Calendar module icon

Calendar

View All Calendars is the default. Choose Select a Calendar to view a specific calendar. Subscribe to calendar notifications by clicking on the Notify Me® button, and you will automatically be alerted about the latest events in our community. Now you can submit your own events! If you are a non-profit (501C) organization in Hingham, you can click on the link to submit a new event to be reviewed for publishing. Submit an Event

Date:
February 14, 2022
Time:
7:00 PM - 8:30 PM
Time Details:
2/14/2022
Location:

Dial in:                        (888) 909-7654

Participant Code:        303542

Facebook Twitter Email

Select Board - Public hearing regarding the request for approval of private bonds, under IRS Code Section 147(f), by Linden Ponds, Inc.

Monday, February 14, 2022


TOWN OF HINGHAM PUBLIC HEARING

Monday, February 14, 2022 at 7:00 P.M.

Notice is hereby given that a telephonic public hearing will be conducted by the Town of Hingham (the “Town”) under the provisions of Section 147(f) of the Internal Revenue Code of 1986 (as amended) on Monday February 14, 2022, commencing at 7:00 P.M.  

On February 3, 2022, the Select Board voted to schedule this hearing and to authorize the Town Administrator or the Town Administrator's designee to conduct this hearing.

In order to promote and protect the safety of both the public and Town officials and employees in light of the COVID-19 pandemic, and pursuant to the Executive Order of the Governor of the Commonwealth of Massachusetts (the “Commonwealth”) dated March 12, 2020 and pursuant to Chapter 20 of the Acts of 2021 and all other applicable laws regarding the conduct of public hearings in the Commonwealth, the public hearing will be held via the following telephonic conference line in lieu of physical presence at the public hearing:

Dial in:                        (888) 909-7654

Participant Code:        303542

Use of Proceeds, Facilities and Location:

The public hearing is in connection with the proposed issuance by the Public Finance Authority (the “Authority”) of one or more series of its revenue bonds, taxable or tax-exempt and in one or more issues or series (the “Bonds”). The proceeds of the Bonds will be loaned by the Authority to Linden Ponds, Inc., a Maryland nonstock corporation and a nonprofit 501(c)(3) corporation (the “Borrower”) and used for (a) refinancing a portion of the costs of acquiring, expanding, renovating, constructing and equipping of the existing Linden Ponds continuing care retirement community located at 300 Linden Ponds Way, Hingham, Massachusetts 02043 (the “Facility”), by refunding the outstanding principal amount of the Massachusetts Development Finance Agency Revenue Bonds (Linden Ponds, Inc. Facility) Series 2011B; (b) financing, refinancing and/or reimbursing the costs of capital improvements to the Facility, including, but not limited to, the acquisition, construction, renovation and equipping of (i) a new approximate 57,200 sq. ft. continuing care facility, (ii) a skyway bridge, and (iii) other capital improvements to existing facilities (collectively, the “Project Facilities”), (c) paying capitalized interest, if any, on all or a portion of the Bonds, and (d) paying the costs of issuance of the Bonds and other costs of the financing (collectively, the “Project”). The maximum aggregate principal amount of the Bonds issued with respect to the Project will not exceed $50,000,000.

The Borrower or a wholly owned affiliate is and will be the initial owner and operator of the Project.

Repayment of the Bonds and Costs of Issuance:

The Borrower will be responsible for all costs associated with the Bonds, including principal, interest and the costs of issuing the Bonds. The Town is not responsible for any of these costs. Neither the Bonds nor the interest thereon shall ever constitute an indebtedness or a charge against the general credit or taxing powers of the Town within the meaning of any constitutional or charter provision or statutory limitation, and neither shall ever constitute or give rise to any pecuniary liability of the Town.

            Interested persons are invited to attend the public hearing and will have a reasonable opportunity to express their views, both orally and in writing, on the proposed Bonds and the location and nature of the proposed Project. Written comments may be given by submitting them to Arthur Robert, Assistant Town Administrator, Town of Hingham, Hingham Town Hall, 210 Central Street, Hingham, Massachusetts 02043, but must be received on or before the date and time of the hearing.

 This public hearing is being held remotely as an alternate means of public access pursuant to Chapter 20 of the Acts of 2021 to the extent applicable.  You are hereby advised that this public hearing and all communications during this public hearing may be recorded by the Town of Hingham. If any participant wishes to record this public hearing, please notify the Town Administrator and/or his designee so that all other participants may be informed of said recording.

Map
Agenda
Facility Submit Event Print Email Event Subscription RSS Feed Select on Calendar Expand Collapse Previous Next Down Up Map Share Show more
Agenda