Notice of Public Hearing Thursday June 13, 2019 (8:00 am) in CT-1114
SYRACUSE REGIONAL AIRPORT AUTHORITY
NOTICE OF PUBLIC HEARING
ON PROPOSED ISSUANCE OF TAX-EXEMPT OBLIGATIONS
NOTICE IS HEREBY GIVEN that a public hearing pursuant to Section 147(f) of the Internal Revenue Code of 1986, as amended (the “Code”) will be held by the Syracuse Regional Airport Authority the “Issuer”) on June 13, 2019 at 8:00 a.m. local time, at the offices of the Issuer located at 1000 Colonel Eileen Collins Boulevard, Syracuse, New York in connection with the following matters:
The Issuer is considering issuing its Airport Terminal Grant Anticipation Notes (Syracuse Regional Airport Authority), Series 2019 pursuant to Section 142(a)(1) of the Internal Revenue Code in the aggregate principal amount not to exceed $19,000,000 (the “Series 2019 Notes”) to finance a project (the “Project”) consisting of (A) the refinancing of certain revolving indebtedness to KeyBank National Association (the “Line of Credit”) incurred to finance (i) the construction of certain capital improvements (the “Improvements”) in and around the terminal (the “Terminal”) of the airport complex located at 1000 Colonel Eileen Collins Boulevard, Syracuse, New York leased by the Issuer from the City of Syracuse (Tax Map ID Nos. 58.-1-10, 58.-1-7, 58.1-8 and 58.-1-13) consisting of approximately 2,000 acres (the “Airport Complex”), and (ii) the equipping of the Terminal with certain items of equipment, machinery, fixtures, and other items of tangible personal property (the “Equipment” and, together with the Terminal, the Airport Complex, Improvements, the “Project Facility”; (B) paying certain costs and expenses incidental to the issuance of the Series 2019 Notes; and (C) funding any debt service reserve or similar fund, if any.
The Issuer expects that the Series 2019 Notes will be general obligations of the Issuer, secured by a pledge of certain grant moneys, which the Issuer anticipates to receive. THE SERIES 2019 NOTES SHALL NOT BE A DEBT OF THE STATE OF NEW YORK OR ANY POLITICAL SUBDIVISION THEREOF, INCLUDING, WITHOUT LIMITATION, THE CITY OF SYRACUSE AND ONONDAGA COUNTY AND NEITHER THE STATE OF NEW YORK NOR ANY POLITICAL SUBDIVISION THEREOF, INCLUDING, WITHOUT LIMITATION, THE CITY OF SYRACUSE AND ONONDAGA COUNTY, SHALL BE LIABLE THEREON.
A representative of the Issuer will, at the above-stated time and place, hear and accept written comments from all persons with views in favor of or opposed to either the issuance of the Series 2019 Note, the location of the Project Facility or the nature of the Project.
Minutes of the hearing will be made
available to the Mayor of the City of Syracuse.
Approval of the issuance of the Series 2019 Notes by the City of
Syracuse through the Mayor is necessary in order for the interest on the Series
2019 Notes to be excluded from gross income for federal income tax purposes.
Dated: June 4, 2019 By:
Name: Trent R. Amond