Denver Post, Notice is hereby given that the Executive Director of the Colorado Educational and Cultural Facilities Authority (the "Authority") will conduct a public hearing on July 7, 2015 (the "Public Hearing") concerning the approval of the plan of finance involving the issuance by the Authority of its Revenue Bonds (National Jewish Federation Bond Program) in one or more series in an aggregate principal amount not to exceed $36,500,000 (the "Bonds"). The Public Hearing is a forum to discuss the plan of finance and the issuance of the Bonds to finance the project described below. Proceeds of the Bonds will be loaned by the Authority to Spertus College of Judaica, an Illinois nonprofit corporation and 501(c)(3) organization, d/b/a Spertus Institute for Jewish Learning and Leadership (the "Borrower") for a plan of finance consisting of the following elements: (a) the current refunding of the Illinois Finance Authority Adjustable Rate Demand Revenue Bonds, Series 2005 (Spertus Institute of Jewish Studies Project) (the "Series 2005 Bonds"), which were used to (i) finance, refinance or reimburse the Borrower for all or a portion of the costs of the acquisition, construction, renovation, expansion, restoration, furnishing and equipping of certain of its facilities consisting of a new building of approximately 10-stories and containing approximately 152,000 square feet at 610 South Michigan Avenue, Chicago, Illinois, together with such other related capital improvements on or adjacent to said site as necessary and desirable for the Borrower's educational and related purposes (the "2005 Project"), (ii) refinance the outstanding principal amount of certain indebtedness of the Borrower, the proceeds of which were used to finance the acquisition of the site of the 2005 Project and an adjacent building located at 618 South Michigan Avenue, Chicago, Illinois, to pay certain of the costs of the 2005 Project described in (i) above, and to pay costs of the renovation and equipping of the second building, (iii) refinance or reimburse certain expenditures for the renovation and equipping of the building at 618 South Michigan Avenue, Chicago, Illinois (iv) pay capitalized interest on the Series 2005 Bonds, and (v) pay all or a portion of the costs of issuance of the Series 2005 Bonds, including but not limited to fees for credit enhancement for the Series 2005 Bonds; and (b) financing certain costs of issuing the Series W-1 Bonds (collectively, the "Project"). The facilities being refinanced with proceeds of the Bonds will be owned, operated, and managed by the Borrower. The Bonds and the interest thereon shall never constitute the debt or indebtedness of the Authority or any political subdivision of the State of Colorado (the "State") within the meaning of any provision of the Constitution of the State and shall not constitute or give rise to a pecuniary liability or a charge against the general credit or taxing powers of the Authority or the State or any political subdivision of the State. All interested parties are invited to attend and present comments at the Public Hearing regarding the plan of finance, the Project and the issuance of the Bonds. The Public Hearing on the plan of finance, the Project and the issuance of the Bonds will be held on Tuesday, July 7, 2015 at 10:00 a.m., at the offices of the Authority located at 1981 Blake Street, Denver, Colorado 80202-1272. Written comments may also be submitted to the Authority at the Authority's address set forth above, until the date of the public hearing.
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