Notice of Intent to Issue — Saddleback Mountain Foundation
Notice is hereby given that the Finance Authority of Maine (FAME) intends to issue Revenue Obligation Securities (the “Securities”) pursuant to the Finance Authority of Maine Act (Chapter 110 of Title 10 of the Maine Revised Statutes, as amended) and has issued its Certificate of Approval for the Project to be financed with proceeds of the Securities. Set forth below is a summary of the Certificate including a description of the purpose for which the Securities will be issued, a statement of the maximum principal amount of the Securities and the time within which any proceeding to set aside certain actions of FAME with respect to the Project, plan of finance or the Securities or otherwise obtain relief on grounds of invalidity of such action must be commenced.
PROJECT OWNER/USER:
PROJECT LOCATION:
DESCRIPTION OF PROJECT:
Saddleback Mountain Foundation (the “Foundation”)
976 Saddleback Mountain Rd, Sandy River
Plantation, ME 04970
The Securities will be qualified 501(c)(3) bonds as defined in Section 145 of the Internal Revenue Code of 1986, as amended, issued to finance the acquisition of the Saddleback Mountain Ski Resort (the “Resort”) and funding of additional future capital improvements including but not limited to chair lift improvements, lodging / restaurant improvements, snow-making equipment, road and utility improvements and other miscellaneous capital improvements at the Resort, plus costs of issuance.
MAXIMUM AMOUNT OF REVENUE OBLIGATION SECURITIES TO BE ISSUED BY FAME TO PROVIDE FINANCING FOR THE PROJECT: $30,000,000
Any action or proceeding in any court to contest the issuance of the Securities, to set aside the Certificate of Approval for the Project or to obtain relief upon the grounds that the Certificate of Approval was improperly issued, was issued for unauthorized purposes or is otherwise invalid for any reason, must be started within 30 days after the date of publication of this Notice. After the expiration of such a 30-day period of limitation, no right of action or defense founded upon the invalidity of the approval; or contesting any provision or the issuance of the Certificate of Approval or the issuance of the Securities may be started or asserted nor shall the Certificate of Approval or the issuance of Securities be open to question in any court upon any grounds.
This Notice published pursuant to 10 M.R.S.A. Section 1044(1).
Finance Authority of Maine
5 Community Drive
P.O. Box 949
Augusta, ME 04332-0949
(207) 623-3263
Contact Person: Christopher H. Roney, General Counsel
