Bond Public Hearings & Agendas

Iowa Higher Education Loan Authority

AGENDA

Tuesday, April 23rd, 2024

11:00 a.m.

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Meeting ID: 842 1497 3992 Passcode: 643580

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  1. Roll Call – Determine Quorum
  1. Minutes
    1. January 29, 2024
  1. Revenue Anticipation Note – University of Dubuque
    1. Public Hearing
    2. RESOLUTION TO PROCEED WITH THE ISSUANCE AND SALE OF REVENUE ANTICIPATION NOTES (PRIVATE EDUCATION WORKING CAPITAL LOAN PROGRAM), SERIES 2024A, IN AN AMOUNT NOT TO EXCEED $6,000,000.
    3. 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 2024A.
    4. Resolution Authorizing the Issuance, Execution, Delivery and Sale of Revenue Anticipation Notes (Private Education Working Capital Loan Program), Series 2024A, 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

 

 

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 2024A (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 & Address of Institution:                                   Maximum Principal of Working Capital Notes: 

University of Dubuque                                                                                                $6,000,000

2000 University Avenue

Dubuque, IA  52001

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 to be held at the office of the Authority, 1200 Valley West Drive, Suite 206-11, West Des Moines, IA 50366, at 11:00 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.  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.  Members of the public wishing to express their views for or against the proposal to issue the Notes have the option to participate in the public hearing via Zoom:

https://us06web.zoom.us/j/84214973992?pwd=fEBxcVB1UgJVrpDmgKR16NOkQ0ryXY.1

Meeting ID: 842 1497 3992 Passcode: 643580

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