Legal Notices

CHARLESTON BUILDING COMMISSION NOTICE OF PUBLIC HEARING ON UNIVERSITY FACILITIES REFUNDING REVENUE BONDS (THE UNIVERSITY OF CHARLESTON, INC.), SERIES 2024 AND RELATED MATTERS Pursuant to Section 8-16-7 of the Code of West Virginia of 1931, as amended, and Section 147(f) of the Internal Revenue Code of 1986, as amended, a public hearing will be held by the Charleston Building Commission (the “Issuer”) on the following entitled Ordinance and on the question of whether there should be approved the issuance of one or more series of Bonds by the Issuer in an amount not to exceed $18,000,000 for the purpose of financing the refunding and redemption of the Issuer’s $18,025,000 University Facilities Refunding Revenue Bonds (The University of Charleston, Inc.), Series 2018 (the “2018 Bonds”), which 2018 Bonds financed the costs of (i) refunding and redeeming the Issuer’s University Facilities Revenue Bonds (The University of Charleston, Inc.), Series 2009 (the “2009 Bonds”); and (ii) paying the costs of issuance of the 2018 Bonds and related costs. The 2009 Bonds financed the costs of (i) designing, acquiring, constructing and equipping an approximately 150-bed student housing facility upon the University of Charleston campus; (ii) designing, acquiring and constructing an approximately 525-space motor vehicle parking facility upon the University of Charleston campus (together with the student housing facility, the “Project”); and (iii) paying the costs of issuance of the 2009 Bonds and related costs. The proceeds of the Bonds may also be used to pay the costs of issuance of the Bonds and related costs. The Bonds will benefit, and the Project is owned and operated by, The University of Charleston, Inc., a West Virginia nonprofit corporation, described in Section 501(c)(3) of the Code and exempt from federal income taxation under Section 501(a) of the Code (the “University”). The Project is part of the University campus, located at 2300 MacCorkle Avenue, S.E., Charleston, West Virginia 25304. Certain real property of the University, including the site of the Project and of a student housing facility also located on the University campus and commonly referred to as Riggleman Hall, together with the improvements thereon, will be leased by the University to the Issuer, which will then lease the property back to the University for use of the property, all pursuant to either leases replacing the leases entered in connection with the 2018 Bonds or amendments to the such leases entered in connection with the 2018 Bonds. The rentals to be paid by the University under the lease from the Issuer to the University will be sufficient to pay the principal of and interest due on the Bonds. The Bonds are payable from revenues and rentals to be derived from the leasing of the property by the University. No taxes may at any time be levied by the City or the Issuer for the payment of the Bonds or the interest thereon. The public hearing will be held at a special meeting of the Board of the Charleston Building Commission to be held at 11:30 a.m., on January 29, 2024, in its office at 815 Quarrier Street, Suite 244, Charleston, West Virginia 25301, and, at such hearing, all parties and interested persons may attend and appear before the Charleston Building Commission and be heard (orally or in writing) as to whether the Ordinance shall be put into effect and to express their views on the proposed issuance of the Bonds, the refunding and redemption of the 2018 Bonds and the Project. At such hearing all objections and suggestions shall be heard, and the Issuer shall then take such action as it shall deem proper in the premises upon an Ordinance entitled: ORDINANCE AUTHORIZING THE ISSUANCE OF ONE OR MORE SERIES OF CHARLESTON BUILDING COMMISSION UNIVERSITY FACILITIES REFUNDING REVENUE BONDS (THE UNIVERSITY OF CHARLESTON, INC.), SERIES 2023, ON A TAX-EXEMPT OR TAXABLE BASIS, IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $18,000,000, TO PROVIDE FUNDS TO FINANCE THE REFUNDING AND REDEMPTION OF THE CHARLESTON BUILDING COMMISSION UNIVERSITY FACILITIES REFUNDING REVENUE BONDS (THE UNIVERSITY OF CHARLESTON, INC.), SERIES 2018, AND COSTS RELATING THERETO, INCLUDING THE COSTS OF ISSUANCE OF SUCH REFUNDING REVENUE BONDS; AUTHORIZING IF REQUESTED THE DESIGNATION OF AN INTEREST RATE AGREEMENT IN CONNECTION WITH SUCH REFUNDING REVENUE BONDS; AUTHORIZING THE NEGOTIATION, EXECUTION AND DELIVERY OF AN INDENTURE OF TRUST OR AN INDENTURE OF MORTGAGE, SECURITY AGREEMENT, ASSIGNMENT OF RENTS AND LEASES AND CREDIT LINE DEED OF TRUST, AN INITIAL LEASE, AN AGREEMENT AND LEASE, A BOND PURCHASE AGREEMENT, IF NECESSARY, AND SUCH REFUNDING REVENUE BONDS; AUTHORIZING THE DISTRIBUTION OF A PRELIMINARY OFFICIAL STATEMENT, IF NECESSARY, AND AUTHORIZING THE EXECUTION, DELIVERY AND DISTRIBUTION OF AN OFFICIAL STATEMENT, IF NECESSARY; SETTING A PUBLIC HEARING ON THIS ORDINANCE; AUTHORIZING THE EXECUTION AND DELIVERY OF OTHER DOCUMENTS, INSTRUMENTS, AGREEMENTS AND CERTIFICATES AND AUTHORIZING THE TAKING OF ALL OTHER ACTIONS NECESSARY OR APPROPRIATE IN CONNECTION WITH SUCH OUTSTANDING REVENUE BONDS ISSUED AND SUCH REFUNDING REVENUE BONDS PROPOSED TO BE ISSUED BY THE CHARLESTON BUILDING COMMISSION FOR THE BENEFIT OF THE UNIVERSITY OF CHARLESTON, INC. The above-entitled Ordinance was passed by the Issuer on September 21, 2023, and such title describes generally the contents thereof and the purposes of the bond issue contemplated thereby. A certified copy of the above-entitled Ordinance is on file at the office of the Charleston Building Commission, 815 Quarrier Street, Suite 244, Charleston, West Virginia, for review by interested persons during regular office hours. Dated January 10, 2024 CHARLESTON BUILDING COMMISSION By: Ronald J. Butlin Secretary LC-166882 01-16,23;2024