VERMONT EDUCATIONAL AND HEALTH BUILDINGS FINANCING AGENCY NOTICE OF PUBLIC HEARING
Vermont Educational and Health Buildings Financing Agency, Burlington, Vermont (the “Agency”), a body corporate and politic constituting a public instrumentality of the State of Vermont, proposes to issue its Vermont Educational and Health Buildings Financing Agency Revenue Bonds (Middlebury College Project) Series 2025 (the “Bonds”) in a total principal amount not to exceed $30,000,000, as qualified 501(c)(3) bonds as defined in Section 145 of the Internal Revenue Code of 1986, as amended (the “Code”), to make a loan to The President and Fellows of Middlebury College (the “College”) for purposes of: (a) paying, or reimbursing the College for paying, a portion of the cost of acquiring, constructing, renovating or equipping various capital improvements to its educational facilities, including (i) renovating the bathroom facilities, HVAC systems, windows and exterior doors, accessibility and life safety systems and adding a new elevator in Stewart Hall, a five story, approximately 35,000 square foot, residence hall, which will be modified to contain approximately 142 beds, (ii) renovations to Armstong Science Library to create the Quantitative Center, an approximately 12,000 square foot, two story, collaborative center within McCardell Bicentennial Hall for the College’s faculty, students and staff working in STEM and other quantitative fields, (iii) renovation of the kitchen, food service and related portions of the Kirk Alumni Center, an approximately 11,935 square foot building, (iv) construction of approximately twelve new tennis courts, (v) the construction of a new, four floor, approximately 84,000 square foot, residence hall with approximately 298 beds, and (vi) additional capital expense projects consisting of the acquisition of information technology systems, software and hardware and other campus improvements, as contemplated by the College’s annual capital expense budget (collectively, the “Project”); and (b) paying certain costs incurred in connection with the issuance of the Bonds.
The College is and will be the legal owner and principal user of the Project that will constitute an integrated operation of the College and is located on its main campus at 114 Old Chapel Road, Middlebury, Vermont 05753.
Please Take Notice that the Agency will hold a public hearing as required by Section 147(f) of the Code at 11:30 a.m. on July 15, 2025, at which time any person may be heard regarding the issuance of the proposed Bonds and the financing of the Project.
The general public may participate in the public hearing by calling the following toll-free telephone number: 877-853-5257, and use meeting I.D.: 858 6223 9018, passcode: 013753. 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 11:00 a.m. on July 15, 2025.
Written comments may also be submitted to the Agency via email at michael@vtbondagency.org no later than 11:00 a.m. on July 15, 2025.
Documents regarding the proposed Bonds and other public records regarding the Project described above are in the possession of the Agency and will be made available upon request.
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 |