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Notice of Public Hearing regarding the Issuance of MOHE Student Supplemental Loan Program Revenue Bonds, 2020 Series

10/29/2019


 

The Minnesota Office of Higher Education (the “Issuer”), through its designated Hearing Officer, will hold a public hearing at 10:00 a.m. at Issuer's principal offices located at 1450 Energy Park Drive, Suite 350, St. Paul, Minnesota, on November 8, 2019, on the issuance of Supplemental Student Loan Program Revenue Bonds, Series 2020 (the “Bonds”).  The Bonds are being issued in one or more series for the purpose of (i) financing, refinancing or making additional loans to eligible students (“Student Loans”) under the Issuer’s Student Loan Program in accordance with the provisions of Minnesota Statutes, Chapter 136A, as amended, (ii) funding certain funds securing the Bonds and (iii) paying a portion of the costs of issuance of the Bonds (the “Project”).  The Bonds are proposed to be issued in an amount not to exceed $75,000,000. The Bonds shall be limited obligations of the Issuer payable from and secured solely by all payments of principal of and interest on certain Student Loans and the proceeds thereof, certain funds and accounts and other collateral constituting the security to be described in the resolution authorizing the Bonds.  The Bonds will not constitute or be deemed to constitute a pledge of the full faith and credit of the Issuer or the State of Minnesota, but shall be payable solely from revenues pledged by the Issuer in accordance with a trust indenture, as supplemented. Neither the full faith or credit nor the taxing power of the State of Minnesota will be pledged to the payment of principal of or the interest on the Bonds.  The Issuer has no taxing power.  The hearing shall provide an opportunity for expression of opinion, for argument on the merits and for the introduction of documentary evidence pertinent to the nature of the Project and the proposed issuance of the Bonds. Written comments will be accepted by the Issuer at 1450 Energy Park Drive, Suite 350, St. Paul, Minnesota 55108, but must be received before the hearing is convened.

Dated:  October 29, 2019

BY ORDER OF DENNIS OLSON, JR., COMMISSIONER OF THE MINNESOTA OFFICE OF HIGHER EDUCATION


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