University of New England Bond- Notice of Intent.
FINANCE AUTHORITY OF MAINE
NOTICE OF INTENT TO ISSUE
REVENUE OBLIGATION SECURITIES
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 USER:
PROJECT LOCATION:
PURPOSE OF PROJECT:
University of New England
11 Hills Beach Road, Biddeford, Maine 04005 (the “Biddeford Campus”) and 716 Stevens Ave, Portland, Maine 04103 (the “Portland
Proceeds of the Securities will be used to The Borrower intends to use the proceeds of the Bonds to finance the costs of (A) the renovation of (i) the Alfond Center for the Arts and Sciences on the Biddeford Campus, (ii) Leonard Hall for the College of Business on the Biddeford Campus, (iii) Decary Hall on the Biddeford Campus, (iv) Ludcke Auditorium on the Portland Campus, and (v) the Department of Campus Services Building on the Portland Campus, (B) expansion of the tennis courts on the Biddeford Campus, (C) construction of Girard Marine Science Center Research Pier and Access Road on the Biddeford Campus, and (D) other capital projects, infrastructure, furniture, fixtures and equipment associated with the Borrower’s FY’25, FY’26 and FY’27 capital budgets on the Biddeford Campus and the Portland Campus.
MAXIMUM AMOUNT OF REVENUE OBLIGATION SECURITIES TO BE ISSUED BY FAME TO PROVIDE FINANCING FOR THE PROJECT: $60,000,000
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
