VERMONT EDUCATIONAL AND HEALTH BUILDINGS

FINANCING AGENCY NOTICE OF PUBLIC HEARING

Vermont Educational and Health Buildings Financing Agency, Winooski, Vermont (the “Agency”), a body corporate and politic constituting a public instrumentality of the State of Vermont, intends to issue its Vermont Educational and Health Buildings Financing Agency Revenue Bond (Lyndon Institute Project) 2020 Series A (the “Bond”), in an amount not to exceed $6,000,000, as qualified 501(c)(3) bonds as defined in Section 145 of the Internal Revenue Code of 1986 to make a loan to Lyndon Institute, Inc. (the “School”) for purposes of:

(1) paying, or reimbursing the School for paying, a portion of the cost of acquiring, constructing, renovating or equipping capital projects relating to the School’s capital facilities in Lyndon Center, Vermont, including, but not limited to: (a) renovations to (i) the exterior of Baker Hall located at 134 King Drive, (ii) the 3^rd floor of the Main Building and the loading dock and Bell Tower therein, all located at 168 Institute Circle (the “Main Building”), and (iii) the exterior of the E. Harris Brown Building located at 39 Luther Circle (the “E.H. Brown Building”), (b) installation of new windows at the Main Building, (c) replacement of the roof at (i) Thompson Cottage located at 72 College Road, and (ii) Norris Arts Center located at 373 Center Street (the “Norris Arts Center”), and (d) replacement of the foundation of (i) Pearl House located at 12 King Drive (the “Pearl House”), (ii) Tavern Dormitory located at 117 King Drive (the “Tavern Dormitory”), and (iii) Prescott House located at 115 College Road (the “Prescott House”) (the capital projects described in clauses (a) through (d) are referred to collectively as the “2020 Project”);

(2) currently refunding the Vermont Economic Development Authority Revenue Bonds (Lyndon Institute Issue) Series 2006 issued on behalf of the School (the “2006 Bonds”);

(3) repaying all or a portion of a term loan obtained by the School that was used for the purpose of (a) paying a portion of the cost of constructing and equipping the Hilton Dormitory (formerly known as the Brookside Dormitory) located at 64 Campus Lane, and (b) refinancing loans used to temporarily finance the acquisition and renovation of the Buschmann Dormitory located at 245 Center Street (the “Buschmann Dormitory”) (the capital projects described in clauses (a) and (b) are referred to collectively, the “2010 Project”);

(4) repaying all or a portion of a term loan obtained by the School that was used for the purpose of paying, or reimbursing the School for paying, a portion of the cost of acquiring, constructing, renovating or equipping capital projects relating to the School’s facilities in Lyndon Center, Vermont, including, but not limited to: (a) renovations to the Red Barn located at 100 King Drive, (b) renovations to the Smith Building located at 105 King Drive, (c) renovations to the Creamery Building located at 114 King Drive, (d) improvements to the softball field located at 115 College Road, (e) a retaining wall at Prescott House, (f) replacement of the roof at Tavern Dormitory, (g) renovations to Pearl House, (f) renovations and improvements at Gateway Cottage located at 134 College Road (“Gateway”), (g) renovations and improvements to the Main Building, (h) renovations to Buschmann Dormitory, (i) replacement of a hot water tank at Sanborn Hall located at 27 College Road, (j) improvements to the exterior of the Norris Art Center, (k) renovations to the E. Harris Brown Building, (l) renovations to Campbell House Dormitory located at 40 Matty House Circle (“Campbell Dormitory”), (m) replacement of the roof at Bean Cottage located at 400 Center Street, (n) renovations to the True Building located at 83 King Drive, and (o) replacement of the sewer line at Amadon House located at 91 College Road (the capital projects described in (a) through (o) are referred to collectively as the “2015 Project”); and

(5) paying certain costs incurred in connection with the issuance of the Bond.

