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TEFRA Notice Of Public Hearing

  • STARTSep 15th - 10:00am

  • ENDSep 15th - 10:00am

  • VENUE4th Floor, Commonwealth Keystone Building

September 15, 2020 @ 10:00 am EDT

Notice Of Public Hearing For The Pennsylvania Economic Development Financing Authority With Respect To An Amount Not To Exceed $70,000,000 Of Pennsylvania Economic Development Financing Authority Solid Waste Disposal Revenue Bonds (Noble Environmental, Inc. Project) Series 2020

Notice is hereby given that at 10:00 a.m., September 15th, 2020, a public hearing, as required by Section 147(f) of the Internal Revenue Code of 1986, as amended (the “Code”), will be held by the Pennsylvania Economic Development Financing Authority (the “Authority”) and will commence at 10:00 a.m., or as soon thereafter as the matter can be heard, via conference call by dialing the toll-free number 1 (800) 719-7514 and then when prompted, passcode 118255. The hearing is being held with respect to the proposed issuance by the Authority of one or more series, as part of a plan of finance, of its Solid Waste Disposal Revenue Bonds (Noble Environmental, Inc. Project), Series 2020 (the “Bonds”), in an amount not to exceed $70,000,000. Due to the COVID-19 pandemic, the building that the Authority uses for its meetings is currently closed to the public, as such, the meeting is open to the public via conference call only in accordance with Pennsylvania law (2020 Pa. Legis. Serv. Act 2020-15 (S.B. 841) (PURDON’S)) and the Governor’s Declaration of a State of Emergency for the Commonwealth of Pennsylvania due to a public health emergency dated March 6, 2020.

The Bonds are expected to be issued pursuant to the Pennsylvania Economic Development Financing Law, and pursuant to Section 142(a)(6) of the Code as solid waste disposal facility bonds. The proceeds from the sale of the Bonds will be loaned to Noble Environmental, Inc. a Delaware corporation or its designated affiliates (collectively, the “Borrower”), and used to finance all or a portion of the cost to (i) develop, construct and/or equip facilities used in connection with the disposal, conversion, or reclamation of solid waste, including, without limitation: (A) the acquisition and equipping of new collection vehicles, trucks, trailers, solid waste disposal containers and related equipment, and computers; (B) the acquisition and installation of certain solid waste recycling sorting and processing equipment; (C) the acquisition, construction, improvement and equipping of certain solid waste disposal, collection (including related compressed natural gas (CNG) infrastructure), transfer, recycling and customer care facilities; (D) certain landfill development costs (including landfill cell development and liners to create additional disposal capacity at the Company’s current permitted landfill sites) and related costs (including paving and grading and other infrastructure improvements); and (E) additional capital expenditures for the development, design, engineering, replacements, demolition, construction, and renovation that were, or will be, undertaken or incurred to accomplish the foregoing (collectively, the “Facility”); and (ii) pay a portion of the costs associated with the issuance of the Bonds. The Borrower will be the initial owner and/or operator of the Facility.

The Facility will be located at the following addresses:

Project Locations: Maximum Amount of Bonds Per Location:
1200 E National Pike, Scenery Hill, PA 15360 (Washington County)$15,000,000
819 Tyrol Blvd, Belle Vernon, PA 15012 (Westmoreland County)$15,000,000
901 Tyrol Blvd, Belle Vernon, PA 15012 (Westmoreland County)$70,000,000
259 5th Street, West Elizabeth, PA 15088 (Westmoreland County)$25,000,000


The Bonds will be special limited obligations of the Authority payable only from (i) loan repayments to be made by the Borrower to the Authority and (ii) certain funds and accounts established by the bond indenture for the Bonds.

The public is invited to attend the hearing in the manner set forth above and all persons in attendance will be given the opportunity to be heard. The Authority requests that interested parties submit any comments in writing. All attendance inquiries should be directed to Craig Petrasic, Assistant Director, or Brian Deamer, Project Manager, Pennsylvania Economic Development Financing Authority, Commonwealth Keystone Building, 400 North Street, 4th Floor, Harrisburg, Pennsylvania 17120, (717) 783-1109.

This notice is published in accordance with the requirements of the Code and the regulations promulgated thereunder.

Details

Date:
September 15, 2020
Time:
10:00 am EDT
Event Categories:
Commonwealth Financing Authority, PEDFA Board Meetings

Venue

4th Floor, Commonwealth Keystone Building
400 North Street
Harrisburg, PA 17120 United States
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