TEFRA Hearings

PUBLIC MEETING NOTICE

The Pennsylvania Higher Educational Facilities Authority (the “Authority”) will hold a public hearing on October 7, 2024, at 2:00 p.m. prevailing time, at Hearing Room #2 in the Commonwealth Keystone Building, 400 North Street, FL 6, Harrisburg, PA 17120.  Individuals and representatives of organizations who desire to present oral testimony at the public hearing are requested to state their names at the public hearing, addresses and telephone numbers as well as the organization they represent.  The public hearing is being held to discuss the proposed issuance by the Authority of tax-exempt and/or taxable revenue bonds (collectively, the “Bonds”) pursuant to a plan of finance in one or more series for the benefit of Thomas Jefferson University and certain of its affiliates.

INITIAL OWNER:  Thomas Jefferson University, a Pennsylvania non-profit corporation and a tax-exempt organization described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended (the “Code”), and certain of its educational healthcare controlled affiliates (collectively, “TJU”), including Lehigh Valley Health Network, Inc. and its affiliates: Lehigh Valley Hospital, Inc.; Lehigh Valley Hospital-Schuylkill; Lehigh Valley Hospital-Hazleton; Lehigh Valley Physician Group; LVHN Realty Holding Company; and Lehigh Valley Hospital-Pocono.  The tax-exempt Bonds are intended to be qualified 501(c)(3) bonds pursuant to Section 145 of the Code.

PRINCIPAL AMOUNT OF BONDS:  The aggregate principal amount of the Bonds will not exceed $30,000,000.

DESCRIPTION AND LOCATION OF THE PROJECT TO BE FINANCED:  The proceeds of the Bonds will be used for:

(a)                the payment of (or the reimbursement to TJU for) the costs of the acquisition, construction, renovation, improvement, fit-out, and equipment costs of and other capital expenditures for educational and/or health care facilities located at 1107 Grosser Road, Gilbertsville, PA 19525;

(b)                the funding of any necessary reserves and the payment of interest on all or a portion of the Bonds;

(c)                the payment of the costs associated with municipal bond insurance, one or more letters of credit and/or one or more standby bond purchase agreements or similar liquidity facilities, if deemed necessary; and

(d)                the payment of issuance costs and expenses incident to the financing including costs relating to interest rate hedging arrangements.

At the public hearing, any and all persons in attendance will be afforded an opportunity to comment on the proposed project and the issuance by the Authority of its Bonds therefor.

This notice is published, and the public hearing is being held by and on behalf of the Authority as the issuer of the Bonds as required by Section 147(f) of the Code.

Interested persons can also submit written comments on the plan of financing at least twenty-four hours before the hearing to the Pennsylvania Higher Educational Facilities Authority, 400 North Street, FL 6, Harrisburg, PA 17120, Attention: Executive Director or by e-mail to jesheffield@pa.gov.

PENNSYLVANIA HIGHER EDUCATIONAL

FACILITIES AUTHORITY