The proceeds of the 2006 Bonds were used to (1) current refund the Agency’s Revenue Refunding Bonds (Lyndon Institute Project) Series 1996, the proceeds of which were used to refinance eligible capital improvements of the School in Lyndon Center, including renovations to the Darling Campus complex, and construction of an auto shop, Sanborn Hall and Harris Business Center (the E. Harris Brown building) all located on the School’s campus on College Road and Center Streets (the “1993 Project”), and (2) provide funds to (a) refinance loans used to temporarily finance renovations to Gateway, Norris Arts Center, Mathewson House located at 78 Matty House Circle, and various other Lyndon Institute campus buildings, and (b) finance the cost of constructing, furnishing and equipping Campbell Dormitory (collectively, the “2006 Project”).

The School is and will be the legal owner and principal user of the 1993 Project, the 2006 Project, the 2010 Project, the 2015 Project, and the 2020 Project (collectively, the “Projects”) all of which are located at the street addresses set forth above on the main campus of the School in Lyndon Center, Vermont.

Please Take Notice that the Agency will hold a public hearing at 10:00 a.m. on August 31, 2020 at which time any person may be heard regarding the issuance of the proposed Bond, the financing of the 2020 Project, the refunding of the 2006 Bonds, and refinancing of School debt incurred for the 1993 Project, 2006 Project, the 2010 Project, and 2015 Project described above.

During the current declared state of emergency under 20 V.S.A. Chapter 1 due to the COVID-19 pandemic, in order to protect the health and welfare of the public in the State of Vermont while providing access to the operations of government, the general public may participate in the public hearing by calling the following toll-free telephone number 888-475-4499 and use meeting I.D. 992 6978 4611#.  Members of the general public may also participate in the public hearing by Zoom.  Requests for Zoom access should be submitted to the Agency via email at michael@vtbondagency.org no later than 9:00 a.m. on August 31, 2020.

Written comments may also be submitted to the Agency via email at michael@vtbondagency.org no later than 9:00 a.m. on August 31, 2020.

Documents regarding the proposed Bond and other public records regarding the Projects described above are in the possession of the Agency and may be viewed on the Agency’s website at www.vehbfa.org/VEHBFA_TEFRA_2020-2/.

Any person who decides to appeal any decision made by the Agency with respect to any matter considered at its hearing will need a record of the proceedings.  Such person may need to ensure that a verbatim record of the proceedings is made, including the testimony and evidence upon which the appeal is to be based.

 

2020 Lyndon Institute Resolution (NM_Refunding)

	/s/ Michael Gaughan
	Executive Director
	Vermont Educational and Health Buildings Financing Agency

VERMONT EDUCATIONAL AND HEALTH BUILDINGS

FINANCING AGENCY NOTICE OF PUBLIC HEARING

Vermont Educational and Health Buildings Financing Agency, Winooski, Vermont (the “Agency”), a body corporate and politic constituting a public instrumentality of the State of Vermont, intends to issue its Vermont Educational and Health Buildings Financing Agency Revenue Bonds (Middlebury College Project) Series 2020 (the “Bonds”), in an amount not to exceed $110,000,000, as qualified 501(c)(3) bonds as defined in Section 145 of the Internal Revenue Code of 1986 to make a loan to The President and Fellows of Middlebury College (the “College”) for purposes of (i) paying, or reimbursing the College for paying, a portion of the cost of acquiring, constructing, renovating or equipping capital projects relating to the College’s capital facilities, including, but not limited to, the renovation of Warner Hall, including, but not limited to, the installation of an elevator, new mechanical and fire protection systems, upgraded restrooms and other accessibility items, new windows, interior finishes, and classroom technology, and the renovation of Dana Auditorium (collectively, the “2020 Project”); (ii) currently refunding the Agency’s outstanding Revenue Refunding Bonds (Middlebury College Project) Series 2010 issued on behalf of the College (the “2010 Bonds”), and (iii) paying certain costs incurred in connection with the issuance of the Bonds.

