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00062393

Frederick News-Post (The), Sep 14, 2019

FREDERICK COUNTY, MARYLAND
12 E. CHURCH STREET
FREDERICK, MARYLAND 21701
(301) 600-1135
PUBLIC NOTICE
Notice is hereby given that a public hearing, pursuant to Section 147(f) of the Internal Revenue Code of 1986, as amended, will be held by Frederick County, Maryland (the “County”) to permit any resident of the County to appear and testify concerning the plan of finance (the “Plan of Finance”) pursuant to which the County would issue up to $16,000,000 of its Economic Development Revenue Bonds (the “Bonds”) in one or more series at one time or from time to time for the benefit of The Young Men's Christian Association of Frederick County, Maryland Incorporated, a nonprofit Maryland corporation (the “Institution”). The hearing will be held on Tuesday, October 1, 2019, at 5:30 p.m. in the first floor hearing room, Winchester Hall, 12 E. Church Street, Frederick, Maryland.
FACILITIES: The proceeds from the sale of the Bonds will be loaned by the County to the Institution to be used by the Institution to finance, refinance or reimburse the Institution for all or a portion of the costs of (i) design, acquisition, construction, equipping and development of a new approximately 60,000 square foot full-service YMCA facility and site improvements on a YMCA owned 22 acre parcel located at 9239 Fingerboard Road, Ijamsville, MD 21754 and (ii) renovation, construction and equipping of facilities located at 1000, 1014 & 1016 North Market Street, Frederick, MD 21701, together with (iii) the acquisition and installation of certain necessary or useful equipment, machinery and landscaping for the foregoing; (iv) the acquisition and installation of such other interests in land as may be necessary or useful, including roads or other rights of access, utilities, and site preparation facilities; (v) certain working capital expenditures; (vi) capitalized interest; (vii) all or a portion of the issuance costs; and (viii) the costs of any bond insurance or other credit enhancement (collectively, the “Facilities”). The Facilities may also include land or interests in land, buildings, landscaping, structures, machinery, equipment, furnishings or other real or personal property located on the same site as the Facilities. The maximum aggregate principal amount of the Bonds will not exceed $16,000,000.
LOCATION: The Facilities are and will be located at 9239 Fingerboard Road, Ijamsville, MD 21754 and 1000, 1014 & 1016 North Market Street, Frederick, MD 21701.
INITIAL OWNER AND OPERATOR OF FACILITIES: The Institution is and will be the initial owner and operator of the Facilities.
PROPOSED USE OF FACILITIES: The Facilities include or will include, among others, the following components (a) a family center including an athletic sports center with gymnasium for athletic events; a teen and senior social center; a wellness center, including strength training room and cardiovascular equipment; a competitive swimming pool; a warm water pool; and administrative offices; (b) parking; (c) a children’s outdoor playground; and (d) outdoor athletic facilities.
The Bonds will be limited obligations of the County, the principal of, premium (if any) upon, and interest on which are payable solely from revenues to be received in connection with the financing or refinancing of the Facilities herein described and from other moneys available to the County for such purposes. Neither the Bonds nor the interest thereon shall ever constitute an indebtedness or charge against the general credit or taxing powers of the County within the meaning of any constitutional or charter provision or statutory limitation and neither shall ever constitute or give rise to any pecuniary liability of the County.
Individuals will be given an opportunity to be heard at this hearing regarding the Plan of Finance and the proposed Bonds and the location and nature of the Facilities. Comments will be limited to three (3) minutes per speaker.
Written comments on the above financing may be sent to the County Council, Winchester Hall, 12 East Church Street, Frederick, Maryland 21701 (301-600-1135) to the attention of the Council Chief of Staff.
Individuals requiring special accommodations are requested to contact the Council’s Office at 301-600-1135 (TTY: Use Maryland Relay) to make the necessary arrangements, no later than three (3) business days prior to the public hearing.
Frederick County, Maryland, does not discriminate on the basis of race, color, national origin, sex, religion, age or disability in employment or the provision of services.
BY ORDER OF THE
COUNTY COUNCIL
M. C. Keegan-Ayer, President
September 14, 21, 2019
© Nov 14, 2019, MDDC Press