Bond Public Hearings & Agendas

NOTICE OF PUBLIC HEARING

AND INTENTION TO ISSUE REVENUE ANTICIPATION NOTES

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 $6,000,000 aggregate principal amount (plus original issue premium up to approximately 10%) of its Revenue Anticipation Notes (Private Education Working Capital Loan Program), Series 2025A (the “Notes”), qualified 501(c)(3) bonds as defined in Section 145 of the Internal Revenue Code of 1986, as amended (the “Code”), pursuant to the provisions of Chapter 261A of the Code of Iowa, as amended, for the purpose of financing working capital loans to a nonprofit higher educational institution located in Iowa (the “Institution”).  The Notes will be issued for the purpose of making a loan to the Institution.  The name and address of the Institution and the maximum principal amount of Notes which will be issued for the benefit of the Institution are as follows:

Name and Address Of Institution                       Maximum Principal Amount of Working Capital Notes

University of Dubuque                                                  $6,000,000

2000 University Avenue

Dubuque, Iowa 52001

(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 Street, Mineral Street and Princeton Place to the West).

The proceeds of the Notes will be loaned to the Institution to finance working capital expenditures at the Institution and to pay the costs of issuing the Notes.  It is proposed that the advance funding agreement pursuant to which the proceeds of the Notes are loaned to the Institution (the “Advanced Funding Agreement”) will provide for loan payments sufficient to pay the principal of and interest and redemption premium, if any, on the related Notes as the same fall due.

NOTICE IS HEREBY GIVEN that a public hearing will be conducted before the Authority at its meeting at 9:00 a.m. on April 23, 2024, pursuant to the provisions of Chapter 261A of the Code of Iowa and Section 147 of the Code on the proposal to issue the Notes.  The hearing will be accessible through Zoom (Meeting ID: 83579718920 Passcode: 229206), 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 Notes 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 Notes.

The Notes, if issued, and the interest and premium, if any, thereon will be payable solely out of the revenues derived from the Advance Funding Agreement pursuant to which the proceeds of the Notes are loaned to the Institution.  The Notes shall be limited and special obligations of the Authority payable solely from revenues received by the Authority under the Advance Funding Agreement, and secured by a pledge of the rights of the Authority under and pursuant to the Advance Funding Agreement.  The Notes will represent and constitute, solely and exclusively, special 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

Wednesday, April 23, 2025

9:00 a.m.

Zoom:

https://us06web.zoom.us/j/83579718920?pwd=0OI3TFOAIGfrOnna7bPO5q55wAexxg.1

Meeting ID: 835 7971 8920
Passcode: 229206

  1. Determine Quorum
  1. Minutes
    • February 4, 2025
  1. Revenue Anticipation Note – University of Dubuque Financing
    • Public Hearing
    •  RESOLUTION TO PROCEED WITH THE ISSUANCE AND SALE OF REVENUE         ANTICIPATION NOTES (PRIVATE EDUCATION WORKING CAPITAL LOAN          PROGRAM), SERIES 2025A, IN AN AMOUNT NOT TO EXCEED $6,000,000.
    • RESOLUTION AUTHORIZING THE PREPARATION AND DISTRIBUTION AND DELIVERY OF A PRELIMINARY OFFICIAL STATEMENT RELATING TO THE IOWA HIGHER EDUCATION LOAN AUTHORITY REVENUE ANTICIPATION NOTES (PRIVATE EDUCATION WORKING CAPITAL LOAN PROGRAM), SERIES 2025A.
    • RESOLUTION AUTHORIZING THE ISSUANCE, EXECUTION, DELIVERY AND SALE OF REVENUE ANTICIPATION NOTES (PRIVATE EDUCATION WORKING CAPITAL LOAN PROGRAM), SERIEES 2025A, THE EXECUTION AND DELIVERY OF AN INDENTURE OF TRUST TO PROVIDE FOR THE ISSUANCE OF SAID NOTES, THE EXECUTION AND DELIVERY OF AN ADVANCE FUNDING AGREEMENT, THE EXECUTION AND DELIVERY OF A CONTINUING DISCLOSURE AGREEMENT AND THE EXECUTION AND DELIVERY OF RELATED NOTE DOCUMENTS.
  1. Other Business