The proceeds of the 2010 Bonds were used for the purposes of (i) current refunding the Agency’s (a) Adjustable Rate Revenue Bonds (Middlebury College Project) Series 1988A, (the “1988A Bonds”), (b) Revenue Bonds (Middlebury College Project) Series 2002B (the “2002B Bonds”), and (c) Revenue Bonds (Middlebury College Project) Series 2008, (the “2008 Bonds”), and (iii) paying certain costs incurred in connection with the issuance of the 2010 Bonds.

The 1988A Bonds were issued for the purposes of (i) financing a portion of the costs of (a) the construction of the Mahaney Center for the Arts and the McCullough Student Center, and (b) the renovation and equipping of 13 existing buildings and other capital improvements at the main College campus (collectively, the “1988A Project”), and (ii) paying certain costs of issuance of the 1988A Bonds.

The 2002B Bonds were issued for the purposes of (i) financing a portion of the costs of (a) the acquisition, construction, and equipping of an approximately 135,000 sq. ft. library and technology center, (b) the acquisition construction and equipping of the Atwater Commons Project, consisting of two residence halls containing an aggregate of approximately 155 beds and an approximately 255 seat dining hall with a lounge and a seminar room, together with related parking and site improvements, and (c) the renovation of numerous buildings located throughout the main College campus (collectively, the “2002B Project”), and (ii) paying certain costs of issuance of the 2002B Bonds.

The 2008 Bonds were issued for the purposes of (i) retiring indebtedness incurred by the College to purchase and cancel or to pay and redeem the Agency’s Revenue Bonds (Middlebury College Project), Series 2006B (the “2006B Bonds”), and (ii) paying certain costs of issuance of the 2006B Bonds.

The 2006B Bonds were issued for the purposes of (i) current refunding the Agency’s Revenue Bonds (Middlebury College Project) Series 1996 (the “1996 Bonds”), (ii) financing a portion of the cost of (a) the renovation of the College’s Starr Library to convert it from a 84,000 sq. ft. library building to the “Axinn Center,” an 80,000 sq. ft. building, comprised of faculty offices, classrooms and other facilities for academic and College use, site development for the Axinn Center, including new steam and electrical service, new subsurface storm and sanitary services, and a new chilled water service, the construction of a new biomass (woodchip burning) gasification heating and power system serving the College’s main campus, and related site work, and the improvement of steam lines serving the main College campus, renovation of various building roofs, office and classroom buildings, and the installation of carbon monoxide detection systems in residence halls (collectively, the “2006B Project”) and (b) certain costs incurred in connection with the issuance of the 2006B Bonds.

The 1996 Bonds were issued for the purpose of financing (i) a portion of the costs of the acquisition, construction, renovation, and equipping of the College’s existing facilities, including the construction of Bicentennial Hall, a 220,000 sq. ft. facility for the sciences, the construction of eight  residential houses for the housing of approximately 240 students, the construction of a multipurpose student function facility, the renovation of a 3500 sq. ft. Commons Associates home, renovations to the College’s existing dormitories, completion of the Natatorium swimming complex, the renovation of Old Chapel, the College’s administration building, the upgrade of the steam distribution system, boiler and co-generator, the acquisition and installation of a new PBX telephone system, improvements to the humidity and the climate control system of the Mahaney Center for the Arts, the upgrade of the College’s AS400 computer system, development of the College Design Guidelines, and Master Plan interior modification to the Service Building, the renovation of the ventilation system in the College’s Art Studio, the renovation of the Freeman International Center, the upgrade of the sewer line and storm sewer separation, renovation of the Wright Theatre and the Johnson Building, the completion of the College’s computer network, the renovation of the Courthouse building, the development and implementation of the College’s Athletic Facility Master Plan, which included a hockey rink, indoor tennis courts, indoor track and additional athletic facilities, the construction of an 80,000 sq. ft. new dining center, including the removal of the Hillcrest building, the construction of a 10,000 sq. ft. New Technology Center for foreign languages, and the renovation of the McCullough Student Center (collectively, the “1996 Project”); and (ii) certain costs incurred in connection with the issuance of the 1996 Bonds.

