The Maine Health and Higher Educational Facilities Authority (the "Authority") is empowered under the Maine Health and Higher Educational Facilities Authority Act, Chapter 413 of Title 22, Sections 2051 and 2077, inclusive, of the Maine Revised Statutes Annotated, as amended (the "Act"), to make loans for the construction, improvement or equipping of, among other things, educational and other eligible facilities to carry out any of its purposes and to issue obligations for the purposes of carrying out any of its purposes.
The Authority has been requested to make available the proceeds of its bonds to be issued in the approximate aggregate principal amount not to exceed $37,000,000 and designated Maine Health and Higher Educational Facilities Authority Revenue Bonds, Bowdoin College Issue, Series 2017 (the "Bonds"). The proceeds of the Bonds are to be loaned by the Authority to Bowdoin College ("Bowdoin") as part of a plan of financing to finance and refinance the costs of [font=font36821](1)[/font] advance refunding a portion outstanding in the principal amount of $33,970,000 of the Authority's Revenue Bonds, Bowdoin College Issue, Series 2009A (the "Series 2009A Bonds"), currently outstanding in the principal amount of $98,750,000, the proceeds of which were used to: (a) provide for the current refunding of a portion of the Authority's Revenue Bonds, Series 1995B, a portion of the proceeds of which were applied by Bowdoin to finance and/or refinance the design, site preparation, construction and equipping of a 3-story science building comprising approximately 68,000 square feet and other miscellaneous acquisition, construction and/or renovation of capital equipment and improvements to college facilities, all used for college purposes, owned and operated by Bowdoin and located on the college campus at 5600 College Station, Brunswick, Maine (the "Main Campus"); (b) provide for the current refunding of a portion of the Authority's Revenue Bonds, Series 1998A, a portion of the proceeds of which were applied by Bowdoin to finance the costs of (i) construction of a new student residence building; (ii) renovations to Wentworth Hall Dining Hall for an additional 275-person seating capacity; (iii) miscellaneous residential life renovation projects; and (iv) acquisition, construction and installation of miscellaneous capital improvements, all used for college purposes, owned and operated by Bowdoin and located on the Main Campus; (c) provide for the current refunding of a portion of the Authority's Revenue Bonds, Series 1998C, a portion of the proceeds of which were applied by Bowdoin to finance the acquisition, construction, equipping and miscellaneous capital improvements of a three story building, approximately 32,000 useable square feet, with two floors used for college administrative offices and the third floor for the art department studios and offices all used for college purposes, owned and operated by Bowdoin and located at 84 Union Street, Brunswick, Maine, a two story building, named Edwards Center for Art and Dance, approximately 45,000 useable square feet, used for academic purposes, located at 14 South Street, Brunswick, Maine, and miscellaneous improvements located at College Street, Brunswick, Maine; (d) renovation of the central heating plant located at 9 North Campus Drive, Brunswick, Maine, including the purchase and installation of a new boiler and cogeneration equipment, (e) steam-line infrastructure improvements, (f) miscellaneous construction, renovation and equipping of Bowdoin's educational facilities, and (g) payment of the capitalized interest with respect to the Series 2009A Bonds; [font=font36821](2)[/font] financing (a) the design, site preparation, construction and equipping of a (i) new 3-story student residence buildings comprising approximately 43,000 square feet located along Park Row, Brunswick, Maine; (ii) new 3-story student residence buildings comprising approximately 65,000 square feet located at 80 Harpswell Road, Brunswick, Maine; (b) the renovation of and improvements to the Brunswick Apartments, comprising approximately 99,000 square feet located at 279 Maine Street, Brunswick, Maine; and (c) other miscellaneous acquisition, construction and/or renovation of capital equipment and improvements to college facilities, all used for college purposes, owned and operated by Bowdoin and all located on the Main Campus; [font=font36821](3)[/font] funding a debt service reserve fund, if any, for the Bonds; and [font=font36821](4)[/font] issuing the Bonds. The facilities to be financed or refinanced with the proceeds of the Bonds and the facilities financed and refinanced with the proceeds of the Series 2009A Bonds are or will be used for educational purposes, owned and operated by Bowdoin, and located at the Main Campus unless otherwise indicated above.
Pursuant to the Internal Revenue Code of 1986, as amended, the Authority will hold a hearing on the proposed Bond issue described above at the office of the Authority at 127 Community Drive, Augusta, Maine, commencing at 9:00 a.m. on November 29, 2017. Interested members of the public are invited to attend. The Authority will present information at such hearing on the Bond issue and provide for a question and answer period. Persons desiring to make a brief statement regarding the Bond issue should give prior notice to the Authority at the address or telephone number shown below. Written comment may be submitted to the Authority at the address shown below.
Michael R. Goodwin
Executive Director
Maine Health and Higher Educational
Facilities Authority
127 Community Drive
P.O. Box 2268
Augusta, Maine 04338-2268
(207) 622-1958
Nov. 15, 2017
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