NOTICE OF PUBLIC HEARING Notice is hereby given that a public hearing will be held by the Winona Lake Economic Development Commission (the “Commission”), on behalf of itself and the Town of Winona Lake, Indiana (the “Town”), on Tuesday, August 18, 2015 at 5:00 p.m., local time, in the Winona Lake Town Hall Council Chambers, 1310 Park Avenue, Winona Lake, Indiana to consider the approval of the issuance by the Town of a maximum principal amount of up to $10,000,000 of its Economic Development Revenue Bonds, Series 2015B (Grace College Project) (the “Bonds”). If the Bonds are approved and issued, the proceeds thereof will be loaned to Grace Schools, a nonprofit corporation organized and existing under the laws of the State of Indiana, for the purpose of financing or refinancing (1) the acquisition of an existing apartment-style residential hall containing 10 town-home style apartments, to be owned, operated and managed by Grace Schools, located at the intersection of 7th Street and Kings Highway in Winona Lake, Indiana, (2) the construction, furnishing and equipping of an approximately 86 room, 172 bed, apartment-style residential hall, to be owned, operated and managed by Grace Schools, to be located to be located at 1180 Beta Drive, Winona Lake, Indiana, (3) paying certain interest and fees; and (4) paying certain costs of issuing the Bonds. The principal of, premium, if any, and interest on such Bonds shall not constitute an indebtedness or liability of the Town, or the State of Indiana, or any political subdivision of the State of Indiana, or a charge against their general credit or any taxing powers, but shall be payable solely from the sources provided for in the proceedings pursuant to which such Bonds are to be issued. The Commission will consider whether the proposed projects may have an adverse competitive effect on similar facilities already constructed or operating in or about the Town. At such hearing, a determination will be made whether the proposed financing complies with the purposes and provisions of Indiana Code 36-7-12, as amended, and will be of benefit to the health or general welfare of the Town and its citizens, and if so, the financing will be approved by resolution and such resolution will be transmitted by the Commission to the Town Council of the Town for such action in the premises as they deem is merited. The Commission also will consider any and all other business properly presented to it at said meeting. The public is invited to attend and comment on any of the matters herein noted. WINONA LAKE ECONOMIC DEVELOPMENT COMMISSION 7-28 hspaxlp