The College is and will be the legal owner and/or principal user of the 1988A Project, the 2002B Project, the 2006B Project, and the 1996 Project (collectively, the “Prior Projects”) and the 2020 Project (collectively with the Prior Projects, the “Projects”) and, with the exception of the Courthouse building portion of the 1996 Project, the Projects are located on the main campus of the College in Middlebury, Vermont.  The Courthouse building portion of the 1996 Project is located on 5 Court Street, Middlebury, Vermont.

Please Take Notice that the Agency will hold a public hearing at 12:00 noon on May 8. 2020 at which time any person may be heard regarding the issuance of the proposed Bonds, the financing of the 2020 Project, the refunding of the 2010 Bonds, and refinancing of the Prior Projects described above.

During the current declared state of emergency under 20 V.S.A. Chapter 1 due to the COVID-19 pandemic, in order to protect the health and welfare of the public in the State of Vermont while providing access to the operations of government, the general public may participate in the public hearing by calling the following toll-free telephone number 888-475-4499 and use meeting I.D. 955 5475 4388#.  Members of the general public may also participate in the public hearing by Zoom.  Requests for Zoom access should be submitted to the Agency via email at michael@vtbondagency.org no later than 10:00 a.m. on May 8, 2020.

Written comments may also be submitted to the Agency via email at michael@vtbondagency.org no later than 12:00 noon on May 8, 2020.

Documents regarding the proposed Bonds and other public records regarding the Projects described above are in the possession of the Agency and may be viewed on the Agency’s website at www.vehbfa.org/VEHBFA_TEFRA_2020.

Any person who decides to appeal any decision made by the Agency with respect to any matter considered at its hearing will need a record of the proceedings.  Such person may need to ensure that a verbatim record of the proceedings is made, including the testimony and evidence upon which the appeal is to be based.

2020 Middlebury Loan Agreement

2020 Middlebury Authorizing Resolution

2020 Middlebury Trust Indenture

	/s/ Michael Gaughan
	Executive Director
	Vermont Educational and Health Buildings Financing Agency

VERMONT EDUCATIONAL AND HEALTH BUILDINGS

FINANCING AGENCY NOTICE OF PUBLIC HEARING

Vermont Educational and Health Buildings Financing Agency, Winooski, Vermont (the “Agency”), a body corporate and politic constituting a public instrumentality of the State of Vermont, intends to issue its Vermont Educational and Health Buildings Financing Agency Revenue Bond (Brattleboro Memorial Hospital Project) 2019 Series A (the “2019 Bond”), in an amount not to exceed $12,500,000, to make a loan to Brattleboro Memorial Hospital, Inc. (the “Corporation”) for purposes of (i) paying, or reimbursing the Corporation for paying, a portion of the costs of acquiring, constructing, renovating or equipping capital projects at the Corporation’s hospital facilities in Brattleboro, Vermont, including: (a) the demolition of a two story building and constructing a new four-story, 20,180 square foot building on the site to house central sterile processing and cardiac rehabilitation, a new operating room suite relocated from the main hospital, medical offices for surgical staff and exam rooms, and physician office space and exam rooms, (b) renovation of 6,518 square feet of vacated space in the main hospital building to house the anesthesia workroom and equipment storage, post-anesthesia care unit, endoscopy, minor procedure suite, and pharmacy, and renovation of 4,809 square feet of connecting hallways from the main hospital to the new building, and (c) the purchase and installation of three new boilers to replace two existing boilers, (collectively, the “2019 Project”), and (ii) paying a portion of the costs of issuance of the 2019 Bond.  The 2019 Project will be owned and operated by the Corporation and is located at the main campus of the Corporation located at 17 Belmont Avenue, Brattleboro, Vermont 05301.

