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SPECIAL MEETING OF THE DIRECTORS OF NORTH AUGUSTA PUBLIC FACILITIES CORPORATION

NOTICE OF SPECIAL MEETING
OF THE DIRECTORS OF
NORTH AUGUSTA PUBLIC FACILITIES CORPORATION

February 20, 2017 – 4:00 p.m.

Municipal Building

100 Georgia Avenue

North Augusta, South Carolina 29841

 

            Notice is hereby given that the Board of Directors (the “Board”) of the North Augusta Public Facilities Corporation (the “Corporation”) will hold a special meeting on February 20, 2017 at 4:00 p.m. in the offices of the City of North Augusta, South Carolina (the “City”) located at 100 Georgia Avenue, North Augusta, South Carolina 29841.  The purposes of the meeting will be to consider a financing plan consisting of (1) the refinancing of (A) its $16,000,000 Taxable Installment Purchase Revenue Bond (Parking Garage and Infrastructure Project), Series 2017A maturing on January 18, 2018, the proceeds of which were used or made available to (i) construct the parking deck on certain real property located at 94 Center Street, North Augusta, South Carolina, and (ii) defray the costs of the design, construction and equipping of roads, water, sewer and related infrastructure to be used for economic development purposes by the City, such infrastructure to be located on real property in the City generally bound by the Savannah River to the south, Georgia Avenue to the east, the brick ponds to the north and the Hammond’s Ferry subdivision to the west, and those portions of Center Street and Railroad Avenue adjacent to such parcels, as applicable, and (B) its original amount $6,350,000 Lease-Purchase Obligation, Series 2007 (collectively, the “Refinancing”), and (2) the financing of a multi-purpose municipal stadium, conference facilities, structured and other parking, public park elements including, without limitation, landscaping and hardscape construction to enhance the City’s Greeneway, and certain infrastructure including, without limitation, storm drainage, utilities (water, sanitary, electric, fiber, and gas), asphalt paving construction, sidewalks, and street lighting (collectively, the “Financing”).

Method for Refinancing and Financing

The Refinancing and Financing will be accomplished through the issuance by the Corporation of not exceeding $72,000,000 Taxable Installment Purchase Revenue Bonds (City of North Augusta Project), Series 2017B.

Resolution

The Refinancing and Financing will be authorized pursuant to a resolution of the Board to be considered and voted upon the Board at the meeting of February 20, 2017.

Please see attached documents for copies of Notice and Agenda.

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