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NOTICE OF PUBLIC HEARING NOTICE IS HEREBY GIVEN that the South Carolina Jobs-Economic Development Authority (“JEDA”) will hold a public hearing with respect to the proposed issuance by JEDA of not exceeding $8,000,000 aggregate principal amount of its Economic Development Revenue Bonds (Technical College of the Lowcountry Project), in one or more series (collectively, the “Bonds”). The proceeds of the Bonds will be loaned to Technical College of the Lowcountry Foundation, Incorporated, a South Carolina nonprofit corporation (the “Borrower”), to finance the cost of acquisition, construction and equipment of an approximately 28,950 square foot culinary arts institute and interpretive center (the “Project”) to be used by or for the benefit of the Technical College of the Lowcountry (“TCL”). The Project will be located in Beaufort County, South Carolina (the “County”), at 1 Venture Drive, Buckwalter Place Commerce Park, Bluffton, SC 29910, will be owned by the Borrower or TCL and operated and managed by TCL. The Bonds will be payable by JEDA solely and exclusively out of payments to be made by the Borrower and are to be secured, inter alia, by a pledge of the revenues derived by JEDA from the Borrower and TCL in connection with the Project.
The Bonds will not constitute an indebtedness of JEDA, the State of South Carolina (the “State”), the County or TCL within the meaning of any South Carolina constitutional provision or statutory limitation (other than Article X, Section 13(9) of the State Constitution permitting indebtedness payable from a source other than revenues derived from a tax or license) nor give rise to a pecuniary liability of JEDA, the State, the County or TCL. The Bonds will not constitute a charge against the general credit of JEDA, the State or the County or the taxing powers of the State or the County. JEDA has no taxing powers.
Any person may appear and be heard at the public hearing relating to the proposed issuance of the Bonds and the Project which public hearing will be held on Thursday, June 6, 2019, at 11:00 a.m., at 1201 Main Street, Suite 1745, Columbia, South Carolina 29201. Written comments related to the Bonds and the Project may also be submitted to JEDA at 1201 Main Street, Suite 1600, Columbia, South Carolina 29201.
SOUTH CAROLINA JOBS-ECONOMIC DEVELOPMENT AUTHORITY
Harry A. Huntley, Executive Director