJECT), SERIES 2025.

• RESOLUTION AUTHORIZING THE ISSUANCE, EXECUTION, DELIVERY AND SALE OF PRIVATE COLLEGE FACILITY REVENUE BONDS (UNIVERSITY OF DUBUQUE PROJECT), SERIES 2025, IN AN AGGREGATE PRINCIPAL AMOUNT NOT EXCEEDING $86,000,000, THE EXECUTION AND DELIVERY OF AN INDENTURE OF TRUST TO PROVIDE FOR THE ISSUANCE OF SAID BONDS, THE EXECUTION AND DELIVERY OF A LOAN AGREEMENT WITH UNIVERSITY OF DUBUQUE, THE APPOINTMENT OF A TRUSTEE, AND THE EXECUTION AND DELIVERY OF RELATED BOND DOCUMENTS.

4. Other Business