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5 - 357308

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5 - 187442

NOTICE OF PUBLIC HEARING BY THE
ECONOMIC DEVELOPMENT AUTHORITY OF THE TOWN
OF MOUNT JACKSON, VIRGINIA, ON A PROPOSED PLAN
OF FINANCE AND REVENUE BOND FINANCING FOR SHENANDOAH UNIVERSITY

Notice is hereby given that the Economic Development Authority of the Town of Mount Jackson, Virginia (the "Authority"), will hold a public hearing on the application submitted by Shenandoah University (the "University") requesting the Authority to issue, pursuant to the Virginia Industrial Development and Revenue Bond Act, as amended (the "Act"), revenue bonds in an aggregate amount now estimated not to exceed $10,000,000 (the "Bonds"), in one or more series and pursuant to a common plan of finance. The University is a not-for-profit Virginia non-stock corporation whose principal address is 1460 University Drive, Winchester, Virginia 22601. The University's main campus (the "Main Campus") is located partly within the boundaries of the City of Winchester, Virginia (the "City"), and partly within the boundaries of the County of Frederick, Virginia (the "County"), generally (although not exclusively) in the area south of Winchester Recreation Park and the Winchester Country Club, north of E. Jubal Early Drive and Millwood Pike, east of South Pleasant Valley Road and west of Tulane and Shockey Drives.

The proceeds of the Bonds will be loaned to the University to finance the acquisition, construction, renovation, rehabilitation and equipping of various capital improvement projects including but not limited to (1) the Health Professions Building located in the City at 1775 North Sector Court, (2) classroom, office, laboratory, study, lounge, conference and event spaces located or to be located on the Main Campus, (3) residential facilities housing up to 200 students to be located on the Main Campus, and (4) additions of approximately 10,000 to 75,000 sq. ft. to the new athletic field house (including athletic facilities, locker rooms and office space), located on the Main Campus near the corner of Tulane and Shockey Drives.

As required by the Act, the Bonds will not constitute a debt or pledge of the faith and credit of the Commonwealth of Virginia (the "Commonwealth"), the Town of Mount Jackson, Virginia (the "Town"), the City or the County. Neither the Commonwealth nor any political subdivision thereof, including the Authority, the Town, the City and the County shall be obligated to pay the Bonds, or the interest thereon, or other costs incidental thereto, except from the revenues and monies pledged therefor, and neither the faith and credit nor the taxing power of the Commonwealth nor any political subdivision thereof will be pledged to the payment of principal of the Bonds or the interest thereon or other costs incidental thereto.

The public hearing shall be held by the Authority on behalf of itself, the Town, the City and the County, as part of the approval process with respect to the issuance of the Bonds. If, following the hearing, the Authority recommends approval of the issuance of the Bonds, a record of the public hearing will be forwarded to the Town Council of the Town of Mount Jackson, Virginia, the Board of Supervisors of Frederick County, Virginia, and the Common Council of the City of Winchester, Virginia, all of which must approve of, or concur in, the issuance of the Bonds.

The public hearing (which may be continued or adjourned to a later date), will be held before the Authority at 5:00 p.m. on Tuesday, June 13, 2017, in the Town Council Chambers at the Mount Jackson Town Office located at 5901 Main Street, Mount Jackson, Virginia 22842. Residents of the Town, the County, the City, as well as any other person interested in the issuance of the Bonds or the location or nature of the projects to be financed thereby may attend and speak at the hearing or may send written comments before such hearing to the Authority, c/o the Secretary of the Authority, 5901 Main Street, Mount Jackson, Virginia 22842.

ECONOMIC DEVELOPMENT AUTHORITY OF
THE TOWN OF MOUNT JACKSON, VIRGINIA #2876

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