The Finance Authority of Maine (the "Authority") is empowered under the Finance Authority of Maine Act, Chapter 110 of Title 10 of the Maine Revised Statutes, as amended, to issue its Revenue Obligation Securities, the interest on which may be exempt from Federal income taxation to assist in financing projects for the purpose of providing enlarged opportunities for gainful employment by the people of the State of Maine and to insure the preservation and betterment of the economy of the State of Maine.
The Authority has received an application for the issuance of Revenue Obligation Securities from [font=font36821]Fiberight LLC[/font] seeking approval for a plan of financing. Pursuant to 10 MRSA §1043 and 26 USCA §147(f), a public hearing will be held by the Finance Authority of Maine at its offices at 5 Community Drive, Augusta, Maine on February 20, 2017 at 10:00 am to receive comments on, and to consider the application for a Certificate of Approval for the following Project:
[font=font36821]PROJECT USER: Fiberight LLC
PROJECT LOCATION: Coldbrook Road, Hampden, Maine
DESCRIPTION
OF PROJECT: To develop, construct, equip, maintain and operate an
approximate 140,000 tons per year municipal waste
processing facility in Hampden, ME. The Facility will
source municipal and commercial waste under a long
term contract with the Maine Municipal Review
Committee ("MRC"). The Facility will process and
convert this waste into recyclable plastics and metals
and biogas for third party market and contract sales.
MAXIMUM AMOUNT OF REVENUE OBLIGATION SECURITIES TO BE ISSUED BY THE AUTHORITY TO PROVIDE FINANCING FOR THE PROJECT: $45,000,000.[/font]
Interested members of the public are invited to attend the hearing. The Authority staff will present information relative to the project and proposed financing and invite questions from persons attending. In addition, persons attending will have an opportunity to make a brief statement regarding the project or the financing. Comments are specifically requested on those criteria set forth in 10 MRSA §1043(2), including public benefit and whether the Project could result in a substantial detriment to existing business. Persons planning to attend the hearing or to make a statement at the hearing are requested to notify the Authority in writing no later than February 17, 2017.
Persons wishing to make written comments are requested to provide the written comments to the Authority before the hearing. Written comments will also be accepted at the hearing.
If additional information is required on the proposed Revenue Obligation Securities Issue and the Project, please contact:
Finance Authority of Maine
Christopher H. Roney
5 Community Drive
P.O. Box 949
Augusta, Maine 04332-0949
(207) 623-3263
Feb. 6, 2017
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