Massachusetts Development Finance Agency meeting

Notice is hereby given that a public hearing will be conducted by the Massachusetts Development Finance Agency (the “Issuer”) at 2:30 p.m. on July 10, 2019, at its offices located at 99 High Street, 11^th Floor, Boston, Massachusetts, 02110, with respect to the proposed amendment by the Issuer, acting under and pursuant to Massachusetts General Laws, Chapters 23G and 40D, as amended, of the terms of the $20,730,000 Massachusetts Development Finance Agency, Variable Rate Demand Revenue Bonds, CIL Realty of Massachusetts Issue, Series 2013, including without limitation any applicable amendment to any bond document (such bonds, as to be amended, the “Bonds”).  If the Issuer’s offices are closed on July 10, 2019 due to unforeseen circumstances, including without limitation adverse weather conditions, the public hearing will be held on the next business day on which the Issuer’s offices are open at the same time and location.

Said amendment will be deemed a current refunding of the Bonds under the Internal Revenue Code of 1986, as amended.  The Bonds, currently outstanding in the approximate principal amount of $12,160,000, which constitutes the maximum aggregate principal amount of Bonds immediately following such amendment) provided for the financing or refinancing of, or the reimbursement of funds advanced by CIL Realty of Massachusetts Incorporated (the “Institution,” which term includes for purposes of this Notice any parent, subsidiary or other affiliate thereof) with respect to certain facilities owned or to be owned and operated by the Institution (including without limitation such financing, refinancing or reimbursement of bond reserves, capitalized interest and issuance costs), generally consisting of the financing of, or the refinancing of conventional debt which financed, the acquisition, construction, renovation, furnishing and equipping (or any combination of acquisition, construction, renovation, furnishing or equipping) of facilities leased to care providers for use as community residences for people with developmental disabilities (each, a “Residence”), the address of each Residence being listed on Exhibit A, and each Residence being located in The Commonwealth of Massachusetts (the “Commonwealth”) (collectively, the “Project”) and financing the costs of issuance for the Bonds and the costs of carrying out the Project, including repayment of external loans and internal advances for the same and including interest on the Bonds for up to two years after the date of issuance of the Bonds.

The Bonds, as to be amended, which will constitute qualified 501(c)(3) bonds for charitable purposes, will not constitute a general obligation of, or a pledge of the faith and credit of the Issuer or a general obligation of, or a debt or pledge of the faith and credit of the Commonwealth.

Interested persons wishing to express their views on such Project and the proposed amendment of the Bonds that financed and refinanced the costs of such Project will be given the opportunity to do so at the public hearing or may, prior to the time of the public hearing, submit their views in writing to Massachusetts Development Finance Agency, 99 High Street, 11^th Floor, Boston, Massachusetts 02110.