NOTICE OF PUBLIC HEARING

 

Notice is hereby given that The Health, Educational and Housing Facility Board of the City of Memphis, Tennessee (the "Board") will conduct an open and public hearing, as required under Section 147(f) of the Internal Revenue Code of 1986, as amended (the "Code") on Thursday, June 29, 2017, at 65 Union Avenue, Suite 1120, Memphis, Tennessee 38103, commencing at 10:30 a.m., Memphis time, in connection with the request of Steele Keystone, LLC, a Tennessee limited liability company, authorized to conduct business in the State of Tennessee, for the issuance of not to exceed Eleven Million Dollars ($11,000,000) multi-family housing revenue bonds, in one or more series (the "'Bonds"), the proceeds of the sale thereof to be loaned to Steele Keystone, LLC, a Tennessee limited liability company, for the purpose of acquiring, rehabilitating and equipping an approximate 150-unit multifamily residential rental project, known as Keystone Landing Apartments located at 4266 Ridgestone Drive, Memphis, Shelby County, Tennessee 38128 (the "Project") and to the extent permitted to pay certain costs of issuance. Monroe Group, Ltd. will serve as the initial property manager for the Project.

 

The Board has appointed Charles E. Carpenter, Esquire, General Counsel, as its representative for the purpose of holding this public hearing. Interested persons who wish to express their views either orally or in writing concerning the proposed issuance of the Bonds and the location and nature of the facilities to be financed with the proceeds of the Bonds will be given the opportunity to express their views concerning the foregoing at the above stated time and place. Anyone may appear in person at such public hearing or submit written consent to be considered thereat.

 

The Bonds will be issued pursuant to the provisions of Title 48, Chapter 101, Part 3, Section 48-101-301 et seq., Tennessee Code Annotated, as amended (the "'Act"), and as required by the Act, the Bonds shall not constitute a debt of the City of Memphis, the County of Shelby, the State of Tennessee or any other political subdivision thereof. None of said City, County, State or any political subdivision thereof shall be liable upon the Bonds, nor shall the Bonds be payable from any funds or property other than those pledged to the payment thereof. The Board has no taxing power.

 

The Bonds will be payable solely from the revenues derived from the Project.

 

Additional information concerning the facilities to be financed may be obtained from and written comments should be addressed to Martin Edwards, Jr., Executive Director, The Health, Educational and Housing Facility Board of the City of Memphis, Tennessee, 65 Union Avenue, Suite 1120, Memphis, Tennessee 38103, telephone number (901) 527-6400.

 

This notice is given pursuant to the provisions of the Act, Sections 8-44-101 to 8-44-108 inclusive of the Tennessee Code Annotated, and Section 147(f) of the Code.

 

Daniel T. Reid, Chair, The Health, Educational and Housing Facility Board of the City of Memphis, Tennessee