Framingham Online News

LEGAL NOTICE: 354 Waverly St, Health Center, Bond

Filed under: Legal Notices by News Staff at 2:21 am on March 16, 2011

EDWARD M. KENNEDY COMMUNITY HEALTH CENTER PROJECT

LEGAL NOTICE OF PUBLIC HEARING

NOTICE OF PUBLIC HEARING TO BE HELD BY MASSACHUSETTS DEVELOPMENT FINANCE AGENCY CONCERNING THE EDWARD M. KENNEDY COMMUNITY HEALTH CENTER PROJECT.

Notice is hereby given that Massachusetts Development Finance Agency will hold a public hearing on March 24, 2011 at 10:00 A.M. at 89 Shrewsbury Street, Worcester, Massachusetts, to consider the issuance of revenue bonds by Massachusetts Development Finance Agency in an amount not exceeding $6,500,000 for the benefit of Edward M. Kennedy Community Health Center, Inc. (the "Borrower" which term includes in this notice any parent, subsidiaries, or other affiliates thereof).

The proceeds of the bonds will be used to: (i) refinance the Borrower's existing conventional debt, the proceeds of which were originally used to acquire land and an existing facility thereon now owned by the Borrower and located at 354 Waverly Street, Framingham, Massachusetts (the "Framingham Property"); (ii) finance the renovation of and the construction of an addition to and purchase fixtures, furniture and equipment for the Framingham Property; (iii) finance the renovation of and purchase fixtures, furniture and equipment for an existing building owned by the Borrower and located on the Borrower's property at 19 Tacoma Street, Worcester, Massachusetts, which together with the Framingham Property is used in the Borrower's business of providing community health services; and (iv) pay capitalized interest and costs of issuance (the "Project"). The total estimated cost of the Project is $15,284,380. The bonds will not constitute a debt or pledge of the faith and credit of The Commonwealth of Massachusetts or Massachusetts Development Finance Agency.

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