Volume 41 - Issue 2 - January 13, 2022
State of Kansas
Kansas Development Finance Authority
Notice of Hearing
A public hearing will be held at 9:00 a.m. Thursday February 3, 2022, in the conference room of the Kansas Development Finance Authority (the “Authority”), 534 S. Kansas Ave., Suite 800, Topeka, Kansas, related to a proposed plan of finance for the Authority to issue in one or more series tax-exempt qualified 501(c)(3) revenue bonds (the “Bonds”) in a principal amount not to exceed $10,500,000. The Bonds are proposed to be issued on behalf of KSU Real Estate Fund, LLC, a Kansas limited liability company (the “Company”). The Company was created by and for federal tax purposes is a disregarded entity of the KSU Charitable Real Estate Foundation (the “Real Estate Foundation”), a Kansas not-for-profit corporation and an organization described in Internal Revenue Code (the “Code”) Section 501(c)(3). The Real Estate Foundation is a supporting organization for the Kansas State University Foundation (the “Foundation”), a Kansas not-for-profit corporation and an organization described in Code Section 501(c)(3). The Foundation is affiliated with and a supporting organization for Kansas State University, a political subdivision of the State of Kansas (the “University”). The Bonds will be issued pursuant to K.S.A. 74-8901 et seq. (the “Act”).
The Company expects to allocate all Bond proceeds to pay all or a portion of the capital and working capital expenditures related to acquiring, constructing, furnishing and equipping an approximately 100-bed student residence hall, to be located on the Salina Aerospace and Technology Campus of the University with a street address of 2250 Centennial Rd., Salina, KS 67401 (the “Project”), to be owned by the Company and leased to the University to support the educational purposes of the university, all in accordance with and pursuant to the Act.
The Bonds, when issued, will be a limited obligation of the Authority and will not constitute a general obligation or indebtedness of the State of Kansas or any political subdivision thereof, nor will the Bonds constitute an indebtedness for which the faith and credit and taxing powers of the State of Kansas are pledged, but the Bonds will be payable solely from lease payments pledged by the Company in amounts sufficient to pay the principal of, interest and redemption premium, if any, on the Bonds when due.
Interested individuals may participate in the public hearing via conference call. Please call toll free number 866-620-7326 and use conference identification number 159 722 1260 followed by # to join the conference.
At the hearing, all individuals who appear will be given an opportunity to express their views for or against the proposed plan of finance to issue Bonds to finance the Project, and all written comments previously filed with the Authority at its offices at 534 S. Kansas Ave., Suite 800, Topeka, KS 66603 will be considered. Additional information regarding the Project may be obtained by contacting the Authority at the address of its offices listed above.
Rebecca Floyd
Executive Director
Doc. No. 049722