Please Take Notice that the Agency will hold a public hearing at 9:30 a.m. on November 12, 2019 at its office at 20 Winooski Falls Way, Winooski, VT  05404, at which time any person may be heard regarding the 2019 Project described above and the proposed 2019 Bond.  Documents regarding the proposed 2019 Bond and other public records regarding the 2019 Project described above are in the possession of the Agency and may be examined during regular business hours at the above referenced office of the Agency.

Any person who decides to appeal any decision made by the Agency with respect to any matter considered at its hearing will need a record of the proceedings.  Such person may need to ensure that a verbatim record of the proceedings is made, including the testimony and evidence upon which the appeal is to be based.

	/s/ Michael Gaughan
	Executive Director
	Vermont Educational and Health Buildings Financing Agency

VERMONT EDUCATIONAL AND HEALTH BUILDINGS

FINANCING AGENCY NOTICE OF PUBLIC HEARING

Vermont Educational and Health Buildings Financing Agency, Winooski, Vermont (the “Agency”), a body corporate and politic constituting a public instrumentality of the State of Vermont, intends to issue its Vermont Educational and Health Buildings Financing Agency Revenue Bonds (Middlebury College Project) Refunding Series 2019 (the “Bonds”), in an amount not to exceed $65,000,000, to make a loan to The President and Fellows of Middlebury College (the “College”) for purposes of (i) currently refunding the Agency’s outstanding Revenue Bonds (Middlebury College Project) Series 2009 issued on behalf of the College (the “2009 Bonds”), and (ii) paying certain costs incurred in connection with the issuance of the Bonds.

The proceeds of the 2009 Bonds were used for the purposes of (i) refunding the Agency’s Revenue Bonds (Middlebury College Project) Series 1999 (the “1999 Bonds”); and (ii) paying certain costs incurred in connection with the issuance of the 2009 Bonds.

The proceeds of the 1999 Bonds were used for the purposes of (i) paying, or reimbursing the College for paying, a portion of the costs of a major capital improvement program for the College, consisting of purchases, new construction, and renovations of the College’s existing facilities, including the completion of Bicentennial Hall, a facility for the sciences, the expansion of and renovation to the Starr Library, construction of new student residences and renovations to existing student residences, renovations to dining facilities, and construction of a community center housing such functions as the student mailroom, student meeting rooms, student radio station, and other student activity space, construction and renovation of athletic facilities, including the completion of a new hockey rink and lobby, construction of a new field house, and renovation of Nelson Arena, Pepin Gymnasium and Squash Courts, and renovations to the campus infrastructure, including underground utilities, support facilities for athletic fields, relocation of facilities management and recycling functions, and new campus entrance ways to support the concept of a pedestrian campus (collectively, the “1999 Project”) and (ii) paying certain costs in incurred in connection with the issuance of the 1999 Bonds.

The 1999 Project is owned and operated by the College and is located on its main campus in Middlebury, Vermont.

Please Take Notice that the Agency will hold a public hearing at 12:00 noon on June 18, 2019 at its office at 20 Winooski Falls Way, Winooski, Vermont 05404, at which time any person may be heard regarding the issuance of the proposed Bonds and refinancing of the 1999 Project described above.  Documents regarding the proposed Bonds and other public records regarding the 1999 Project described above are in the possession of the Agency and may be examined during regular business hours at the above referenced office of the Agency.

Any person who decides to appeal any decision made by the Agency with respect to any matter considered at its hearing will need a record of the proceedings.  Such person may need to ensure that a verbatim record of the proceedings is made, including the testimony and evidence upon which the appeal is to be based.

/s/ Michael Gaughan
Executive Director
Vermont Educational and Health Buildings Financing Agency